Try digitalPLUS for 10 days for only $0.99

The Real Estate Wonk

Business Real Estate The Real Estate Wonk

COPT completes sale of 8.6 million shares

Corporate Office Properties Trust, a real estate investment and development firm based in Columbia, sold more than 8.6 million new common stock shares during a public offering over the past week, the company announced Tuesday.

The company’s net proceeds from the sale, before deducting the offering’s expenses, was about $204.9 million, according to a statement from the firm.

The offering’s underwriters purchased all 1.1 million shares available to them, said COPT, which owns about 230 office buildings, totaling 19.8 million square feet of leasable space.

In an SEC filing, the company said it intends to use the proceeds to repay what it owes on an unsecured credit facility and for general corporate purposes.

Have a real estate news tip or experience to share? Email me at steve.kilar@baltsun.com.

Copyright © 2015, The Baltimore Sun
Comments
Loading

84°