Easterly Government Properties acquires three building campus

Easterly Government Properties (DEA) announced that it has acquired a 97% leased, combined 295,253 square foot campus across three assets leased primarily to the Wake County Public School System WCPSS . The three properties serve as multi-purpose facilities, functioning as both operational headquarters and public-facing service centers that are critical to the tenant’s mission. WCPSS first occupied these facilities in 2011 under a lease that does not expire until 2034. “Easterly’s accelerated acquisition activity underscores our ability to pursue accretive capital deployment opportunities and deliver earnings growth to shareholders,” said Darrell Crate, President & CEO of Easterly Government Properties. “With this acquisition, we continue to increase our cash flows derived from a AAA rated government tenancy and maintain our portfolio’s weighted average remaining lease term.”