Cousins Properties Incorporated 2006 Annual Report - SNL Financial

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COUSINS PROPERTIES INCORPORATED AND CONSOLIDATED ENTITIES SUBSIDIARIES OF THE REGISTRANT DECEMBER 31, 2006 At December 31, 2006, the Registrant had the following 100% owned subsidiaries: Exhibit 21 Subsidiary State of Incorporation 3280 Peachtree I, LLC. .......................................... Georgia 3280 Peachtree II, LLC .......................................... Georgia 615 Peachtree LLC ............................................. Georgia Avenue Webb Gin, LLC ......................................... Georgia CCD Juniper LLC .............................................. Georgia Cousins 191 Investor LLC ........................................ Georgia Cousins, Inc. ................................................. Alabama Cousins Jefferson Mill, LLC ...................................... Georgia Cousins King Mill, LLC ......................................... Georgia Cousins Murfreesboro LLC ....................................... Georgia Cousins Properties Palisades, LP ................................... Texas CP Lakeside Land, GP . .......................................... Georgia CP Sandy Springs LLC .......................................... Georgia CPI191LLC ................................................. Georgia Cousins Real Estate Corporation ................................... Georgia Cousins San Jose MarketCenter, LLC. ............................... Georgia Cousins MarketCenters, Inc. ...................................... Georgia New Land Realty, LLC .......................................... Georgia Cedar Grove Lakes, LLC ......................................... Georgia CREC Alabama Inc. ............................................ Georgia Pine Mountain Ventures, LLC ..................................... Georgia Longleaf Realty, LLC ........................................... Georgia Cousins Condominium Development, LLC ............................ Georgia CREC Property Holdings, LLC .................................... Delaware Blalock Lakes, LLC ............................................ Georgia Cousins Real Estate Development, Inc. .............................. Georgia Cousins Development, Inc. ....................................... Georgia Cousins Properties Services LP .................................... Texas Cousins La Frontera, LP ......................................... Texas CREC LaFrontera, LP . .......................................... Texas Cousins Texas GP Inc. .......................................... Georgia Cousins Properties Waterview LP ................................... Texas One Ninety One Peachtree Associates LLC ........................... Georgia IPC Investments, LLC ........................................... Georgia Presidential MarketCenter LLC .................................... Georgia Ridgewalk Funding LLC ......................................... Georgia SONO Renaissance, LLC. ........................................ Georgia Cousins Aircraft Associates, LLC. .................................. Georgia C-H Associates, Ltd. ............................................ Georgia Cousins Properties Funding LLC ................................... Georgia
Subsidiary State of Incorporation Cousins Properties Texas LP ...................................... Texas Cousins Texas LLC ............................................. Georgia At December 31, 2006, the financial statements of the following entities were consolidated with those of the Registrant in the Consolidated Financial Statements incorporated herein: Subsidiary State of Incorporation Carriage Avenue, LLC* .......................................... Delaware Cousins/Callaway, LLC* ......................................... Georgia Cousins/Daniel, LLC* ........................................... Georgia Cousins/Myers Second Street Partners, L.L.C.* . ....................... Delaware Cousins/Myers II, LLC* ......................................... Delaware 50 Biscayne Venture, LLC* ....................................... Delaware CP Venture Three LLC (88.5% owned by Registrant) .................... Delaware CP Venture Six LLC (88.5% owned by Registrant) ...................... Delaware C/W King Mill I, LLC (75% owned by Registrant). ..................... Georgia C/W Jefferson Mill I, LLC (75% owned by Registrant). .................. Georgia 905 Juniper Venture, LLC (72% owned by Registrant) ................... Georgia CS Lakeside 20 Limited, LLLP* ................................... Texas CS Lakeside Land Limited, LLLP* ................................. Texas * Minority member may receive a portion of cash flow and capital proceeds.
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Outstanding Performance Cousins Pro
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FORWARD-LOOKING STATEMENTS Certain
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Had significant leasing activity, n
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Certain environmental laws impose l
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Environmental issues. Environmental
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Financing Risks If interest rates o
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eceive less cash than the amount of
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income, Cousins is subject to tax o
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16 Description and Location Year De
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18 Lease Expirations — Office As
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20 Description and Location Year De
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Lease Expirations — Industrial As
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Additional Information Related to O
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(3) Total Project GLA includes anch
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Description Year Commenced Estimate
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Description and Location(1) Zoned U
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Mr. DuPree rejoined the Company in
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Performance Graph The following gra
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General and Administrative Expenses
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For the foreseeable future, the Com
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collectibility of unit purchase pri
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Decrease of approximately $1.2 mill
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The vesting period for stock option
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esidential lot development and land
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Stock-Based Compensation. The Compa
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capitalization at December 31, 2006
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Cash Flows from Investing Activitie
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eceivable. The table presents sched
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Item 9. Changes in and Disagreement
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We have also audited, in accordance
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10(a)(v)* Form of Restricted Stock
Page 63 and 64: SIGNATURES Pursuant to the requirem
Page 65 and 66: Cousins Properties Incorporated IND
Page 67 and 68: COUSINS PROPERTIES INCORPORATED AND
Page 73 and 74: fair values at the date of acquisit
Page 75 and 76: Income Taxes COUSINS PROPERTIES INC
Page 77 and 78: outstanding. The income amounts use
Page 89 and 90: Company and 28% to GDL, after each
Page 99 and 100: The following supplemental pro form
Page 107 and 108: 14. PROFIT SHARING/401(K) PLAN The
Page 109 and 110: S-2 Description Encumbrances COUSIN
Page 111 and 112: S-4 Description Encumbrances COUSIN
Page 113: COUSINS PROPERTIES INCORPORATED STA
Page 117 and 118: I, Thomas D. Bell, Jr., certify tha
Page 119 and 120: Exhibit 32.1 CERTIFICATION PURSUANT
Page 121 and 122: Shareholder Information INDEPENDENT
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Cousins Properties Incorporated 2006 Annual Report - SNL Financial

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