Easterly Government Properties Acquires 135,200 SF U.S. Immigration and Customs Enforcement Information Technology Facility Near Dallas, Texas
16 Abril 2024 - 8:00AM
Business Wire
~ Easterly continues its growth trajectory by
acquiring a federally leased facility that carries an inaugural
20-year term ~
Easterly Government Properties, Inc. (NYSE: DEA) (the “Company”
or “Easterly”), a fully integrated real estate investment trust
focused primarily on the acquisition, development and management of
Class A commercial properties leased to the U.S. Government and its
adjacent partners, announced today that it has acquired a 135,200
square foot facility primarily leased to the Office of the Chief
Information Officer (“OCIO”) and Office of Human Capital of the
U.S. Immigration and Customs Enforcement (ICE), located near
Dallas, Texas (“ICE - Dallas”).
ICE - Dallas is a 95% leased facility that has been renovated to
suit the ICE’s OCIO and Office of Human Capital. The OCIO is
responsible for delivering innovative information technology (IT)
and business solutions that enable ICE to protect and secure the
nation. The asset will help facilitate the OCIO’s mission critical
IT initiatives to modernize ICE’s IT systems and adapt and conform
to modern IT management disciplines. Two additional triple net
(NNN) private tenants occupy the remaining leased space and feature
annual lease escalations. The weighted average initial lease term
for all three tenancies is 16.2 years and still carries a weighted
average remaining lease term of 13.3 years at the time of this
release.
“This strategic acquisition positions us to further enhance
Easterly’s cashflows and provide accretive growth for our
shareholders,” said Darrell Crate, Easterly’s Chief Executive
Officer. “With the addition of this asset and the excellent
creditworthiness of our tenancy, we continue to fortify our balance
sheet to enable continued growth across market cycles.”
Easterly’s acquisition value was predicated on the current
leased square footage of the property, which excludes unleased
space to which we attribute no value as part of the purchase price.
ICE - Dallas currently has an additional 6,154 square feet
available for future leasing as a value-add opportunity.
With this acquisition, Easterly owns, directly or through the
Company’s joint venture, 91 properties totaling 8.9 million square
feet.
About Easterly Government Properties, Inc.
Easterly Government Properties, Inc. (NYSE: DEA) is based in
Washington, D.C., and focuses primarily on the acquisition,
development and management of Class A commercial properties that
are leased to the U.S. Government. Easterly’s experienced
management team brings specialized insight into the strategy and
needs of mission-critical U.S. Government agencies for properties
leased to such agencies either directly or through the U.S. General
Services Administration (GSA). For further information on the
company and its properties, please visit www.easterlyreit.com.
This press release contains forward-looking statements within
the meaning of federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as “believe,” “expect,” “intend,” “project,”
“anticipate,” “position,” and other similar terms and phrases,
including references to assumptions and forecasts of future
results. Forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties and
other factors which may cause the actual results to differ
materially from those anticipated at the time the forward-looking
statements are made. These risks include, but are not limited to
those risks and uncertainties associated with our business
described from time to time in our filings with the Securities and
Exchange Commission, including our Annual Report on Form 10-K filed
on February 27, 2024. Although we believe the expectations
reflected in such forward-looking statements are based upon
reasonable assumptions, we can give no assurance that the
expectations will be attained or that any deviation will not be
material. All information in this release is as of the date of this
release, and we undertake no obligation to update any
forward-looking statement to conform the statement to actual
results or changes in our expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20240416170478/en/
Easterly Government Properties, Inc. Lindsay S. Winterhalter
Senior Vice President, Investor Relations & Operations
202-596-3947 ir@easterlyreit.com
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