Cousins Properties Inc – ‘10-Q’ for 6/30/02

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Quarterly Report   —   Form 10-Q
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 1: 10-Q        6/30/02                                               28±   137K 
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 4: EX-99       Form Form 10-Q 6/30/02                                 1      6K 

10-Q   —   6/30/02
Document Table of Contents

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 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 FORM 10-Q

(Mark One)                                                                      
[x]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934                                                           
For the quarterly period ended June 30, 2002
OR
[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES        
EXCHANGE ACT OF 1934                                                  
For the transition period from..............to..............

 Commission file number 0-3576

 COUSINS PROPERTIES INCORPORATED
(Exact name of registrant as specified in its charter)

      Georgia                                       58-0869052
(State or other jurisdiction                           (IRS Employer    
of incorporation or organization)                     Identification No.)   

2500 Windy Ridge Parkway                                            
  Atlanta, Georgia                                    30339-5683
(Address of principal executive offices)                      (Zip Code)        

(770) 995-2200
(Registrant's telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was     
required to file such reports) and (2) has been subject to such filing          
requirements for the past 90 days.                                              

              Yes     X       No
                            ------          ----

As of July 31, 2002, there were 50,033,282 shares of the registrant's common    
stock, par value $1 per share, outstanding.                                     

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PART I.  FINANCIAL INFORMATION                                                  
-------  ---------------------                                                  

Item 1.  Financial Statements                                                   

 COUSINS PROPERTIES INCORPORATED AND CONSOLIDATED ENTITIES
 CONSOLIDATED BALANCE SHEETS
($ in thousands, except share amounts)

                                                       June 30,     December 31,
                                                    2002          2001
                                                     -----------    ------------
                                     (Unaudited)
ASSETS                                                                          
------                                                                          
PROPERTIES:                                                                     
Operating properties, net of accumulated                                  
depreciation of $129,494 as of June 30, 2002                          
    and $106,039 as of December 31, 2001             $  780,906     $  771,119
  Land held for investment or future development         17,069         15,294
  Projects under construction                           136,685        140,833
  Residential lots under development                     15,272         12,520
                                                     ----------     ----------

    Total properties                                    949,932        939,766

CASH AND CASH EQUIVALENTS, at cost which                                        
  approximates market                                     8,867         10,556

NOTES AND OTHER RECEIVABLES                               41,478         39,920 

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES              180,358        185,397 

OTHER ASSETS, including goodwill of $15,612                                     
  in 2002 and 2001                                       37,334         36,377
                                                     ----------     ----------
      TOTAL ASSETS                                   $1,217,969     $1,212,016
                                                     ==========     ==========

LIABILITIES AND STOCKHOLDERS' INVESTMENT                                        
----------------------------------------                                        

NOTES PAYABLE                                         $  600,476     $  585,275 

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES                  25,467         27,149 

DEPOSITS AND DEFERRED INCOME                               2,710          2,422 
                                                     ----------     ----------
      TOTAL LIABILITIES                                 628,653        614,846
                                                     ----------     ----------
DEFERRED GAIN                                            105,574        107,676 
                                                     ----------     ----------
MINORITY INTERESTS                                        27,225         26,821 
                                                     ----------     ----------
COMMITMENTS AND CONTINGENT LIABILITIES                                          

STOCKHOLDERS' INVESTMENT:                                                       
Common stock, $1 par value, authorized                                    
150,000,000 shares; issued 50,615,987                                 
shares at June 30, 2002 and 50,106,100                                
    shares at December 31, 2001                          50,616         50,106
  Additional paid-in capital                            283,903        276,268
Treasury stock at cost, 681,000 shares                                    
     in 2002 and 2001                                    (17,465)       (17,465)
   Unearned compensation                                  (3,076)        (3,580)
  Cumulative undistributed net income                   142,539        157,344
                                                     ----------     ----------
      TOTAL STOCKHOLDERS' INVESTMENT                    456,517        462,673
                                                     ----------     ----------
      TOTAL LIABILITIES AND STOCKHOLDERS' INVESTMENT $1,217,969     $1,212,016
                                                     ==========     ==========

The accompanying notes are an integral part of these consolidated balance       
sheets.                                                                         

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            COUSINS PROPERTIES INCORPORATED AND CONSOLIDATED ENTITIES                               
                        CONSOLIDATED STATEMENTS OF INCOME                                           
            FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2002 AND 2001                               
                                   (UNAUDITED)                                                      
                    (In thousands, except per share amounts)                                        
                                                                 Three Months        Six Months     
                                                                Ended June 30,     Ended June 30,   
                                                              -----------------  -----------------  
                                                                2002      2001     2002       2001  
                                                              -------   -------  -------    ------- 
                                                                                                    
REVENUES:                                                                                           
   Rental property revenues                                   $43,412   $35,979  $82,813    $71,635 
   Development income                                             972     1,636    2,158      3,262 
   Management fees                                              2,288     1,974    4,642      3,445 
   Leasing and other fees                                         696     1,669    1,853      2,290 
   Residential lot and outparcel sales                            521     1,519    4,556      3,907 
   Interest and other                                           1,114     1,498    2,249      3,093 
                                                              -------   -------  -------    ------- 
                                                               49,003    44,275   98,271     87,632 
                                                              -------   -------  -------    ------- 
INCOME FROM UNCONSOLIDATED JOINT VENTURES                       6,601     5,640   13,630     11,145 
                                                              -------   -------  -------    ------- 
COSTS AND EXPENSES:                                                                                 
   Rental property operating expenses                          12,018    10,480   23,527     21,094 
   General and administrative expenses                          6,972     6,841   14,267     12,942 
   Depreciation and amortization                               13,347    11,039   25,366     21,622 
   Stock appreciation right expense (credit)                       (7)      122       34       (136)
   Residential lot and outparcel cost of sales                    444     1,354    3,414      3,353 
   Interest expense                                             9,557     6,550   18,089     13,721 
   Property taxes on undeveloped land                             174       173      350        341 
   Other                                                        1,277     1,648    2,264      2,050 
                                                              -------   -------  -------    ------- 
                                                               43,782    38,207   87,311     74,987 
                                                              -------   -------  -------    ------- 
INCOME FROM OPERATIONS BEFORE INCOME TAXES                                                          
   AND GAIN ON SALE OF INVESTMENT PROPERTIES AND                                                    
   EXTRAORDINARY LOSS                                          11,822    11,708   24,590     23,790 
PROVISION (BENEFIT) FOR INCOME TAXES FROM                                                           
   OPERATIONS                                                     152       227    1,174       (713)
                                                              -------   -------  -------    ------- 
INCOME BEFORE GAIN ON SALE OF INVESTMENT                                                            
   PROPERTIES AND EXTRAORDINARY LOSS                           11,670    11,481   23,416     24,503 
GAIN ON SALE OF INVESTMENT PROPERTIES, NET OF                                                       
   APPLICABLE INCOME TAX PROVISION                              1,042     1,077    2,072     19,422 
                                                              -------   -------  -------    ------- 
INCOME BEFORE EXTRAORDINARY LOSS                               12,712    12,558   25,488     43,925 
EXTRAORDINARY LOSS                                                  -         -    3,501          - 
                                                              -------   -------  -------    ------- 
NET INCOME                                                    $12,712   $12,558  $21,987    $43,925 
                                                              =======   =======  =======    ======= 
WEIGHTED AVERAGE SHARES                                        49,617    49,256   49,493     49,178 
                                                              =======   =======  =======    ======= 
BASIC NET INCOME PER SHARE:                                                                         
   Income before extraordinary loss                           $   .26   $   .25  $   .51    $   .89 
   Extraordinary loss                                               -         -      .07          - 
                                                              -------   -------  -------    ------- 
   Basic net income per share                                 $   .26   $   .25  $   .44    $   .89 
                                                              =======   =======  =======    ======= 
DILUTED WEIGHTED AVERAGE SHARES                                50,621    50,395   50,447     50,301 
                                                              =======   =======  =======    ======= 
DILUTED NET INCOME PER SHARE:                                                                       
   Income before extraordinary loss                           $   .25   $   .25  $   .51    $   .87 
   Extraordinary loss                                               -         -      .07          - 
                                                              -------   -------  -------    ------- 
   Diluted net income per share                               $   .25   $   .25  $   .44    $   .87 
                                                              =======   =======  =======    ======= 
CASH DIVIDENDS DECLARED PER SHARE                             $   .37   $   .34  $   .74    $   .68 
                                                              =======   =======  =======    ======= 

The accompanying notes are an integral part of these consolidated statements.                       

