Colonial Properties Trust Sells Metropolitan Midtown Project for $94.4M

Colonial Properties Trust

, today announced the sale of Metropolitan Midtown, its mixed-use project located in Charlotte, North Carolina, for $94.4 million in cash. Colonial Properties Trust (the Company) also announced it has adjusted its previously announced results for the fourth quarter and year ended December 31, 2012, due to a jury verdict in the previously disclosed Colonial Grand at Traditions litigation in the Circuit Court of Baldwin County, Alabama. Metropolitan Midtown Disposition Opened in 2008, Metropolitan Midtown comprises 170,000 square feet of office space and 172,000 square feet of retail space, and was 93.5 percent occupied at December 31, 2012. The sales proceeds will be used