Corporate Office Properties Trust (COPT) has completed a second transaction with Blackstone Real Estate Income Trust (BREIT).
COPT sold 90 percent of its interest in two single-tenant data center shell properties that contain 297,160 square feet of warehouse space to BREIT.
BREIT and COPT will hold the centers in a joint venture previously announced on June 20, 2019.
The aggregate property value implied from the transaction is approximately $80 million. COPT received $77 million in proceeds that it will deploy into its 2.6 million square foot pipeline of active development and redevelopment projects that, as of Oct. 9, 2019, were 82 percent pre-leased.
