CORPORATE OFFICE PROPERTIES TRUST RECEIVES $225M LOAN FACILITY

COLUMBIA, MD. — Columbia-based Corporate Offices Properties Trust has closed on a $225 million construction loan facility that will be utilized to fund the majority of its construction costs during the next several years. The facility has a 3-year term with a 1-year extension option and requires interest only payments throughout the term. Also, an accordion feature allows for a potential increase up to $325 million at a future date. The three lead banks in the transaction were KeyBank National Association, Bank of America, N.A. and Manufacturers and Traders Trust Company.