Town Lane and Cousins Properties Announce the Acquisition and Planned Modernization of Proscenium
Town Lane and Cousins Properties (
NYSE: CUZ) announced today they have acquired Proscenium, a 526,000 square foot Class A office building located in the Midtown submarket of Atlanta, GA for approximately $83 million. Town Lane and Cousins (the Ownership) completed the all-cash transaction through a newly formed joint venture with Town Lane owning 80% of the venture and Cousins owning the remaining 20%. Cousins will provide property management and leasing services.
Town Lane Raises $1.25 Billion for Inaugural Real Estate Investment Fund
Town Lane (“Town Lane” or the “Firm”), an opportunistic real estate investment firm, completed yesterday the final close of its inaugural fund, Town Lane Real Estate Opportunities Fund I (“Fund I”), with $1.25B in total commitments. The fund was oversubscribed and closed on its investor commitments in the first half of 2024 above its initial $1.0 billion target. Fund I is backed by a diverse and esteemed group of experienced institutional investors, including university endowments, charitable foundations, family offices and pension funds.
