Easterly Government Properties Acquires 56,330 SF Department of Veterans Affairs Outpatient Facility
WASHINGTON--(BUSINESS WIRE)--Nov 26, 2019--
Easterly Government Properties, Inc. (NYSE: DEA), 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, announced today that it has acquired a to-be-completed 56,330-square foot Department of Veterans Affairs (“VA”) outpatient facility located in the Northeast United States.
This state-of-the-art facility, once delivered, will be an expansion and relocation of an existing VA facility in the region. Further, the facility will also benefit from its close proximity to the existing VA Hospital Campus. This build-to-suit outpatient facility, which is subject to an initial, non-cancelable lease term of 15 years, has been designed to achieve Green Globes Certification for New Construction.
The facility is expected to serve as the new home for a multitude of services and programs, including: primary care, mental health care and intensive case management services, team vocational services, psychosocial recovery rehabilitation center (PRRC) treatment programs, health wellness programs, health psychology and dietetics, outpatient addiction recovery services, a substance abuse day program and peer support services. The facility will also house various national VA programs including the National Center for PTSD Clinical Neurosciences Administration Division and the Pain, Research, Informatics, Medical Comorbidities and Education (PRIME) Center.
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 primarily 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 28, 2019. 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191126005136/en/
CONTACT: Easterly Government Properties, Inc.
Lindsay S. Winterhalter
Vice President, Investor Relations & Operations
KEYWORD: DISTRICT OF COLUMBIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY HEALTH BUILDING SYSTEMS HOSPITALS REIT OTHER CONSTRUCTION & PROPERTY OTHER HEALTH
SOURCE: Easterly Government Properties, Inc.
Copyright Business Wire 2019.
PUB: 11/26/2019 09:00 AM/DISC: 11/26/2019 09:01 AM