The creation of Metropolitan has brought together an impressive development team. Colonial Properties Trust is a real estate investment trust (REIT) that creates value for its shareholders through a multifamily focused portfolio and the management and development of select commercial assets in the Sunbelt region of the United States. Headquartered in Birmingham, Alabama, Colonial Properties Trust is listed on the New York Stock Exchange under the symbol CLP and is included in the S&P SmallCap 600 Index.
Pappas Properties, based in Charlotte, N.C., is one of the Southeast’s premier developers of retail, office, mixed-used projects and master-planned communities, with a special focus on executing large and complex projects. Established in 1999 and led by a team of real estate development professionals averaging more than 20 years of experience, Pappas Properties has earned national acclaim for its use of innovative planning, exceptional design, and ample amenities to create extraordinary assets that enhance the broader community. In addition to real estate development, Pappas Properties also provides asset management and consulting services to institutional clients.