COPT offering 7.5 million new stock shares

Columbia real estate investment firm expects at least $178.2 million from sale

October 11, 2012|By Steve Kilar, The Baltimore Sun

Corporate Office Properties Trust, a real estate investment and development firm based in Columbia, is offering 7.5 million new common stock shares for $24.75 apiece, the company announced Thursday.

An additional 1.1 million shares have been offered to the underwriters, who must exercise their purchase option within 30 days, COPT said in a statement.

The firm expects to raise at least $178.2 million on the stock sale, the statement said. If the underwriters purchase all of the shares available to them, the earnings could go as high as $204.9 million, COPT said.

The stock offering is expected to close on Oct. 16.

At the end of June, COPT owned 228 office buildings, with a total of 19.8 million square feet of space available for rent, according to the statement.

steve.kilar@baltsun.com

twitter.com/stevekilar

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