Easterly Government Properties Acquires 116,500 SF Defense Health Agency Facility in Aurora, CO
WASHINGTON--(BUSINESS WIRE)--Jan 9, 2020--
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, announced today that it has acquired a 116,500-square foot Defense Health Agency (“DHA”) mission critical facility in Aurora, Colorado (“DHA - Aurora”).
DHA - Aurora, a build-to-suit property specifically constructed for the DHA, was originally built in 1998 and underwent a sizeable renovation in 2018 upon the execution of a new 15-year lease. The facility is 87% leased to the GSA for the beneficial use of the DHA with a lease expiration of April 2034.
This facility houses a portion of the DHA’s health insurance program, referred to as TRICARE. The TRICARE Program is responsible for providing insurance to approximately 9.5 million beneficiaries through private medical providers or the DHA’s own network of 51 military hospitals, 424 military medical clinics and 248 dental facilities located worldwide. Specific functions within DHA - Aurora include its General Law Division, the Appeals, Hearings and Claims Collection Division, and the Program Integrity Office. To facilitate these needs, the property includes an upgraded data center with raised flooring, a conference facility, security, lighting and other specific tenant finishes. The facility is also located less than half a mile from Buckley Air Force Base, which serves over 92,000 service members.
“We are pleased to start the new year with the acquisition of another mission critical facility,” said William C. Trimble, III, Easterly’s Chief Executive Officer. “Our robust acquisition pipeline continues to provide us with the means to grow accretively the Company’s total enterprise.”
The DHA falls under the Defense Department’s Military Health System, which is designed to improve the readiness of America’s forces and the health care provided to warfighters, retirees and their families. The DHA is a joint, integrated Combat Support Agency that enables the Army, Navy and Air Force with the medical services needed for Combatant Commands in both peacetime and wartime.
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 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/20200109005133/en/
CONTACT: Easterly Government Properties, Inc.
Lindsay S. Winterhalter
Vice President, Investor Relations & