COPT Defense Properties (NYSE: CDP) is a real estate investment trust that owns, develops, and manages office and data center properties focused on U.S. government defense and intelligence agency tenants. Revenue comes primarily from rental income generated by long-term leases with government contractors and federal agencies occupying properties in government-adjacent locations. The company's tenant base centers on defense and intelligence community users, which creates concentration in that end market. Based on the 10-K filed 2026-02-20 (accession 000086054626000011), the filing excerpts provided do not contain sufficient detail to confirm specific portfolio size, segment revenue breakdown, occupancy rates, debt structure, leadership tenure, or founding year. Those figures are therefore omitted here. What the filing classification confirms is that CDP operates as a REIT structured around defense-oriented real estate, with rental lease income as the core revenue mechanism and U.S. government defense spending as the primary demand driver.

Revenue model

Rental income from long-term leases on office and data center properties occupied by U.S. government defense and intelligence tenants.

Products and services

Office properties and data center shells leased to defense and intelligence community tenants.

Customers and end markets

U.S. federal government agencies and defense contractors in the intelligence and defense end markets.

Value-chain role

Property owner, developer, and landlord serving the U.S. defense and intelligence real estate market.

Geographic exposure

United States, concentrated in government-adjacent defense and intelligence community locations.

Source: SEC 10-K, filed 2026-02-20

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