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FOR IMMEDIATE RELEASE
May 25, 2007
For More Information:
Chris Schroder, SchroderPR, 404.872.7289
chris@schroderpr.com
Kay Younglove, Colonial Properties Trust, 770.395.5200
KYounglove@colonialprop.com
Colonial Properties Signs Eclipsys Corporation To Three Ravinia Drive Lease
ATLANTA, May 25, 2007 - Colonial Properties Trust (NYSE: CLP), a real estate investment trust that owns a portfolio of multifamily, office and retail properties, signed Eclipsys Corporation to a 10-year lease for 78,016 square feet in its Three Ravinia Drive building, located at the Ravinia complex at the intersection of I-285 and Ashford Dunwoody Road in Atlanta.
"This lease with Eclipsys is a prime example of our buying strategy paying off," said Kay Younglove, vice president, Colonial Properties Trust. "We purchased this building in the spring of 2006, when it was 50 percent occupied. This nearly 80,000-square-foot, long-term lease raises occupancy to 88 percent in just over one year."
Eclipsys will move its headquarters from 200 Ashford Center North in Atlanta to Three Ravinia Drive in a phased occupancy starting in the next few months. Eclipsys is a leading provider of information solutions that help hospitals and health systems across North America accelerate delivery of data to health-care professionals.
"With our company's expansion and the growth the medical community is experience, it was only logical that we move into a larger complex and Three Ravinia Drive has all the amenities that we needed and more," said Jay Deady, Eclipsys Executive Vice President, Client Solutions.
About Colonial Properties
Colonial Properties Trust is a multifamily-focused real estate investment trust (REIT) that creates additional value for its shareholders by managing commercial assets through joint venture partnerships and aggressively pursuing development opportunities. As of March 31, 2007, the company owned or managed 40,162 apartment units, 16.8 million square feet of office space and 12.3 million square feet of retail shopping space located in key Sunbelt states from Virginia to California. Headquartered in Birmingham, Ala., Colonial Properties is listed on the New York Stock Exchange under the symbol CLP and is included in the S&P SmallCap 600 Index. For more information, please visit the company's website at www.colonialprop.com.
About Eclipsys Corporation
Eclipsys has become known as The Outcomes Company for the measurable and sustainable value in improved care quality, safety, satisfaction and cost-efficiency our clients achieve using our solutions. Eclipsys delivers workflow and knowledge support to smooth "handoffs" between physicians, nurses, managers and other members of the healthcare team. They help bring them the pertinent evidence-based content and patient-specific information they need -- anytime, anywhere, on virtually any computer device -- to make the best possible decisions for each patient.
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