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Colonial Properties Trust Reports Damage From Hurricane Jeanne |
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BIRMINGHAM, Ala., Oct. 1 /PRNewswire-FirstCall/ -- Colonial Properties Trust (NYSE: CLP - News) has announced that the impact from Hurricane Jeanne caused no major structural damage to its Florida properties. The primary effect was to property landscaping with some minor exterior damage being reported. The Company expects the financial impact to be a total of approximately $300,000 to the third quarter results. Repairs and clean up should take approximately two to four weeks.
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 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. |
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