|UNITED STATES SECURITIES AND EXCHANGE
COMMISSION Washington, DC 20549


FORM 11-K


|X|     
ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF           1934 [NO FEE REQUIRED]


For
the fiscal year ended December 31, 2004


OR


|_|     TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE          ACT OF 1934


For the transition period from __________________ to _______________


Commission File Number
1-12358


COLONIAL PROPERTIES
TRUST 401(k) PROFIT SHARING PLAN(Full title of the plan)




COLONIAL PROPERTIES TRUST 2101 Sixth Avenue North
Suite 750Birmingham, AL 35203










Colonial Properties Trust401(k)
Profit Sharing PlanContentsYear Ended
December 31, 2004
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                                               | Pages
|-------------------------------------------------------------- | -----
|Report of Independent Registered Public Accounting Firm        |      
|Financial Statements                                           |      
|Statements of Net Assets Available for Plan Benefits           |      
|Statement of Changes in Net Assets Available for Plan Benefits |      
|Notes to Financial Statements                                  |      
|Supplemental Schedules                                         |      
|Schedule of Assets (Held at End of Year)                       |      
|Schedule of Nonexempt Transactions                             |      

| | Note: | Other schedules required by 29 CFR 2520.103-10 of the Department of Labors Rules and
  Regulations for Disclosure under the Employee Retirement Income Security Act of 1974 have
been   omitted because they are not applicable.
| | ----- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|Report of Independent
Registered Public Accounting Firm


To the Participants and
Administrator of Colonial Properties Trust 401(k) Profit Sharing Plan


In our opinion, the accompanying
statements of net assets available for benefits and the related statement of changes in
net assets available for benefits present fairly, in all material respects, the net assets
available for benefits of the Colonial Properties Trust 401(k) Profit Sharing Plan (the
Plan) at December 31, 2004 and 2003, and the changes in net assets available
for benefits for the year ended December 31, 2004 in conformity with accounting principles
generally accepted in the United States of America. These financial statements are the
responsibility of the Plans management. Our responsibility is to express an opinion
on these financial statements based on our audits. We conducted our audits of these
statements in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements, assessing the accounting principles
used and significant estimates made by management, and evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis for our
opinion.


Our audits were conducted for the
purpose of forming an opinion on the basic financial statements taken as a whole. The
supplemental Schedule of Assets and Schedule of Nonexempt Transactions are presented for
the purpose of additional analysis and are not a required part of the basic financial
statements but are supplementary information required by the Department of Labor's Rules
and Regulations for Reporting and Disclosure under the Employee Retirement Income Security
Act of 1974. These supplemental schedules are the responsibility of the Plan's management.
The supplemental schedules have been subjected to the auditing procedures applied in the
audits of the basic financial statements and, in our opinion, are fairly stated in all
material respects in relation to the basic financial statements taken as a whole.


/s/ Pricewaterhouse
Coopers LLP Birmingham, Alabama July 13, 2005


-1-
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# Colonial Properties Trust401(k)
Profit Sharing PlanStatements of Net Assets Available for Plan BenefitsDecember 31, 2004 and 2003

|                                                             |  |              
|------------------------------------------------------------ |  | -------------
|
|Assets                                                       |  |              
|Investments:                                                 | 
|Mutual Funds                                                 |  | $  9,947,828 
|Common Collective Trust Funds                                |  | 843,955      
|Colonial Properties Trust Stock                              |  | 2,936,606    
|Colonial BancGroup, Inc. Stock                               |  | 1,507,461    
|                                                             |  |              
|                                                             |  |              
|Total Investments                                            |  | 15,235,850   
|                                                             |  |              
|Employee contribution receivable                             |  | 53,491       
|Employer contribution receivable                             |  | 465,787      
|                                                             |  |              
|Total Assets                                                 |  | $15,755,128  
|                                                             |  |              
|Liabilities and Net Assets Available for Plan Benefits       | 
|Return of excess contributions                               |  | $     112,426
|                                                             |  |              
|Total Liabilities                                            |  | 112,426      
|                                                             |  |              
|Net assets available for plan benefits                       |  | 15,642,702   
|                                                             |  |              
|Total liabilities and net assets available for plan benefits |  | $15,755,128  
|                                                             |  |              

|The accompanying notes are an integral part of these financial statements.


