Deal Details
Follow-On Offering
Summary
Baird served as a co-manager in this offering.
About
Corporate Office Properties Trust (NYSE: OFC) (“Corporate Office” or the “Company”) recently completed a follow-on offering of 7,475,000 shares of its common stock at $34.25 per share, generating gross proceeds of approximately $256.0 million. Corporate Office intends to use the net proceeds from the offering to repay amounts outstanding under its unsecured revolving credit facility and for general corporate purposes.Corporate Office Properties Trust is a specialty office real estate investment trust (REIT) that focuses on strategic customer relationships and specialized tenant requirements in the U.S. Government, Defense Information Technology and Data sectors. The Company acquires, develops, manages and leases office and data center properties which are typically concentrated in large office parks primarily located adjacent to government demand drivers and/or in growth corridors. As of September 30, 2010, the Company owned 269 office properties totaling 21.0 million rentable square feet, which includes 20 properties totaling 1.1 million square feet held through joint ventures. The Company’s portfolio primarily consists of technically sophisticated buildings in visually appealing settings that are environmentally sensitive, sustainable and meet unique customer requirements.
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- Date
- November 2010
- Company
- Corporate Office Properties Trust
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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