BIRMINGHAM, AL-Colonial Properties Trust, a real estateinvestment trust based in Birmingham, has sold its stake in twoshopping centers. The REIT has sold its 5% interest in ColonialPromenade Alabaster II/Tutwiler II, a 420,000-square-foot retailcenter in Birmingham, to its joint partner for an amount of $2.4million.
The REIT has also sold its 50% stake in Colonial Pinnacle TurkeyCreek, 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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