-2-







Colonial Properties Trust401(k)
Profit Sharing PlanStatement of Changes in Net Assets Available for Plan BenefitsYear Ended December 31, 2004
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                                        | 
|------------------------------------------------------- | 
|
|Additions to net assets available for plan benefits:    | 
|Investment income                                       | 
|Interest and dividends                                  | 
|Net appreciation in the market value of investments     | 
|                                                        | 
|Total investment income                                 | 
|                                                        | 
|Contributions                                           | 
|Employee contributions                                  | 
|Employer contributions                                  | 
|Rollover contributions                                  | 
|                                                        | 
|Total contributions                                     | 
|                                                        | 
|Total additions                                         | 
|Deductions from net assets available for plan benefits: | 
|Benefit payments                                        | 
|                                                        | 
|Net increase                                            | 
|Net assets available for plan benefits                  | 
|Beginning of year                                       | 
|                                                        | 
|End of year                                             | 
|                                                        | 

|The accompanying notes are an integral part of these financial statements.


-3-





Colonial Properties Trust401(k)
Profit Sharing PlanNotes to Financial StatementsDecember 31, 2004 and 2003


1.         Description of the Plan
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The following description of Colonial Properties Trust 401(k) Profit Sharing Plan (the "Plan") provides
         only general information. Participants should refer to the Plan agreement for a more complete
         description of the Plan's provisions.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

General

| | The Plan was established on January 1, 1995, by Colonial Properties Trust (the "Company" or "Employer")
         as a defined contribution plan for the benefit of all eligible employees of the Company. The Plan is
         subject to the provisions set forth in the Employee Retirement Income Security Act of 1974 (ERISA) and
         is funded by discretionary employee and employer contributions.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Eligibility

| | Employees are eligible to join the elective deferral portion of the Plan as of the first day of any
         month after completing three months of service.  Employees are eligible to participate in the Company
         matching and profit sharing portions of the Plan after completion of one year of service.  A year of
         service is defined as a period of twelve consecutive months during which an employee works at least
         1,000 hours.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Employee Contributions

| | The amount of salary reduction for any plan year shall be no less than 2% of the participant's
         compensation for such plan year, subject to the maximum allowed by the Internal Revenue Code ($13,000
         per participant in 2004).  The amount of the salary reduction is remitted by the Employer to the Plan's
         trustees at the end of each pay period.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Effective for the plan year beginning January 1, 2002, the Plan elected to implement the "catch-up"
         provision provided for in Section 414(v) of the Internal Revenue Code.  This provision enables
         applicable employer plans to allow eligible participants who are age 50 or over to make additional
         deferrals, beginning in 2002.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Employer's Contributions

| | The Employer shall make a matching contribution in an amount equal to 50% of the first 6% of
         compensation a participant elects to defer. The employer matching contribution shall be provided to each
         participant who made a contribution during the Plan year and was employed by the Company on the last day
         of the Plan year.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The Employer may also contribute a discretionary profit sharing contribution to the Plan for each plan
         year, which shall be in addition to the employer matching contribution. The amount of such discretionary
         contribution, if any, for any plan year shall be determined by the Board of Trustees of the Company. No
         discretionary contributions were made in 2004.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|-4-





 
Colonial Properties Trust401(k)
Profit Sharing PlanNotes to Financial StatementsDecember 31, 2004 and 2003


Investment Options
|------------------------------------------------------------------------------------------------------------------------------------------

| | The Plan provides participants with various investment options, including twelve mutual funds, four
         common/collective trust funds and two common stock funds.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------

