OFC - Corporate Office Properties Trust

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Corporate Office Properties Trust (COPT), a real estate investment trust (REIT), specializes in owning, managing, leasing, developing, and selectively acquiring office and data center properties. The company strategically focuses on locations that support the United States Government and its contractors, particularly those engaged in national security, defense, and information technology (IT) activities. This niche, known as Defense/IT Locations, is characterized by what COPT identifies as growing and durable priority missions. In addition to its government-centric portfolio, COPT also owns a collection of office properties situated in prime urban and urban-like submarkets within the Greater Washington, DC/Baltimore region. These properties feature durable Class-A office fundamentals and contribute to COPT's Regional Office Properties segment.

As of December 31, 2020, COPT derived 87% of its core portfolio's annualized rental revenue from its Defense/IT Locations and the remaining 13% from its Regional Office Properties. The core portfolio included 179 office and data center shell properties totaling 20.8 million square feet, achieving an impressive 95.0% occupancy rate. Additionally, COPT held ownership in one wholesale data center with a critical load of 19.25 megawatts, which was leased at 86.7% occupancy. The company also manages 17 properties through unconsolidated joint ventures, enhancing its overall portfolio diversification and operational resilience.

Looking ahead, COPT remains committed to leveraging its specialized expertise and strategic positioning to capitalize on opportunities within the defense, national security, and IT sectors. By maintaining high-quality properties and fostering strong tenant relationships, COPT aims to sustain its leadership in supporting critical government missions while driving value for its shareholders and stakeholders alike.

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