November 6, 2020
Company Office Characteristic Trust Fund (COPT) has actually introduced the development of a brand-new joint endeavors with funds connected with Blackstone Real Estate. The brand-new ventures are acquiring interests in eight single-tenant, information center covering residential properties completing 1.3 million square feet as well as are valued at $293 million.
In a lately shut transaction, Blackstone gotten a 90% rate of interest in two of COPT’s completely had information center shell homes valued at $90 million. Blackstone has actually likewise signed a contract to get a 90% passion in 6 other information facility shell properties partly had by COPT. That purchase is expected to shut before completion of the year.
“We are extremely pleased to increase our connection with Blackstone,” said Stephen Budorick, head of state and CEO at COPT. “These purchases additionally validate the worth of our portfolio of tactically located data facility shell residential properties and also the value our growth system includes for investors.”
For remarks, concerns or issues, please get in touch with David Cohen