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            COUSINS PROPERTIES INCORPORATED AND CONSOLIDATED ENTITIES                                 
                      CONSOLIDATED STATEMENTS OF CASH FLOWS                                           
                 FOR THE SIX MONTHS ENDED JUNE 30, 2002 AND 2001                                      
                                   (UNAUDITED)                                                        
                                ($ in thousands)                                                      

                                                                                    2002       2001   
                                                                                  --------   -------- 
CASH FLOWS FROM OPERATING ACTIVITIES:                                                                 
                                                                                                      
   Income before gain on sale of investment properties and extraordinary loss     $ 23,416   $ 24,503 
   Adjustments to reconcile income before gain on sale of investment                                  
     properties and extraordinary loss to net cash provided by operating                              
     activities:                                                                                      
       Depreciation and amortization, net of minority interest's share              25,366     21,526 
       Amortization of unearned compensation                                           299        556 
       Stock appreciation right expense (credit)                                        34       (136)
       Cash charges to expense accrual for stock appreciation rights                  (288)      (373)
       Effect of recognizing rental revenues on a straight-line basis               (1,092)    (1,597)
       Income from unconsolidated joint ventures                                   (13,630)   (11,145)
       Operating distributions from unconsolidated joint ventures                   21,744     14,777 
       Residential lot and outparcel cost of sales                                   2,741      2,684 
     Changes in other operating assets and liabilities:                                               
         Change in other receivables                                                   185        402 
         Change in accounts payable and accrued liabilities                         (1,829)    (2,608)
                                                                                  --------   -------- 
Net cash provided by operating activities                                           56,946     48,589 
                                                                                  --------   -------- 
CASH FLOWS FROM INVESTING ACTIVITIES:                                                                 
   Gain on sale of investment properties, net of applicable income tax provision     2,072     19,422 
   Adjustments to reconcile gain on sale of investment properties                                     
     to net cash provided by sales activities:                                                        
       Cost of sales                                                                     -     35,674 
       Deferred income recognized                                                   (2,062)    (2,023)
       Non-cash gain on disposition of leasehold interests                               -       (236)
   Property acquisition and development expenditures                               (36,193)   (82,443)
   Investment in unconsolidated joint ventures, including interest                                    
     capitalized to equity investments                                              (3,075)   (18,723)
   (Investment in) collection of notes receivable, net                                (652)       869 
   Net cash paid in acquisition of business                                              -     (2,126)
   Change in other assets, net                                                      (1,983)    (3,999)
                                                                                  --------   -------- 
Net cash used in investing activities                                              (41,893)   (53,585)
                                                                                  --------   -------- 
CASH FLOWS FROM FINANCING ACTIVITIES:                                                                 
   Proceeds from credit facility                                                   119,426    137,324 
   Repayment of credit facility                                                   (184,497)  (131,781)
   Proceeds from other notes payable                                               150,000     31,000 
   Repayment of other notes payable                                                (69,728)    (2,746)
   Dividends paid                                                                  (36,792)   (33,513)
   Common stock sold, net of expenses                                                8,350      7,745 
   Extraordinary loss                                                               (3,501)         - 
                                                                                  --------   -------- 
Net cash (used in) provided by financing activities                                (16,742)     8,029 
                                                                                  --------   -------- 
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS                                (1,689)     3,033 
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                                    10,556      1,696 
                                                                                  --------   -------- 
CASH AND CASH EQUIVALENTS AT END OF PERIOD                                        $  8,867   $  4,729 
                                                                                  ========   ======== 

The accompanying notes are an integral part of these consolidated statements.                         


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 COUSINS PROPERTIES INCORPORATED AND CONSOLIDATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 JUNE 30, 2002
 (UNAUDITED)

1.   BASIS OF PRESENTATION                                                      
--------------------------                                                      

The Consolidated Financial Statements include the accounts of 
Cousins Properties  Incorporated ("Cousins"), its majority owned partnerships   
and wholly owned subsidiaries, Cousins Real Estate Corporation ("CREC") and its 
subsidiaries and CREC II Inc. ("CREC II") and its subsidiaries. All of the      
entities included in the Consolidated Financial Statements are hereinafter      
referred to collectively as the "Company."                                      

   Cousins has elected to be taxed as a real estate investment trust
("REIT"), and intends to distribute 100% of its federal taxable income to       
stockholders, thereby eliminating any liability for future corporate federal    
income taxes. Therefore, the results included herein do not include a federal   
income tax provision for Cousins. However, CREC and its subsidiaries and CREC II
and its subsidiaries are taxed separately from Cousins as regular corporations. 
Accordingly, the Consolidated Statements of Income include a provision (benefit)
for CREC and CREC II's income taxes.                                            

    The Consolidated Financial Statements were prepared by the Company
without audit, but in the opinion of management reflect all adjustments         
necessary (which adjustments are of a normal and recurring nature) for the fair 
presentation of the Company's financial position as of June 30, 2002 and results
of operations for the three and six month periods ended June 30, 2002 and 2001. 
Results of operations for the interim 2002 period are not necessarily indicative
of results expected for the full year. While certain information and footnote   
disclosures normally included in financial statements prepared in accordance    
with accounting principles generally accepted in the United States have been    
condensed or omitted pursuant to the rules and regulations of the Securities and
Exchange Commission, the Company believes that the disclosures herein are       
adequate to make the information presented not misleading. These condensed      
financial statements should be read in conjunction with the Consolidated        
Financial Statements and the notes thereto included in the Company's Annual     
Report on Form 10-K for the year ended December 31, 2001. The accounting        
policies employed are the same as those shown in Note 1 to the Consolidated     
Financial Statements included in such Form 10-K.                                

2.   SUPPLEMENTAL INFORMATION CONCERNING CASH FLOWS                             
---------------------------------------------------                             

         Interest paid (net of $3,130,000 and $4,730,000 capitalized in 2002 and
2001, respectively) and income taxes (refunded) paid were as follows for the six
months ended June 30, 2002 and 2001 ($ in thousands):                           

                                   2002             2001
                                  -------          -------

Interest paid                     $16,954          $14,242
Income taxes (refunded) paid      $(1,168)         $   200

      During the six months ended June 30, 2002, approximately $26,836,000
was transferred from Projects Under Construction to Operating Properties.       

3.   NOTES PAYABLE AND INTEREST EXPENSE                                         
---------------------------------------                                         

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         At June 30, 2002 and December 31, 2001, notes payable included the                                 
following ($ in thousands):                                                                                 
                                           June 30, 2002                         December 31, 2001          
                              ------------------------------------     -------------------------------------
                                             Share of                               Share of                
                                          Unconsolidated                         Unconsolidated             
                               Company    Joint Ventures    Total       Company  Joint Ventures      Total  
                              --------    --------------  --------     --------  ---------------   ---------

                                                                                                            
Floating Rate Credit Facility                                                                               
   and Floating Rate Debt     $ 88,745       $  7,114     $ 95,859     $153,816       $  7,614      $161,430
Other Debt                                                                                                  
   (primarily non-recourse                                                                                  
     fixed rate mortgages)     511,731        263,838      775,569      431,459        268,299       699,758
                              --------       --------     --------     --------       --------      --------
                              $600,476       $270,952     $871,428     $585,275       $275,913      $861,188
                              ========       ========     ========     ========       ========      ========
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         For the three and six months ended June 30, 2002, interest expense was                           
recorded as follows ($ in thousands):                                                                     
                                        Three Months Ended                       Six Months Ended         
                                           June 30, 2002                           June 30, 2002          
                               ------------------------------------    -----------------------------------
                                             Share of                               Share of              
                                          Unconsolidated                         Unconsolidated           
                               Company    Joint Ventures     Total     Company   Joint Ventures     Total 
                               -------    --------------    -------    -------   --------------    -------
                                                                                                          
     Interest Expensed         $ 9,557        $4,808        $14,365    $18,089       $9,678        $27,767
     Interest Capitalized        1,233             -          1,233      3,130            -          3,130
                               -------        ------        -------    -------       ------        -------
                               $10,790        $4,808        $15,598    $21,219       $9,678        $30,897
                               =======        ======        =======    =======       ======        =======

       During the first six months of 2002, interest was capitalized related
to the Company's and the Company's share of unconsolidated joint venture        
projects under construction which had an average balance of approximately $97   
million.                                                                        

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4.  EARNINGS PER SHARE DATA                                                                          
---------------------------                                                                          
         Weighted average shares and diluted weighted average shares are as                          
follows (in thousands):                                                                              
                                                             Three Months Ended    Six Months Ended  
                                                                  June 30,             June 30,      
                                                            --------------------  -------------------
                                                             2002          2001    2002         2001 
                                                            ------        ------  ------       ------
                                                                                                     
               Weighted average shares                      49,617        49,256  49,493       49,178
               Dilutive potential common shares              1,004         1,139     954        1,123
                                                            ------        ------  ------       ------
               Diluted weighted average shares              50,621        50,395  50,447       50,301
                                                            ======        ======  ======       ======
               Anti-dilutive options not included              892           901     935          901
                                                            ======        ======  ======       ======

5.  NEW ACCOUNTING PRONOUNCEMENTS                                               
---------------------------------                                               

         In June 2001, the Financial Accounting Standards Board issued Statement
of Financial Accounting Standards No. 142, "Goodwill and Other Intangible       
Assets" ("SFAS 142"). Under the provisions of SFAS 142, there will be no        
amortization of goodwill and other intangible assets that have indefinite useful
lives. Instead, these assets must be tested for impairment upon the adoption of 
SFAS 142 and annually thereafter. The Company has goodwill totaling             
approximately $15.6 million which is subject to SFAS 142. The Company adopted   
SFAS 142 effective January 1, 2002 and completed its initial impairment test of 
this goodwill in the first quarter of 2002, which resulted in no impairment.    
Amortization expense recorded related to this goodwill was approximately        
$180,000 and $291,000 for the three and six months ended June 30, 2001,         
respectively. Had amortization expense not been recorded in 2001, diluted       
earnings per share would have been $.25 and $.88 for the three and six month    
2001 periods, respectively.                                                     

