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OFC - COPT builts new $119M data center shells JV with Blackstone Real Estate
Corporate Office Properties Trust
Corporate Office Properties Trust (OFC) forms a new joint venture with funds affiliated with Blackstone Real Estate (BXMT). The JV acquired a 90% interest in two single-tenant, data center shell properties totaling 432,000 square feet and valued at $119M. COPT received approximately $107M of equity proceeds it will deploy into its 1.7M square foot pipeline of active development projects that, as of May 31, 2021, were 87% pre-leased.BXMT +0.80% after hours