COPT Defense Properties
Real estate investment trust
From Wikipedia, the free encyclopedia
COPT Defense Properties is a real estate investment trust that invests in office buildings, mostly in the suburbs of the Washington, D.C. metropolitan area. It primarily leases to the U.S. government or companies in the arms industry. As of December 31, 2024, the company owned 164 office buildings comprising 16.5 million square feet and 31 single-tenant data centers comprising 5.9 million square feet.[1]
 | |
| Formerly | Corporate Office Properties Trust |
|---|---|
| Company type | Public company |
| Industry | Real estate investment trust |
| Founded | 1988 |
| Founder | Clay W. Hamlin III |
| Headquarters | Columbia, Maryland, U.S. |
Key people | Stephen E. Budorick (CEO & President) Thomas F. Brady (Chairman) Anthony Mifsud (CFO) |
| Products | Office buildings |
| Revenue |  US$753 million (2024) |
| US$138 million (2024) | |
| Total assets | US$4.254 billion (2024) |
| Total equity |  US$1.493 billion (2023) |
Number of employees | 427 (2024) |
| Website | www |
| Footnotes / references [1] | |
History
The company was founded in 1988 by Clay W. Hamlin III as Royale Investments, Inc.[2] In 1991, the company became a public company via an initial public offering.[3] In 1997, the company merged with Shidler Group, founded by Jay H. Shidler, and changed its name to Corporate Office Properties Trust.[4] In 1998, the company acquired 16 buildings from Constellation Energy in exchange for a 41.5% stake in the company. Constellation sold its stake in the company in 2002.[5][6] In 2005, Randall M. Griffin became chief executive officer of the company.[7] In September 2023, the Company changed its name from Corporate Office Properties Trust to COPT Defense Properties.[8]
Tenants
The company's largest tenants are as follows:[1]
| Rank | Tenant | % of total 2024 revenue |
|---|---|---|
| 1 | General Services Administration | 35.9% |
| 2 | Amazon.com | 9.8% |
| 3 | General Dynamics | 4.8% |
| 4 | Northrop Grumman | 2.2% |
| 5 | Boeing | 2.1% |
| 6 | CACI | 2.1% |
| 7 | Peraton | 2.0% |
| 8 | Booz Allen Hamilton | 1.8% |
| 9 | Undisclosed | 1.7% |
| 10 | Morrison & Foerster | 1.4% |