Corporate Office Properties Enters $119M Data Center Joint Venture with Blackstone

June 3, 2021 | S&P Global Market Intelligence

Corporate Office Properties Trust formed a new joint venture with funds affiliated with Blackstone REIT, a unit of private equity giant The Blackstone Group Inc.

The joint venture purchased a 90% stake in two single-tenant, data center shell properties covering 432,000 square feet and valued at $119 million.

The office and data center real estate investment trust received about $107 million of equity proceeds.

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