Colonial Properties
From Wikipedia, the free encyclopedia
| Colonial Properties Trust | |
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| Type | Public (NYSE: CLP) |
| Founded | 1970 |
| Headquarters | Birmingham, Alabama, USA |
| Key people | C. Reynolds Thompson, Chief Executive Officer |
| Industry | REIT |
| Revenue | ▲$496 million USD (2006) |
| Employees | 1,550 (2006) |
| Website | http://www.colonialprop.com |
"Colonial Mall" redirects here. All malls with that name are owned by this company.
Colonial Properties Trust NYSE: CLP is a multifamily focused real estate investment trust (REIT). Colonial manages retail, office and multi-family properties.
Founded in 1970, and headquartered in Birmingham, Alabama, Colonial Properties Trust completed its initial public offering in September 1993. The company, which has a current market capitalization of approximately $5.6 billion, and is included in the S&P SmallCap 600 Index.
As of December 31, 2006 the company owns or manages 39,104 apartment units, 17,600,000 square feet (1,640,000 m²) of office space and 12,100,000 square feet (1,120,000 m²) of retail shopping space located in key Sunbelt states spanning Virginia to Nevada.
The third week of December 2007, after the company's stock had dropped by approximately 33% of where it had been a year previous, Colonial fired over twenty-five property managers, suggesting an announcement of corporate restructuring was in development.