 In August 2001, SFAS No. 144, "Accounting for the Impairment or
Disposal of Long-Lived Assets," was issued, which the Company adopted effective 
January 1, 2002. SFAS No. 144 addresses financial accounting and reporting for  
the impairment of long-lived assets and long-lived assets to be disposed of.    
This statement supersedes SFAS No. 121, "Accounting for the Impairment of       
Long-Lived Assets and for Long-Lived Assets to Be Disposed Of," and establishes 
criteria beyond that previously specified in SFAS No. 121 to determine when a   
long-lived asset is to be considered as held for sale. The Company believes that
the impairment provisions of SFAS No. 144 are similar to SFAS No. 121 and the   
adoption had no impact on the Company's financial statements. SFAS No. 144 also 
requires that the gains and losses from the disposition of certain real estate  
assets and the related historical operating results be included in discontinued 
operations in the statements of income for all periods presented. In the normal 
course of business, the Company recycles invested capital by disposing of       
existing assets and redeploying the proceeds in order to enhance total returns  
to stockholders. Although net income will not be affected, the Company will     
reclassify results previously included in continuing operations to discontinued 
operations for any qualifying dispositions it may have in the future in         
accordance with SFAS No. 144.                                                   

6.   REFINANCING OF BANK OF AMERICA PLAZA                                       
-----------------------------------------                                       

       On February 22, 2002, CSC Associates, L.P. ("CSC"), a 50% owned joint
venture, completed a $150 million non-recourse mortgage note payable with an    
interest rate of 6.9575% and a maturity of March 1, 2012. This non-recourse     
mortgage note payable is secured by CSC's interest in the Bank of America Plaza 
building and related leases and agreements. CSC loaned the $150 million proceeds
of the non-recourse mortgage note payable to the Company under a non-recourse   
loan (the "Cousins Loan") secured by the Company's interest in CSC under the    
same payment terms as those of the non-recourse mortgage note payable. The      
Company paid all costs of issuing the non-recourse mortgage note payable and the
Cousins Loan, including a $750,000 fee to an affiliate of Bank of America       
Corporation.                                                                    

        On March 15, 2002, $65,873,925 of the proceeds from this financing was
used to pay off in full the existing collateralized non-recourse mortgage notes 
("existing mortgage notes"). The $65,873,925 included $65,525,710 for the payoff
of the principal balance as of February 15, 2002 (the last payment date of the  
existing mortgage notes) and $348,215 for accrued interest from February 15,    
2002 through March 14, 2002. The existing non-recourse loan to CSC, which is    
secured by the Company's interest in CSC under the same payment terms as those  
of the existing mortgage notes, was also repaid in full.                        

    In connection with the prepayment in full of the existing mortgage
notes, the Company paid a prepayment premium in the amount of $2,871,925. This  
prepayment premium of $2,871,295, along with the unamortized balance of closing 
costs paid by the Company related to the existing mortgage notes in the amount  
of $629,278, were expensed as an Extraordinary Item in the accompanying         
Consolidated Statements of Income.                                              

7.  REPORTABLE SEGMENTS                                                         
-----------------------                                                         

    The Company has three reportable segments: Office Division, Retail
Division and Land Division. The Office Division and Retail Division develop,    
lease and manage office buildings and retail centers, respectively. The Land    
Division owns various tracts of strategically located land which are being held 
for sale or future development. The Land Division also develops single-family   
residential communities which are parceled into lots and sold to various home   
builders.                                                                       

The management of the Company evaluates the performance of its
reportable segments based on Funds From Operations ("FFO"). The Company         
calculates its FFO using the National Association of Real Estate Investment     
Trusts ("NAREIT") definition of FFO adjusted to (i) eliminate the recognition of
rental revenues on a straight-line basis and (ii) reflect stock appreciation    
right expense on a cash basis. The Company believes its FFO presentation more   
properly reflects its operating results. The Company's reportable segments are  
broken down based on what type of product the division provides. The divisions  
are managed separately because each product they provide has separate and       
distinct development issues, leasing and/or sales strategies and management     
issues. The notations (100%) and (JV) used in the following tables indicate     
wholly owned and unconsolidated joint ventures, respectively, and all amounts   
are in thousands.                                                               

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Three Months Ended                            Office      Retail      Land      Unallocated             
June 30, 2002                                Division    Division   Division     and Other       Total  
------------------                           --------    --------   --------    -----------     ------- 

                                                                                                        
Rental property revenues (100%)               $33,298     $ 9,906    $    -      $    25        $43,229 
Rental property revenues (JV)                  19,377         632         -            -        20,009  
Development income, management                                                                          
   fees and leasing and other fees (100%)       3,467         414        75            -         3,956  
Development income, management                                                                          
   fees and leasing and other fees (JV)             -           -         -            -             -  
Other income (100%)                                 -           -       521        1,114         1,635  
Other income (JV)                                   -           -       408            -           408  
                                              --------------------------------------------------------  
         Total revenues                        56,142      10,952     1,004        1,139        69,237  
                                              --------------------------------------------------------  
Rental property operating expenses (100%)      10,243       2,293         -            1        12,537  
Rental property operating expenses (JV)         5,715         150         -            -         5,865  
Other expenses (100%)                           4,719       1,539       978       11,583        18,819  
Other expenses (JV)                                 -           -        11        3,293         3,304  
                                              --------------------------------------------------------  
         Total expenses                        20,677       3,982       989       14,877        40,525  
                                              --------------------------------------------------------  
Consolidated funds from operations             35,465       6,970        15      (13,738)       28,712  
                                              --------------------------------------------------------  
Depreciation and amortization (100%)           (9,555)     (3,260)        -           (2)       (12,817)
Depreciation and amortization (JV)             (4,340)       (234)        -            -        (4,574) 
Effect of the recognition of rental                                                                     
   revenues on a straight-line basis (100%)       183           -         -            -           183  
Effect of the recognition of rental                                                                     
   revenues on a straight-line basis (JV)         (73)          -         -            -           (73) 
Adjustment to reflect stock appreciation                                                                
   right expense on an accrual basis                -           -         -          239           239  
Gain on sale of investment properties, net                                                              
   of applicable income tax provision             473         569         -            -         1,042  
                                              --------------------------------------------------------  
Net income                                     22,153       4,045        15      (13,501)       12,712  
                                              --------------------------------------------------------  
Provision for income taxes from operations          -           -         -          152           152  

                                              --------------------------------------------------------  
Income from operations before taxes           $22,153     $ 4,045    $   15     $(13,349)      $12,864  
                                              ========================================================  

                                                        [Enlarge/Download Table]


Six Months Ended                              Office      Retail      Land      Unallocated              
June 30, 2002                                Division    Division   Division     and Other       Total   
----------------                             --------    --------   --------    -----------   ---------- 

                                                                                                         
Rental property revenues (100%)              $ 63,225    $ 18,443    $     -     $    53      $   81,721 
Rental property revenues (JV)                  38,273       1,261          -           -          39,534 
Development income, management                                                                           
   fees and leasing and other fees (100%)       7,613         793        247           -           8,653 
Development income, management                                                                           
   fees and leasing and other fees (JV)             -           -          -           -               - 
Other income (100%)                                 -           -      4,556       2,249           6,805 
Other income (JV)                                   -           -      1,452           -           1,452 
                                             ----------------------------------------------------------- 
         Total revenues                       109,111      20,497      6,255       2,302         138,165 
                                             ----------------------------------------------------------- 
Rental property operating expenses (100%)      19,853       4,388          -           5          24,246 
Rental property operating expenses (JV)        11,462         321          -           -          11,783 
Other expenses (100%)                           9,438       3,110      4,454      23,177          40,179 
Other expenses (JV)                                 -           -         25       6,642           6,667 
                                             ----------------------------------------------------------- 
         Total expenses                        40,753       7,819      4,479      29,824          82,875 
                                             ----------------------------------------------------------- 
Consolidated funds from operations             68,358      12,678      1,776     (27,522)         55,290 
                                             ----------------------------------------------------------- 
Depreciation and amortization (100%)          (18,186)     (6,126)         -          (3)        (24,315)
Depreciation and amortization (JV)             (8,372)       (477)         -           -          (8,849)
Effect of the recognition of rental                                                                      
   revenues on a straight-line basis (100%)     1,092           -          -           -           1,092 
Effect of the recognition of rental                                                                      
   revenues on a straight-line basis (JV)         (56)          -          -           -             (56)
Adjustment to reflect stock appreciation                                                                 
   right expense on an accrual basis                -           -          -         254             254 
Gain on sale of investment properties, net                                                               
   of applicable income tax provision             947       1,125          -           -           2,072 
Extraordinary loss                                  -           -          -      (3,501)         (3,501)
                                             ----------------------------------------------------------- 
Net income                                     43,783       7,200      1,776     (30,772)         21,987 
                                             ----------------------------------------------------------- 
Provision for income taxes from operations          -           -          -       1,174           1,174 
                                             ----------------------------------------------------------- 
Income from operations before taxes          $ 43,783    $  7,200    $ 1,776     $(29,598)    $   23,161 
                                             =========================================================== 
Total assets                                 $850,205    $262,914    $28,004     $76,846      $1,217,969 
                                             =========================================================== 
Investment in unconsolidated joint ventures  $151,837    $ 16,556    $11,965     $     -      $  180,358 
                                             =========================================================== 


                                                        [Enlarge/Download Table]


Reconciliation to Consolidated Revenues                                                  
---------------------------------------                                                  
                                              Three Months Ended       Six Months Ended  
                                                   June 30,                June 30,      
                                             ---------------------  ---------------------
                                               2002          2001     2002          2001 
                                             -------       -------  -------       -------
                                                                                         
Rental property revenues (100%)              $43,229       $35,644  $81,721       $70,054
Effect of the recognition of rental                                                      
   revenues on a straight-line basis (100%)      183           335    1,092         1,581
Development income, management fees                                                      
   and leasing and other fees (100%)           3,956         5,279    8,653         8,997
Residential lot and outparcel sales              521         1,519    4,556         3,907
Interest and other                             1,114         1,498    2,249         3,093
                                             ---------------------  ---------------------
Total consolidated revenues                  $49,003       $44,275  $98,271       $87,632
                                             =====================  =====================

