COPT Forms New $119 Million Data Center Shells Joint Venture with Blackstone Real Estate
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (COPT or the Company) (NYSE: OFC) announces the formation of a new joint venture with funds affiliated with Blackstone Real Estate (the Joint Venture). The Joint Venture acquired a 90% interest in two single-tenant, data center shell properties totaling 432,000 square feet and valued at $119 million. COPT received approximately $107 million of equity proceeds it will deploy into its 1.7 million square foot pipeline of activ
COPT Forms New $119 Million Data Center Shells Joint Venture with Blackstone Real Estate
COLUMBIA, Md.--(BUSINESS WIRE)--Corporate Office Properties Trust (COPT or the Company) (NYSE: OFC) announces the formation of a new joint venture with funds affiliated with Blackstone Real Estate (the Joint Venture). The Joint Venture acquired a 90% interest in two single-tenant, data center shell properties totaling 432,000 square feet and valued at $119 million. COPT received approximately $107 million of equity proceeds it will deploy into its 1.7 million square foot pipeline of activ