Cousins Properties Upsizes Credit Facility to $1.2B and Secures 116,000 Sq Ft Oracle Lease
Cousins Properties closed a five-year $1.2 billion unsecured revolver—$200 million more than before—and added two six-month extensions to its $400 million and $100 million loans while trimming spreads by 15–30 basis points over SOFR. It secured a 116,000 sq ft Oracle lease at Neuhoff, enhancing cash-flow visibility in Nashville.
1. Upsized Revolving Credit Facility to $1.2 Billion
Cousins Properties closed on a new five-year, $1.2 billion unsecured revolving credit facility, replacing the prior loan due April 2027 and expanding capacity by $200 million. The company amended its $400 million and $100 million unsecured term loans with two six-month extension options each, improved borrowing spreads by 15 basis points on the revolver and $400 million loan and by 30 basis points on the $100 million loan, and now pays 72.5 basis points over SOFR on the revolver and 80 basis points over SOFR on its term loans; financial covenants remain unchanged.
2. Secured 116,000 Sq Ft Oracle Lease at Neuhoff
The company secured a 116,000 square-foot lease with Oracle at the Neuhoff mixed-use development in Nashville, boosting its cash-flow visibility and reinforcing demand for Class A office space in high-growth Sun Belt markets. This strategic lease aligns with Cousins Properties’ focus on trophy assets and enhances occupancy stability at a key Nashville property.