Blaine Heck

Dylan Burzinski

Anthony Paolone

Peter Abramowitz

Richard Anderson

William Catherwood

Michael Griffin

Steve Sakwa

Manus Ebeki

Manus Ibek

Seth Berge

Seth Bergey

Thomas Catherwood

- COPT DEFENSE PROPERTIES, L.P. and COPT DEFENSE PROPERTIES entered into a **Second Amendment to their Credit Agreement** on **October 6, 2025**.  **[860546_0000860546-25-000042_cdp8-kdtd10062025ex991.htm:0]** 
- The amendment **increases the aggregate Revolving Commitments from $600,000,000 to $800,000,000**.  **[860546_0000860546-25-000042_cdp8-kdtd10062025ex991.htm:1]** **[860546_0000860546-25-000042_cdp-20251006.htm:2]** 
- The **maturity date for the Revolving Credit Facility is extended from October 26, 2026, to October 5, 2029**, with options for two six-month extensions.  **[860546_0000860546-25-000042_cdp-20251006.htm:2]** 
- The accordion feature was refreshed, providing **$575,000,000 in additional capacity** for future increases in commitments or new term loans, bringing the potential aggregate facility size to **$1,500,000,000**.  **[860546_0000860546-25-000042_cdp8-kdtd10062025ex991.htm:1]** **[860546_0000860546-25-000042_cdp-20251006.htm:2]** 
- Interest terms for both the Revolving Credit Facility and the Term Loan were updated, now based on the Secured Overnight Financing Rate (SOFR) or the prime rate, plus a spread determined by credit ratings.  **[860546_0000860546-25-000042_cdp-20251006.htm:2]**

COPT DEFENSE PROPERTIES Amends Credit Agreement, Increases Revolving Commitments

- COPT Defense Properties, L.P. consummated an offering of **$400.0 million** aggregate principal amount of its **4.500% Senior Notes due 2030** on **October 2, 2025**.  **[860546_0001104659-25-095906_tm2527666d1_8k.htm:1]** **[860546_0001104659-25-095906_tm2527666d1_ex4-2.htm:18]** 
- The Notes carry an interest rate of **4.500% per annum**, with interest payable semi-annually on April 15 and October 15, commencing April 15, 2026.  **[860546_0001104659-25-095906_tm2527666d1_ex4-2.htm:4]** **[860546_0001104659-25-095906_tm2527666d1_ex4-2.htm:18]** 
- These Notes are **fully and unconditionally guaranteed** by COPT Defense Properties.  **[860546_0001104659-25-095906_tm2527666d1_8k.htm:1]** 
- The stated maturity date for the Notes is **October 15, 2030**.  **[860546_0001104659-25-095906_tm2527666d1_ex4-2.htm:2]** **[860546_0001104659-25-095906_tm2527666d1_ex4-2.htm:18]**

COPT Defense Properties, L.P. Issues $400 Million in Senior Notes

- COPT Defense Properties reported **Diluted FFO per share of $1.33** for the **six months ended June 30, 2025**, with **Net Operating Income (NOI) from real estate operations increasing 6.6% in Q2 2025** compared to Q2 2024.  **[860546_0001104659-25-092336_tm2525334d2_ex99-1.htm:8]** 
- As of **June 30, 2025**, the company's total portfolio occupancy reached **94.0%**, marking a **40 basis point increase since Q4 2024**, and the Defense/IT Portfolio occupancy stood at **95.6%**.  **[860546_0001104659-25-092336_tm2525334d2_ex99-1.htm:8]** 
- The **United States Government** represents a significant portion of the tenant base, contributing **35.8%** of the total **$701,089 thousand** in annualized rental revenue as of **June 30, 2025**.  **[860546_0001104659-25-092336_tm2525334d2_ex99-1.htm:5]** 
- Future demand is anticipated to be bolstered by an estimated **$113 billion increase** in the **FY 2026E DOD Budget Request** from the **One Big Beautiful Bill Act (OBBBA)**, signed into law on **July 4, 2025**, which is a **13% increase over FY 2025 Enacted**.  **[860546_0001104659-25-092336_tm2525334d2_ex99-1.htm:3]** 
- The company maintains a strong balance sheet, with **97% of its consolidated debt at a fixed rate** and an unencumbered portfolio accounting for **97% of total NOI** from real estate operations.

