COPT CEO Anticipates Benefits from Increased Military Spending

Steve Budorick, president and CEO of Corporate Offices Properties Trust (NYSE: OFC), joined REIT.com for a CEO Spotlight video interview at REITWorld 2016: NAREIT’s Annual Convention for All Things REIT at the JW Marriott Phoenix Desert Ridge. Budorick succeeded Roger Waesche, Jr., as CEO of COPT in May.

COPT primarily focuses on U.S. government tenants in the defense and information technology sectors.

In October, COPT launched a new research platform to analyze and report on trends that affect COPT’s defense and IT locations. The company is also studying the evolving real estate dynamics that affect its non-defense, urban real estate locations.

Budorick said COPT launched the platform to take advantage of the significant amount of research it was already creating to educate investors and analysts on the business.

Meanwhile, Budorick said the results of November’s general election indicate that military spending will increase. With the White House and both houses of Congress in Republican hands, the approval process for defense spending will also be more streamlined, he added.