Easterly Government acquires property leased to OCIO & ICE, near Dallas TX

Easterly Government Properties announced that it has acquired a 135,200 square foot facility primarily leased to the Office of the Chief Information Officer and Office of Human Capital of the U.S. Immigration and Customs Enforcement, ICE, located near Dallas, Texas…”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 8.9M square feet.