Corporate Office Properties Trust and Its Largest Shareholder Plan to Sell 9,400,000 Common Shares; Selling Shareholder Plans to Sell 8,600,000 Common Shares.Business Editors COLUMBIA, Md.--(BUSINESS WIRE)--Feb. 15, 2002 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 (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 the launch of an offering of 9,400,000 common shares of beneficial interest. Of the shares to be offered, the Company's largest shareholder, Constellation Real Estate, Inc. ("Constellation") intends to sell 8,600,000 common shares and the Company plans to sell the remaining 800,000 common shares. The underwriters have a 30-day over-allotment option to purchase up to an additional 1,222,000 common shares, of which the first 276,172 additional common shares will be purchased from Constellation, and the remaining 945,828 common shares from the Company. The lead underwriters for this transaction will be Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , A.G. Edwards & Sons, Inc., Legg Mason Founded in 1899, Legg Mason, Inc. (NYSE: LM) is a leading Global Asset Management Firm that serves the institutional, mutual fund and wealth management markets. The firm is headquartered in Baltimore, Maryland, and is located on Lombard and Charles Streets in the Legg Mason Wood Walker Incorporated, and McDonald Investments. In addition, BB&T Capital Markets and Ferris, Baker Watts will act as co-managers for this transaction. Copies of the preliminary prospectus Preliminary Prospectus A first draft registration statement filed by a firm prior to proceeding with an initial public offering of securities. The document, filed with the Securities & Exchange Commission, is intended to provide pertinent information to prospective shareholders supplement may be obtained from the prospectus department at Credit Suisse First Boston, at 11 Madison Avenue Madison Avenue, celebrated street of Manhattan, borough of New York City. It runs from Madison Square (23d St.) to the Madison Bridge over the Harlem River (138th St.). In the 1940s and 50s, some of the major U.S. , level 1-B, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New York, 10010, (212) 325-2580. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities. Company Information Corporate Office Properties Trust is a fully-integrated, self-managed real estate investment trust which focuses on the ownership, management, leasing, acquisition and development of suburban office properties located in select Mid-Atlantic submarkets. The Company currently owns 98 office properties totaling 7.8 million rentable square feet, including two properties held through joint ventures. Corporate Development Services, the Company's development company, provides a wide range of development and construction management services. In addition, Corporate Office Services provides land planning, design/build services, consulting and merchant development to third party entities. Forward-Looking Information This press release contains forward-looking information based upon the Company's current best judgement and expectations. Actual results could vary from those presented herein. The risks and uncertainties associated with the forward-looking information include the strength of the commercial office real estate market in which the Company operates, competitive market conditions, general economic growth, interest rates and capital market conditions. For further information, please refer to the Company's filings with the Securities and Exchange Commission. Website www.copt.com |
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