Jana Galan
Thank you all for joining us for the final roundtable of the Bank of America’s 2025 Global Real Estate Conference. I’m Jana Galan, and I cover the office REITs at BofA. We’re very pleased to have with us COPT Defense Properties CEO and President, Steve Budorick here today.
Steve will introduce his team and provide some opening remarks, and then we’ll open it up for questions.
Stephen E. Budorick
President, CEO & Trustee
So with me is our Chief Operating Officer, Britt Snider; and our Chief Financial Officer, Anthony Mifsud and we’re pleased to be here. So thank you.
So COPT Defense Properties is a specialized REIT, deeply concentrated mission-critical assets that support the national defense activity in the United States government. The vast majority of our 204 properties are located adjacent to are sometimes occupied by priority defense missions generally involving knowledge-based defense activities.
Missions that we support include intelligence, surveillance, reconnaissance, cybersecurity and network activity, naval sea and air technology development, missile attack and defense systems, drone aviation technology, development cloud computing and others.
Our property locations are not typical for an office company because they are proximate to important United States defense installations in Virginia, Maryland, Washington, D.C., Alabama and Texas. Our properties are unique in that they are approved for top secret mission work. 80% of our defense portfolio contains high security operations and that 80% includes 8 U.S. government secured campuses, representing over 4 million square feet that are built to antiterrorism force protection and SCIF standards. SCIF is an acronym for secured compartmentalized information facility.