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Three Months Ended                            Office      Retail      Land      Unallocated             
June 30, 2001                                Division    Division   Division     and Other       Total  
------------------                           --------    --------   --------    -----------     ------- 

                                                                                                        
Rental property revenues (100%)              $27,578      $7,976     $   --      $     90       $35,644 
Rental property revenues (JV)                 16,899         604         --            --        17,503 
Development income, management                                                                          
   fees and leasing and other fees (100%)      4,896         275        108            --         5,279 
Development income, management                                                                          
   fees and leasing and other fees (JV)           --          --         --            --             - 
Other income (100%)                               --          --      1,519         1,498         3,017 
Other income (JV)                                 --          --        624             -           624 
                                             ---------------------------------------------------------- 
         Total revenues                       49,373       8,855      2,251         1,588        62,067 
                                             ---------------------------------------------------------- 
Rental property operating expenses (100%)      8,603       2,396         --            49        11,048 
Rental property operating expenses (JV)        4,992         173         --            --         5,165 
Other expenses (100%)                          3,954       1,696      1,697         9,569        16,916 
Other expenses (JV)                               --          --          1         3,464         3,465 
                                             ---------------------------------------------------------- 
         Total expenses                       17,549       4,265      1,698        13,082        36,594 
                                             ---------------------------------------------------------- 
Consolidated funds from operations            31,824       4,590        553       (11,494)       25,473 
                                             ---------------------------------------------------------- 
Depreciation and amortization (100%)          (8,367)     (2,349)        --            (2)      (10,718)
Depreciation and amortization (JV)            (3,793)       (216)        --            --        (4,009)
Effect of the recognition of rental                                                                     
   revenues on a straight-line basis (100%)      335          --         --            --           335 
Effect of the recognition of rental                                                                     
   revenues on a straight-line basis (JV)        152          --         --            --           152 
Adjustment to reflect stock appreciation                                                                
   right expense on an accrual basis              --          --         --           248           248 
Gain on sale of investment properties, net                                                              
   of applicable income tax provision            475         593          9            --         1,077 
                                             ---------------------------------------------------------- 
Net income                                    20,626       2,618        562       (11,248)       12,558 
                                             ---------------------------------------------------------- 
Provision for income taxes from operations        --          --         --           227           227 
                                             ---------------------------------------------------------- 
Income from operations before taxes          $20,626      $2,618     $  562      $(11,021)      $12,785 
                                             ========================================================== 

                                                        [Enlarge/Download Table]


Six Months Ended                              Office      Retail      Land      Unallocated             
June 30, 2001                                Division    Division   Division     and Other      Total   
----------------                             --------    --------   --------    -----------   --------- 

                                                                                                        
Rental property revenues (100%)              $ 53,124    $ 16,765    $    --     $   165      $  70,054 
Rental property revenues (JV)                  35,783       1,202         --          --         36,985 
Development income, management                                                                          
   fees and leasing and other fees (100%)       8,092         731        174          --          8,997 
Development income, management                                                                          
   fees and leasing and other fees (JV)         1,050          --         --          --          1,050 
Other income (100%)                                --          --      3,907       3,093          7,000 
Other income (JV)                                  --          --        892          25            917 
                                             ---------------------------------------------------------- 
         Total revenues                        98,049      18,698      4,973       3,283        125,003 
                                             ---------------------------------------------------------- 
Rental property operating expenses (100%)      16,924       4,690         --          50         21,664 
Rental property operating expenses (JV)        10,601         329         --          --         10,930 
Other expenses (100%)                           5,405       3,235      4,096      19,528         32,264 
Other expenses (JV)                                --          --         24       9,182          9,206 
                                             ---------------------------------------------------------- 
         Total expenses                        32,930       8,254      4,120      28,760         74,064 
                                             ---------------------------------------------------------- 
Consolidated funds from operations             65,119      10,444        853     (25,477)        50,939 
Depreciation and amortization (100%)          (16,073)     (4,779)        --          (3)       (20,855)
Depreciation and amortization (JV)             (7,677)       (426)        --          --         (8,103)
Effect of the recognition of rental                                                                     
   revenues on a straight-line basis (100%)     1,581          --         --          --          1,581 
Effect of the recognition of rental                                                                     
   revenues on a straight-line basis (JV)         432          --         --          --            432 
Adjustment to reflect stock appreciation                                                                
   right expense on an accrual basis               --          --         --         509            509 
Gain on sale of investment properties, net                                                              
   of applicable income tax provision           1,185      18,228          9          --         19,422 
                                             ---------------------------------------------------------- 
Net income                                     44,567      23,467        862     (24,971)        43,925 
                                             ---------------------------------------------------------- 
Benefit for income taxes from operations           --          --         --        (713)          (713)
                                             ---------------------------------------------------------- 
Income from operations before taxes          $ 44,567    $ 23,467    $   862     $(25,684)    $  43,212 
                                             ========================================================== 
Total assets                                 $815,197    $260,934    $16,640     $70,323      $1,163,094
                                             ========================================================== 

Investment in unconsolidated joint ventures  $152,502    $ 16,988    $ 9,285     $     -      $ 178,775 
                                             ========================================================== 

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PART I.  FINANCIAL INFORMATION                                                  
------------------------------                                                  

Item 2.       Management's Discussion and Analysis of Financial Condition and   
             Results of Operations for the Three and Six Months Ended June 30,
2002 and 2001                                       

Critical Accounting Policies:                                                   
-----------------------------                                                   

    A critical accounting policy is one which is both important to the
portrayal of a company's financial condition and results and requires           
significant judgment or complex estimation processes. As the Company is in the  
business of developing, owning and managing office and retail real estate       
properties and developing single-family residential communities which are       
parceled into lots and sold to various home builders, its critical accounting   
policies relate to cost capitalization, depreciation and amortization,          
impairment of long-lived assets and residential lot sales profit recognition.   

  The Company expenses predeveloment costs incurred on a potential
project until it becomes probable that the project will go forward. After a     
project becomes probable, all subsequently incurred predevelopment costs, as    
well as interest, real estate taxes, and certain internal personnel and         
associated costs directly related to the project under development are          
capitalized. If the decision is made to not commence development of a project   
that had been deemed probable, all previously capitalized costs are expensed.   
From the date a project receives its certificate of occupancy and for one year  
thereafter, the Company continues capitalizing interest, real estate taxes and  
certain internal personnel and associated costs directly related to the project 
under development based on the portion of the project which remains under       
construction.                                                                   

         When a project is completed and placed in service, it is depreciated on
a straight-line basis over its estimated useful life. Projects which the Company
developed are depreciated over 30 to 40 years and projects the Company acquired 
are depreciated over 15 to 30 years. Leasehold improvements are amortized over  
the lesser of the life of the applicable lease or the estimated useful life of  
the asset.                                                                      

       As required by accounting principles generally accepted in the United
States, the Company periodically evaluates its real estate assets to determine  
if there has been any impairment in their carrying values and records impairment
losses if the undiscounted cash flows estimated to be generated by those assets 
are less than the assets' carrying amounts or there are other indicators of     
impairment. At June 30, 2002, the Company did not own any real estate assets    
that were impaired.                                                             

       In its determination of the gross profit percentages to be applied to
its residential lot sales in order to calculate the profits to be recognized on 
these sales, the Company utilizes several estimates. Gross profit percentages   
are calculated based on the estimated lot sales prices divided by the estimated 
costs of the development. The Company must estimate the prices of the lots to be
sold, the costs to complete the development of the residential community and the
time period over which the lots, once completed, will be ultimately sold.       

Results of Operations:                                                          
----------------------                                                          

  Rental Property Revenues and Operating Expenses. Rental property
revenues increased approximately $7,433,000 and $11,178,000 in the three and six
month 2002 periods, respectively. Rental property revenues from the Company's   
office portfolio increased approximately $5,568,000 and $9,612,000 in the three 
and six month 2002 periods, respectively. Two office buildings, Cerritos        
Corporate Center-Phase II and 55 Second Street, which became partially          
operational for financial reporting purposes in June 2001 and February 2002,    
respectively, contributed approximately $763,000 and $1,672,000 in the three and
six month 2002 periods, respectively, and $4,297,000 and $6,901,000 in the three
and six month 2002 periods, respectively, to the increase. Additionally, rental 
property revenues from 101 Second Street increased approximately $731,000 and   
$867,000 in the three and six month 2002 periods, respectively, primarily due to
the recognition of a termination fee paid to effect the early termination of a  
tenant's lease of approximately $778,000 in the three month 2002 period. Rental 
property revenues at the 3301 Windy Ridge Parkway Building increased            
approximately $285,000 in the six month 2002 period due to the renewal of the   
single tenant's lease at a higher rental rate beginning May 2001. Furthermore,  
rental property revenues from 1900 Duke Street, which became partially          
operational for financial reporting purposes in October 2000, increased         
approximately $314,000 in the six month 2002 period, and rental property        
revenues from Meridian Mark Plaza increased approximately $290,000 in the six   
month 2002 period, as its average economic occupancy increased from 94% in 2001 
to 97% in 2002. The increases in rental property revenues were partially offset 
by decreases of approximately $557,000 and $1,148,000 in the three and sixth    
month 2002 periods, respectively, from The Points at Waterview, as its average  
economic occupancy for the six month period decreased from 96% in 2001 to 49% in
2002.                                                                           

        Rental property revenues from the Company's retail portfolio increased
approximately $1,930,000 and $1,678,000 in the three and six month 2002 periods,
respectively. Rental property revenues increased approximately $1,135,000 and   
$1,905,000 in the three and six month 2002 periods, respectively, from The      
Avenue Peachtree City due both to the property becoming partially operational   
for financial reporting purposes in March 2001 and to the recognition of a      
termination fee of approximately $719,000 in the three month 2002 period. Rental
property revenues increased approximately $619,000 and $713,000 in the three and
six month 2002 periods, respectively, from The Avenue of the Peninsula, as its  
average economic occupancy for the six month period increased from 72% in 2001  
to 79% in 2002. Rental property revenues from Presidential MarketCenter         
increased approximately $222,000 in the six month 2002 period, as its average   
economic occupancy increased from 91% in 2001 to 98% in 2002. Rental property   
revenues decreased approximately $1,064,000 in the six month 2002 period from   
the February 2001 sale of Colonial Plaza MarketCenter, which partially offset   
the increase in rental property revenues in the six month 2002 period.          

