Colonial Properties Trust Sells Stake in Two Retail Centers
BIRMINGHAM, AL-Colonial Properties Trust, a real estate investment trust based in Birmingham, has sold its stake in two shopping centers. The REIT has sold its 5% interest in Colonial Promenade Alabaster II/Tutwiler II, a 420,000-square-foot retail center in Birmingham, to its joint partner for an amount of $2.4 million.
The REIT has also sold its 50% stake in Colonial Pinnacle Turkey Creek, a shopping center in Knoxville, Tennessee, for an amount of $65.9 million. For the full story, go to Birmingham Business Journal .
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