COPT Sells Wholesale Data Center to CloudHQ

Reston – February 7, 2022 – Cooley advised Corporate Office Properties Trust on its agreement to sell its only multi-tenant data center, known as DC-6, to CloudHQ’s Cloud Capital for $222.5 million. Lawyers Michelle Garcia Schulman, Alanna Zuchelli and Adrienne Deshmukh led the Cooley team advising COPT, which is listed on the New York Stock Exchange under the symbol OFC.

“We are pleased to transfer DC-6 to the Cloud Capital team, whose extreme professionalism supported a smooth underwriting process and imbues us with confidence that our tenants will be well-served,” Stephen Budorick, president and chief executive officer of COPT, said in a news release. “Furthermore, this sale provides our company with cost-effective equity capital to fund our highly successful and value accretive development pipeline, simplifies our corporate profile by removing the only multi-tenant data center from our portfolio and further concentrates our capital allocation to Defense/IT Locations.”

COPT is a real estate investment trust that owns, manages, leases, develops and selectively acquires office and data center properties. The majority of its portfolio is in locations that support the US government and its contractors, most of whom are engaged in national security, defense and information technology-related activities in service of what the company believes are growing, durable and priority missions.

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