       The Company expects additional termination fees will be recognized as
rental property revenues during the second half of 2002 as a result of its      
ongoing negotiations to terminate leases with other tenants in certain of its   
properties. In August 2002, the Company did enter into a termination agreement  
with Arthur Andersen which terminated its 148,000 square foot lease at 101      
Second Street. The result of the termination agreement with Arthur Andersen will
not have a material impact on rental property revenues in 2002. However, there  
will be no economic benefit to the Company or its rental property revenues from 
the Arthur Andersen lease in 2003 and beyond. The Company is in active          
negotiations with prospective tenants to lease approximately one-half of the    
Arthur Andersen and Reflect.com space located in 101 Second Street. While the   
Company is hopeful, there is no guarantee that these negotiations will result in
executed leases. In addition, the San Francisco market continues to be a        
difficult leasing market. Due to the uncertainties surrounding both the ongoing 
negotiations and the market, the Company cannot currently estimate the result of
its efforts to re-lease the 101 Second Street building and the resulting impact 
on rental property revenues in 2003 and beyond.                                 

       Rental property operating expenses increased approximately $1,538,000
and $2,433,000 in the three and six month 2002 periods, respectively, due to the
aforementioned office buildings and retail center becoming partially operational
for financial reporting purposes. The increase in rental property operating     
expenses in the six month 2002 period was partially offset by a decrease in     
rental property operating expenses of approximately $316,000 from the           
aforementioned sale of Colonial Plaza MarketCenter.                             

         Development Income. Development income decreased approximately $664,000
and $1,104,000 in the three and six month 2002 periods, respectively.           
Development income decreased approximately $570,000 and $642,000 in the three   
and six month 2002 periods, respectively, from CPI/FSP I, L.P., as construction 
of Austin Research Park Buildings III and IV was completed. Additionally,       
development income decreased approximately $209,000 in the six month 2002 period
from 285 Venture, LLC, as construction of 1155 Perimeter Center West was        
completed, and approximately $409,000 in the six month 2002 period from the     
third party development of the Turner Tower. The decrease in development income 
was partially offset by an increase in development income of approximately      
$234,000 in the six month 2002 period from the third party retail redevelopment 
of a center in Albuquerque.                                                     

       Management Fees. Management fees increased approximately $314,000 and
$1,197,000 in the three and six month 2002 periods, respectively. Management    
fees increased approximately $233,000 and $1,005,000 in the three and six month 
2002 periods, respectively, from Cousins Properties Services LP ("CPS").        
Effective March 1, 2001, CREC II purchased the remaining 25% interest in CPS at 
which point the operations of CPS were consolidated, whereas the operations had 
been previously accounted for using the equity method of accounting and         
therefore recognized as joint venture income. Approximately $301,000 and        
$612,000 of the CPS increase in the three and six month 2002 periods,           
respectively, was from the Concourse Corporate Center in Atlanta, Georgia, of   
which CPS commenced management in October 2001. Additionally, management fees   
increased by approximately $107,000 in the six month 2002 period from CPI/FSP I,
L.P., as Austin Research Park Buildings III and IV became partially operational 
for financial reporting purposes in June 2001 and September 2001, respectively. 

        Leasing and Other Fees. Leasing and other fees decreased approximately
$973,000 and $437,000 in the three and six month 2002 periods, respectively.    
Leasing and other fees decreased approximately $544,000 in both the three and   
six month 2002 periods from CPI/FSP I, L.P., as leasing fees were recognized for
Austin Research Park Buildings III and IV in 2001. A decrease in leasing and    
other fees from CPS also contributed to the decrease by approximately $365,000  
in the three month 2002 period due to a significant third party leasing fee     
recognized in the three month 2001 period. Leasing and other fees also decreased
approximately $100,000 in the three month 2002 period from 285 Venture, LLC from
leasing fees recognized in the three month 2001 period related to the lease-up  
of 1155 Perimeter Center West. Furthermore, leasing and other fees decreased    
approximately $143,000 in the six month 2002 period from CSC Associates, L.P.,  
which owns Bank of America Plaza, and approximately $151,000 in the six month   
2002 period from CP Venture Two, LLC. Leasing and other fees from CPS increased 
approximately $256,000 in the six month 2002 period, which partially offset the 
six month 2002 decrease in leasing and other fees, primarily related to leasing 
at the aforementioned Concourse Corporate Center. Also partially offsetting the 
decrease in both the three and six month 2002 periods was an increase in leasing
and other fees of approximately $267,000 from Ten Peachtree Place Associates.   

        Residential Lot and Outparcel Sales and Cost of Sales. Residential lot
and outparcel sales decreased approximately $998,000 in the three month 2002    
period and increased $649,000 in the six month 2002 period. Residential lots    
sold decreased from 30 lots in the three month 2001 period to 5 lots in the     
three month 2002 period and increased from 75 lots in the six month 2001 period 
to 96 lots in the six month 2002 period.                                        

     Residential lot and outparcel cost of sales decreased approximately
$910,000 in the three month 2002 period and increased approximately $61,000 in  
the six month 2002 period due to the aforementioned fluctuation in the number of
lots sold. The decrease in cost of sales in the three month 2002 period and the 
increase in cost of sales in the six month 2002 period was less than the        
corresponding decrease and increase in the three and six month sales,           
respectively, due to an increase in 2002 of the gross profit percentages used to
calculate the cost of sales of lot sales in certain of the residential          
developments.                                                                   

Interest and Other Income. Interest and other income decreased
approximately $384,000 and $844,000 in the three and six month 2002 periods,    
respectively, primarily due to interest income recognized in the 2001 periods   
from the $18.6 million note receivable from Charlotte Gateway Village, LLC      
("Gateway") that was repaid in full in November 2001.                           

     Income from Unconsolidated Joint Ventures. (All amounts reflect the
Company's share of joint venture income.) Income from unconsolidated joint      
ventures increased approximately $961,000 and $2,485,000 in the three and six   
month 2002 periods, respectively.                                               

         Income from Wildwood Associates increased approximately $385,000 in the
six month 2002 period primarily due to an increase in income before             
depreciation, amortization and interest expense of approximately $258,000 in the
six month 2002 period from the 3200 Windy Hill Road Building, as its average    
economic occupancy increased from 99% in 2001 to 100% in 2002.                  

      Income from Temco Associates decreased approximately $227,000 in the
three month 2002 period and increased approximately $559,000 in the six month   
2002 period. Lot sales in its Bentwater residential development decreased from  
89 lots in the three month 2001 period to 79 lots in the three month 2002       
period, which contributed to the three month 2002 decrease, and increased from  
138 lots in the six month 2001 period to 180 lots in the six month 2002 period, 
which contributed to the six month 2002 increase. Additionally, approximately   
213 acres of the option related to the fee simple interest was exercised and    
simultaneously sold in the three month 2001 period. CREC's share of the gain was
approximately $360,000. No tract sales occurred in the three month 2002 period. 
Approximately 559 acres of the option related to the fee simple interest was    
exercised and simultaneously sold in the six month 2002 period. CREC's share of 
the gain was approximately $371,000.                                            

  Income from CPI/FSP I, L.P. increased approximately $550,000 and
$976,000 in the three and six month 2002 periods, respectively, as Austin       
Research Park Buildings III and IV became partially operational for financial   
reporting purposes in June 2001 and September 2001, respectively.               

      Income from Gateway increased approximately $197,000 and $408,000 in
the three and six month 2002 periods, respectively. The Company recognizes an   
11.46% current preferred return on its equity in Gateway, which increased from  
$3,200,000 to $10,556,000 in November 2001.                                     

       Income from Crawford Long - CPI, LLC increased approximately $199,000
and $306,000 in the three and six month 2002 periods, respectively, as the Emory
Crawford Long Medical Office Tower became partially operational for financial   
reporting purposes in February 2002.                                            

    Income from Ten Peachtree Place Associates decreased approximately
$260,000 and $561,000 in the three and six month 2002 periods, respectively, as 
its average economic occupancy for the six month period decreased from 100% in  
2001 to 16% in 2002.                                                            

       Income from CSC Associates, L.P. increased approximately $199,000 and
$299,000 in the three and six month 2002 periods, respectively, due to an       
increase in rental revenues from a tenant whose increase in rental rate did not 
require straight-lining under Statement of Financial Accounting Standards No.   
13.                                                                             

   Income from 285 Venture, LLC increased approximately $177,000 and
$191,000 in the three and six month 2002 periods, respectively, as the average  
economic occupancy for the six month period of 1155 Perimeter Center West       
increased from 87% in 2001 to 100% in 2002.                                     

