Washington DC + DC + Office | June 4, 2021

COPT Forms $119 Million Data Center Shells JV

Corporate Office Properties Trust (COPT) has announced the formation of a new joint venture with funds affiliated with Blackstone Real Estate. The JV has 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 active development projects that, as of May 31, 2021, were 87% pre-leased.

The Washington D.C.-based COPT is focused on owning properties and developable land near key defense installations and other ‘knowledge-based’ government sites to supply the Government and its contractors. COPT’s core portfolio now includes 180 office and data center shell properties encompassing 20.8 million square feet.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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