COPT DEFENSE PROPERTIES
For the period ended Sep 30, 2025. Filed Nov 4, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 4, 2025
CDP$33.46+1.8%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Financial Statements
Consolidated Balance Sheets
(in thousands, except share data)
| September 30,2025 | December 31,2024 | |
|---|---|---|
| Assets | ||
| Properties, net | ||
| Operating properties, net | $3,372,672 | $3,353,477 |
| Projects in development or held for future development | 353,184 | 277,049 |
| Total properties, net | 3,725,856 | 3,630,526 |
| Property - operating lease right-of-use assets | 51,838 | 55,760 |
| Cash and cash equivalents | 23,687 | 38,284 |
| Investment in unconsolidated real estate joint ventures | 36,301 | 39,360 |
| Accounts receivable, net | 38,931 | 42,234 |
| Deferred rent receivable | 173,758 | 161,438 |
| Lease incentives, net | 68,263 | 64,013 |
| Deferred leasing costs (net of accumulated amortization of $42,807 and $44,060, respectively) | 72,272 | 71,268 |
| Investing receivables (net of allowance for credit losses of $4,204 and $2,792, respectively) | 79,772 | 69,680 |
| Prepaid expenses and other assets, net | 80,754 | 81,628 |
| Total assets | $4,351,432 | $4,254,191 |
| Liabilities and equity | ||
| Liabilities | ||
| Debt, net | $2,443,518 | $2,391,755 |
| Accounts payable and accrued expenses | 135,331 | 126,031 |
| Rents received in advance and security deposits | 36,988 | 38,560 |
| Dividends and distributions payable | 35,220 | 33,909 |
| Deferred revenue associated with operating leases | 43,671 | 39,752 |
| Property - operating lease liabilities | 46,203 | 49,240 |
| Other liabilities | 31,245 | 14,377 |
| Total liabilities | 2,772,176 | 2,693,624 |
| Commitments and contingencies (Note 17) | ||
| Redeemable noncontrolling interest | 24,217 | 23,974 |
| Equity | ||
| Shareholders’ equity | ||
| Common Shares of beneficial interest ($0.01 par value; 150,000,000 shares authorized; shares issued and outstanding of 112,950,359 at September 30, 2025 and 112,703,460 at December 31, 2024) | 1,130 | 1,127 |
| Additional paid-in capital | 2,497,736 | 2,494,369 |
| Cumulative distributions in excess of net income | (991,935) | (1,003,401) |
| Accumulated other comprehensive income | 79 | 988 |
| Total shareholders’ equity | 1,507,010 | 1,493,083 |
| Noncontrolling interests in subsidiaries | ||
| Common units in COPT Defense Properties, L.P. (“CDPLP”) | 33,024 | 28,935 |
| Other consolidated entities | 15,005 | 14,575 |
| Noncontrolling interests in subsidiaries | 48,029 | 43,510 |
| Total equity | 1,555,039 | 1,536,593 |
| Total liabilities, redeemable noncontrolling interest and equity | $4,351,432 | $4,254,191 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.