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COPT Announces Changes to Board of Trustees

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By Business Wirevia The Motley Fool

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COPT Announces Changes to Board of Trustees

COLUMBIA, Md.–(BUSINESS WIRE)– Corporate Office Properties Trust (COPT or the Company) (NYS: OFC) announced that Jay H. Shidler and Clay W. Hamlin, III will step down from their respective positions as Chairman and Vice Chairman of the Company’s Board of Trustees, effective at the Company’s upcoming annual meeting of shareholders on May 9,2013. Both are nominated for re-election at the meeting and if elected will remain on the Board as trustees. Thomas F. Brady, who has served on the Company’s Board since January 2002 and is also nominated for re-election, has been appointed Chairman of the Board, also effective May 9, 2013.

“It has been an honor to serve as Chairman of Corporate Office Properties Trust since 1997,” stated Jay H. Shidler, Chairman of the Board of Trustees for Corporate Office Properties Trust. “Tom’s extensive career in key financial and strategic executive positions at a substantial public company qualifies him to lead our Board and assess our strategic initiatives,” he stated.

Mr. Brady was Chairman of the Board of Directors of Baltimore Gas & Electric Company (”BGE”) and Executive Vice President – Corporate Strategy at Constellation Energy Group (”CEG”) (formerly NYSE: CEG, now a subsidiary of Exelon Corporation, NYSE: EXC). During his career at CEG/BGE, Mr. Brady held a series of senior executive positions providing experience in strategy, mergers and acquisitions, entrepreneurial start-up businesses, managing local utility operations and chief accounting officer responsibilities. Prior to its acquisition by Exelon, CEG was a Fortune 200 company owning energy related businesses, including BGE. BGE is the largest electric and gas utility in Maryland. He continued to serve on the Board of Directors of BGE through 2012. Mr. Brady is Chairman of the Opower Advisory Board, a global leader in providing energy information software to the utility industry. Mr. Brady is also on the Board of Directors of ENBALA Power Networks Ltd., a smart grid technology company providing innovative grid balancing services to utilities and electric system operators. Both Opower and ENBALA are privately-owned clean technology companies. Mr. Brady is also a Trustee and Treasurer of the Board of Stevenson University.


Company Information

COPT is an office REIT that focuses primarily on serving …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

COPT Completes Offering of 4,485,000 Common Shares

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By Business Wirevia The Motley Fool

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COPT Completes Offering of 4,485,000 Common Shares

COLUMBIA, Md.–(BUSINESS WIRE)– Corporate Office Properties Trust (COPT or the Company) (NYS: OFC) completed its public offering of 4,485,000 newly issued common shares, which reflects the full exercise by the underwriter of its option to purchase 585,000 shares. The offering generated net proceeds of approximately $117.9 million.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.


Company Information

COPT is an office REIT that focuses primarily on serving the specialized requirements of U.S. Government agencies and defense contractors, most of whom are engaged in defense information technology and national security-related activities. The Company generally acquires, develops, manages and leases office and data center properties concentrated in large office parks primarily located near knowledge-based government demand drivers and/or in targeted markets or submarkets in the Greater Washington, DC/Baltimore region. As of December 31, 2012, the Company’s consolidated portfolio consisted of 208 office properties totaling 18.8 million rentable square feet. COPT is an S&P MidCap 400 company.


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. Accordingly, the Company can give no assurance that …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

COPT Prices Offering of 3,900,000 Common Shares

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By Business Wirevia The Motley Fool

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COPT Prices Offering of 3,900,000 Common Shares

COLUMBIA, Md.–(BUSINESS WIRE)– Corporate Office Properties Trust (COPT or the Company) (NYS: OFC) has priced its previously announced public offering of 3,900,000 newly issued common shares of beneficial interest for estimated gross proceeds, before deducting underwriting discounts and commissions and estimated offering expenses, of approximately $106.3 million. The Company has granted the underwriter an option to purchase up to an additional 585,000 shares during the next 30 days.

The offering is expected to close on or about March 19, 2013. The Company intends to use the proceeds to redeem its outstanding 7.625% Series J Cumulative Redeemable Preferred Shares (NYS: OFCPRJ) and for general corporate purposes.

