Cousins Properties Incorporated 2006 Annual Report - SNL Financial
Cousins Properties Incorporated 2006 Annual Report - SNL Financial
Cousins Properties Incorporated 2006 Annual Report - SNL Financial
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Description<br />
Year<br />
Commenced<br />
Estimated<br />
Project Life<br />
(In Years)<br />
Estimated<br />
Total Lots to<br />
be Developed(1)<br />
Developed<br />
Lots in<br />
Inventory<br />
Lots Sold<br />
in Current<br />
Quarter<br />
Lots Sold<br />
Year to<br />
Date<br />
Total<br />
Lots<br />
Sold<br />
Remaining<br />
Lots to be<br />
Sold<br />
Cost<br />
Basis(2)<br />
CL Realty continued<br />
Southern Trails (80%<br />
owned) ...........<br />
Brazoria County<br />
Pearland, TX<br />
2005 6 1,059 42 19 82 181 878 $ 12,082<br />
Village Park(7) .......<br />
Collin County<br />
McKinney, TX<br />
2003 5 569 45 26 126 311 258 7,821<br />
Waterford Park. ......<br />
Fort Bend County<br />
Rosenberg, TX<br />
Stonewall Estates (50%<br />
2005 3 493 — — — — 493 6,272<br />
owned) ...........<br />
Bexar County<br />
San Antonio, TX<br />
Manatee River<br />
2005 5 390 97 30 30 30 360 6,332<br />
Plantation .........<br />
Manatee County<br />
Tampa, FL<br />
2003 5 457 109 24 81 348 109 3,796<br />
Stillwater Canyon . . . . .<br />
Dallas County<br />
DeSota, TX<br />
2003 5 336 30 17 64 201 135 2,279<br />
Creekside Oaks .......<br />
Manatee County<br />
Bradenton, FL<br />
Blue Valley (25%<br />
2003 5 301 176 — — 125 176 5,320<br />
owned) ...........<br />
Cherokee & Fulton<br />
Counties<br />
Alpharetta, GA<br />
2005 3 197 4 — 24 24 173 26,395<br />
Village Park North(7). . .<br />
Collin County<br />
McKinney, TX<br />
2005 5 194 53 8 25 25 169 3,380<br />
Bridle Path Estates . . . .<br />
Hillsborough County<br />
Tampa, FL<br />
2004 7 87 — — — — 87 4,205<br />
West Park ..........<br />
Cobb County<br />
Suburban Atlanta,<br />
GA<br />
2005 3 82 — — 21 21 61 4,533<br />
Stonebridge(8). .......<br />
Coweta County<br />
Newnan, GA<br />
2003 4 360 — — 68 360 — —<br />
Total CL Realty . . . 12,050 831 269 973 3,361 8,689 140,271<br />
Total ..............<br />
Company Share of<br />
18,443 1,261 454 1,576 6,882 11,561 $204,308<br />
Total. ............<br />
Company Weighted<br />
8,820 549 192 708 3,440 5,331 $ 93,423<br />
Average Ownership . . 48% 44% 42% 45% 50% 46% 46%<br />
(1) This estimate represents the total projected development capacity for a development on both owned land and<br />
land expected to be purchased for further development. The numbers shown include lots currently developed or<br />
to be developed over time, based on management’s current estimates, and lots sold to date from inception of<br />
development.<br />
(2) Includes cost basis of land tracts as detailed on the Land Held for Investment or Future Development schedule.<br />
(3) A third party has a participation in this project after certain thresholds are met.<br />
(4) Callaway Gardens is owned in a venture, although the venture is consolidated with the Company. The partner is<br />
entitled to a share of the profits after the Company’s capital is recovered.<br />
(5) Longleaf at Callaway lots are sold to a home building venture, of which CREC is a joint venture partner. As a<br />
result of this relationship, the Company recognizes profits when houses are built and sold, rather than at the<br />
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