BIRMINGHAM, Ala., April 21 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP), announced today the appointment of Weston M. Andress as
Chief Financial and Investment Officer for the Company. Andress' appointment
culminates an extensive national search to fill the position left available
upon the retirement of Chief Financial Officer Howard B. Nelson. He will
report directly to Colonial Properties Trust's Chief Executive Officer Thomas
H. Lowder.
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Mr. Andress is an experienced public company senior finance executive with
an extensive background in investment banking as well as in mergers,
acquisitions and dispositions for Real Estate Investment Trusts (REIT) and
private real estate companies.
Prior to joining Colonial Properties Trust, Andress held the position of
Managing Director of the Corporate and Investment Banking Department of Bank
of America. During his 15 year tenure with Bank of America Andress worked
directly with many of the largest public and private real estate companies in
the United States fulfilling their investment banking needs which included
equity placement, debt underwriting and merger and acquisition consultation.
Prior to his tenure with Bank of America, he was Vice President in the Real
Estate Capital Markets Group of Salomon Brothers in New York.
"Weston is an exceptional addition to the existing strong team at Colonial
Properties Trust," stated Lowder. "The skills he exhibited at Bank of America
will be advantageous to Colonial Properties as we implement our star strategy
of investing in high-growth Sunbelt cities with quality assets while
maintaining a strong balance sheet."
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 of $3.1 billion. The cornerstone of Colonial Properties'
success is its live, work and shop diversified investment strategy. The
Company manages or leases 19,500 apartment units, 6.5 million square feet of
office space and 15.6 million square feet of retail shopping space. 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:
Sandra Lee Robertson, Senior Vice President -
Finance, of Colonial Properties Trust, +1-205-250-8788
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