Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

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

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2023

($ 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 2023 Statement of Operations is Computed (c)
OPERATING PROPERTIES
The Domain	$	72,558	$	65,236	$	755,143	$	6,006	$	293,326	$	71,242	$	1,048,469	$	1,119,711	$	139,760	(d)	2019	5 - 40 years
Austin, TX
Terminus	221,000		49,050		410,826		—		56,001		49,050		466,827		515,877		68,036		—	2019	5 - 40 years
Atlanta, GA
Northpark Town Center	—		22,350		295,825		—		78,476		22,350		374,301		396,651		107,286		—	2014	5 - 39 years
Atlanta, GA
Corporate Center (e)	—		2,468		272,148		16,468		70,699		18,936		342,847		361,783		84,574		—	2016	5 - 40 years
Tampa, FL
300 Colorado (d)	—		18,354		278,905		(33)		47,053		18,321		325,958		344,279		18,155		2022	2021	5 - 40 years
Austin, TX
Buckhead Plaza	—		35,064		234,111		—		67,265		35,064		301,376		336,440		57,734		—	2016	5 - 40 years
Atlanta, GA
Spring & 8th	—		28,131		—		426		301,770		28,557		301,770		330,327		62,658		2015	2015	5 - 40 years
Atlanta, GA
725 Ponce	—		20,720		272,226		—		16,615		20,720		288,841		309,561		21,331		—	2021	5 - 40 years
Atlanta, GA
Briarlake Plaza	—		33,486		196,915		—		75,801		33,486		272,716		306,202		34,758		—	2019	5 - 40 years
Houston, TX
The Terrace	—		27,360		247,226		—		31,244		27,360		278,470		305,830		40,047		—	2019	5 - 40 years
Austin, TX
Hayden Ferry	—		13,102		262,578		(252)		22,255		12,850		284,833		297,683		61,418		—	2016	5 - 40 years
Phoenix, AZ
One Eleven Congress	—		33,841		201,707		—		57,517		33,841		259,224		293,065		53,071		—	2016	5 - 40 years
Austin, TX
San Jacinto Center	—		34,068		176,535		(579)		43,313		33,489		219,848		253,337		42,156		—	2016	5 - 40 years
Austin, TX
3344 Peachtree	—		16,110		176,153		—		40,292		16,110		216,445		232,555		49,467		—	2016	5 - 40 years
Atlanta, GA
Fifth Third Center	126,548		22,591		180,430		—		21,809		22,591		202,239		224,830		62,957		—	2014	5 - 40 years
Charlotte, NC
Continued on next page
The RailYard	$	—	$	22,831	$	178,323	$	—	$	1,973	$	22,831	$	180,296	$	203,127	$	18,738	—	2020	5 - 40 years
Charlotte, NC
Promenade Tower	—		13,439		102,790		—		77,189		13,439		179,979		193,418		63,977		—	2011	5 - 34 years
Atlanta, GA
Avalon	—		9,952		—		73		181,342		10,025		181,342		191,367		36,671		2016	2016	5 - 40 years
Atlanta, GA
100 Mill	—		13,156		—		5		173,434		13,161		173,434		186,595		12,650		2022	2022	5 - 40 years
Phoenix, AZ
3350 Peachtree	—		16,836		108,177		—		55,838		16,836		164,015		180,851		24,328		—	2016	5 - 40 years
Atlanta, GA
Promenade Central	—		19,495		62,836		—		91,882		19,494		154,718		174,212		8,662		2022	2019	5 - 40 years
Atlanta, GA
Heights Union	—		9,545		123,944		—		21,067		9,545		145,011		154,556		11,565		—	2021	5 - 40 years
Tampa, FL
Colorado Tower (e)	106,862		1,600		—		20,543		128,129		22,143		128,129		150,272		46,605		2013	2013	5 - 30 years
Austin, TX
Legacy Union One	—		13,049		128,740		—		231		13,049		128,971		142,020		22,295		—	2019	5 - 40 years
Dallas, TX
Tempe Gateway	—		5,893		95,130		—		23,282		5,893		118,412		124,305		20,098		—	2016	5 - 40 years
Phoenix, AZ
550 South	—		51		115,238		—		8,734		51		123,972		124,023		29,176		—	2016	5 - 40 years
Charlotte, NC
Domain Point	—		17,349		71,599		—		13,017		17,349		84,616		101,965		15,475		—	2019	5 - 40 years
Austin, TX
5950 Sherry Lane	—		8,040		65,919		—		10,349		8,040		76,268		84,308		10,910		—	2019	5 - 40 years
Dallas, TX
3348 Peachtree	—		6,707		69,723		—		6,387		6,707		76,110		82,817		17,360		—	2016	5 - 40 years
Atlanta, GA
111 West Rio	—		6,076		56,647		(127)		19,101		5,949		75,748		81,697		20,182		2017	2017	5 - 40 years
Phoenix, AZ
The Pointe	—		9,404		54,694		—		12,180		9,404		66,874		76,278		15,842		—	2016	5 - 40 years
Tampa, FL
Harborview Plaza	—		10,800		39,136		—		10,757		10,800		49,893		60,693		12,424		—	2016	5 - 40 years
Tampa, FL
Research Park V	—		4,373		—		801		43,313		5,174		43,313		48,487		14,530		2014	1998	5 - 30 years
Austin, TX
Continued on next page
Meridian Mark Plaza	$	—	$	2,219	$	—	$	—	$	25,658	$	2,219	$	25,658	$	27,877	$	17,839	1997	1997	5 - 30 years
Atlanta, GA
Miscellaneous Investments	—		15,318		69,780		32		2,369		15,351		72,149		87,500		6,671
Total Operating Properties	526,968		628,064		5,303,404		43,363		2,129,668		671,427		7,433,072		8,104,499		1,329,406
PROJECTS UNDER DEVELOPMENT
Domain 9	—		16,640		—		—		116,244		16,640		116,244		132,884		—		—	2018
Austin, TX
Total Projects Under Development	—		16,640		—		—		116,244		16,640		116,244		132,884		—
LAND
South End Station	—		28,134		—		—		—		28,134		—		28,134		—		—	2020
Charlotte, NC
887 West Peachtree (f)	—		11,883		—		14,429		—		26,312		—		26,312		—		—	2019
Atlanta, GA
Legacy Union 2 & 3	—		22,724		—		(1)		—		22,723		—		22,723		—		—	2019
Dallas, TX
3354/3356 Peachtree	—		13,410		—		8,099		—		21,509		—		21,509		—		—	2018
Atlanta, GA
Domain Central	—		21,000		—		—		—		21,000		—		21,000		—		—	2019
Austin, TX
303 Tremont	—		18,779		—		75		—		18,854		—		18,854		—		—	2020
Charlotte, NC
Domain Point 3	—		11,018		—		—		—		11,018		—		11,018		—		—	2020
Austin, TX
Corporate Center 5 & 6 (e)	—		5,188		—		(10)		—		5,178		—		5,178		—		—	2019
Tampa, FL
Total Commercial Land	—		132,136		—		22,592		—		154,728		—		154,728		—
Total Properties	$	526,968	$	776,840	$	5,303,404	$	65,955	$	2,245,912	$	842,795	$	7,549,316	$	8,392,111	$	1,329,406

