Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2018

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

REAL ESTATE AND ACCUMULATED DEPRECIATION

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2018

(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)(b)		Accumulated Depreciation (a)(b)		Date of Construction/ Renovation	Date Acquired	Life on Which Depreciation in 2018 Statement of Operations is Computed (c)
OPERATING PROPERTIES
Colorado Tower	119,427		—		—		1,600			120,853		1,600		120,853		122,453		23,757		2013	2013	30 years
Austin, TX
816 Congress	81,676		6,817		89,891		3,282			23,333		10,099		113,224		123,323		25,159		—	2013	42 years
Austin, TX
Research Park	—		4,373		—		801			42,390		5,174		42,390		47,564		5,282		2014	1998	30 years
Austin, TX
Northpark Town Center	—		22,350		295,825		—			59,539		22,350		355,364		377,714		54,804		—	2014	39 years
Atlanta, GA
Promenade	99,238		13,439		102,790		—			40,193		13,439		142,983		156,422		47,862		—	2011	34 years
Atlanta, GA
Meridian Mark Plaza	23,524		2,219		—		—			29,835		2,219		29,835		32,054		20,836		1997	1997	30 years
Atlanta, GA
Fifth Third Center	143,497		22,591		180,430		—			18,449		22,591		198,879		221,470		32,760		—	2014	40 years
Charlotte, NC
Corporate Center	—		7,298		272,148		—			37,671		7,298		309,819		317,117		26,604		—	2016	40 years
Tampa, FL
The Pointe	—		9,404		54,694		—			3,807		9,404		58,501		67,905		6,286		—	2016	40 years
Tampa, FL
Harborview Plaza	—		10,800		39,136		—			3,256		10,800		42,392		53,192		4,257		—	2016	40 years
Tampa, FL
3344 Peachtree	—		16,110		176,153		—			11,798		16,110		187,951		204,061		16,117		—	2016	40 years
Atlanta, GA
Buckhead Plaza	—		35,064		234,111		—			6,066		35,064		240,177		275,241		20,965		—	2016	40 years
Atlanta, GA
3350 Peachtree	—		16,836		108,177		—			2,623		16,836		110,800		127,636		9,979		—	2016	40 years
Atlanta, GA
3348 Peachtree	—		6,707		69,723		—			701		6,707		70,424		77,131		6,706		—	2016	40 years
Atlanta, GA
8000 Avalon	—		4,130		—		72			72,747		4,202		72,747		76,949		3,245		2016	2016	40 years
Atlanta, GA
Spring & 8th	—		28,131		—		426			301,249		28,557		301,249		329,806		8,094		2015	2015	40 years
Atlanta, GA
Hearst Tower	—		9,977		323,299		—			5,108		9,977		328,407		338,384		26,928		—	2016	40 years
Charlotte, NC
NASCAR Plaza	—		51		115,238		—			2,389		51		117,627		117,678		10,959		—	2016	40 years
Charlotte, NC
Hayden Ferry	—		13,102		262,578		—			19,541		13,102		282,119		295,221		26,820		—	2016	40 years
Phoenix, AZ
111 West Rio	—		6,076		56,647		—			16,748		6,076		73,395		79,471		4,078			2017	40 years
Phoenix, AZ
Tempe Gateway	—		5,893		95,130		—			3,721		5,893		98,851		104,744		8,529		—	2016	40 years
Phoenix, AZ
One Eleven Congress	—		33,841		201,707		—			25,218		33,841		226,925		260,766		17,823		—	2016	40 years
Austin, TX
San Jacinto Center	—		34,068		176,535		(579		)	8,180		33,489		184,715		218,204		13,645		—	2016	40 years
Austin, TX
Total Operating Properties	$	467,362	$	309,277	$	2,854,212	$	5,602		$	855,415	$	314,879	$	3,709,627	$	4,024,506	$	421,495

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2018

(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)(b)		Accumulated Depreciation (a)(b)		Date of Construction/ Renovation	Date Acquired	Life on Which Depreciation in 2018 Statement of Operations is Computed (c)
PROJECTS UNDER DEVELOPMENT
10000 Avalon	$	—	$	5,819	$	—	$	—		$	18,398	$	5,819	$	18,398	$	24,217	$	—	2018	2016
Suburban Atlanta, GA
Total Projects Under Development	$	—	$	5,819	$	—	$	—		$	18,398	$	5,819	$	18,398	$	24,217	$	—
LAND
Land Adjacent to The Avenue Forsyth	$	—	$	11,240	$	—	$	(7,540	)	$	—	$	3,700	$	—	$	3,700	$	—	—	2007
Suburban Atlanta, GA
901 West Peachtree St.	—		11,883		—		—			—		11,883		—		11,883		—		—	2018
Atlanta, GA
100 Mill	—		19,515		—		—			—		19,515		—		19,515		—		—	2018
Phoenix, AZ
3rd and West Peachtree St.	—		37,037		—		—			—		37,037		—		37,037		—		—	2018
Atlanta, GA
North Point	—		10,294		—		(9,866		)	—		428		—		428		—		—	1970-1985
Suburban Atlanta, GA
Total Land	$	—	$	89,969	$	—	$	(17,406	)	$	—	$	72,563	$	—	$	72,563	$	—
Total Properties	$	467,362	$	405,065	$	2,854,212	$	(11,804	)	$	873,813	$	393,261	$	3,728,025	$	4,121,286	$	421,495

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2018

(in thousands)

NOTES:

(a) Reconciliations of total real estate carrying value and accumulated depreciation for the three years ended December 31, 2018 are as follows:

	Real Estate								Accumulated Depreciation
	2018		2017			2016			2018		2017			2016
Balance at beginning of period	$	3,893,799	$	3,814,986		$	2,606,343		$	275,977	$	215,856		$	359,422
Additions during the period:
Parkway merger	—		—			2,832,730			—		—			—
Acquisitions	48,920		62,723			—			—		—			—
Improvements and other capitalized costs	178,567		303,940			208,016			—		—			—
Transfers	—		—			5,306			—		—			—
Depreciation expense	—		—			—			145,518		101,720			112,277
Total Additions	227,487		366,663			3,046,052			145,518		101,720			112,277
Deductions during the period:
Parkway spin-off	—		—			(1,230,235		)	—		—			(148,523		)
Cost of real estate sold	—		(287,850		)	(602,648		)	—		(41,599		)	(107,320		)
Impairment loss	—		—			(4,526		)	—		—			—
Total Deductions	—		(287,850		)	(1,837,409		)	—		(41,599		)	(255,843		)
Balance at end of period	$	4,121,286	$	3,893,799		$	3,814,986		$	421,495	$	275,977		$	215,856

(b) The aggregate cost for federal income tax purposes, net of depreciation, was $3.0 billion (unaudited) at December 31, 2018.

(c) Buildings and improvements are depreciated over 30 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.