BIRMINGHAM, Ala., Nov. 21 /PRNewswire-FirstCall/ -- Colonial Properties
Trust (NYSE: CLP) announced today that Infinity Property and Casualty
Corporation ("Infinity") (Nasdaq: IPCC) will relocate its corporate
headquarters to Colonial Center at Colonnade on or prior to April 1, 2005.
Infinity is a national provider of personal automobile insurance.
Infinity Insurance Company has leased 100,721 square feet, or 65% of 3700
Colonnade Parkway, one of five Class A office buildings in the 106-acre mixed-
use development acquired by Colonial Properties in 2002.
"We are excited about Infinity's decision to relocate its headquarters to
Colonial Center at Colonnade," stated Dallas Whitaker, Vice President with
Colonial Properties Trust. "Colonial Properties' commitment to creating and
providing its office clients High Performance Workplaces(R) allows companies
like Infinity to attract and retain a quality workforce."
"We very much look forward to our move into this attractive and
conveniently located facility," stated Jim Gober, President and CEO of
Infinity.
Robert Simon of Corporate Realty Associates, Inc. in conjunction with The
Staubach Company of Dallas, Texas represented Infinity in the transaction.
This lease is the largest reported in the Birmingham MSA this year.
About Infinity Property & Casualty Corporation
Infinity Property and Casualty Corporation is a national provider of
personal automobile insurance with an emphasis on nonstandard auto insurance.
Its products are offered through a network of approximately 14,000 independent
agencies.
About Colonial Properties Trust
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 $2.8 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. 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
CONTACT:
Linda Geiss, Colonial Properties Trust, at
+1-205-250-8768, lgeiss@colonialprop.com ; or Amy Starling,
Infinity Property and Casualty Corporation, at +1-205-803-8186,
amy.starling@ipacc.com
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