COLONIAL PROPERTIES TRUST - FORM 8-K - EX-99.1 - EXHIBIT 99.1 - February 3, 2011

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8-K - COLONIAL PROPERTIES TRUSTa010311dof.htm
EX-99.2 - EXHIBIT 99.2 - COLONIAL PROPERTIES TRUSTexh992.htm
EX-99.3 - EXHIBIT 99.3 - COLONIAL PROPERTIES TRUSTexh993.htm
 

Exhibit 99.1
COLONIAL PROPERTIES TRUST
Financial Statements
 
 
 
 
 
BALANCE SHEET
 
 
 
($ in 000s)
As of
 
As of
 
12/31/2010
 
12/31/2009
ASSETS
 
 
 
Real Estate Assets
 
 
 
Operating Properties
$
3,331,108
 
 
$
3,210,350
 
Undeveloped Land & Construction in Progress
261,955
 
 
237,100
 
     Total Real Estate, before Depreciation
3,593,063
 
 
3,447,450
 
 
 
 
 
Less: Accumulated Depreciation
(640,981
)
 
(519,728
)
Real Estate Assets Held for Sale, net
16,861
 
 
65,022
 
     Net Real Estate Assets
2,968,943
 
 
2,992,744
 
Cash and Equivalents
4,954
 
 
4,590
 
Restricted Cash
9,294
 
 
7,952
 
Accounts Receivable, net
20,734
 
 
33,934
 
Notes Receivable
44,538
 
 
22,208
 
Prepaid Expenses
23,225
 
 
16,503
 
Deferred Debt and Lease Costs
23,035
 
 
22,560
 
Investment in Unconsolidated Subsidiaries
22,828
 
 
17,422
 
Other Assets
53,583
 
 
54,719
 
     Total Assets
$
3,171,134
 
 
$
3,172,632
 
 
 
 
 
LIABILITIES
 
 
 
Long-Term Liabilities
 
 
 
Unsecured Credit Facility
$
377,362
 
 
$
310,546
 
Notes and Mortgages Payable
1,384,209
 
 
1,393,797
 
     Total Long-Term Liabilities
1,761,571
 
 
1,704,343
 
Accounts Payable
38,915
 
 
28,299
 
Accrued Interest
12,002
 
 
13,133
 
Accrued Expenses
15,267
 
 
26,142
 
Investment in Unconsolidated Subsidiaries
23,809
 
 
—
 
Other Liabilities
14,274
 
 
15,054
 
     Total Liabilities
1,865,838
 
 
1,786,971
 
 
 
 
 
Redeemable Common Units
145,539
 
 
133,537
 
 
 
 
 
EQUITY
 
 
 
Noncontrolling Interest
 
 
 
Series B 7 1/4%, Preferred Units
50,000
 
 
100,000
 
Limited Partner's Noncontrolling Interest
769
 
 
985
 
     Total Noncontrolling Interest
50,769
 
 
100,985
 
 
 
 
 
Series D 8 1/8% Preferred Shares (Liquidation Value)
—
 
 
100,118
 
Cumulative Earnings
1,260,944
 
 
1,296,188
 
Cumulative Distributions
(1,808,700
)
 
(1,753,015
)
Common Equity, including Additional Paid-in Capital
1,809,138
 
 
1,660,968
 
Treasury Shares, at Cost
(150,163
)
 
(150,163
)
Accumulated Other Comprehensive Loss
(2,231
)
 
(2,957
)
     Total Equity, including Noncontrolling Interest
1,159,757
 
 
1,252,124
 
Total Liabilities and Equity
$
3,171,134
 
 
$
3,172,632
 
SHARES & UNITS OUTSTANDING, END OF PERIOD
 
 
 
(shares and units in 000s)
As of
 
As of
 
12/31/2010
 
12/31/2009
Basic
 
 
 
     Shares
78,334
 
 
66,366
 
     Operating Partnership Units (OP Units)
7,300
 
 
8,163
 
     Total Shares & OP Units
85,634
 
 
74,529
 

 

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