Colonial Properties Trust Announces Quarterly Common Dividend

  Colonial Properties Trust Announces Quarterly Common Dividend

Business Wire

BIRMINGHAM, Ala. -- July 8, 2013

Colonial Properties Trust (NYSE: CLP), today announced its Board of Trustees
has approved a quarterly common dividend of $0.21 per share for the third
quarter payable July 31,2013, to shareholders of record as of July 19,2013,
representing an ex-dividend date of July 17,2013.

Colonial Properties Trust is a real estate investment trust (REIT) that
creates value for its shareholders through a multifamily portfolio and the
management and development of select commercial assets in the Sunbelt region
of the United States. As of March 31, 2013, the Company owned, had partial
ownership in or managed 35,181 apartment units and 2.0 million square feet of
commercial space. Headquartered in Birmingham, Alabama, Colonial Properties 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.

Safe Harbor Statement

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of
1995: Certain statements in this press release, 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, 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 focused
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.

Contact:

Colonial Properties Trust
Jerry A. Brewer, 1-800-645-3917
Executive Vice President, Finance