Colonial Realty LP, the operating partnership of Colonial Properties Trust, Birmingham, Ala., has priced a $275 million public offering of senior unsecured notes, according to Colonial Properties.The 10-year notes, which bear a coupon of 6.05%, were priced at 99.637 to yield 6.099%, Colonial Properties said. The offering was led by UBS Securities LLC, Bear Stearns & Co., and Merrill Lynch as joint book-running managers. Colonial Properties, a real estate investment trust that owns multifamily, office, and retail properties in the Sunbelt, can be found on the Web at http://www.colonialprop.com.

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