# EDGAR Filing Document

**Accession Number:** 0001577966
**File Stem:** 0001104659-25-092592
**Filing Date:** 2025-9
**Character Count:** 5817
**Document Hash:** a99bc1904a47a9ac702082ad376902aa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-092592.hdr.sgml**: 20250923

**ACCESSION NUMBER**: 0001104659-25-092592

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250923

**DATE AS OF CHANGE**: 20250923

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COPT DEFENSE PROPERTIES, L.P.
- **CENTRAL INDEX KEY:** 0001577966
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 232930022
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-286440-01
- **FILM NUMBER:** 251334731

**BUSINESS ADDRESS:**
- **STREET 1:** 6711 COLUMBIA GATEWAY DRIVE
- **STREET 2:** SUITE 300
- **CITY:** COLUMBIA
- **STATE:** MD
- **ZIP:** 21046
- **BUSINESS PHONE:** 443-285-5400

**MAIL ADDRESS:**
- **STREET 1:** 6711 COLUMBIA GATEWAY DRIVE
- **STREET 2:** SUITE 300
- **CITY:** COLUMBIA
- **STATE:** MD
- **ZIP:** 21046

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Corporate Office Properties, L.P.
- **DATE OF NAME CHANGE:** 20130528
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COPT DEFENSE PROPERTIES, L.P.
- **CENTRAL INDEX KEY:** 0001577966
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 232930022
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 6711 COLUMBIA GATEWAY DRIVE
- **STREET 2:** SUITE 300
- **CITY:** COLUMBIA
- **STATE:** MD
- **ZIP:** 21046
- **BUSINESS PHONE:** 443-285-5400

**MAIL ADDRESS:**
- **STREET 1:** 6711 COLUMBIA GATEWAY DRIVE
- **STREET 2:** SUITE 300
- **CITY:** COLUMBIA
- **STATE:** MD
- **ZIP:** 21046

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Corporate Office Properties, L.P.
- **DATE OF NAME CHANGE:** 20130528

**Free Writing Prospectus**

**Filed pursuant to Rule 433<br> Dated September 23, 2025<br> Relating to<br> Preliminary Prospectus Supplement, dated September 23, 2025 to**

**Prospectus, dated, April 8, 2025**

**Registration Statement Nos. 333-286440 and 333-286440-01**

Final Term Sheet dated September 23, 2025

Final Term Sheet

![A blue and grey logo AI-generated content may be incorrect.](tm2525334d4_fwpimg01.jpg)

**4.500% Senior Notes due 2030**

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| | |
|:---|:---|
| **Issuer:**<br>**Guarantor:**<br>**Format:**  | COPT Defense Properties, L.P.<br>COPT Defense Properties<br>SEC Registered |
| **Expected Ratings (Moody's/S&P/Fitch):\*** | Baa3 / BBB- / BBB- |
| **Principal Amount:** | $400000000 |
| **Title of Securities:** | 4.500% Senior Notes due 2030 |
| **Trade Date:** | September 23, 2025 |
| **Original Issue Date (Settlement Date):** | October 2, 2025 (T+7) |
| **Maturity Date:** | October 15, 2030 |
| **Interest Payment Dates:** | Semi-annually in arrears on each April 15 and October 15, commencing April 15, 2026 |
| **Benchmark Treasury:** | 3.625% due August 31, 2030 |
| **Benchmark Treasury Price/Yield:** | 99-25+ / 3.670% |
| **Spread to Benchmark Treasury:** | T+95 basis points |
| **Yield to Maturity:** | 4.620% |
| **Coupon (Interest Rate):** | 4.500% per annum |
| **Public Offering Price:** | 99.464% of the principal amount |
| **Optional Redemption Provisions:** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Make-Whole Call:** | Prior to September 15, 2030, T+15 basis points |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Par Call:** | On or after September 15, 2030 |
| **CUSIP / ISIN:** | 12713U AA4 / US12713UAA43 |

---

---

| | |
|:---|:---|
| **Joint Book-Running Managers:** | Wells Fargo Securities, LLC<br>PNC Capital Markets LLC<br>TD Securities (USA) LLC<br>KeyBanc Capital Markets Inc. |
| **Co-Manager:** | M&T Securities, Inc. |

---

**\*Note:** A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.

**Changes to Preliminary Prospectus Supplement:** 

As of September 22, 2025, we had approximately $136.0 million of borrowings outstanding under our unsecured revolving credit facility and approximately $125.0 million outstanding on the existing term loan. Borrowings under our unsecured revolving credit facility had a weighted average interest rate of approximately 5.37% per annum and will mature on October 26, 2026, and the existing term loan had an interest rate of approximately 5.68% per annum and will mature on January 30, 2026.

**The issuer has filed a registration statement (including a prospectus) and a preliminary prospectus supplement, dated September 23, 2025 with the Securities and Exchange Commission (the "SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement, the related preliminary prospectus supplement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus supplement and accompanying prospectus if you request it by calling Wells Fargo Securities, LLC toll-free at 1-800-645-3751; PNC Capital Markets LLC toll-free at 1-855-881-0697; and TD Securities (USA) LLC toll-free at 1-855-495-9846.**

**Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.**