Profile: Colonial Properties Trust (CLP.N)
23.82USD
4:04pm EDT
$-0.39 (-1.61%)
$24.21
$24.15
$24.45
$23.65
300,681
304,060
$25.26
$19.66
Colonial Properties Trust (the Trust) is a multifamily-focused self-administered equity real estate investment trust (REIT) that owns, operates and develops multifamily communities primarily located in the Sunbelt region of the United States. The Company is a fully-integrated real estate company, engaged in the acquisition, development, ownership, management and leasing of multifamily apartment communities and other commercial real estate properties. Its activities include full or partial ownership and operation of 153 properties as of December 31, 2011, located in Alabama, Arizona, Florida, Georgia, Louisiana, Nevada, North Carolina, South Carolina, Tennessee, Texas and Virginia, development of new properties, acquisition of existing properties, build-to-suit development and the provision of management, leasing and brokerage services for commercial real estate. The Company operates in two segments: multifamily and commercial. As of December 31, 2011, the Company had four development projects under construction, three multifamily projects and one commercial project. During the year ended December 31, 2011, the Trust sold six wholly owned multifamily apartments. It also disposed of two commercial properties consisting of 264,000 square feet in 2011. During 2011, the Company sold 11 residential units at Metropolitan Midtown, located in Charlotte, North Carolina. On January 10, 2012, it acquired Colonial Grand at Brier Falls (formerly Highlands at Brier Creek), a 350-unit Class A multifamily apartment community located in Raleigh, North Carolina. On February 2, 2012, the Company sold its 25% ownership interest in Colonial Promenade Madison, a 111,000 square-foot retail asset located in Huntsville, Alabama. In June 2012, the Company acquired 256-unit Class A apartment community Colonial Grand at Fairview located in Dallas, Texas. In July 2012, the Company sold its remaining 15% interest in the 18-asset DRA/CLP Office joint venture with DRA Advisors LLC. In December 2012, it acquired two Class A apartment communities and sold four apartment communities. In December 2012, the Company sold a portfolio of four multifamily properties to the joint venture, Elco Landmark Residential And Timbercreek Asset Management. In February 2013, it sold its Metropolitan Midtown, mixed-use project located in Charlotte, North Carolina. In March 2013, the Trust announced the purchase of the 280-unit Colonial Grand at Windermere located in Orlando, Florida. In May 2013, Colonial Properties Trust announced the disposition of its Three Ravinia Class A office asset in Atlanta, Georgia.
Multifamily management is responsible for all aspects of multifamily operations, including day-to-day management and leasing of its 113 multifamily apartment communities (including three properties partially owned through unconsolidated joint ventures), as well as providing third-party management services for two apartment communities in which it does not have an ownership interest or has a non-controlling ownership interest. Multifamily management is also responsible for all aspects of the Company’s for-sale residential disposition activities. As of December 31, 2011, it had two for-sale properties remaining, one residential development located in Charlotte, North Carolina, and one lot development located in Mobile, Alabama. Commercial management is responsible for all aspects of its commercial property operations, including the management and leasing services for 39 of the Company’s 40 commercial properties (including 31 properties partially owned through unconsolidated joint ventures), as well as third-party management services for six commercial properties in which it does not have an ownership interest and for brokerage services in other commercial property transactions. Of the 40 commercial properties, 29 are office properties and 11 are retail properties. The Trust is the sole general partner of, and, as of December 31, 2011, owned a 92.4% limited partner interest in, Colonial Realty Limited Partnership (CRLP). The Trust conducts all of its business and owns all of its properties through CRLP and CRLP's various subsidiaries and, as the sole general partner of CRLP, is vested with managerial control and authority over the business and affairs of CRLP.
Company Address
Colonial Properties Trust
Suite 851, 569 Brookwood Village
BIRMINGHAM AL 35209
P: +1205.2508700
F: +1205.2508890
Company Web Links
| Name | Compensation |
|---|---|
Thomas Lowder |
3,159,220 |
Bradley Sandidge |
657,588 |
Paul Earle |
2,087,650 |
Jerry Brewer |
530,939 |
John Rigrish |
721,802 |

