INVESTMENT IN UNCONSOLIDATED JOINT VENTURES

The Company describes its investments in unconsolidated joint ventures in note 5 of the notes to consolidated financial statements in its Annual Report on Form 10-K/A for the year ended December 31, 2014. The following table summarizes balance sheet data of the Company's unconsolidated joint ventures as of September 30, 2015 and December 31, 2014 (in thousands):



	Total Assets				Total Debt				Total Equity						Company’s Investment
SUMMARY OF FINANCIAL POSITION:	2015		2014		2015		2014		2015			2014			2015				2014
Terminus Office Holdings LLC	$	285,336	$	288,415	$	211,835	$	213,640	$	59,753		$	62,830		$	30,814			$	32,323
EP I LLC	83,256		85,228		58,030		58,029		24,172			26,671			22,249				22,905
EP II LLC	70,233		42,772		39,149		12,735		24,818			24,969			19,834				19,905
Charlotte Gateway Village, LLC	127,373		130,272		22,143		35,530		101,339			92,808			11,193				11,218
HICO Victory Center LP	12,883		10,450		—		—		12,835			10,450			9,000				7,572
Carolina Square Holdings LP	9,959		—		—		—		8,178			—			4,778				—
CL Realty, L.L.C.	7,550		7,264		—		—		7,389			7,042			3,724				3,546
Temco Associates, LLC	967		6,910		—		—		386			6,709			1,070				3,027
HICO Avalon LLC	1,130		—		—		—		900			—			806				—
Wildwood Associates	16,501		16,400		—		—		16,384			16,389			(1,108		)	(1)	(1,106		)	(1)
Crawford Long - CPI, LLC	29,900		29,946		74,645		75,000		(46,627		)	(45,762		)	(22,216		)	(1)	(21,931		)	(1)
Other	1,100		1,411		—		—		880			979			2				2
	$	646,188	$	619,068	$	405,802	$	394,934	$	210,407		$	203,085		$	80,146			$	77,461

(1) Negative balances are included in deferred income on the balance sheets.

The following table summarizes statement of operations information of the Company's unconsolidated joint ventures for the nine months ended September 30, 2015 and 2014 (in thousands):



	Total Revenues				Net Income (Loss)						Company's Share of Income (Loss)
SUMMARY OF OPERATIONS:	2015		2014		2015			2014			2015			2014
Terminus Office Holdings LLC	$	30,144	$	29,354	$	1,923		$	314		$	962		$	134
EP I LLC	9,587		9,024		2,481			2,102			1,864			1,577
EP II LLC	536		—		(150		)	—			(100		)	—
Charlotte Gateway Village, LLC	25,311		25,079		9,438			8,635			883			882
CL Realty, L.L.C.	674		1,240		346			846			178			410
Temco Associates, LLC	9,163		793		2,077			157			2,244			(24		)
Wildwood Associates	—		29		(89		)	(125		)	(45		)	(50		)
Crawford Long - CPI, LLC	9,193		8,905		2,131			2,075			1,071			1,062
Cousins Watkins LLC	—		3,801		—			217			—			1,702
Other	—		5		(95		)	(245		)	31			(350		)
	$	84,608	$	78,230	$	18,062		$	13,976		$	7,088		$	5,343

On May 1, 2015, Carolina Square Holdings LP ("Carolina Square") was formed between the Company and NR 123 Franklin LLC ("Northwood Ravin"). Carolina Square is a 50-50 joint venture formed for the purpose of developing and constructing a mixed-use property in Chapel Hill, North Carolina pursuant to a ground lease. Upon formation, each partner contributed $1.7 million in cash towards pre-development costs. Carolina Square also entered into a construction loan agreement, secured by the project, which is expected to provide up to $79.8 million to fund future construction costs. The loan bears interest at LIBOR plus 1.90% and matures on May 1, 2018. The Company and Northwood Ravin will each guarantee 12.5% of the outstanding loan amount. As of September 30, 2015, there is no outstanding balance on this construction loan.

On August 10, 2015, HICO Avalon LLC ("HICO Avalon"), a joint venture between the Company and Hines Avalon Investor LLC ("Hines"), was formed for the purpose of acquiring and potentially developing an office building in Alpharetta, Georgia. Pursuant to the joint venture agreement, all pre-development expenditures, other than land, are funded 75% by Cousins and 25% by Hines. If the project moves forward and HICO Avalon acquires land and commences construction, the acquisition of land and subsequent development expenditures will be funded 90% by Cousins and 10% by Hines. As of September 30, 2015, the Company accounts for its investment in HICO Avalon under the equity method as it does not currently control the activities of the venture. If the project moves to commence construction, the capital accounts and economics of the venture will be adjusted such that the Company will effectively own at least 90% of the venture, and Hines will own up to 10%. Additionally, Cousins will have unilateral control over the operational aspects of the venture, and the Company expects to consolidate the venture at that time. The Company's investment in HICO Avalon at September 30, 2015 includes only its share of pre-development expenditures.