COPT Elects Raymond L. Owens to Board of Trustees
March 08 2021 - 4:16PM
Business Wire
Corporate Office Properties Trust (“COPT” or the “Company”)
(NYSE: OFC) announced that its Board of Trustees elected Raymond L.
Owens to serve on the Company's Board, effective March 5, 2021.
“We are honored to welcome such a highly experienced,
well-regarded real estate professional to COPT’s Board of
Trustees,” stated Thomas F. Brady, Chairman of the Board. “In
addition to having served as an executive at another public office
REIT, Ray brings a wealth of capital markets and investment
experience to our Board. We are excited to work with him and look
forward to benefiting from the valuable perspectives he will
bring,” he stated.
Between 2007-2017, Mr. Owens served as the Executive Vice
President of Capital Markets and as Chief Investment Officer at
Piedmont Office Realty Trust (NYSE: PDM), an owner, manager,
developer, redeveloper, and operator of Class A office properties
located primarily in select sub-markets within seven major Eastern
U.S. office markets. From 2002-2007, he was a Managing Director and
Executive Vice President of Capital Markets at Wells Real Estate
Funds (“Wells”). Prior to his tenure at Wells, Mr. Owens was a
Senior Vice President at PM Realty Group, LP (1997-2002), and held
managerial and leadership positions at other, well respected real
estate organizations between 1982-2002. Mr. Owens received his
Bachelor of Arts degree in economics from the University of
Michigan in Ann Arbor, Michigan, in 1980, and his Master of
Business Administration in Marketing and Real Estate from the
Stephen M. Ross School of Business at the University of Michigan in
1982.
About COPT COPT is a REIT
that owns, manages, leases, develops and selectively acquires
office and data center properties. The majority of its portfolio is
in locations that support the United States Government and its
contractors, most of whom are engaged in national security, defense
and information technology (“IT”) related activities servicing what
it believes are growing, durable, priority missions (“Defense/IT
Locations”). The Company also owns a portfolio of office properties
located in select urban/urban-like submarkets in the Greater
Washington, DC/Baltimore region with durable Class-A office
fundamentals and characteristics (“Regional Office Properties”). As
of December 31, 2020, the Company derived 87% of its core portfolio
annualized rental revenue from Defense/IT Locations and 13% from
its Regional Office Properties. As of the same date and including
17 properties owned through unconsolidated joint ventures, COPT’s
core portfolio of 179 office and data center shell properties
encompassed 20.8 million square feet and was 95.0% leased; the
Company also owned one wholesale data center with a critical load
of 19.25 megawatts that was 86.7% leased.
Forward-Looking Information
This press release may contain “forward-looking” statements, as
defined in Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, that are based on the
Company’s current expectations, estimates and projections about
future events and financial trends affecting the Company.
Forward-looking statements can be identified by the use of words
such as “may,” “will,” “should,” “could,” “believe,” “anticipate,”
“expect,” “estimate,” “plan” or other comparable terminology.
Forward-looking statements are inherently subject to risks and
uncertainties, many of which the Company cannot predict with
accuracy and some of which the Company might not even anticipate.
Although the Company believes that the expectations, estimates and
projections reflected in such forward-looking statements are based
on reasonable assumptions at the time made, the Company can give no
assurance that these expectations, estimates and projections will
be achieved. Future events and actual results may differ materially
from those discussed in the forward-looking statements and the
Company undertakes no obligation to update or supplement any
forward-looking statements.
The areas of risk that may affect these expectations, estimates
and projections include, but are not limited to, those risks
described in Item 1A of the Company’s Annual Report on Form 10-K
for the year ended December 31, 2020.
Source: Corporate Office Properties Trust
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version on businesswire.com: https://www.businesswire.com/news/home/20210308005146/en/
IR Contacts: Stephanie Krewson-Kelly 443-285-5453
stephanie.kelly@copt.com
Michelle Layne 443-285-5452 michelle.layne@copt.com
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