LAUREATE EDUCATION, INC. 10-K

Item 2. Properties Laureate is headquartered in Baltimore, Maryland. The following table summarizes the properties included in Continuing Operations by segment and in Discontinued Operations, each as of December 31, 2020: Segment Square feet leased space Square feet owned space Total square feet Mexico 28,064,481 8,529,832 36,594,313 Peru (formerly Andean) 884,163 5,521,627 6,405,790 Corporate (including headquarters) 110,575 — 110,575 Discontinued Operations 12,180,817 5,086,083 17,266,900 Total 41,240,036 19,137,542 60,377,578 Our Mexico and Peru segments lease or own various sites that may include a local headquarters and all or some of the facilities of a campus or location. Our facilities are often subject to mortgages. Our Corporate headquarters consists principally of leased facilities in Baltimore, Maryland, which are used primarily for office space. We monitor the capacity of our higher education institutions on a regular basis and make decisions to expand capacity based on expected enrollment and other factors. Our leased facilities are occupied under leases whose remaining terms range from one month to 17 years. A majority of these leases contain provisions giving us the right to renew the lease for additional periods at various rental rates, although generally at rates higher than we are currently paying.