Colonial Properties Trust Reports Results for First Quarter 2013 Business Wire BIRMINGHAM, Ala. -- April 25, 2013 Colonial Properties Trust (NYSE: CLP) announced its results for the quarter ended March 31, 2013. For the first quarter 2013, the company reported net income available to common shareholders (EPS) of $5.6 million, or $0.06 per diluted share, compared with a net loss available to common shareholders of $6.0 million, or $0.07 per diluted share, for the same period in 2012. The first quarter 2013 included a gain of $7.2 million, or $0.08 per diluted share, related to the sale of Metropolitan Midtown in February for total sales proceeds of $94.4 million. Funds from Operations Available to Common Shareholders and Unitholders (FFO), a widely accepted measure of REIT performance, for the first quarter 2013 was $31.8 million, or $0.34 per diluted share, compared with $28.0million, or $0.30 per diluted share, for the same period in 2012. The increase in the first quarter 2013 FFO is primarily a result of a 6.8 percent increase in multifamily same-property net operating income (NOI) as a result of improving rental rates and the income derived from the acquisition and development of multifamily apartment communities, offset by properties sold since January 1, 2012. A reconciliation of net income/loss available to common shareholders to FFO, and a reconciliation of NOI to income/loss from continuing operations, as well as definitions and statements of purpose are included in the financial tables accompanying this press release. Thomas H. Lowder, Chairman and Chief Executive Officer, noted, “Simplified and stronger best describe the company and the progress we have made over the past few years. We now have over 90 percent of our total net operating income being generated from multifamily apartment communities, and our same property portfolio continues to deliver solid results. Our multifamily development pipeline is creating significant value for our shareholders, while the disposition of our commercial assets continues to strengthen our balance sheet and simplify the company.” Highlights for the First Quarter 2013 *Multifamily same-property NOI increased 6.8 percent compared with first quarter 2012 *Multifamily same-property revenue increased 5.2 percent compared with firstquarter2012 *Ended the quarter with multifamily same-property physical occupancy of 96.1 percent *Acquired the 280-unit Colonial Grand at Windermere in Orlando, Florida, for $43.0million *Completed two apartment community developments totaling 404 units and an investment of $40.3 million *Sold Metropolitan Midtown in Charlotte, North Carolina, for $94.4 million in cash Multifamily Operating Performance Multifamily NOI for the first quarter 2013 increased 6.8 percent compared with the first quarter 2012 for the 31,436 apartment homes included in the consolidated same-property results. Multifamily same-property revenues increased 5.2 percent and expenses increased 2.8percent compared with the first quarter 2012. The increase in revenues was primarily due to an improvement in renewal lease rates and a consistently high occupancy level. The increase in expenses is primarily due to an increase in property taxes. Sequentially, multifamily same-property NOI for the first quarter 2013 increased 1.2 percent compared with the fourth quarter 2012, with revenues increasing 0.5 percent and expenses decreasing 0.7 percent compared with the prior quarter. Development Activity During the quarter, the company completed construction of Colonial Grand at Double Creek, a $28.3 million development with 296 units in Austin, Texas, and Colonial Grand at Lake Mary (Phase II), a $12.0 million development with 108 units in Orlando, Florida. The company began construction during the quarter on Colonial Grand at Lake Mary (Phase III), a $16.1 million development with 132 units in Orlando, Florida. Construction continued during the quarter on three wholly-owned apartment communities: Colonial Reserve at South End, a $59.3 million development with 353 units in Charlotte, North Carolina; Colonial Grand at Randal Lakes, a $57.0 million development with 462 units in Orlando, Florida; and Colonial Grand at Ayrsley (Phase II), a $9.1 million development with 81 units in Charlotte, North Carolina. Acquisitions In March 2013, the company purchased the 280-unit Colonial Grand at Windermere, a Class A garden-style apartment community located in the Orlando submarket of Windermere, Florida, for a total purchase price of $43.0 million. The apartment community was built in 2009 and 95.0percent occupied at March 31, 2013. Dispositions In February 2013, the