Jones Lang LaSalle
Prudential Enters Real Estate Venture with Cousins Properties
Yvonne Darling
NJBIZ Staff
5/4/2006
Prudential Financial’s (NYSE: PRU) Real Estate Investors business and Atlanta’sCousins Properties (NYSE: CUZ) announced late yesterday a deal to develop and manage several commercial real estate projects.
The planned $640 million venture includes five of Cousins' existing retail developments, which the company will continue to manage and lease. These properties include Avenue Peachtree City in Atlanta and Viera MarketCenter in Viera, Fla.
Real Estate Investors oversees more than $20 billion in net assets and is the real estate investment management and advisory arm of Newark-based Prudential. Cousins oversees more than 7 million sq. ft. of office space and 3.8 million sq. ft. of retail space, in addition to other property.
Prudential shares shed 67 cents to $77.91 and Cousins shares slipped 49 cents to $30.35 this morning.
Prudential Enters Real Estate Venture with Cousins Properties
Yvonne Darling
NJBIZ Staff
5/4/2006
Prudential Financial’s (NYSE: PRU) Real Estate Investors business and Atlanta’sCousins Properties (NYSE: CUZ) announced late yesterday a deal to develop and manage several commercial real estate projects.
The planned $640 million venture includes five of Cousins' existing retail developments, which the company will continue to manage and lease. These properties include Avenue Peachtree City in Atlanta and Viera MarketCenter in Viera, Fla.
Real Estate Investors oversees more than $20 billion in net assets and is the real estate investment management and advisory arm of Newark-based Prudential. Cousins oversees more than 7 million sq. ft. of office space and 3.8 million sq. ft. of retail space, in addition to other property.
Prudential shares shed 67 cents to $77.91 and Cousins shares slipped 49 cents to $30.35 this morning.
posted by Jones Lang LaSalle NJ News Blog at 9:56 AM
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