Cousins Properties to acquire Sail Tower for $522m.

Cousins Properties, a fully integrated, self-administered and self-managed real estate investment trust, offered to acquire Sail Tower, an 804k sq.ft. trophy lifestyle office property in downtown Austin, for $522m. "We are thrilled to add this iconic office property, with a strong investment grade customer, to our Austin portfolio. Austin continues to exhibit strong demand fundamentals, attracting top talent and growing companies. This exciting transaction enables Cousins to enhance the quality of our leading lifestyle office portfolio and is immediately accretive to earnings," Colin Connolly, Cousins Properties President and CEO.