company sold its 342,000 square-foot mixed-use property, Metropolitan Midtown, located in Charlotte, North Carolina, for $94.4 million in cash. The sales proceeds were used to pay down a portion of the outstanding balance under the company’s unsecured line of credit and fund the company’s development pipeline. In January 2013, the company sold its remaining 10 percent ownership interest in the 388,000-square-foot retail center Colonial Promenade at Hoover in Birmingham, Alabama. The company received $0.5 million in cash and no longer has responsibility for $1.5 million of associated mortgage debt, which represented the company’s pro-rata share of such debt. Subsequent to quarter end, in April 2013, the company sold Colonial Reserve at West Franklin, a 332-unit apartment community located in Richmond, Virginia, for $23.8 million. The property was 49 years old and had an average monthly rent of $704 per unit. Quarterly Dividend on Common Shares On April 24, 2013, the Board of Trustees declared a quarterly cash dividend on common shares for the second quarter 2013 of $0.21 per common share. The dividend is payable May13,2013, to shareholders of record as of May6,2013, representing an ex-dividend date of May2,2013. 2013 EPS and FFO per Share Guidance The company confirmed its previously issued guidance range for the full-year 2013 for EPS and FFO per share, with certain assumptions and the timing of certain transactions, as set forth and reconciled below: Full-Year 2013 Range Low – High Diluted EPS $0.29 – $0.45 Plus: Real Estate Depreciation & Amortization 1.35 – 1.35 Less: Gain on Sale of Operating Properties (0.30) – (0.40) Total Diluted FFO per share $1.34 – $1.40 Following are the assumptions reflected in the company’s full-year 2013 guidance: *Multifamily same-property net operating income: growth of 4.00 to 6.00 percent. *Revenue: Increase of 4.25 to 5.25 percent *Expense: Increase of 4.00 to 5.00 percent *Development spending of $125 million to $150 million. *Acquisitions of $150 million to $175 million. *Dispositions of $275 million to $325 million. *Corporate G&A expenses of $18 million to $19 million. The company’s guidance range reflects the existence of volatile economic conditions, and is based on a number of assumptions, many of which are outside the company’s control and all of which are subject to change. The company’s guidance may change if actual results vary from these assumptions. For additional details regarding the company’s disposition and investment activities, see the company’s Supplemental Financial Highlights available on the company’s website at www.colonialprop.com. Conference Call and Supplemental Materials The company will hold its quarterly conference call Thursday, April 25, 2013, at 1:30p.m.Central Time. The call will include a review of the company’s first quarter performance, 2013 guidance and a discussion of the company’s strategy and expectations for the future. To participate, please dial 1-800-908-8370. As with previous calls, a replay will be available for seven days by dialing 1-800-633-8284; the conference ID is 21629709. Access to the live call and a replay will also be available through the company’s website at www.colonialprop.com under “Investors: Press Releases: Event Calendar.” Colonial Properties Trust produces a supplemental information package that provides detailed information regarding operating performance, investing activities and the company’s overall financial position. For a copy of Colonial Properties’ detailed Supplemental Financial Highlights, please visit the company’s website at www.colonialprop.com under the “Investors: Financial Information and Filings: Quarterly Supplemental Information” tab, or contact Jerry Brewer in Investor Relations at 1-800-645-3917. Colonial Properties Trust is a multifamily focused real estate investment trust (REIT) that is engaged in the ownership, development, acquisition and management of quality real estate properties in the Sunbelt region of the United States. As of March 31, 2013, the company owns interests in 117 apartment properties containing 35,181 apartment homes and 2.0 million square feet of commercial space. Headquartered in Birmingham, Alabama, Colonial Properties Trust is listed on the New York Stock Exchange under the symbol CLP and is included in the S&P SmallCap 600 index. For more information, please visit the company’s website at www.colonialprop.com. Non-GAAP Financial Measures The company uses certain non-GAAP financial measures in this press release. The non-GAAP financial measures include FFO and NOI. The definitions of these non-GAAP financial measures are summarized