Colonial Properties Trust Recruits Tom Hallowell as Senior Vice Presid

ATLANTA, April 18 /PRNewswire-FirstCall/ -- In a strategic move to further increase its Atlanta portfolio through new development and acquisitions, Colonial Properties Trust today named Tom Hallowell as Senior Vice President of its Atlanta-based Office Division. Hallowell brings extensive experience to his new post through a 20-year background in transaction and business development. The addition to the Colonial team will allow Glenn Aspinwall, Vice President, to concentrate on client service and office leasing.

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"Tom's national and regional investor relationships are the perfect complement to our growth strategy," said Bo Jackson, Executive Vice President of the Office Division. "His addition to the team will certainly help us translate our ambitious growth goals for Atlanta and other Southeastern markets into genuine opportunities. That means continued support for Smart Growth for Metro Atlanta and other Southeastern cities."

Hallowell has worked in Atlanta since 1998 and comes to Colonial Properties from Wells Real Estate Funds, where he served as Senior Vice President of Acquisitions. Prior to that, he worked for Cushman & Wakefield as Managing Director for the finance advisory group and for PricewaterhouseCoopers as Director of Real Estate Advisory Services.

"Atlanta's capital markets activities during 2004 were unprecedented in terms of transaction volume and the entrance of a number of first-time institutional investors," said Hallowell. "Over the next 10 years, Atlanta will continue to grow at a rapid pace, creating plenty of opportunity for firms such as Colonial Properties with its diverse platform and access to capital."

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, Virginia, Tennessee, Texas, Arizona, Nevada and New Mexico. Colonial Properties Trust performs development, acquisition, management, leasing and brokerage services for its portfolio and properties owned by third parties. The Company has a total market capitalization of approximately $5 billion. The foundation of Colonial Properties' success is its live, work and shop diversified investment strategy. The Company manages or leases approximately 50,000 apartment units, 6.8 million square feet of office space and 15.1 million square feet of retail shopping space. In 2003, the National Association of Industrial and Office Properties (NAIOP) named Colonial Properties Trust "National Developer of the Year." Additional information on Colonial Properties Trust is available on the Internet at http://www.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