Notes Payable (Tables)

3 Months Ended

Mar. 31, 2026

The following table summarizes the terms of notes payable outstanding at March 31, 2026, and December 31, 2025, ($ in thousands):


Description	Interest Rate (1)	Maturity (2)	2026		2025
Unsecured Notes:
Credit Facility	4.405%	April 2027	$	206,500	$	116,000
Public Senior Notes	5.875%	October 2034	500,000		500,000
Public Senior Notes	5.250%	July 2030	500,000		500,000
Public Senior Notes	4.875%	March 2033	500,000		—
Public Senior Notes	5.375%	February 2032	400,000		400,000
Term Loan (3)	4.474%	September 2026	400,000		400,000
Privately Placed Senior Notes	3.950%	July 2029	275,000		275,000
Privately Placed Senior Notes	3.860%	July 2028	250,000		250,000

Privately Placed Senior Notes	3.780%	July 2027	125,000		125,000
Term Loan	4.630%	August 2026	100,000		250,000
Privately Placed Senior Notes	4.090%	July 2027	100,000		100,000
			3,356,500		2,916,000
Secured Mortgage Notes:
Terminus (4)	6.340%	January 2031	221,000		221,000
201 North Tryon	3.370%	October 2026	117,939		118,928
Colorado Tower	3.450%	September 2026	100,463		101,199





			439,402		441,127
			$	3,795,902	$	3,357,127

Unamortized original issue discount			(6,817)		(3,246)
Unamortized loan costs			(16,903)		(13,066)
Total Notes Payable			$	3,772,182	$	3,340,815

(1) Interest rate as of March 31, 2026.

(2) Weighted average maturity of notes payable outstanding at March 31, 2026 was 4.1 years, exclusive of unexercised extension options.

(3) The Company has elected six-month Term SOFR through September 3, 2026 for $200 million and Daily SOFR for $200 million.

(4) Represents $123.0 million and $98.0 million non-cross-collateralized mortgages secured by the Terminus 100 and Terminus 200 buildings, respectively.

Summary of Interest Recorded

For the three months ended March 31, 2026, and 2025, interest expense was recorded as follows ($ in thousands):


	Three Months Ended March 31,
	2026		2025
Total interest incurred	$	46,293	$	39,157
Interest capitalized	(1,192)		(2,383)
Total interest expense	$	45,101	$	36,774

COUSINS PROPERTIES INC 10-Q