COLUMBIA, MD-Corporate Office Properties Trust has completed its public offering of 6.9 million preferred shares, which will pay an annual dividend of 7.35%. The offering generated net proceeds of approximately $166 million. Book runners for the transaction were Wells Fargo Securities and BofA Merrill Lynch, Pierce, Fenner & Smith. The senior co-managers were Citigroup Global Markets, KeyBanc Capital Markets and Raymond James & Associates.

The transaction was all in a day’s work for the REIT industry, which has been clocking in respectable levels of capital raising thus far in 2012. SNL Real Estate reports that year to date, as of June 1, common equity deals accounted for $8.46 billion of gross capital offerings, senior debt totaled $8.23 billion and preferred equity totaled $4.78 billion. In the prior-year period, common equity offerings totaled $11.52 billion, senior debt reached $8.65 billion and preferred equity accounted for $2.62 billion.

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