Forfeitures

| | The nonvested portion of a terminated employee's account balance shall be forfeited and used to reduce
         employer contributions otherwise payable for the plan year in which such forfeitures arise or for any
         succeeding plan year, unless the employee resumes employment before he or she incurs a five-year break.
         During 2004, forfeitures in the amount of $28,414 were used to offset employer contributions.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Distribution of Benefits

| | Participants' vested account balances represent the benefits available to the participants upon retirement, disability, death or termination of employment. In addition, distributions
         to participants on account of financial hardship may be made in certain circumstances limited under the
         terms of the Plan. Benefit payments are made in the form of lump sum distributions, direct rollovers or
         annuities.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Vesting

| | A participant's interest in his or her salary reduction account shall at all times be fully vested and
         nonforfeitable. A participant's interest in his or her employer contributions shall be fully vested and
         nonforfeitable upon the occurrence of any of the following events: death or attainment of normal
         retirement date while in the service of the employer, termination of the Plan, or complete
         discontinuance of all employer contributions. Prior to the occurrence of any of the preceding events, a
         vested interest in employer contributions shall be determined in accordance with the following vesting
         schedule:
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                 | 
|---------------- | 
|
|Less than 1 year | 
|1 year           | 
|2 years          | 
|3 years          | 
|4 years          | 
|5 years or more  | 

Amendment
and Termination

| | It
is the intention of the Company to continue the Plan indefinitely. The Company reserves
the right to modify, amend or terminate the Plan in whole or in part at any time in
writing provided that any such modification, amendment or termination does not make it
possible for any portion of the fund to be used for or diverted for purposes other than
the exclusive benefit of the participants or their beneficiaries, after the payment of
administrative expenses or taxes. Upon termination of the Plan, plan assets will be
distributed to participants and their beneficiaries in accordance with the Plan and
subject to ERISA guidelines.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|-5-









Colonial Properties Trust401(k)
Profit Sharing PlanNotes to Financial StatementsDecember 31, 2004 and 2003




2.      Summary of
Significant Accounting Policies


Basis
of Accounting
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The
accompanying financial statements of the Plan have been prepared on the accrual basis of
accounting in accordance with accounting principles generally accepted in the United
States of America.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Risks
and Uncertainties

| | The
Plan provides for various investment options. Investment securities are exposed to various
risks, such as interest rate, market and credit risks. Due to the level of risk associated
with certain investment securities and the level of uncertainty related to changes in the
value of investment securities, it is at least reasonably possible that changes in risks
in the near term could materially affect participants account balances and the
amounts reported in the statement of net assets available for plan benefits and the
statement of changes in net assets available for plan benefits.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Investments

| | Shares
of mutual funds are quoted at market values, which represent the net asset values of
shares held by the Plan at yearend. The investments in common collective trust funds are
valued at the unit value as reported by the Trustee of the funds at each valuation date.
Investments in common stock are stated at fair value. Fair values were determined by
the recordkeeper, AMVESCAP Retirement (AMVESCAP), based on quoted market prices at December 31, 2004 and
2003, as of the last trade date of the year. The Plan presents in the statement of changes
in net assets available for plan benefits the net appreciation (depreciation) in the
market value of its investments which consists of the realized gains and losses and the
unrealized appreciation (depreciation) on those investments.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | Purchases
and sales of securities are reflected as of the trade date. Dividend income is recorded on
the ex-dividend date. Investment income is recorded on the accrual basis.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Contributions

| | Contributions
receivable from elective deferrals of salary are accrued based on unremitted deductions
from participant employees' payroll compensation. Contributions receivable from the
Employer are accrued based upon a matching contribution calculated on the last day of the
year (see Note 1).
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Benefit Payments

| | Benefit payments consist of payments to participants (or, if applicable, the beneficiary)
at retirement, disability, death or termination of employment.  Benefit payments are made in the form
of lump sum distributions, direct rollovers or annuities.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Use
of Estimates

| | The
preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the dates of the financial statements and the
reported amounts of additions and deductions during the reporting periods. Actual results
could differ from those estimates.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|-6-