below. The company believes that these measures are helpful to investors in measuring financial performance and comparing such performance to other REITs. Funds from Operations — FFO, as defined by the National Association of Real Estate Investment Trusts (NAREIT), means income (loss) before non-controlling interest (determined in accordance with GAAP), excluding gains (losses) from sales of depreciated property and impairment write-downs of depreciable real estate, plus real estate depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures. FFO is a widely recognized measure in the company’s industry and is presented to assist investors in analyzing the company’s performance. The company believes that FFO is useful to investors because it provides an additional indicator of the company’s financial and operating performance. This is because, by excluding the effect of real estate depreciation and amortization, gains (or losses) from sales of properties and impairment write-downs of depreciable real estate (all of which are based on historical costs which may be of limited relevance in evaluating current performance), FFO can facilitate comparison of operating performance among equity REITs. The company believes that the line on its consolidated statements of income entitled “net income available to common shareholders” is the most directly comparable GAAP measure to FFO. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. Since real estate values instead have historically risen or fallen with market conditions, many industry investors and analysts have considered presentation of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. Thus, NAREIT created FFO as a supplemental measure of REIT operating performance that excludes historical cost depreciation, among other items, from GAAP net income. Management believes that the use of FFO, combined with the required primary GAAP presentations, is fundamentally beneficial, improving the understanding of operating results of REITs among the investing public and making comparisons of REIT operating results more meaningful. In addition to company management evaluating the operating performance of its reportable segments based on FFO results, management uses FFO and FFO per share, along with other measures, to assess performance in connection with evaluating and granting incentive compensation to key employees. Property Net Operating Income - The company uses property NOI, including same-property NOI, as an operating measure. NOI is defined as total property revenues, including unconsolidated partnerships and joint ventures, less total property operating expenses (such items as repairs and maintenance, payroll, utilities, property taxes, insurance and advertising). The company believes that in order to facilitate a clear understanding of its operating results, NOI should be examined in conjunction with (loss) income from continuing operations as presented in the company’s consolidated financial statements. The company also believes that NOI is an important supplemental measure of operating performance for a REIT’s operating real estate because it provides a measure of the core operations, rather than factoring in depreciation and amortization, financing costs and general and administrative expenses. This measure is particularly useful, in the opinion of the company, in evaluating the performance of geographic operations, same-property groupings and individual properties. Additionally, the company believes that NOI is a widely accepted measure of comparative operating performance in the real estate investment community. The company believes that the line on its consolidated statements of income entitled “(loss) income from continuing operations” is the most directly comparable GAAP measure to NOI. In addition to company management evaluating the operating performance of its reportable segments based on NOI results, management uses NOI, along with other measures, to assess performance in connection with evaluating and granting incentive compensation to key employees. The company’s method of calculating FFO and NOI may be different from methods used by other REITs and, accordingly, may not be comparable to such other REITs. FFO and NOI should not be considered (1) as an alternative to net income (determined in accordance with GAAP), (2) as an indicator of financial performance, (3) as cash flow from operating activities (determined in accordance with GAAP) or (4) as a measure of liquidity, nor is it indicative of sufficient cash flow to fund all of the company’s needs, including the company’s ability to make distributions. Safe Harbor