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COLUMBIA, MD-Corporate Office Properties Trust plans to sell six million newly issued common shares in an underwritten public offering. The REIT plans to use the proceeds to repay amounts outstanding under its unsecured revolving credit facility and for general corporate purposes. The joint book-running managers for the offering are Wells Fargo Securities, J.P. Morgan and Barclays.

The sale comes as the REIT continues to execute its strategic reallocation plan–which is on a stead track, according to comments made by says Roger A. Waesche, Jr., president & CEO of COPT, in the REIT’s last earnings call. By July, he said, the company had exceeded its 2012 goal in terms of selling assets and reinvesting part of the proceeds into a highly strategic new property. “We have sold 58 buildings that contain 3.2 million square feet and adjacent land for $394 million.”

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