BIRMINGHAM, Ala., June 23 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) (the "Company") today announced the completion of a public
offering of unsecured debt securities totaling $300 million by its operating
partnership, Colonial Realty Limited Partnership. The 6.25% Notes, which
mature in June 2014, were priced to yield 6.346%. Citigroup Global Markets,
Inc. and Banc of America Securities LLC served as Joint Bookrunning Managers,
with Bear Stearns, SouthTrust and Wachovia as Co-Managers. The Company intends
to use the net proceeds of the offering to pay down the line of credit and
general corporate purposes, which may include future acquisitions.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c )
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 $3.2 billion. The cornerstone of Colonial Properties'
success is its live, work and shop diversified investment strategy. The
Company manages or leases 22,000 apartment units, 6.7 million square feet of
office space and 15.7 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
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Sandra Lee Robertson, Senior Vice President -
Finance of Colonial Properties Trust, +1-205-250-8788
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