Statement “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Estimates of future earnings are, by definition, and certain other statements in this press release, including statements regarding future dispositions and developments, development costs, operating performance outlook, and other business fundamentals, may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve known and unknown risks, uncertainties and other factors that may cause the company’s actual results, performance, achievements or transactions to be materially different from the results, performance, achievements or transactions expressed or implied by the forward looking statements. Factors that impact such forward looking statements include, among others, changes in national, regional and local economic conditions, which may be negatively impacted by concerns about inflation, deflation, government deficits (including the European sovereign debt crisis), high unemployment rates, decreased consumer confidence and liquidity concerns, particularly in markets in which we have a high concentration of properties; exposure, as a multifamily REIT, to risks inherent in investments in a single industry; ability to obtain financing on favorable rates, if at all; performance of affiliates or companies in which we have made investments; changes in operating costs; higher than expected construction costs; uncertainties associated with the timing and amount of real estate disposition and the resulting gains/losses associated with such dispositions; legislative or regulatory decisions; the company’s ability to continue to maintain our status as a REIT for federal income tax purposes; price volatility, dislocations and liquidity disruptions in the financial markets and the resulting impact on availability of financing; the effect of any rating agency action on the cost and availability of new debt financings; level and volatility of interest rates or capital market conditions; effect of any terrorist activity or other heightened geopolitical crisis; or other factors affecting the real estate industry generally. Except as otherwise required by the federal securities laws, the company assumes no responsibility to update the information in this press release. The company refers you to the documents filed by the company from time to time with the Securities and Exchange Commission, specifically the section titled “Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December31, 2012, as may be updated or supplemented in the company’s Form 10-Q filings, which discuss these and other factors that could adversely affect the company’s results. COLONIAL PROPERTIES TRUST Financial Statements First Quarter 2013 BALANCE SHEET ($ in 000s) As of As of 3/31/2013 12/31/2012 ASSETS Real Estate Assets Operating Properties $ 3,563,090 $ 3,489,324 Undeveloped Land & Construction in Progress 268,910 296,153 Total Real Estate, before Depreciation 3,832,000 3,785,477 Less: Accumulated Depreciation (832,881 ) (804,964 ) Real Estate Assets Held for Sale, net 35,498 93,450 Net Real Estate Assets 3,034,617 3,073,963 Cash and Equivalents 8,661 11,674 Restricted Cash 8,892 38,128 Accounts Receivable, net 23,449 23,977 Notes Receivable 42,107 42,399 Prepaid Expenses 13,448 19,460 Deferred Debt and Lease Costs 20,521 23,938 Investment in Unconsolidated Subsidiaries 7,702 7,777 Other Assets 33,695 44,892 Total Assets $ 3,193,092 $ 3,286,208 LIABILITIES Unsecured Credit Facility $ 116,173 $ 188,631 Notes and Mortgages Payable 1,642,607 1,643,361 Total Debt 1,758,780 1,831,992 Accounts Payable 34,959 53,545 Accrued Interest 16,161 10,209 Accrued Expenses 47,143 41,652 Other Liabilities 33,065 36,751 Total Liabilities 1,890,108 1,974,149 Redeemable Common Units 169,894 162,056 EQUITY Limited Partner's Noncontrolling Interest 104 695 Cumulative Earnings 1,281,694 1,276,118 Cumulative Distributions (1,944,721 ) (1,926,167 ) Common Equity, including Additional Paid-in 1,969,338 1,974,532 Capital Treasury Shares, at Cost (150,163 ) (150,163 ) Accumulated Other Comprehensive Loss (23,162 ) (25,012 ) Total Equity, including Noncontrolling 1,133,090 1,150,003 Interest Total Liabilities and Equity $ 3,193,092 $ 3,286,208 SHARES & UNITS OUTSTANDING, END OF PERIOD (shares and units in 000s) As of As of 3/31/2013 12/31/2012 Basic Shares 88,520 88,212 Operating Partnership Units (OP Units) 7,152 7,153 Total Shares & OP Units 95,672 95,365 COLONIAL PROPERTIES TRUST Financial Statements First Quarter 2013 CONSOLIDATED STATEMENTS OF OPERATIONS ($ in 000s, except per share Three Months Ended data) 3/31/2013 3/31/2012 Revenue Minimum Rent $ 84,843 $ 77,240 Tenant Recoveries 2,495 