 
Colonial Properties Trust401(k)
Profit Sharing PlanNotes to Financial StatementsDecember 31, 2004 and 2003


3.      Investments
|---------------------------------------------------------------------------------------------------------------------------------------------

| | Investments
of the Plan are held by AmSouth Bank NA (Trustee) under a trust agreement dated July 5,
1995. Investment information at December 31, 2004 and 2003 is as follows:
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                |  |             
|------------------------------- |  | ------------
|
|Colonial Properties Trust Stock |  | $  2,936,606
|Colonial BancGroup, Inc. Stock  |  | 1,507,461   
|Mutual funds                    |  | 6,593,945   
|Common/collective trust funds   |  | 4,197,838   
|                                |  |             
|                                |  | $15,235,850 
|                                |  |             
|                                |  |             

| | During
the year ended December 31, 2004, net appreciation (depreciation) (including gains and
losses on investments bought and sold, as well as held during the year) in investments was
$888,076 as follows:
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                                                    | 
|--------------------------------------------------- | 
|
|Colonial Properties Trust Stock                     | 
|Colonial BancGroup, Inc. Stock                      | 
|Mutual funds                                        | 
|Common/collective trust funds                       | 
|                                                    | 
|Net appreciation in the market value of investments | 
|                                                    | 

| | The
following is a summary of assets held in excess of five percent of the Plan's net assets
at December 31:
| | ------------------------------------------------------------------------------------------------------------

|                                |  |            
|------------------------------- |  | -----------
|
|Colonial Properties Trust Stock |  | $2,936,606 
|Colonial BancGroup, Inc. Stock  |  | $1,507,461 
|AmSouth Stable Principal Fund   |  | $3,353,883 
|AmSouth Value Fund              |  | $1,285,682 
|AmSouth Balanced Fund           |  | $1,345,924 
|Fidelity Advisor Mid Cap Fund   |  | $   969,145
|Janus Mid Cap Value Fund        |  | $   883,724

|-7-







 
Colonial Properties Trust401(k)
Profit Sharing PlanNotes to Financial StatementsDecember 31, 2004 and 2003


4.        Tax Status
|----------------------------------------------------------------------------------------------------------------------------------------------

| | The Internal Revenue Service has determined and informed the Company, by a letter dated August
21, 2002, that the Plan is designed in accordance with applicable sections of the Internal
Revenue Code (IRC). Although the Plan has been amended since receiving the determination
letter, the Plan administrator and the Plans tax counsel believe that the Plan is
designed and is currently being operated in compliance with the applicable requirements of
the IRC.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | The
Plan is a salary reduction profit sharing plan, whereby employee contributions to the Plan
within specified limits are not included in the gross income of the participant.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# 5.        Related Party
Transactions

| | The
Employer pays administrative expenses on behalf of the Plan, including legal, trust,
administrative and accounting fees.
| | ----------------------------------------------------------------------------------------------------------------------------

| | Plan
investments include investment funds managed by the Trustee, as defined by the Plan, and
the Plans recordkeeper, AMVESCAP, and therefore investment purchases and sales of
these investment funds and the related interest income qualify as party-in-interest
transactions. Plan investments also include shares of the Company's common stock and the investment election
of the common stock is voluntary by participants.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

# 6.        Nonexempt Transactions

| | During
the year ended December 31, 2004, there was one instance of untimely remittance of
employee contributions of $30,240 to the Trustee. The Company subsequently corrected this
nonexempt transaction with a remittance of $902 of lost earnings to the Plan.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|-8-








