Cogdell Spencer Inc. is a fully integrated, self-administered and self-managed real estate investment trust (REIT) that invests in specialty office buildings for the medical profession, including medical offices and ambulatory surgery and diagnostic centers. The Company focuses on the ownership, development, re-development, acquisition and management of medical office buildings and other healthcare related facilities located in the United States. The Company operates its business through Cogdell Spencer LP, its operating partnership subsidiary (the Operating Partnership), and its subsidiaries. The Company operates in two segments: property operations and design-build and development. Property operations own and manage properties and also manage properties for third parties. Its design-build and development provides architecture, construction and development services for properties owned by the Company and for third parties.