2,566 Other Property Related Revenue 16,370 12,847 Other Non-Property Related 178 1,344 Revenue Total Revenues 103,886 93,997 Operating Expenses Operating Expenses: Property Operating Expense 27,340 25,271 Taxes, Licenses and Insurance 13,031 10,875 Total Property Operating 40,371 36,146 Expenses Property Management Expense 4,416 2,846 General and Administrative 4,787 5,767 Expense Management Fee and Other 250 2,045 Expenses Investment and Development 400 387 Expenses (1) Depreciation 31,626 29,551 Amortization 1,775 1,872 Impairment and Other Losses 90 500 Total Operating Expenses 83,715 79,114 Income from Operations 20,171 14,883 Other Income (Expense) Interest Expense (22,195 ) (23,053 ) Debt Cost Amortization (1,377 ) (1,433 ) Interest Income 761 1,028 Income from Partially-Owned 670 673 Investments Gain (Loss) on Sale of 10 (227 ) Property Taxes and Other (188 ) (188 ) Total Other Income (Expense) (22,319 ) (23,200 ) Loss from Continuing (2,148 ) (8,317 ) Operations Discontinued Operations Income from Discontinued 1,115 1,866 Operations Gain (Loss) on Disposal of 7,184 (2 ) Discontinued Operations Net Income from Discontinued 8,299 1,864 Operations Net Income (Loss) 6,151 (6,453 ) Noncontrolling Interest Continuing Operations Noncontrolling Interest of (123 ) (9 ) Limited Partners Noncontrolling Interest in CRLP - 169 630 Common Discontinued Operations Noncontrolling Interest in CRLP - (621 ) (142 ) Common (Income) Loss Attributable to (575 ) 479 Noncontrolling Interest Net Income (Loss) Available to $ 5,576 $ (5,974 ) Common Shareholders COLONIAL PROPERTIES TRUST Financial Statements First Quarter 2013 CONSOLIDATED STATEMENTS OF OPERATIONS (continued) Three Months Ended 3/31/2013 3/31/2012 Income (Loss) per Share - Basic Continuing Operations $ (0.03 ) $ (0.09 ) Discontinued Operations 0.09 0.02 EPS - Basic $ 0.06 $ (0.07 ) Income (Loss) per Share - Diluted Continuing Operations $ (0.03 ) $ (0.09 ) Discontinued Operations 0.09 0.02 EPS - Diluted $ 0.06 $ (0.07 ) (1) Reflects costs incurred related to acquisitions and abandoned pursuits . These costs are volatile and therefore may vary between periods. SHARES AND UNITS OUTSTANDING, WEIGHTED (shares and units in 000s) Three Months Ended 3/31/2013 3/31/2012 Basic Shares 87,791 87,012 Operating Partnership Units 7,153 7,169 (OP Units) Total Shares & OP Units 94,944 94,181 Dilutive Common Share - - Equivalents Diluted (1) Shares 87,791 87,012 Total Shares & OP Units 94,944 94,181 (1) For periods where the Company reported a net loss from continuing operations (after preferred dividends), the effect of dilutive shares has been excluded from per share computations as including such shares would be anti-dilutive. COLONIAL PROPERTIES TRUST Financial Statements First Quarter 2013 FUNDS FROM OPERATIONS (FFO) RECONCILIATION ($ in 000s, except per share Three Months Ended data) 3/31/2013 3/31/2012 Net Income (Loss) Available to $ 5,576 $ (5,974 ) Common Shareholders Noncontrolling Interest in CRLP (Operating Partnership 452 (488 ) Unitholders) Total 6,028 (6,462 ) Adjustments - Consolidated Properties Depreciation - Real Estate 31,597 31,961 Amortization - Real Estate 1,817 2,118 Remove: (Gain)/Loss on Sale of Property, net of Income Tax and (7,194 ) 229 Noncontrolling Interest Include: Gain/(Loss) on Sale of Undepreciated Property, net of Income 7 (261 ) Tax and Noncontrolling Interest Total Adjustments - 26,227 34,047 Consolidated Adjustments - Unconsolidated Properties Depreciation - Real Estate 95 1,117 Amortization - Real Estate 2 367 Remove: Gain/(Loss) on Sale of (344 ) (803 ) Property Total Adjustments - (247 ) 681 Unconsolidated Funds from Operations $ 32,008 $ 28,266 Income Allocated to Participating (197 ) (219 ) Securities Funds from Operations Available to $ 31,811 $ 28,047 Common Shareholders and Unitholders FFO per Share Basic $ 0.34 $ 0.30 Diluted $ 0.34 $ 0.30 FFO, as defined by the National Association of Real Estate Investment Trusts (NAREIT), means income (loss) before noncontrolling interest (determined in accordance with GAAP), excluding gains (losses) from sales of depreciated property and impairment write-downs of depreciable real estate, plus real estate depreciation and amortization and after adjustments for unconsolidated partnerships and joint ventures. FFO is presented to assist investors in analyzing the Company's performance. The Company believes that FFO is useful to investors because it provides an additional indicator of the Company's financial and operating performance. This is because, by excluding the effect of real estate depreciation and amortization, gains (or losses) from sales of properties and