COPT Defense Properties is a publicly traded real estate investment trust that owns, operates, and develops office and data center shell properties serving defense-contracting, national-security, cybersecurity, and information-technology tenants. Founded in 1988 and headquartered in Columbia, Maryland, the company trades on the New York Stock Exchange under ticker symbol CDP and is an S&P 400 component. The portfolio is centered in defense and technology corridors where tenant demand is driven by U.S. Government missions, defense spending, security requirements, and local barriers to entry, particularly the Baltimore-Washington region and Northern Virginia, with additional presence in Huntsville and San Antonio. As of March 2026, the Defense/IT Portfolio reached 201 properties totaling 23.2 million square feet, including 24 properties held through unconsolidated joint ventures, and was 96.4% leased. The company's total portfolio of 25.2 million square feet was 94.4% occupied and 95.2% leased. The tenant base includes the U.S. Government and defense contractors engaged in national security missions requiring secure, proximate space near installations, agencies, and contractor ecosystems. The company operates as a self-managed REIT, earning revenue from recurring rent under multi-year leases supplemented by development and redevelopment activity. Geographic concentration centers on Maryland and Virginia defense installations, with the Baltimore-Washington region representing the core market, alongside exposure in Alabama and Texas defense corridors. In Q1 2026, the company achieved 90.8% tenant retention and committed nearly $250 million to three new investments over four months.