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Investment in Unconsolidated Joint Ventures | 9 Months Ended
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Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract] |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES | INVESTMENT IN UNCONSOLIDATED JOINT VENTURES The Company describes its investments in unconsolidated joint ventures in note 5 of the notes to consolidated financial statements in its Annual Report on Form 10-K/A for the year ended December 31, 2014. The following table summarizes balance sheet data of the Company's unconsolidated joint ventures as of September 30, 2015 and December 31, 2014 (in thousands):
| Total Assets |  | Total Debt |  | Total Equity |  | Company’s Investment |
SUMMARY OF FINANCIAL POSITION: | 2015 |  | 2014 |  | 2015 |  | 2014 |  | 2015 |  | 2014 |  | 2015 |  | 2014 |
Terminus Office Holdings LLC | $ | 285,336 |  |  | $ | 288,415 |  |  | $ | 211,835 |  |  | $ | 213,640 |  |  | $ | 59,753 |  |  | $ | 62,830 |  |  | $ | 30,814 |  |  | $ | 32,323 |  |
EP I LLC | 83,256 |  |  | 85,228 |  |  | 58,030 |  |  | 58,029 |  |  | 24,172 |  |  | 26,671 |  |  | 22,249 |  |  | 22,905 |  |
EP II LLC | 70,233 |  |  | 42,772 |  |  | 39,149 |  |  | 12,735 |  |  | 24,818 |  |  | 24,969 |  |  | 19,834 |  |  | 19,905 |  |
Charlotte Gateway Village, LLC | 127,373 |  |  | 130,272 |  |  | 22,143 |  |  | 35,530 |  |  | 101,339 |  |  | 92,808 |  |  | 11,193 |  |  | 11,218 |  |
HICO Victory Center LP | 12,883 |  |  | 10,450 |  |  | — |  |  | — |  |  | 12,835 |  |  | 10,450 |  |  | 9,000 |  |  | 7,572 |  |
Carolina Square Holdings LP | 9,959 |  |  | — |  |  | — |  |  | — |  |  | 8,178 |  |  | — |  |  | 4,778 |  |  | — |  |
CL Realty, L.L.C. | 7,550 |  |  | 7,264 |  |  | — |  |  | — |  |  | 7,389 |  |  | 7,042 |  |  | 3,724 |  |  | 3,546 |  |
Temco Associates, LLC | 967 |  |  | 6,910 |  |  | — |  |  | — |  |  | 386 |  |  | 6,709 |  |  | 1,070 |  |  | 3,027 |  |
HICO Avalon LLC | 1,130 |  |  | — |  |  | — |  |  | — |  |  | 900 |  |  | — |  |  | 806 |  |  | — |  |
Wildwood Associates | 16,501 |  |  | 16,400 |  |  | — |  |  | — |  |  | 16,384 |  |  | 16,389 |  |  | (1,108 | ) | (1) | (1,106 | ) | (1)
Crawford Long - CPI, LLC | 29,900 |  |  | 29,946 |  |  | 74,645 |  |  | 75,000 |  |  | (46,627 | ) |  | (45,762 | ) |  | (22,216 | ) | (1) | (21,931 | ) | (1)
Other | 1,100 |  |  | 1,411 |  |  | — |  |  | — |  |  | 880 |  |  | 979 |  |  | 2 |  |  | 2 |  |
| $ | 646,188 |  |  | $ | 619,068 |  |  | $ | 405,802 |  |  | $ | 394,934 |  |  | $ | 210,407 |  |  | $ | 203,085 |  |  | $ | 80,146 |  |  | $ | 77,461 |  |
(1) Negative balances are included in deferred income on the balance sheets. The following table summarizes statement of operations information of the Company's unconsolidated joint ventures for the nine months ended September 30, 2015 and 2014 (in thousands):
| Total Revenues |  | Net Income (Loss) |  | Company's Share of Income (Loss)
SUMMARY OF OPERATIONS: | 2015 |  | 2014 |  |  | 2015 |  | 2014 |  |  | 2015 |  | 2014 |
Terminus Office Holdings LLC | $ | 30,144 |  |  | $ | 29,354 |  |  |  | $ | 1,923 |  |  | $ | 314 |  |  |  | $ | 962 |  |  | $ | 134 |  |
EP I LLC | 9,587 |  |  | 9,024 |  |  |  | 2,481 |  |  | 2,102 |  |  |  | 1,864 |  |  | 1,577 |  |
