ATLANTA, April 18 /PRNewswire-FirstCall/ -- In a strategic move to further
increase its Atlanta portfolio through new development and acquisitions,
Colonial Properties Trust (NYSE: CLP) today named Tom Hallowell as Senior Vice
President of its Atlanta-based Office Division. Hallowell brings extensive
experience to his new post through a 20-year background in transaction and
business development. The addition to the Colonial team will allow Glenn
Aspinwall, Vice President, to concentrate on client service and office
leasing.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c )
"Tom's national and regional investor relationships are the perfect
complement to our growth strategy," said Bo Jackson, Executive Vice President
of the Office Division. "His addition to the team will certainly help us
translate our ambitious growth goals for Atlanta and other Southeastern
markets into genuine opportunities. That means continued support for Smart
Growth for Metro Atlanta and other Southeastern cities."
Hallowell has worked in Atlanta since 1998 and comes to Colonial
Properties from Wells Real Estate Funds, where he served as Senior Vice
President of Acquisitions. Prior to that, he worked for Cushman & Wakefield as
Managing Director for the finance advisory group and for
PricewaterhouseCoopers as Director of Real Estate Advisory Services.
"Atlanta's capital markets activities during 2004 were unprecedented in
terms of transaction volume and the entrance of a number of first-time
institutional investors," said Hallowell. "Over the next 10 years, Atlanta
will continue to grow at a rapid pace, creating plenty of opportunity for
firms such as Colonial Properties with its diverse platform and access to
capital."
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, Virginia, Tennessee, Texas, Arizona, Nevada and New
Mexico. Colonial Properties Trust performs development, acquisition,
management, leasing and brokerage services for its portfolio and properties
owned by third parties. The Company has a total market capitalization of
approximately $5 billion. The foundation of Colonial Properties' success is
its live, work and shop diversified investment strategy. The Company manages
or leases approximately 50,000 apartment units, 6.8 million square feet of
office space and 15.1 million square feet of retail shopping space. In 2003,
the National Association of Industrial and Office Properties (NAIOP) named
Colonial Properties Trust "National Developer of the Year." 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, +1-704-376-1774, or Bo Jackson, Executive
Vice President - Office Division, +1-678-461-3303, both of
Colonial Properties Trust
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