BIRMINGHAM, Ala., Sept. 20 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) announced today that it has acquired Boulevard Square, a
221,000 retail shopping center in Fort Lauderdale, Florida. Located on Pines
Boulevard and Hiatus Road, the center is anchored by Office Max, Ross Dress
for Less, Sports Authority, and TJ Maxx. The property will be renamed
Colonial Promenade Boulevard Square and is adjacent to the recently acquired
Colonial Shoppes Pines Plaza.
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"The addition of this property to our South Florida portfolio is an
extension of the recent acquisitions in Fort Lauderdale and Fort Myers,"
stated Thomas H. Lowder, chairman and chief executive officer of Colonial
Properties Trust. "Each of these properties is located in high traffic areas
with solid demographics. The Company will continue to seek opportunities to
increase its retail exposure in these types of high-growth Sunbelt markets."
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:
Sandra Lee Robertson, Senior Vice President -
Finance of Colonial Properties Trust, +1-205-250-8788
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