Corporate Office Properties Trust Appoints Douglas M. Firstenberg to Board of Trustees.COLUMBIA, Md. -- Corporate Office Properties Trust Corporate Office Properties Trust Inc. (COPT) (NYSE: OFC) is a publicly-traded real estate investment trust (REIT) corporation that specializes in office development, and describes itself as "a fully integrated, self-managed real estate investment trust that focuses on the (COPT) (NYSE NYSE See: New York Stock Exchange :OFC OFC Office OFC Officer OFC Of Course OFC Oxygen Free Copper OFC Oceania Football Confederation (soccer) OFC Optical Fiber Cable OFC Optical Fiber Communications OFC Optical Fiber Conference ) announced today that the Company appointed Douglas M. Firstenberg to serve on the Company's Board of Trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. . Mr. Firstenberg is a founding principal of Stonebridge Associates, Inc., a real estate development and advisory firm. Mr. Firstenberg has over 25 years of real estate investment and development experience. In his current role at Stonebridge, he focuses on strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. and development projects with a primary role in major transaction negotiation. His experience includes construction and land development in excess of four million square feet and more than $1.5 billion in value. Mr. Firstenberg is involved in all phases of real estate transactions, including acquisitions, dispositions, joint ventures, debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay , development and entitlement and lease negotiation. Mr. Firstenberg graduated from Duke University with a Bachelor of Arts degree. He is currently a member of the Board of Directors for the Montgomery College For the community college near Conroe, Texas, see . Montgomery College is the oldest and largest community college in Maryland, U.S. It is located in Montgomery County, MD and divided into three campuses, the largest of which is in Rockville; the other campuses are in Takoma Foundation, the Duke Club of Washington and the NoMA Business Improvement District. He has previously served on the Board of Visitors for Duke's Terry Sanford Institute of Public Policy The Terry Sanford Institute of Public Policy at Duke University is named after former Duke president and Governor of North Carolina Terry Sanford, who established the university's Institute for Policy Sciences and Public Affairs in 1971 as an interdisciplinary program geared toward , Duke's Executive Leadership Board of Washington, and the Board of Directors for the Washington Scholarship Fund and the Montgomery County Montgomery County may refer to:
"We are pleased to have attracted an experienced real estate professional to COPT's Board of Trustees," stated Jay H. Shidler, Chairman of the Board of Trustees for Corporate Office Properties Trust. "We look forward to utilizing his extensive knowledge in real estate and development as a resource as the Company continues to grow," he stated. Company Information Corporate Office Properties Trust (COPT) is a fully integrated, self-managed real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) that focuses on the ownership, management, leasing, acquisition and development of suburban office properties located primarily in submarkets within the Greater Washington, DC region. As of December 31, 2006, the Company owned 188 office properties totaling 15.9 million rentable square feet, which included 18 properties totaling 805,000 square feet held through joint ventures. The Company has implemented a core customer expansion strategy that is built around meeting, through acquisitions and development, the multi-location requirements of the Company's existing strategic tenants. The Company's property management services team provides comprehensive property and asset management to company owned properties and select third party clients. The Company's development and construction services team provides a wide range of development and construction management services for company owned properties, as well as land planning, design/build services, consulting, and merchant development to select third party clients. The Company's shares are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol OFC. More information on Corporate Office Properties Trust can be found on the Internet at www.copt.com. 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", "expect", "estimate" 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 these expectations, estimates and projections will be achieved. Future events and actual results may differ materially from those discussed in the forward-looking statements. Important factors that may affect these expectations, estimates, and projections include, but are not limited to: * the Company's ability to borrow on favorable terms; * general economic and business conditions, which will, among other things, affect office property demand and rents, tenant creditworthiness Creditworthiness The condition in which the risk of default on a debt obligation by that entity is deemed low. Creditworthiness Eligibility of an individual or firm to borrow money. , interest rates and financing availability; * adverse changes in the real estate markets including, among other things, increased competition with other companies; * risk of real estate acquisition and development, including, among other things, risks that development projects may not be completed on schedule, that tenants may not take occupancy or pay rent or that development or operating costs operating costs npl → gastos mpl operacionales may be greater than anticipated; * risks of investing through joint venture structures, including risks that the Company's joint venture partners may not fulfill their financial obligations as investors or may take actions that are inconsistent with the Company's objectives; * our ability to satisfy and operate effectively under federal income tax rules relating to real estate investment trusts and partnerships; * governmental actions and initiatives; and * environmental requirements. The Company undertakes no obligation to update or supplement any forward-looking statements. For further information, please refer to the Company's filings with the Securities and Exchange Commission, particularly the section entitled "Risk Factors" in Item 1 of the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2005. |
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