Colonial Properties Trust is a real estate investment trust. Co.'s activities include ownership and operation of 125 properties as of Dec 31 2012, located in Alabama, Arizona, Florida, Georgia, Louisiana, Nevada, North Carolina, South Carolina, Tennessee, Texas and Virginia, development of new properties, acquisition of existing properties, build-to-suit development and the provision of management, leasing and brokerage services for commercial real estate. Co. is the direct general partner of Colonial Realty Limited Partnership (CRLP). Co. conducts its business and owns its properties through CRLP and CRLP's subsidiaries. Co. has two operating segments: multifamily and commercial.