impairment write-downs of depreciable real estate (all of which are based on historical costs which may be of limited relevance in evaluating current performance), FFO can facilitate comparison of operating performance among equity REITs. FFO is a widely recognized measure in the Company's industry. The Company's method of calculating FFO may be different from methods used by other REITs and, accordingly, may not be comparable to such other REITs. FFO should not be considered (1) as an alternative to net income (determined in accordance with GAAP), (2) as an indicator of financial performance, (3) as cash flow from operating activities (determined in accordance with GAAP) or (4) as a measure of liquidity nor is it indicative of sufficient cash flow to fund all of our needs, including our ability to make distributions. COLONIAL PROPERTIES TRUST Corporate Reconciliations ($ in 000s) RECONCILIATION OF REVENUES Three Months Ended 3/31/2013 3/31/2012 Divisional Total Revenues Multifamily - Same Property $ 86,613 $ 82,293 Multifamily - Non-Same Property (1) 9,158 5,548 Commercial 10,746 17,717 Total Divisional Revenues 106,517 105,558 Less: Unconsolidated Revenues - (292 ) (471 ) Multifamily Less: Unconsolidated Revenues - (457 ) (4,794 ) Commercial Discontinued Operations (2,060 ) (7,640 ) Unallocated Corporate Revenue 178 1,344 Consolidated Revenue Adjusted -'12 103,886 93,997 Discontinued Operations (2) Add: Additional Discontinued - 7,609 Operations Revenue, post filing (3) Total Consolidated Revenue, per 10-Q $ 103,886 $ 101,606 (4) RECONCILIATION OF EXPENSES 3/31/2013 3/31/2012 Divisional Total Expenses Multifamily - Same Property $ 33,220 $ 32,306 Multifamily - Non-Same Property (1) 4,599 2,976 Commercial 3,658 5,731 Total Divisional Expenses 41,477 41,013 Less: Unconsolidated Expenses - (136 ) (217 ) Multifamily Less: Unconsolidated Expenses - (114 ) (1,707 ) Commercial Discontinued Operations (856 ) (2,943 ) Total Property Operating Expenses 40,371 36,146 Property Management Expense 4,416 2,846 General & Administrative Expense 4,787 5,767 Management Fee and Other Expenses 250 2,045 Investment and Development Expenses 400 387 (5) Impairment and Other Losses 90 500 Depreciation 31,626 29,551 Amortization 1,775 1,872 Consolidated Expense Adjusted -'12 83,715 79,114 Discontinued Operations (2) Add: Additional Discontinued - 5,615 Operations Expense, post filing (3) Total Consolidated Expense, per 10-Q $ 83,715 $ 84,729 (4) RECONCILIATION OF NOI 3/31/2013 3/31/2012 Divisional Total NOI Multifamily - Same Property $ 53,393 $ 49,987 Multifamily - Non-Same Property (1) 4,559 2,572 Commercial 7,088 11,986 Total Divisional NOI 65,040 64,545 Less: Unconsolidated NOI - (156 ) (254 ) Multifamily Less: Unconsolidated NOI - Commercial (343 ) (3,087 ) Discontinued Operations (1,204 ) (4,697 ) Unallocated Corporate Revenue 178 1,344 Property Management Expense (4,416 ) (2,846 ) General & Administrative Expense (4,787 ) (5,767 ) Management Fee and Other Expenses (250 ) (2,045 ) Investment and Development Expenses (400 ) (387 ) (5) Impairment and Other Losses (90 ) (500 ) Depreciation (31,626 ) (29,551 ) Amortization (1,775 ) (1,872 ) Income from Operations 20,171 14,883 Total Other Income (Expense) (22,319 ) (23,200 ) Loss from Continuing Operations (6) (2,148 ) (8,317 ) Discontinued Operations - 1,997 Loss from Continuing Operations, per $ (2,148 ) $ (6,320 ) 10-Q (4) (1) Includes operations from for-sale portfolio. (2) Reflects total consolidated revenue and total consolidated expense (as applicable), adjusted to reflect discontinued operations classifications made after filing of prior period financials. (3) Adjustment to prior period financials to reflect discontinued operations classifications made after filing of prior period financials. (4) For prior period, reflects total consolidated revenue, expense or income (loss) from continuing operations (as applicable) as presented in prior period financials (i.e., excluding adjustment for discontinued operations classifications made after filing of prior period financials). (5) Reflects costs incurred related to acquisitions and abandoned pursuits. These costs are volatile and therefore may vary between periods. (6) Loss from Continuing Operations before extraordinary items, noncontrolling interest and discontinued operations. Adjustments for additional discontinued operations have restated prior periods in accordance with ASC 205-20. Contact: Colonial Properties Trust Jerry A. Brewer, 800-645-3917 Executive Vice President, Finance
Colonial Properties Trust Reports Results for First Quarter 2013
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