Most large office REITs, or real estate investment trusts, concentrate on major gateway cities along the coasts. Office space in these regions tends to always be in high demand, enabling these landlords to steadily grow their rental rates.
With me today are Colin Connolly, our President and Chief Executive Officer; Richard Hickson, our Executive Vice President of Operations; and Gregg Adzema, our Chief Financial Officer. The press release and supplemental package were distributed yesterday afternoon as well as furnished on Form 8-K. In the supplemental package, the company has reconciled all non-GAAP financial measures to the most directly comparable GAAP measures in accordance with Reg G requirements.
Cousins Properties' (CUZ) Q1 results reflect the impacts of a decline in rental property revenues.