Colonial Properties Trust401(k)
Profit Sharing PlanSchedule of Assets (Held at End of Year)Year Ended December 31, 2004
|-----------------------------------------------------------------------------------------------------------------------------------

|                                                             |  |                                             | 
|------------------------------------------------------------ |  | ------------------------------------------- | 
|
|
|Common Stock:                                                | 
|Colonial Properties Trust *                                  |  | Common stock, 73,603 shares                 | 
|The Colonial BancGroup, Inc. *                               |  | Common stock, 71,979 shares                 | 
|                                                             |  |                                            
|Total Common Stock                                           |  |                                             | 
|                                                             |  |                                            
|Common Collective Trust Funds:                               | 
|AmSouth Stable Principal Fund *                              |  | Common collective trust fund, 335,388 units | 
|Invesco Structured Small Cap Value Equity       Trust Fund * |  | Common collective trust fund, 5,349 units   | 
|Dow Jones 60% Global Portfolio Index Fund                    |  | Common collective trust fund, 8,007 units   | 
|Dow Jones 100% Global Portfolio Index Fund                   |  | Common collective trust fund, 5,429 units   | 
|                                                             |  |                                            
|Total Common Collective Trust Funds                          |  |                                             | 
|                                                             |  |                                            
|Mutual Funds:                                                | 
|AmSouth Value Fund *                                         |  | Mutual fund, 76,347 units                   | 
|AmSouth Balanced Fund *                                      |  | Mutual fund, 104,986 units                  | 
|AmSouth Large Cap Fund *                                     |  | Mutual fund, 20,908 units                   | 
|Putnam Vista Fund *                                          |  | Mutual fund, 32,511 units                   | 
|Invesco Dynamics Fund *                                      |  | Mutual fund, 2,980 units                    | 
|Janus Mid Cap Value Fund                                     |  | Mutual fund, 40,005 units                   | 
|Federated Max Cap Fund                                       |  | Mutual fund, 3,298 units                    | 
|Dreyfus Emerging Leaders Fund                                |  | Mutual fund, 8,884 units                    | 
|AmSouth Bond - Class A *                                     |  | Mutual fund, 17,291 units                   | 
|Fidelity Advisor Equity Growth Fund                          |  | Mutual fund, 8,571 units                    | 
|Templeton Foreign Fund                                       |  | Mutual fund, 25,072 units                   | 
|Fidelity Advisor Mid Cap Fund                                |  | Mutual fund, 38,428 units                   | 
|                                                             |  |                                            
|Total Mutual Funds                                           |  |                                             | 
|                                                             |  |                                            
|Total Investments                                            |  |                                             | 
|                                                             |  |                                            

|* Denotes
a party-in-interest to the Plan.         **
Cost information is not required for participant directed accounts.



-9-








Colonial Properties Trust401(k)
Profit Sharing PlanSchedule H, Line 4a - Schedule of Delinquent Participant ContributionsYear Ended December 31, 2004
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Total that Constitute Nonexempt Prohibited Transactions

|ParticipantContributions Transferred Late to Plan | Contributions  Not Corrected | Contributions CorrectedOutside VFCP | Contributions Pending Correction in VFCP | Total FullyCorrected Under VFCPand PTE 2002-51
|------------------------------------------------- | ---------------------------- | ----------------------------------- | ---------------------------------------- | ----------------------------------------------
|$    30,240                                       | $       -                    | $            30,240                 | $             -                          | $              -                              

|-10-









Consent of Independent
Registered Public Accounting Firm


We hereby consent to the
incorporation by reference in the Registration Statement on Form S-8 (No. 333-14155) of
Colonial Properties Trust of our report dated July 13, 2005 relating to the financial
statements and supplemental schedules of Colonial Properties Trust 401(k) Profit Sharing
Plan, which appears in this Form 11-K.


/s/ Pricewaterhouse
Coopers LLPBirmingham, Alabama July 13, 2005



-11-











SIGNATURE


Pursuant
to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons
who administer the Plan) have duly caused this annual report to be signed on its behalf by
the undersigned hereunto duly authorized.
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|                     |  | COLONIAL PROPERTIES TRUST401(k) PROFIT SHARING PLAN                                                 
|-------------------- |  | ----------------------------------------------------------------------------------------------------
|                     |  |                                                                                                     
|Date:  July 14, 2005 |  | /s/ John E. Tomlinson            
Executive Vice President and              Chief Accounting Officer

|-12-
|----