Cousins Properties completed merger with TIER REIT.

Cousins Properties, a real estate investment trust that primarily invests in Class A office towers, completed its $2.3bn merger with TIER REIT that focuses on commercial office properties. Cousins and TIER stockholders own 72% and 28% of the combined company's stock. "The combination of these two highly complementary companies creates the preeminent Sun Belt office REIT with a best-in-class balance sheet. The company will own an unmatched portfolio of trophy office properties in the premier submarkets of Atlanta, Austin, Charlotte, Dallas, Phoenix and Tampa. In addition, the company will be uniquely positioned to drive superior value for shareholders through its highly pre-leased existing development pipeline and well-located strategic land holdings for future development," Colin Connolly, Cousins President and CEO.