Financing ActivityAs previously disclosed in March 2012, the company, through its operating partnership, Colonial Realty Limited Partnership (CRLP), the company entered into a new $500 million unsecured revolving credit facility with a syndicate of banks. The unsecured revolving credit facility has an initial four-year term maturing in March 2016, with a one-year extension option. The new credit facility replaces CRLP’s $675 million unsecured revolving credit facility that was scheduled to mature in June 2012. As of March 31, 2012, $210 million was outstanding under the new unsecured revolving credit facility.
|Plus: Real Estate Depreciation & Amortization||1.45||–||1.45|
|Less: Gain on Sale of Operating Properties||(0.10||)||–||(0.20||)|
|Total Diluted FFO per share||$||1.23||–||$||1.29|
- Multifamily same-property net operating income: growth of 6.00 to 8.00 percent.
- Revenue: Increase of 4.75 to 5.75 percent
- Expense: Increase of 2.50 to 3.50 percent
- Development spending of $125 million to $150 million.
- Acquisitions of $100 million to $150 million.
- Dispositions of $100 million to $150 million.
- Land and for-sale residential property dispositions of $5 million to $10 million.
- Corporate G&A expenses of $23 million to $24 million.