February 01, 2015 10:13 AM ET

Real Estate Investment Trusts (REITs)

Company Overview of Colonial Realty Limited Partnership

Company Overview

Colonial Realty Limited Partnership engages in the acquisition, development, ownership, management, and leasing of multifamily communities and other commercial real estate properties in the Sunbelt region of the United States. As of March 31, 2012, it owned and operated a portfolio of 153 properties consisting of 114 multifamily apartment communities and 39 commercial properties located in Alabama, Arizona, Florida, Georgia, Louisiana, Nevada, North Carolina, South Carolina, Tennessee, Texas, and Virginia. The company also owns parcels of land. Colonial Properties Trust operates as the general partner of the company. The company was founded in 1993 and is based in Birmingham, Alabama. Coloni...

2101 Sixth Avenue North

Suite 750

Birmingham, AL 35203-2775

United States

Founded in 1993

911 Employees

Phone:

205-250-8700

Key Executives for Colonial Realty Limited Partnership

Chairman of the Board of Colonial Properties Trust
Age: 64
President of Colonial Properties Trust and Chief Financial Officer of Colonial Properties Trust
Age: 49
Chief Operating Officer of Colonial Properties Trust
Age: 56
Principal Accounting Officer of Colonial Properties Trust and Executive Vice President of Accounting - Colonial Properties Trust
Age: 44
Chief Administrative Officer of Colonial Properties Trust
Age: 65
Compensation as of Fiscal Year 2014.

Colonial Realty Limited Partnership Key Developments

Mid-America Apartments LP Announces Final Results of Exchange Offers

Mid-America Apartment Communities Inc. on December 13, 2013, announced the final results and settlement of the exchange offers by its operating partnership, Mid-America Apartments LP, to exchange any and all of the 6.25% senior notes due 2014, 5.50% senior notes due 2015 and 6.05% senior notes due 2016 issued by Colonial Realty LP for cash and Mid-America Apartments LP's new 6.25% senior notes due 2014, 5.50% senior notes due 2015 and 6.05% senior notes due 2016, respectively, each with registration rights. About $154.2 million, or approximately 80.24%, aggregate principal amount of the existing 2014 notes; $169.2 million, or approximately 91.45%, aggregate principal amount of the existing 2015 notes; and about $68.1 million, or approximately 90.54%, aggregate principal amount of the existing 2016 notes, had been validly tendered. Under the exchange offers' terms, the company accepted all the existing notes that were validly tendered for exchange. The final settlement took place December 13, 2013 and a total of roughly $391.5 million new notes were issued in exchange for such tendered existing notes. A total of about $38 million aggregate principal amount of existing 2014 notes, approximately $15.8 million aggregate principal amount of existing 2015 notes and roughly $7.1 million aggregate principal amount of existing 2016 notes remained outstanding after settlement of the exchange offers.

Colonial Realty Limited Partnership Announces Preliminary Results of the Exchange Offer

Mid-America Apartment Communities Inc. on Nov. 26 provided preliminary results of the exchange offers by its operating partnership to exchange any and all of the 6.25% senior notes due 2014, 5.50% senior notes due 2015 and 6.05% senior notes due 2016 issued by Colonial Realty LP, a wholly owned subsidiary of the operating partnership, for the operating partnership's new 6.25% senior notes due 2014, 5.50% senior notes due 2015 and 6.05% senior notes due 2016, respectively. Mid-America Apartments LP is the company's operating partnership. Holders of 80.24% of the principal amount of the 6.25% notes, 90.57% of the principal amount of the 5.50% notes and 90.54% of the principal amount of the 6.05% notes had validly tendered their notes prior to the early participation and consent date of 5 p.m. ET on Nov. 25. Under the terms of the exchange offers, holders who have previously tendered their existing notes can no longer validly withdraw those notes from the exchange offers. Mid-America Apartments LP, on behalf of Colonial Realty LP, has received the requisite consent from holders of the 6.25% notes, 5.50% notes and 6.05% notes to amend the indentures governing such series of existing notes to allow for the satisfaction of Colonial Realty LP's reporting obligations under such indenture to be satisfied through the filing or delivery of annual reports, quarterly reports and other documents of Mid-America Apartments LP. The consents also allow the removal of substantially all of the restrictive covenants and certain affirmative covenants, elimination of an event of default and modification of certain other provisions. The exchange offers will expire at 11:59 p.m. ET on Dec. 10, unless extended.

Apartments LP 12 Launches Offers to Exchange Colonial Realty LP's Any and All of the 6.25% Senior Notes Due 2014, 5.50% Senior Notes Due 2015 and 6.05% Senior Notes Due 2016

Mid-America Apartments LP on Nov. 12, 2013 launched offers to exchange any and all of the 6.25% senior notes due 2014, 5.50% senior notes due 2015 and 6.05% senior notes due 2016 issued by Colonial Realty LP, a wholly owned subsidiary of Mid-America Apartments LP, for Mid-America Apartments LP's new 6.25% senior notes due 2014, 5.50% senior notes due 2015 and 6.05% senior notes due 2016. Mid-America Apartments LP, on behalf of Colonial Realty LP, is also soliciting consents from holders of each series of the existing notes to amend the indenture governing each series of existing notes to allow for the satisfaction of Colonial Realty LP's reporting obligations under such indenture to be satisfied through the filing or delivery of annual reports, quarterly reports and other documents of Mid-America Apartments LP; to remove substantially all the restrictive covenants and certain affirmative covenants; to eliminate an event of default; and to modify certain other provisions. Existing notes tendered at or prior to 5 p.m. ET on Nov. 25 will be eligible to receive the exchange consideration plus an early participation premium. After this early participation and consent date, but at or before the expiration date, the existing notes tendered will be eligible to receive only the exchange consideration. The exchange offers will expire at 11:59 p.m. ET on Dec. 10, 2013 unless extended.

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