Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2014

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

REAL ESTATE AND ACCUMULATED DEPRECIATION

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2014

(in thousands)

			Initial Cost to Company				Costs Capitalized Subsequent to Acquisition					Gross Amount at Which Carried  at Close of Period
Description/Metropolitan Area	Encumbrances		Land and Improvements		Buildings and Improvements		Land and Improvements less Cost of Sales, Transfers and Other			Building and Improvements less Cost of Sales, Transfers and Other		Land and Improvements less Cost of Sales, Transfers and Other		Building and Improvements less Cost of Sales, Transfers and Other		Total (a)	Accumulated Depreciation (a)		Date of Construction/ Renovation	Date Acquired	Life on Which Depreciation in 2014 Statement of Operations is Computed (b)
OPERATING PROPERTIES
Greenway Plaza	$	—	$	273,651	$	595,547	$	—		$	34,018	$	273,651	$	629,565	903,216	$	50,698	—	2013	30 years
Houston, TX
Northpark Town Center	—		24,577		295,825		—			3,999		24,577		299,824		324,401	3,119		—	2014	39 years
Atlanta, GA
Fifth Third Center	—		22,863		180,430		—			2,107		22,863		182,537		205,400	2,445		—	2014	40 years
Charlotte, NC
191 Peachtree Tower	100,000		5,355		141,012		4,034			87,100		9,389		228,112		237,501	77,637		—	2006	40 years
Atlanta, GA
Post Oak Central	185,109		87,264		129,347		—			24,033		87,264		153,380		240,644	15,561		—	2013	42 years
Houston, TX
Promenade	110,946		13,439		102,790		—			31,003		13,439		133,793		147,232	18,735		—	2011	34 years
Atlanta, GA
The American Cancer Society Center	131,083		5,226		67,370		—			31,319		5,226		98,689		103,915	63,724		—	1999	25 years
Atlanta, GA
816 Congress	85,000		6,817		89,891		3,282			7,903		10,099		97,794		107,893	6,203		—	2013	42 years
Austin, TX
2100 Ross Avenue	—		5,987		45,739		—			33,854		5,987		79,593		85,580	10,427		—	2012	35 years
Dallas, TX
The Points at Waterview	14,598		2,558		22,910		86			10,512		2,644		33,422		36,066	19,736		—	2000	25 years
Suburban Dallas, TX
Meridian Mark Plaza	25,408		2,219		—		—			27,105		2,219		27,105		29,324	16,688		1997	1997	30 years
Atlanta, GA
555 North Point Center East	—		368		—		(3		)	21,933		365		21,933		22,298	13,235		1998	1998	30 years
Suburban Atlanta, GA
221 Peachtree Center Avenue Parking Garage	—		4,217		13,337		1			347		4,218		13,684		17,902	2,755		—	2007	39 years
Atlanta, GA
333 North Point Center East	—		551		—		1			15,626		552		15,626		16,178	10,016		1996	1996	30 years
Suburban Atlanta, GA