BofA Merrill Lynch is acting as the book-running manager for the common share offering and may offer the common shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

Copies of the prospectus supplement, when available, and the accompanying prospectus relating to these securities may be obtained without charge from BofA Merrill Lynch, 222 Broadway, New York, NY 10038 Attn: Prospectus Department, or by email at dg.prospectus_requests@baml.com. A copy of the prospectus supplement and accompanying base prospectus may also be obtained without charge by visiting the SEC website at www.sec.gov.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.


Company Information

COPT is an office REIT that focuses primarily on serving the specialized requirements of U.S. Government agencies and defense contractors, most of whom are engaged in defense information technology and national security-related activities. The Company generally acquires, develops, manages and leases office and data center properties concentrated in large office …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

COPT Announces Offering of 3,900,000 Common Shares

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By Business Wirevia The Motley Fool

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COPT Announces Offering of 3,900,000 Common Shares

COLUMBIA, Md.–(BUSINESS WIRE)– Corporate Office Properties Trust (COPT or the Company) (NYS: OFC) has commenced a public offering of 3,900,000 of its common shares of beneficial interest.

The Company intends to use the proceeds to redeem its outstanding 7.625% Series J Cumulative Redeemable Preferred Shares (NYS: OFCPRJ) , repay amounts outstanding under its unsecured revolving credit facility and for general corporate purposes. Completion of the offering is subject to customary closing conditions. BofA Merrill Lynch is acting as the book-running manager for the common share offering, and may offer the common shares from time to time for sale in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices.

Copies of the prospectus supplement, when available, and the accompanying prospectus relating to these securities may be obtained without charge from BofA Merrill Lynch, 222 Broadway, New York, NY 10038 Attn: Prospectus Department, or by email at dg.prospectus_requests@baml.com. A copy of the prospectus supplement and accompanying base prospectus may also be obtained without charge by visiting the SEC website at www.sec.gov.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.


Company Information

COPT is an office REIT that focuses primarily on serving the specialized requirements of U.S. Government agencies and defense contractors, most of whom are engaged in defense information technology and national security-related activities. The Company generally acquires, develops, manages and leases office and data center properties concentrated in large office parks primarily located near knowledge-based government demand drivers and/or in targeted markets or submarkets in the Greater Washington, DC/Baltimore region. As of December 31, 2012, the Company’s consolidated portfolio consisted of 208 office properties totaling 18.8million rentable square feet. …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

PS Business Parks, Inc. Announces Pricing of 5.70% Cumulative Preferred Stock, Series V

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By Business Wirevia The Motley Fool

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PS Business Parks, Inc. Announces Pricing of 5.70% Cumulative Preferred Stock, Series V

GLENDALE, Calif.–(BUSINESS WIRE)– PS Business Parks, Inc. (NYS: PSB) announced today that it has priced a public offering of 4.0 million depositary shares, each representing 1/1,000 of a share of the Company’s 5.70% Cumulative Preferred Stock, Series V at $25.00 per share. The Company also granted the underwriters an over-allotment option to purchase an additional 600,000 depositary shares. The offering is expected to result in $100.0 million of gross proceeds (assuming no exercise of the underwriters’ over-allotment option) and is expected to close on or about March 14, 2013.

The Company intends to apply to have the depositary shares listed on the New York Stock Exchange under the symbol “PSBPrV.” If this application is approved, trading of the depositary shares is expected to begin within 30 days following the initial delivery of the depositary shares.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC acted as joint book-running managers of the offering. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor shall there be any offer or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. The offering will be made only by means of a prospectus and prospectus supplement, copies of which may be obtained by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, 11th Fl., New York, NY 10038, Attention: Prospectus Department, telephone: 1-800-294-1322 or email: dg.prospectus_requests@baml.com; Morgan Stanley & Co. LLC, 180 Varick Street, New York, NY 10014, Attn: Prospectus Department, telephone: 1-866-718-1649 or email: prospectus@morganstanley.com; and Wells Fargo Securities, LLC, 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attn: Capital Markets Client Support, telephone: 1-800-326-5897 or email: cmclientsupport@wellsfargo.com.


Company Information

PS Business Parks, Inc., a member of the S&P SmallCap 600, is a self-advised and self-managed real estate investment trust (“REIT“) that acquires, develops, owns and operates commercial properties, primarily multi-tenant flex, office and industrial space. The Company defines “flex” space as buildings that are configured with a combination of office and warehouse space and can be designed to fit a number of uses (including office, assembly, showroom, laboratory, light manufacturing and warehouse …read more
Source: FULL ARTICLE at DailyFinance