Quarterly report pursuant to Section 13 or 15(d)

Equity

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Equity
 6 Months Ended
Jun. 30, 2013
Equity [Abstract]  
Equity
Equity
 
On April 22, 2013, COPT redeemed all of its outstanding 7.625% Series J Preferred Shares of beneficial interest (the “Series J Preferred Shares”) at a price of $25 per share, or $84.8 million in the aggregate, plus accrued and unpaid dividends thereon through the date of redemption. Concurrently, COPLP redeemed the Series J Preferred Units previously owned by COPT that carried terms substantially the same as the Series J Preferred Shares. At the time of the redemption, we recognized a $2.9 million decrease to net income available to common shareholders/unitholders pertaining to the original issuance costs incurred on these securities.

On March 19, 2013, COPT completed a public offering of 4,485,000 common shares at a price of $26.34 per share for net proceeds of $118.1 million (after underwriter discounts but before offering expenses) that were contributed to COPLP in exchange for 4,485,000 common units.

During the six months ended June 30, 2013, limited partners in COPLP holding common units redeemed 279,019 common units in COPLP for common shares in COPT on the basis of one common share for each common unit.

See Note 12 for disclosure of COPT common share and COPLP common unit activity pertaining to our share-based compensation plans.