Market Overview

Colonial Properties Trust Sells Metropolitan Midtown Project for $94.4M

Colonial Properties Trust (NYSE: CLP), 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

See full press release

Posted-In: News Guidance Contracts Asset Sales Management Global

 

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