BIRMINGHAM, Ala., Jan. 27 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) (the "Company") a real estate investment trust (REIT) that
owns a diversified portfolio of multifamily, office and retail properties
announced today that its operating partnership, Colonial Realty Limited
Partnership, has completed an offering of $275 million, 4.750% senior
unsecured notes due February 1, 2010. Interest on the notes will be payable
semi-annually on the 1st of every February and August beginning August 1,
2005. The notes were priced to yield 4.751%, representing a 105 basis point
spread over the 5-year Treasury. The net proceeds of approximately
$273.3 million will be used to pay down the bridge facility and for general
corporate purposes.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c )
Citigroup, Bear Stearns & Co., Inc. and UBS Investment Bank acted as joint
book-running managers for the transaction. Banc of America Securities, LLC
and JPMorgan acted as co-managers.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the securities
in any state in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state.
Colonial Properties Trust is a diversified REIT that, through its
subsidiaries, owns a portfolio of multifamily, office and retail properties
where you live, work and shop in Alabama, Florida, Georgia, Mississippi, North
Carolina, South Carolina, Tennessee, Texas and Virginia. Colonial Properties
Trust performs development, acquisition, management, leasing and brokerage
services for its portfolio and properties owned by third parties. Colonial
Properties Trust is a diversified REIT, which has a total market
capitalization in excess of $3.5 billion. The foundation of Colonial
Properties' success is its live, work and shop diversified investment
strategy. The Company manages or leases 29,100 apartment units, 6.8 million
square feet of office space and 15.6 million square feet of retail shopping
space. Additional information on Colonial Properties Trust is available on
the Internet at http://www.colonialprop.com. The Company, headquartered in
Birmingham, Ala., is listed on the New York Stock Exchange under the symbol
"CLP" and is included in the S&P SmallCap 600 Index.
SOURCE Colonial Properties Trust
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Related links:
http://www.colonialprop.com
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CONTACT:
Barbara M. Pooley, Senior Vice President -
Investor Relations, +1-800-645-3917, or Linda S. Geiss, Vice
President - Media Relations, +1-205-250-8768, both of Colonial
Properties Trust
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