COPT Defense Properties Reports Q2 2025 Financial and Operating Results

- COPT Defense Properties (CDP) is a specialized REIT with **over 90% of its annualized rental revenue derived from defense IT properties** that support U.S. national defense activities.  **[860546_2138893_1]** 
- The company forecasts nearly **4% FFO per share growth** at the midpoint for **2025**, marking its **seventh consecutive year of FFO growth**, and has consistently raised its dividend, including in **2023, 2024, and 2025**.  **[860546_2138893_2]** 
- Significant growth opportunities are anticipated from a **13% increase in the base defense budget for FY 2026**  **[860546_2138893_3]** , the relocation of the **U.S. Space Command headquarters to Huntsville** which will involve **450,000-480,000 sq ft of development** by CDP and potential for an additional **1 million sq ft from contractors**  **[860546_2138893_4]** , and the **$175 billion "Golden Dome" anti-missile defense initiative**.  **[860546_2138893_5]** 
- The defense IT segment was **96.8% leased at quarter-end**  **[860546_2138893_1]** , and the company expects to achieve its elevated full-year guidance of **450,000 square feet in vacancy leasing**.  **[860546_2138893_6]**

COPT Defense Properties outlines 2025 growth forecast and defense market opportunities

- COPT Defense Properties is a specialized REIT with over **90%** of its annualized rental revenue derived from defense IT properties, supporting U.S. government national defense activities; the U.S. government contributes **36%** and defense contractors **51%** of revenue.  **[860546_2138677_2]** 
- The company forecasts nearly **4% FFO per share growth** at the midpoint of its **2025** guidance, marking its seventh consecutive year of FFO growth, and has increased its dividend in 2023, 2024, and 2025.  **[860546_2138677_2]** 
- Significant growth opportunities are expected from the **$150 billion** pre-appropriated amount in the "One Big Beautiful Bill" for fiscal year 2026, which adds **13%** to the base defense budget, and from the relocation of U.S. Space Command headquarters to Huntsville, where COPT Defense Properties will develop **3 buildings (450,000-480,000 square feet)** with potential for an additional **1 million square feet** of contractor development.  **[860546_2138677_3]** **[860546_2138677_4]**

COPT Defense Properties outlines defense-focused strategy and growth opportunities at BofA conference

- COPT Defense Properties is a specialized REIT with **over 90%** of its annualized rental revenue derived from defense IT properties, supporting mission-critical U.S. government defense activities.  **[860546_2138764_1]** **[860546_2138764_6]** 
- The company forecasts **nearly 4% FFO per share growth** at the midpoint of its **2025** guidance, marking its **seventh consecutive year of FFO growth**, and has increased its dividend in **2023, 2024, and 2025**.  **[860546_2138764_2]** 
- Significant growth opportunities are anticipated from the **relocation of U.S. Space Command headquarters to Huntsville**, potentially leading to **450,000 to 480,000 square feet** of development for the command and an additional **1 million square feet** for contractors.  **[860546_2138764_2]** **[860546_2138764_4]** 
- The **Golden Dome initiative**, an anti-missile defense shield with an estimated **$175 billion** budget and **$25 billion** appropriated for fiscal year **2026**, is expected to be a strong driver of future leasing demand.  **[860546_2138764_2]** **[860546_2138764_6]** 
- CDP maintains a strong leasing pipeline, with prospects for **over 70%** of its vacant space, and expects to meet or exceed its elevated guidance of **450,000 square feet** of vacancy leasing.  **[860546_2138764_2]** **[860546_2138764_8]**

COPT Defense Properties Discusses 2025 Outlook and Strategic Initiatives

- COPT Defense Properties is a specialized REIT with over **90%** of its annualized rental revenue derived from defense IT properties, supporting U.S. national defense missions, with **36%** from the U.S. government and **51%** from defense contractors.  **[860546_2138808_1]** 
- The company forecasts nearly **4% FFO per share growth** for 2025, marking its seventh consecutive year of FFO growth, and has increased its dividend for three consecutive years, including 2025.  **[860546_2138808_2]** 
- Significant growth opportunities are driven by a **13% increase** in the U.S. defense budget for fiscal year 2026, the relocation of U.S. Space Command headquarters to Huntsville (expected **450,000-480,000 sq ft** initial development with an additional **1 million sq ft** for contractors), and the **$175 billion** "Golden Dome" anti-missile defense shield initiative.  **[860546_2138808_2]** **[860546_2138808_3]** **[860546_2138808_4]** **[860546_2138808_6]** 
- CDP's defense IT segment was **96.8% leased** at quarter-end, and the company expects to meet its elevated full-year vacancy leasing guidance of **450,000 sq ft**.  **[860546_2138808_1]** **[860546_2138808_8]**

COPT DEFENSE PROPERTIES (CDP)