COUSINS PROPERTIES INCORPORATED AND SUBSIDIARIES

REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2023

($ in thousands)

NOTES:

(a)Reconciliations of total real estate carrying value and accumulated depreciation as of and for the years ended December 31, 2023, 2022, and 2021 are as follows:

	Real Estate						Accumulated Depreciation
	2023		2022		2021		2023		2022		2021
Balance at beginning of period	$	8,087,846	$	7,714,382	$	7,370,401	$	1,079,662	$	874,988	$	811,196
Additions during the period:
Acquisitions	—		—		723,694		—		—		—
Improvements and other capitalized costs	350,654		436,201		280,823		—		—		—
Depreciation expense	—		—		—		292,433		267,411		246,240
Total Additions	350,654		436,201		1,004,517		292,433		267,411		246,240
Deductions during the period:
Cost of real estate sold	(3,700)		—		(552,201)		—		—		(74,113)
Write off of fully depreciated assets	(42,689)		(62,737)		(108,335)		(42,689)		(62,737)		(108,335)
Total Deductions	(46,389)		(62,737)		(660,536)		(42,689)		(62,737)		(182,448)
Balance at end of period	$	8,392,111	$	8,087,846	$	7,714,382	$	1,329,406	$	1,079,662	$	874,988

(b)The aggregate cost for federal income tax purposes, net of depreciation, was $5.7 billion (unaudited) at December 31, 2023.

(c)Buildings and improvements are depreciated over 30 to 40 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.

(d)Subsequent to the 2019 acquisition, the Company completed development of Domain 10 in 2021 and Domain 12 in 2020.

(e)Some or all of the land at these properties is controlled under an operating ground lease. The Company's Land and Improvements assets are reduced over time by the amortization of the right-of-use assets related to these ground leases.

(f)Some of the land at this property is controlled under a financing ground lease.