  General and Administrative Expenses.  General and administrative
expenses increased approximately $131,000 and $1,325,000 in the three and six   
month 2002 periods, respectively. The increase in the three month 2002 period   
was partially due to an increase in moving expenses and salaries and employee   
benefits. The increase in the six month 2002 period was primarily attributable  
to the aforementioned consolidation of CPS and partially to an increase in      
moving expenses. The increases in the three and six month 2002 periods were     
partially offset by a decrease in general and administrative expenses resulting 
from the capitalization of additional general and administrative expenses to    
offset the partial elimination of certain development and leasing fees from     
joint ventures.                                                                 

        Depreciation and Amortization. Depreciation and amortization increased
approximately $2,308,000 and $3,744,000 in the three and six month 2002 periods,
respectively, due to the aforementioned office buildings and retail center      
becoming partially operational for financial reporting purposes, which increase 
was partially offset by the February 2001 sale of Colonial Plaza MarketCenter.  

       Interest Expense. Interest expense increased approximately $3,007,000
and $4,368,000 in the three and six month 2002 periods, respectively.           
Interest expense before capitalization increased to approximately $10,790,000   
and $21,219,000 in the three and six month 2002 periods, respectively, from     
approximately $8,966,000 and $18,451,000 in the three and six month 2001        
periods, respectively, due to higher average debt levels. The Company completed 
four non-recourse mortgages in 2001: Presidential MarketCenter in May 2001, 600 
University Park Place in July 2001 and 333 John Carlyle/1900 Duke Street and    
333/555 North Point Center East in November 2001. Also contributing to the      
increase in interest expense was a decrease of approximately $1,183,000 and     
$1,600,000 in the three and six month 2002 periods, respectively, in interest   
capitalized to projects under development (a reduction of interest expense) to  
approximately $1,233,000 and $3,130,000 in the three and six month 2002 periods,
respectively, from approximately $2,416,000 and $4,730,000 in the three and six 
month 2001 periods, respectively, due to a lower level of projects under        
development in 2002.                                                            

        Other Expenses. Other expenses decreased approximately $371,000 in the
three month 2002 period and increased approximately $214,000 in the six month   
2002 period. Predevelopment expense decreased approximately $281,000 in the     
three month 2002 period. Minority interest expense increased approximately      
$194,000 in the six month 2002 period primarily due to an increase in minority  
interest expense from 55 Second Street, which became partially operational for  
financial reporting purposes in February 2002.                                  

      Provision(Benefit) for Income Taxes from Operations. The benefit for
income taxes from operations decreased approximately $1,887,000 to a provision  
for income taxes from operations in the six month 2002 period. The decrease in  
the benefit for income taxes from operations was primarily due to an increase in
income before income taxes and gain on sale of investment properties from CREC  
and its subsidiaries in the six month 2002 period. This increase is primarily   
due to increases in income from residential lot sales, net of cost of sales,    
income from Temco Associates, leasing fees and a decrease in general and        
administrative expenses. The increase in income before income taxes and gain on 
sale of investment properties from CREC and its subsidiaries was partially      
offset by a decrease in development income and an increase in interest expense  
in the six month 2002 period.                                                   

  The decrease in the benefit for income taxes from operations was
partially offset by an increase in the loss before income taxes and gain on sale
of investment properties from CREC II and its subsidiaries in the six month 2002
period. The decrease is mainly due to a decrease in income from CPS.            

   Gain on Sale of Investment Properties. Gain on sale of investment
properties decreased approximately $17,350,000 in the six month 2002 period. The
2002 gain included the amortization of deferred gain from CP Venture LLC ($2.1  
million) (see Note 5 of "Notes to Consolidated Financial Statements" in the     
Company's Annual Report on Form 10-K for the year ended December 31, 2001). The 
2001 gain included the following: the February 2001 sale of Colonial Plaza      
MarketCenter ($17.1 million), the February 2001 disposition of leasehold        
interests in Summit Green ($.2 million) and the amortization of deferred gain   
from CP Venture LLC ($2.1 million) (see Note 5 of "Notes to Consolidated        
Financial Statements" in the Company's Annual Report on Form 10-K for the year  
ended December 31, 2001).                                                       

     Extraordinary Loss. The Company recognized an extraordinary loss of
approximately $3,501,000 in the six month 2002 period due to the refinancing of 
the CSC Associates, L.P. non-recourse mortgage note payable (see Note 6 to the  
Company's consolidated financial statements included in this report).           

Liquidity and Capital Resources:                                                
--------------------------------                                                

     Financial Condition. The Company's adjusted debt (including its pro
rata share of unconsolidated joint venture debt) was 39% of total market        
capitalization at June 30, 2002. Adjusted debt is defined as the Company's debt 
and the Company's pro rata share of unconsolidated joint venture debt as        
disclosed in Note 4 of "Notes to Consolidated Financial Statements" in the      
Company's Annual Report on Form 10-K for the year ended December 31, 2001,      
excluding the Gateway debt as it is fully exculpated debt which is supported by 
a long-term lease to Bank of America Corporation. The Company had $89 million   
drawn on its $275 million revolving credit facility as of June 30, 2002.        

 The Company has development and acquisition projects in various
planning stages. The Company currently intends to finance these projects, as    
well as the completion of projects currently under construction, using its      
existing credit facility (increasing the credit facility as required), long-term
non-recourse financing on the Company's unleveraged projects, joint ventures,   
project sales and other financings as market conditions warrant. In September   
1996, the Company filed a shelf registration statement with the Securities and  
Exchange Commission ("SEC") for the offering from time to time of up to $200    
million of common stock, warrants to purchase common stock and debt securities, 
of which approximately $132 million remains available at June 30, 2002.         

     The Company from time to time evaluates opportunities and strategic
alternatives, including but not limited to joint ventures, mergers and          
acquisitions and new private or publicly-owned entities created to hold existing
assets and acquire new assets. These alternatives may also include sales of     
single or multiple assets when the Company perceives opportunities to capture   
value and redeploy proceeds or distribute proceeds to stockholders. The         
Company's consideration of these alternatives is part of its ongoing strategic  
planning process. There can be no assurance that any such alternative, if       
undertaken and consummated, would not materially adversely affect the Company or
the market price of the Company's common stock.                                 

 Cash Flows. Net cash provided by operating activities increased
approximately $8.4 million in the six month 2002 period. Operating distributions
from unconsolidated joint ventures increased approximately $7.0 million in 2002,
which contributed to the increase in net cash provided by operating activities. 
The increase in operating distributions from unconsolidated joint ventures is   
mainly due to increases in operating distributions of approximately $5.0 million
from Wildwood Associates and approximately $1.8 million from CPI/FSP I, L.P.    
Depreciation and amortization increased approximately $3.8 million due to the   
aforementioned office buildings and retail center becoming partially operational
for financial reporting purposes, which contributed to the increase in net cash 
provided by operating activities. Income before gain on sale of investment      
properties and extraordinary loss decreased approximately $1.1 million and      
income from unconsolidated joint ventures increased approximately $2.5 million, 
both of which partially offset the increase in net cash provided by operating   
activities.                                                                     

     Net cash used in investing activities decreased approximately $11.7
million in the six month 2002 period. The decrease in net cash used in investing
activities was primarily due to a decrease of approximately $46.3 million in    
property acquisition and development expenditures, as a result of the Company   
having a lower level of projects under development in the six month 2002 period.
Investment in unconsolidated joint ventures decreased approximately $15.6       
million, which also contributed to the decrease in net cash used in investing   
activities. This decrease was primarily due to a decrease in contributions of   
approximately $9.3 million to CPI/FSP I, L.P., as construction of Austin        
Research Park Buildings III and IV was completed in 2001, a decrease of         
approximately $4.7 million to Crawford Long - CPI, LLC in 2002, as construction 
of the Emory Crawford Long Medical Office Tower was substantially completed in  
February 2002, and a decrease of approximately $1.0 million to 285 Venture, LLC,
as construction of 1155 Perimeter Center West was completed in 2001. The        
decrease in net cash paid in acquisition of business of approximately $2.1      
million, which resulted from the acquisition of the remaining 25% interest in   
CPS in the first quarter of 2001, and a decrease in change in other assets, net,
of approximately $2.0 million, both further contributed to the decrease in net  
cash used in investing activities. Net cash provided by sales activities        
decreased approximately $52.8 million due primarily to the sale of Colonial     
Plaza MarketCenter in February 2001, which partially offset the decrease in net 
cash used in investing activities. Investment in, net of collection of notes    
receivable, decreased approximately $1.5 million, which also partially offset   
the decrease in net cash used in investing activities.                          

