COPT Earns Third Consecutive "Green Star" Rating from GRESB for 2017 Sustainability Survey
12 Oktober 2017 - 10:16PM
Business Wire
For the third year in a row, Corporate Office Properties Trust
(“COPT” or the “Company”) (NYSE: OFC) earned a Green Star rating in
the Global Real Estate Sustainability Benchmark (“GRESB”) survey.
The GRESB annual survey is the global real estate industry’s most
rigorous assessment of sustainability performance, and its Green
Star rating represents high achievement in each of the survey’s
seven aspects. COPT’s 2017 overall score ranks the Company 9th out
of the 12 listed office REITs in the United States who participated
in the survey, 26th among 49 North American office participants,
and 96th among 183 operating office portfolios that participated
worldwide. Globally, COPT’s overall GRESB score in 2017 earned four
out of five stars, and ranked 327th out of 823 total GRESB
participants.
In addition to its seven core aspects of measurement, the GRESB
survey provides two additional modules on which participants may
submit surveys: New Construction & Major Renovations
(“Development Module”), and Health & Well-being (“Wellness
Module”). COPT’s score of 89 out of a possible 100 points this year
in the Development Module represented a significant premium to the
69-point average of its 12 listed office REITs peers, and an even
higher premium than the overall GRESB average of 51.
GRESB introduced its Wellness Module with the 2016 survey, and
COPT has participated in that module both years. In 2017, COPT
scored 87 out of a possible 100 points and, for the second year in
a row, ranked 1st among the eight listed office REITs in the United
States who also completed the Wellness Module. Additionally, COPT’s
2017 Wellness Module submittal ranked 4th among the 57 North
American participants, and 25th among the 244 global
participants.
About GRESB
GRESB’s mission is to enhance and protect shareholder value by
assessing and empowering sustainability practices in the real asset
sector. GRESB assesses the sustainability performance of real asset
sector portfolios and assets in public, private and direct sectors
worldwide. It offers environmental, social, and governance (“ESG”)
data, scorecards, benchmark reports and portfolio analysis
tools.
Its annual dynamic survey collects information regarding the
sustainability performance of companies, funds and assets,
including information on performance indicators, such as energy,
GHG emissions, water and waste. Survey questions are guided by what
investors and the industry consider to be material issues in the
sustainability performance of real asset investments and are
aligned with international reporting frameworks such as GRI and
PRI. For more information, please refer to www.GRESB.com.
About COPT
COPT is an office REIT that owns, manages, develops and
selectively acquires office and data center properties in locations
that support the United States Government and its contractors, most
of whom are engaged in national security, defense and information
technology (“IT”) related activities servicing priority missions
(“Defense/IT Locations”). The Company also owns a portfolio of
office properties located in select urban/urban-like submarkets
within its regional footprint with durable Class-A office
fundamentals and characteristics (“Regional Office Properties”). As
of June 30, 2017, the Company derived 87% of core portfolio
annualized revenue from Defense/IT Locations and 13% from its
Regional Office Properties. As of June 30, 2017, and including six
buildings that are owned through an unconsolidated joint venture,
its core portfolio of 153 office properties encompassed 16.6
million square feet and was 94.8% leased. As of the same date, it
also owned one wholesale data center with a critical load of 19.25
megawatts.
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,” “could,” “believe,” “anticipate,”
“expect,” “estimate,” “plan” 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:
- general economic and business
conditions, which will, among other things, affect office property
and data center demand and rents, tenant creditworthiness, interest
rates, financing availability and property values;
- adverse changes in the real estate
markets including, among other things, increased competition with
other companies;
- governmental actions and initiatives,
including risks associated with the impact of a prolonged
government shutdown or budgetary reductions or impasses, such as a
reduction in rental revenues, non-renewal of leases, and/or a
curtailment of demand for additional space by the Company's
strategic customers;
- the Company’s ability to borrow on
favorable terms;
- risks of real estate acquisition and
development activities, 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 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;
- changes in the Company’s plans for
properties or views of market economic conditions or failure to
obtain development rights, either of which could result in
recognition of significant impairment losses;
- the Company’s ability to satisfy and
operate effectively under Federal income tax rules relating to real
estate investment trusts and partnerships;
- the Company's ability to achieve
projected results;
- the dilutive effects of issuing
additional common shares; 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 1A of the Company’s Annual Report on Form 10-K for the year
ended December 31, 2016.
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version on businesswire.com: http://www.businesswire.com/news/home/20171012006246/en/
Corporate Office Properties TrustIR Contacts:Stephanie
Krewson-Kelly, 443-285-5453stephanie.kelly@copt.comorMichelle
Layne, 443-285-5452michelle.layne@copt.com
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