BIRMINGHAM, Ala., Aug. 16 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) has announced that all but one of its properties in Florida,
Georgia, South Carolina, North Carolina and Virginia sustained only minor
damage from Hurricane Charley. The damage primarily relates to landscaping
debris and roof tiles. Repairs and clean up are underway and expect to
complete the exterior work in twenty-four to forty-eight hours.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030709/CLPLOGO-c )
One property, Colonial Promenade at Burnt Store, located in Punta Gorda,
Florida did suffer significant damage. The 200,000 square foot center is
anchored by Publix Supermarket and contains a 90,000 square foot space
formerly occupied by K-Mart that Home Depot plans to acquire. The center is
temporarily closed pending evaluation and repair.
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 $3.4 billion. The cornerstone of Colonial Properties'
success is its live, work and shop diversified investment strategy. The
Company manages or leases 22,400 apartment units, 6.8 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
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CONTACT:
Linda S. Geiss, Vice President - Corporate
Affairs of Colonial Properties Trust, +1-205-250-8768
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