Corporate Office Properties Trust forms $265m JV with Blackstone

Corporate Office Properties Trust (COPT) has formed a joint venture with Blackstone Real Estate Income Trust for COPT’s existing, single-tenant, data center shell properties, which contain 1.2 million square feet of warehouse space, for a total value of approximately $265 million.

COPT received $238.5 million in proceeds from this transaction.

The joint venture will be owned 90 percent by BREIT and 10 percent by COPT.