For the year ended Dec. 31, Cousins reported an increase in FFO per share of 16% to $1.92 per share from $1.66 per share in 1999. FFO rose 17% to $95.2 million in 2000 from $81.3 million the year before.
Revenue for the year reached $144.6 million over $97.8 million reported in 1999. The REIT credits the healthy 2000 showing to the opening of $224 million of new developments as well as solid results from existing properties.
During the year, Cousins completed $155 million in new financings for three metro projects; invested $231 million in new developments, primarily office, in Atlanta, Austin, TX, Los Angeles and San Francisco; acquired $60 million of operating properties for redevelopment; and opened $224 million in new developments, including the 1.1 million-sf office development Gateway Village in Charlotte and the 447,000-sf Mira Mesa MarketCenter in San Diego.
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