Search
 

New JV To Make $300M in Warehouse Purchases and Conversions

COLUMBIA, MD-Corporate Office Properties Trust joins forces with Opportunity Invest LLC to create COPT Opportunity Invest I LLC. The entity will acquire up to $300 million in warehouse properties for redevelopment into office space in the Greater Washington, DC area.

By Barbra Murray | Updated on December 21, 2005

(To read more on the industrial market, click here.)

COLUMBIA, MD-Corporate Office Properties has teamed up with Opportunity Invest LLC in a joint venture that will focus on acquiring warehouse properties predominantly located in the Greater Washington, DC area for redevelopment into class A office properties The joint venture, COPT Opportunity Invest I LLC, will spend up to $300 million on purchases, two of which have already closed.

In establishing the joint venture, COPT made an initial investment of $900,000 and will have ownership of an 80% to 93% interest in the properties acquired by COPT Opportunity. Opportunity Invest made an initial contribution of $100,000 for the JV’s formation.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.