         Net cash provided by financing activities decreased approximately $24.8
million in the six month 2002 period to net cash used in financing activities.  
The decrease in net cash provided by financing activities was primarily         
attributable to a decrease in net amounts drawn on the credit facility of       
approximately $70.6 million. Also contributing to the decrease in net cash      
provided by financing activities was an increase of approximately $67.0 million 
in repayment of other notes payable and an increase in extraordinary loss of    
approximately $3.5 million, both due to the refinancing of Bank of America Plaza
(see Note 6 to the Company's consolidated financial statements included in this 
report). An increase in the dividends paid per share to $.74 in 2002 from $.68  
in 2001 and an increase in the number of shares outstanding also contributed to 
the decrease in net cash provided by financing activities as dividends paid     
increased approximately $3.3 million. The increase in proceeds from other notes 
payable of approximately $119.0 million due to the aforementioned refinancing of
Bank of America Plaza (see Note 6 to the Company's consolidated financial       
statements included in this report) partially offset the decrease in net cash   
provided by financing activities.                                               

       CSC Non-Recourse Mortgage Note Payable. As discussed in Note 6 to the
Company's consolidated financial statements included in this report, CSC        
completed a $150 million non-recourse mortgage note payable on the Bank of      
America Plaza building. Pursuant to the loan agreement, CSC must maintain all of
the insurance required under the loan agreement with insurance companies having 
certain claims paying ability ratings. In July 2002, the claims paying ability  
rating of CSC's insurance carrier was downgraded to a level immediately below   
that required by the loan agreement. The Company notified the lender of such    
downgrading. The lender is not requiring that CSC obtain replacement insurance  
at this time, but has reserved the right to require CSC to do so at a later     
time.                                                                           

       On the advice of its insurance consultants, the Company believes that
the insurance coverage currently required under the loan agreement is available 
from insurance companies that meet the minimum claims paying ability rating     
requirements under the loan agreement. If required to provide insurance from a  
carrier with the required rating, there can be no assurance, however, that such 
insurance can be obtained, or if obtainable, that such insurance can be obtained
without significant additional cost to CSC. Pursuant to the loan agreement, the 
lender permits insurance to be issued by insurance companies with a lower claims
paying ability rating under certain circumstances, including obtaining written  
confirmation from the rating agencies that the ratings of any securities issued 
or to be issued as the result of a securitization of this mortgage note payable 
will not be qualified, downgraded or withdrawn as a result of such lower claims 
paying ability rating. There can be no assurance that if requested, the rating  
agencies would approve a reduction in the claims paying ability rating of       
insurance companies. In the event that CSC is required to obtain insurance from 
an insurance company with the required rating and cannot obtain such insurance, 
and, in the further event that the rating agencies will not confirm that the    
rating of the related securities will not be qualified, downgraded or withdrawn 
due to the use of an insurance company with a lower rating, CSC could ultimately
be in default under the loan agreement and related documents.                   

Quantitative and Qualitative Disclosure About Market Risk:                      
----------------------------------------------------------                      

        There has been no material change in the Company's market risk related
to its notes payable and notes receivable from that disclosed in the Company's  
Annual Report on Form 10-K for the year ended December 31, 2001.                

Square Feet Expiring:                                                           
---------------------                                                           

As of July 31, 2002, the Company's office portfolio included  
thirty-eight commercial office buildings. The weighted average remaining lease  
term of these office buildings, excluding all properties currently under        
construction and/or in lease-up and One Ninety One Peachtree Tower, as it is    
less than 10% owned by the Company, was approximately 8 years as of July 31,    
2002. Most of the Company's leases in these buildings provide for pass through  
of operating expenses and base rents which escalate over time. The leases expire
as follows:                                                                     

                                                        [Enlarge/Download Table]


                                                                                                              2011                  
                                                                                                               &                    
               2002      2003      2004       2005       2006       2007      2008       2009      2010    Thereafter    Total      
               ----      ----      ----       ----       ----       ----      ----       ----      ----    ----------    -----      
OFFICE                                                                                                                              
------                                                                                                                              
Consolidated:                                                                                                                       
-------------                                                                                                                       

                                                                                                                                    
Square Feet                                                                                                                         
  Expiring (a)  47,616   127,437   157,592    353,399    349,048    156,725   307,060    667,361   276,062  1,478,573   3,920,873(b)
% of Leased                                                                                                                         
  Space             1%        3%        4%         9%         9%         4%        8%        17%        7%        38%        100%   
Annual Base                                                                                                                         
  Rent (c)     716,488 2,241,529 3,044,949  6,719,441  5,527,422  3,369,649 6,544,415 13,559,815 7,037,926 42,306,807  91,068,441   
Annual Base                                                                                                                         
  Rent/Sq.                                                                                                                          
  Ft. (c)        15.05     17.59     19.32      19.01      15.84      21.50     21.31      20.32     25.49      28.61       23.23   

Joint Venture:                                                                                                                      
--------------                                                                                                                      
Square Feet                                                                                                                         
  Expiring (a) 225,941   477,988   471,912    468,951    603,257    708,786   168,103    360,595   155,996  3,542,370   7,183,899(d)
% of Leased                                                                                                                         
  Space             3%        7%        7%         7%         8%        10%        2%         5%        2%        49%        100%   
Annual Base                                                                                                                         
  Rent (c)   4,091,971 8,353,331 8,813,615  8,235,128 10,942,692 17,232,315 2,995,182  8,440,713 3,696,238 78,852,275 151,653,460   
Annual Base                                                                                                                         
  Rent/Sq.                                                                                                                          
  Ft. (c)        18.11     17.48     18.68      17.56      18.14      24.31     17.82      23.41     23.69      22.26       21.11   

Total (including only Company's %  share of Joint Venture Properties):                                                              
----------------------------------------------------------------------                                                              
Square Feet                                                                                                                         
  Expiring (a) 156,213   357,129   454,642    551,773    628,201     488,488   379,074    818,271   326,971  3,253,206  7,413,968   
% of Leased                                                                                                                         
  Space             2%        5%        6%         7%         9%          7%        5%        11%        4%        44%       100%   
Annual Base                                                                                                                         
  Rent (c)   2,582,055 6,238,863 8,487,266 10,234,634 10,595,617 11,601,444 7,838,451 17,266,034 8,342,742 81,735,260 164,922,366   
Annual Base                                                                                                                         
  Rent/Sq.                                                                                                                          
  Ft. (c)        16.53     17.47     18.67      18.55      16.87      23.75     20.68      21.10     25.52      25.12       22.24   

(a) Where a tenant has the option to cancel its lease without penalty,                                                              
    the lease expiration date used in the table above reflects the cancellation                                                     
    option date rather than the lease expiration date.                                                                              
(b) Rentable square feet leased as of July 31, 2002 out of approximately                                                            
    4,097,000 total rentable square feet.                                                                                           
(c) Annual base rent excludes the operating expense reimbursement portion of the                                                    
    rent payable. If the lease does not provide for pass through of such                                                            
    operating expense reimbursements, an estimate of operating expenses is                                                          
    deducted from the rental rate shown. The base rental rate shown is the                                                          
    estimated rate in the year of expiration. Amounts disclosed are in dollars.                                                     
(d) Rentable square feet leased as of July 31, 2002 out of approximately                                                            
    7,473,000 total rentable square feet.                                                                                           

      As of July 31, 2002, the Company's medical office portfolio included
six medical office properties. The weighted average remaining lease term of     
these medical office buildings, excluding the property currently under          
construction and in lease-up, was approximately 8 years as of July 31, 2002.    
Most of the Company's leases in the buildings provide for pass through of       
operating expenses and base rents which escalate over time. The leases expire as
follows:                                                                        

                                                        [Enlarge/Download Table]


                                                                                                      2011                  
                                                                                                       &                    
             2002    2003      2004      2005     2006      2007       2008       2009     2010    Thereafter     Total     
             ----    ----      ----      ----     ----      ----       ----       ----     ----    ----------     -----     
MEDICAL OFFICE                                                                                                              
--------------                                                                                                              
Consolidated:                                                                                                               
-------------                                                                                                               
                                                                                                                            
Square Feet                                                                                                                 
  Expiring     0    35,388    42,246    23,723     9,210    33,337    35,571     130,041   10,535     144,986     465,037(a)
% of Leased                                                                                                                 
  Space       0%        8%        9%        5%        2%        7%      8%          28%        2%         31%        100%   
Annual Base                                                                                                                 
  Rent (b)     0   676,258   791,772   409,956   124,046   686,226   812,145   2,639,662  202,799   3,619,463   9,962,327   
Annual Base                                                                                                                 
  Rent/Sq.                                                                                                                  
  Ft. (b)      0     19.11     18.74     17.28     13.47     20.58     22.83       20.30    19.25       24.96       21.42   

Joint Venture:                                                                                                              
--------------                                                                                                              
Square Feet                                                                                                                 
  Expiring     0         0         0     3,445         0    24,756         0           0        0      40,503      68,704(c)
% of Leased                                                                                                                 
  Space       0%        0%        0%        5%        0%       36%        0%          0%       0%         59%        100%   
Annual Base                                                                                                                 
  Rent (b)     0         0         0    56,498         0   422,558         0           0        0     772,392   1,251,448   
Annual Base                                                                                                                 
  Rent/Sq.                                                                                                                  
  Ft. (b)      0         0         0     16.40         0     17.07         0           0        0       19.07       18.22   

Total (including only Company's %  share of Joint Venture Properties):                                                      
----------------------------------------------------------------------                                                      
Square Feet                                                                                                                 
  Expiring     0    35,388    42,246    24,119     9,210    36,184    35,571     130,041   10,535     149,644     472,938   
% of Leased                                                                                                                 
  Space       0%        7%        9%        5%        2%        8%        8%         27%       2%         32%        100%   
Annual Base                                                                                                                 
  Rent (b)     0   676,258   791,772   416,453   124,046   734,821   812,145   2,639,662  202,799   3,708,288  10,106,244   
Annual Base                                                                                                                 
  Rent/Sq.                                                                                                                  
  Ft. (b)      0     19.11     18.74     17.27     13.47     20.31     22.83       20.30    19.25       24.78       21.37   

(a) Rentable square feet leased as of July 31, 2002 out of approximately 512,000                                            
    total rentable square feet.                                                                                             
(b) Annual base rent excludes the operating expense  reimbursement  portion of                                              
    the rent payable.  If the lease does not provide for pass through of such                                               
    operating expense reimbursements, an estimate of operating expenses is                                                  
    deducted from the rental rate shown. The base rental rate shown is the                                                  
    estimated rate in the year of expiration.  Amounts disclosed are in dollars.                                            
(c) Rentable square feet leased as of July 31, 2002 out of approximately 69,000                                             
    total rentable square feet.                                                                                             

