Cousins Properties, a self-administered and self-managed real estate investment trust (REIT), has completed the sale of Hearst Tower, its 966,000 square foot office tower in Uptown Charlotte, to Truist Financial Corporation for a gross price of $455.5 million. The building will serve as Truist’s headquarters.
The terms of this transaction did not change from those originally announced on December 11, 2019.
“Cousins is proud to have partnered with Truist as the bank establishes its corporate headquarters in Charlotte,” said Colin Connolly, President and Chief Executive Officer of Cousins Properties.
“After the completion of this sale, Cousins continues to own a large portfolio of trophy office assets in Charlotte and looks forward to future opportunities to create value for our shareholders in this core Sun Belt city.”