Corporate Office Properties Trust has sold eight properties in the White Marsh region of Baltimore, Maryland and accumlated $28 million in revenue.
The move to dispose the assets is part of the real estate investment trust’s strategy to provide its core holdings more room to perform in the company portfolio, COPT said Thursday.
The transactions involved two buildings along Mercantile Road that were purchased by a redeveloper and another two along Franklin Square Drive sold to an owner-occupier.
Four more buildings along Campbell Boulevard figured in a 1031 exchange with a buyer, COPT said.
The REIT’s core holdings are composed of office buildings that cater to government agencies and defense contractors.