     As of July 31, 2002, the Company's retail portfolio included twelve
retail properties. The weighted average remaining lease term of these retail    
properties was approximately 11 years as of July 31, 2002. Most of the major    
tenant leases in these retail properties provide for pass through of operating  
expenses and base rents which escalate over time. The leases expire as follows: 

                                                        [Enlarge/Download Table]


                                                                                                           2011                   
                                                                                                            &                     
                2002     2003      2004       2005       2006        2007     2008     2009      2010   Thereafter     Total      
                ----     ----      ----       ----       ----        ----     ----     ----      ----   ----------     -----      
RETAIL                                                                                                                            
------                                                                                                                            
Consolidated:                                                                                                                     
-------------                                                                                                                     
                                                                                                                                  
Square Feet                                                                                                                       
  Expiring     13,228   11,444     76,953    130,897     90,280     39,672   35,127   21,530    142,457     589,123   1,150,711(a)
% of Leased                                                                                                                       
  Space            1%       1%         7%        11%         8%         4%       3%       2%        12%         51%        100%   
Annual Base                                                                                                                       
  Rent (b)    112,500  240,595  1,412,303  3,111,965  2,087,754    872,878  309,118  733,820  2,972,158  10,300,811  22,153,902   
Annual Base                                                                                                                       
  Rent/Sq.                                                                                                                        
  Ft. (b)        8.50    21.02      18.35      23.77      23.13      22.00     8.80    34.08      20.86       17.48       19.25   

Joint Venture:                                                                                                                    
--------------                                                                                                                    
Square Feet                                                                                                                       
  Expiring          0   20,011     34,343     86,802    173,539     85,968   40,358   62,256    140,895   1,200,037   1,844,209(c)
% of Leased                                                                                                                       
  Space            0%       1%         2%         5%         9%         5%       2%       3%         8%         65%        100%   
Annual Base                                                                                                                       
  Rent (b)          0  313,945    717,124  1,558,926  2,527,672  1,887,378  751,247  722,712  2,104,236  16,772,187  27,355,427   
Annual Base                                                                                                                       
  Rent/Sq.                                                                                                                        
  Ft. (b)        0.00    15.69      20.88      17.96      14.57      21.95    18.61    11.61      14.93       13.98       14.83   

Total (including only Company's %  share of Joint Venture Properties):                                                            
----------------------------------------------------------------------                                                            
Square Feet                                                                                                                       
  Expiring     13,228   13,745     83,525    171,454    134,892     76,832   67,210   31,719    193,455   1,085,636   1,871,696   
% of Leased                                                                                                                       
  Space            1%       1%         4%         9%         7%         4%       4%       2%        10%         58%        100%   
Annual Base                                                                                                                       
  Rent (b)    112,400  276,698  1,555,547  3,990,369  3,066,329  1,752,466  915,834  894,391  4,065,300  17,767,268  34,396,602   
Annual Base                                                                                                                       
  Rent /Sq.                                                                                                                       
  Ft. (b)        8.50    20.13      18.62      23.27      22.73      22.81    13.63    28.20      21.01       16.37       18.38   

(a)  Gross leasable area leased as of July 31, 2002 out of approximately                                                          
     1,217,000 total gross leasable area.                                                                                         
(b)  Annual base rent excludes the operating  expense  reimbursement  portion of                                                  
     the rent payable and any percentage rents due. If the lease does not                                                         
     provide for pass through of such operating expense reimbursements, an                                                        
     estimate of operating expenses is deducted from the rental rate shown. The                                                   
     base rental rate shown is the estimated rate in the year of expiration.                                                      
     Amounts disclosed are in dollars.                                                                                            
(c)  Gross leasable area leased as of July 31, 2002 out of approximately                                                          
     1,883,000 total gross leasable area.                                                                                         

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                                                        [Enlarge/Download Table]


Supplemental Financial Information:                                                                                
-----------------------------------                                                                                

         Depreciation and amortization expense included the following components                                   
for the three and six months ended June 30, 2002 ($ in thousands):                                                 

                                              Three Months Ended                        Six Months Ended           
                                                 June 30, 2002                            June 30, 2002            
                                      -----------------------------------       -----------------------------------
                                                   Share of                                 Share of               
                                                Unconsolidated                           Unconsolidated            
                                      Company   Joint Ventures     Total        Company   Joint Ventures     Total 
                                      -------   --------------    -------       -------   --------------    -------

                                                                                                                   
Furniture, fixtures and equipment     $   526       $    2        $   528       $ 1,048       $    5        $ 1,053
Deferred financing costs                    -            -              -             -            -              -
Specifically identifiable                                                                                          
   intangible assets                        7            -              7            13            -             13
Real estate related:                                                                                               
   Building (including tenant                                                                                      
   first generation)                   12,562        4,284         16,846        23,382        8,282         31,664
Tenant second generation                  351          187            538         1,111          376          1,487
                                      -------       ------        -------       -------       ------        -------

                                      $13,446       $4,473        $17,919       $25,554       $8,663        $34,217
                                      =======       ======        =======       =======       ======        =======
                                                        [Enlarge/Download Table]


         Exclusive of new developments and purchases of furniture, fixtures and                              
equipment, the Company had the following capital expenditures during the three                               
and six months ended June 30, 2002, including its share of unconsolidated joint                              
ventures ($ in thousands):                                                                                   

                                                  Three Months Ended                   Six Months Ended      
                                                     June 30, 2002                       June 30, 2002       
                                             ---------------------------         --------------------------- 
                                             Office     Retail     Total         Office     Retail     Total 
                                             ------     ------     -----         ------     ------     ----- 

                                                                                                             
         Second generation related costs      $750       $38       $788          $1,040      $ 51      $1,091
         Building improvements                 103        36        139             389        83         472
                                              ----       ---       ----          ------      ----      ------

                                              $853       $74       $927          $1,429      $134      $1,563
                                              ====       ===       ====          ======      ====      ======

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PART II.  OTHER INFORMATION                                                     
---------------------------                                                     

Item 6.           Reports on Form 8-K                                           
-------------------                         
(a)      Exhibits                           
--------                  
   Exhibit 3.1      Restated and
                                         Amended Articles of Incorporation
                                     of the Registrant, as amended
                       August 9, 1999.

                   Exhibit 3.2      Bylaws of the Registrant, as
                               amended April 29, 1993.

                          Exhibit 11       Computation of Per Share Earnings.*

                          Exhibit 99.1     Certification Pursuant to 18 U.S.C.
                                            Section 1350, as Adopted Pursuant to
                                         Section 906 of the Sarbanes-Oxley
                    Act of 2002.

                          Exhibit 99.2     Certification Pursuant to 18 U.S.C.
                                            Section 1350, as Adopted Pursuant to
                                         Section 906 of the Sarbanes-Oxley
                    Act of 2002.

(b)      Reports on Form 8-K                
-------------------       
                    On July 13, 2002, the Company filed a Form 8-K
                  detailing a change in certifying accountant.

* Data required by SFAS No. 128, "Earnings Per Share," is provided in Note 4 to 
the consolidated financial statements in this report.                       

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the        
registrant has duly caused this report to be signed on its behalf by the        
undersigned thereunto duly authorized.                                          

             COUSINS PROPERTIES INCORPORATED

  /s/ Kelly H. Barrett
                               -------------------------------------------------
Kelly H. Barrett  
                               Senior Vice President and Chief Financial Officer
                              (Duly Authorized Officer and Principal Financial
Officer)          

August 12, 2002                                                                 

Dates Referenced Herein   and   Documents Incorporated by Reference

				Referenced-On Page
This ‘10-Q’ Filing		Date		First		Last			Other Filings
		3/1/12		5					8-K
Filed on:		8/12/02		10
		7/31/02		1		7
		7/13/02		9
For Period End:		6/30/02		1		8			8-K
		3/15/02		5
		3/14/02		5
		2/22/02		5
		2/15/02		5
		1/1/02		5
		12/31/01		2		7			10-K,  DEF 14A
		6/30/01		3		7			10-Q
		3/1/01		7
		8/9/99		9
		4/29/93		9
									List all Filings

18 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 5/08/24  Cousins Properties Inc.           S-3ASR      5/08/24    9:1.4M
 4/25/24  Cousins Properties Inc.           10-Q        3/31/24   79:6.8M
 2/07/24  Cousins Properties Inc.           10-K       12/31/23  124:14M
10/26/23  Cousins Properties Inc.           10-Q        9/30/23   76:8.1M
 7/27/23  Cousins Properties Inc.           10-Q        6/30/23   78:8.1M
 4/27/23  Cousins Properties Inc.           10-Q        3/31/23   78:7.3M
 2/17/23  Cousins Properties Inc.           S-8         2/17/23    4:110K
 2/17/23  Cousins Properties Inc.           S-3ASR      2/17/23    6:658K
 2/09/23  Cousins Properties Inc.           10-K       12/31/22  131:17M
10/27/22  Cousins Properties Inc.           10-Q        9/30/22   81:15M
 7/28/22  Cousins Properties Inc.           10-Q        6/30/22   76:8.8M
 4/28/22  Cousins Properties Inc.           10-Q        3/31/22   77:7.2M
 2/03/22  Cousins Properties Inc.           10-K       12/31/21  135:17M
10/28/21  Cousins Properties Inc.           10-Q        9/30/21   81:9.6M
 7/29/21  Cousins Properties Inc.           10-Q        6/30/21   79:11M
 4/29/21  Cousins Properties Inc.           10-Q        3/31/21   80:7.9M
 2/11/21  Cousins Properties Inc.           10-K       12/31/20  133:17M
10/28/20  Cousins Properties Inc.           10-Q        9/30/20   80:9.2M