Corporate Office Properties Trust, a Columbia-based property developer and manager, announced that it experienced an increase of nearly $4 million in its funds from operations for the first quarter of 2007. Up 4.1 percent from what was reported during the opening quarter of 2006, funds from operations finished at $28.3 million. COPT did cite increases in depreciation totals of $7.9 million compared with last year?s first quarter. The depreciation of the recently acquired Nottingham portfolio, estimated at about $6.3 million, was a large driver for the dip.
