By Michele Lerner

Colonial History

Colonial Properties Trust has been a family-run business since the 1950s when it started building homes in Montgomery, Ala. The company was diversified and involved in both residential and commercial building projects almost from the start, expanding into every facet of real estate in small communities in the Southeast. In 1970, the company was incorporated and expanded into Birmingham, Ala. and Orlando, Fla. Lowder became president of Colonial Properties, Inc., the company's predecessor, in 1976. Colonial Properties went public as a REIT in 1993.

"We had heard that the market might not accept our company's offering because of our diversity in so many different sectors," Lowder says. "But it's a strategy we've continued to employ with success."

Understanding its markets and shifting the mix of assets within the various sectors of the company has allowed Colonial Properties to grow from $425 million total market capitalization at its IPO in 1993 to over $2.7 billion in 2003.

The company's success has been recognized recently by The National Association of Industrial and Office Properties (NAIOP), which named Colonial Properties Trust "2003 Developer of the Year" for its innovative approach to development, its contributions to the industry and its positive impact on the communities it serves.

Community involvement has also been part of the company's philosophy from the beginning, and now a Community Affairs Committee supports charitable efforts and economic development in each area in which the company operates.

"It's part of our corporate culture here to recognize that if we're successful in a community we need to be good citizens, too," Lowder says. "This means supporting the charities where we build and encouraging our employees to do the same. Whether it's joining Big Brothers or Big Sisters, or participating in the cancer walk or United Way, we encourage everyone to get involved."

In 2001, Lowder served as chair of the Central Alabama United Way fundraising campaign, raising over $30 million for that organization. Since 2002, the company has made charitable contributions of time and money to over 100 community organizations.

Among the company's many local community service projects, Colonial Properties provides an apartment in each location where there is a business school near one of its multifamily developments that the college can provide as a housing scholarship to a business major.