			Initial Cost to Company				Costs Capitalized Subsequent  to Acquisition					Gross Amount at Which Carried  at Close of Period
Description/Metropolitan Area	Encumbrances		Land and Improvements		Buildings  and Improvements		Land and Improvements less Cost of Sales, Transfers and Other			Building and Improvements less Cost of Sales, Transfers and Other		Land and Improvements less Cost of Sales, Transfers and Other		Building and Improvements less Cost of Sales, Transfers and Other		Total (a)		Accumulated Depreciation (a)		Date of Construction/ Renovation	Date Acquired	Life on Which Depreciation in 2014 Statement of Operations is Computed (b)
100 North Point Center East	$	—	$	1,475	$	9,625	$	(11	)	$	3,266	$	1,464	$	12,891	$	14,355	$	7,519	—	2003	25 years
Suburban Atlanta, GA
200 North Point Center East	—		1,726		7,920		$	(14	)	$	4,690	$	1,712	$	12,610	$	14,322	6,045		—	2003	25 years
Suburban Atlanta, GA
Total Operating Properties	$	652,144	$	458,293	$	1,701,743	$	7,376		$	338,815	$	465,669	$	2,040,558	$	2,506,227	$	324,543
PROJECTS UNDER DEVELOPMENT
Colorado Tower	$	—	$	—	$	—	$	—		$	85,843	$	—	$	85,843	$	85,843	$	—	2013	2013	30 years
Austin, TX
Research Park V	$	—	$	4,373	$	—	$	—		$	1,399	$	4,373	$	1,399	$	5,772	$	—	2014	1998	0 years
Austin, TX
Total Projects Under Development	$	—	$	4,373	$	—	$	—		$	87,242	$	4,373	$	87,242	$	91,615	$	—
LAND
Commercial Land
Land Adjacent to The Avenue Forsyth	—		11,240		—		(7,540		)	—		3,700		—		3,700		—		—	2007	0 years
Suburban Atlanta, GA
Blalock Lakes	—		9,646		—		(6,301		)	—		3,345		—		3,345		—		—	2008	0 years
Suburban Atlanta, GA
549 / 555 / 557 Peachtree Street	—		5,988		—		(3,363		)	—		2,625		—		2,625		—		—	2004	0 years
Atlanta, GA
North Point	—		10,294		—		(8,851		)	—		1,443		—		1,443		—		—	1970-1985	0 years
Suburban Atlanta, GA
Wildwood	—		10,214		—		(9,539		)	—		675		—		675		—		—	1971-1989	0 years
Suburban Atlanta, GA
Total Commercial Land	$	—	$	47,382	$	—	$	(35,594	)	$	—	$	11,788	$	—	$	11,788	$	—

			Initial Cost to Company				Costs Capitalized Subsequent to Acquisition					Gross Amount at Which Carried  at Close of Period
Description/Metropolitan Area	Encumbrances		Land and Improvements		Buildings and Improvements		Land and Improvements less Cost of Sales, Transfers and Other			Building and Improvements less Cost of Sales, Transfers and Other		Land and Improvements less Cost of Sales, Transfers and Other		Building and Improvements less Cost of Sales, Transfers and Other		Total (a)		Accumulated Depreciation (a)		Date of Construction/ Renovation	Date Acquired	Life on Which Depreciation in 2014 Statement of Operations is Computed (b)
Residential Land
Blalock Lakes	$	—	$	17,657	$	—	$	(12,386	)	$	—	$	5,271	$	—	$	5,271	$	—	2006	2006	0 years
Suburban Atlanta, GA
Callaway Gardens	—		1,584		—		3,003			—		4,587		—		4,587		—		2006	2006	0 years
Pine Mountain, GA
Total Residential Land	$	—	$	19,241	$	—	$	(9,383	)	$	—	$	9,858	$	—	$	9,858	$	—
Total Land	$	—	$	66,623	$	—	$	(44,977	)	$	—	$	21,646	$	—	$	21,646	$	—
Total Properties	$	652,144	$	529,289	$	1,701,743	$	(37,601	)	$	426,057	$	491,688	$	2,127,523	$	2,619,488	$	324,543

NOTES:

(a) Reconciliations of total real estate carrying value and accumulated depreciation for the three years ended December 31, 2014 are as follows:

	Real Estate									Accumulated Depreciation
	2014			2013			2012			2014			2013			2012
Balance at beginning of period	$	2,164,815		$	997,323		$	1,253,414		$	257,151		$	258,258		$	289,473
Additions during the period:
Acquisition	523,695			1,321,394			42,692			—			—			—
Improvements and other capitalized costs	109,959			86,376			49,559			—			—			—
Depreciation expense	—			—			—			86,824			56,234			48,607
	633,654			1,407,770			92,251			86,824			56,234			48,607
Deductions during the period:
Cost of real estate sold or foreclosed	(178,981		)	(240,278		)	(334,552		)	(19,432		)	(57,341		)	(79,822		)
Impairment losses	—			—			(13,790		)	—			—			—
Write-off of fully depreciated assets	—			—			—			—			—			—
	(178,981		)	(240,278		)	(348,342		)	(19,432		)	(57,341		)	(79,822		)
Balance at end of period	$	2,619,488		$	2,164,815		$	997,323		$	324,543		$	257,151		$	258,258

(b) Buildings and improvements are depreciated over 24 to 42 years. Leasehold improvements and other capitalized leasing costs are depreciated over the life of the asset or the term of the lease, whichever is shorter.