Columbia Equity Trust, Inc. Announces the Pricing of Initial Public Offering.WASHINGTON -- Columbia Equity Trust, Inc. (NYSE NYSE See: New York Stock Exchange :COE See common operating environment. ) announced today the pricing of the initial public offering of 12,000,000 shares of its common stock at a price to the public of $15.00 per share. The shares will be listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "COE." The offering is expected to close on July 5, 2005. Wachovia Securities Wachovia Securities, located in Richmond, Virginia (soon to be moved to St. Louis), is the third largest brokerage firm in the United States as of 2006 with $689 billion retail client assets under management. It is a subsidiary of Wachovia Corporation. served as the sole bookrunning manager and Robert W. Baird Robert Wilson Baird (born April 1, 1883) helped found the financial services firm that bears his name and led it for more than 40 years. Baird’s father was a professor of Greek literature at Northwestern University in Evanston, Illinois, where Baird grew up. & Co. served as co-lead manager for the offering. A.G. Edwards, Ferris, Baker Watts, Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason Wood Walker, Inc., Raymond James and Wells Fargo Securities are co-managers for the offering. Columbia has granted to the underwriters an option to purchase up to an additional 1,800,000 shares of common stock to cover over-allotments. A registration statement relating to the initial public offering of common stock was declared effective by the U.S. Securities and Exchange Commission on June 28, 2005. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of such common stock in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of these securities will be made only by means of a prospectus, a copy of which may be obtained by contacting Wachovia Securities, Attn: Prospectus Department, 8739 Research Drive, Charlotte, NC 28262, or 704-593-7559. About Columbia Equity Trust, Inc. Columbia is a recently formed, self-advised, self-managed Maryland corporation formed to succeed to the commercial office property business of Carr Capital Corporation. The Company focuses on the acquisition, development, renovation, repositioning, ownership, management and operation of commercial office properties located predominantly in the Greater Washington, D.C. area. Columbia intends to be taxed as a real estate investment trust for federal income tax purposes. Forward Looking Statements Certain statements in this release that are not historical fact may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company to differ materially from historical results or from any results expressed or implied by such forward-looking statements, including without limitation: national and local economic, business, real estate and other market conditions; the competitive environment in which the Company operates; the execution of its business plan; financing risks; the Company's ability to maintain its status as a REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). for federal income tax purposes; acquisition and development risks; potential environmental and other liabilities other liabilities Small and relatively insignificant liabilities. For financial reporting purposes, firms often combine small liabilities into this single category rather than listing each liability separately. ; and other factors affecting the real estate industry generally or the office industry in particular. For further discussion of the factors that could affect outcomes, please refer to the "Risk Factors" section of the prospectus. |
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