EP II LLC | 536 |  |  | — |  |  |  | (150 | ) |  | — |  |  |  | (100 | ) |  | — |  |
Charlotte Gateway Village, LLC | 25,311 |  |  | 25,079 |  |  |  | 9,438 |  |  | 8,635 |  |  |  | 883 |  |  | 882 |  |
CL Realty, L.L.C. | 674 |  |  | 1,240 |  |  |  | 346 |  |  | 846 |  |  |  | 178 |  |  | 410 |  |
Temco Associates, LLC | 9,163 |  |  | 793 |  |  |  | 2,077 |  |  | 157 |  |  |  | 2,244 |  |  | (24 | ) |
Wildwood Associates | — |  |  | 29 |  |  |  | (89 | ) |  | (125 | ) |  |  | (45 | ) |  | (50 | ) |
Crawford Long - CPI, LLC | 9,193 |  |  | 8,905 |  |  |  | 2,131 |  |  | 2,075 |  |  |  | 1,071 |  |  | 1,062 |  |
Cousins Watkins LLC | — |  |  | 3,801 |  |  |  | — |  |  | 217 |  |  |  | — |  |  | 1,702 |  |
Other | — |  |  | 5 |  |  |  | (95 | ) |  | (245 | ) |  |  | 31 |  |  | (350 | ) |
| $ | 84,608 |  |  | $ | 78,230 |  |  |  | $ | 18,062 |  |  | $ | 13,976 |  |  |  | $ | 7,088 |  |  | $ | 5,343 |  |
On May 1, 2015, Carolina Square Holdings LP ("Carolina Square") was formed between the Company and NR 123 Franklin LLC ("Northwood Ravin"). Carolina Square is a 50-50 joint venture formed for the purpose of developing and constructing a mixed-use property in Chapel Hill, North Carolina pursuant to a ground lease. Upon formation, each partner contributed $1.7 million in cash towards pre-development costs. Carolina Square also entered into a construction loan agreement, secured by the project, which is expected to provide up to $79.8 million to fund future construction costs. The loan bears interest at LIBOR plus 1.90% and matures on May 1, 2018. The Company and Northwood Ravin will each guarantee 12.5% of the outstanding loan amount. As of September 30, 2015, there is no outstanding balance on this construction loan. On August 10, 2015, HICO Avalon LLC ("HICO Avalon"), a joint venture between the Company and Hines Avalon Investor LLC ("Hines"), was formed for the purpose of acquiring and potentially developing an office building in Alpharetta, Georgia. Pursuant to the joint venture agreement, all pre-development expenditures, other than land, are funded 75% by Cousins and 25% by Hines. If the project moves forward and HICO Avalon acquires land and commences construction, the acquisition of land and subsequent development expenditures will be funded 90% by Cousins and 10% by Hines. As of September 30, 2015, the Company accounts for its investment in HICO Avalon under the equity method as it does not currently control the activities of the venture. If the project moves to commence construction, the capital accounts and economics of the venture will be adjusted such that the Company will effectively own at least 90% of the venture, and Hines will own up to 10%. Additionally, Cousins will have unilateral control over the operational aspects of the venture, and the Company expects to consolidate the venture at that time. The Company's investment in HICO Avalon at September 30, 2015 includes only its share of pre-development expenditures.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=49116238&loc=d3e32847-111569 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 35 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=49116238&loc=d3e32787-111569 + Details
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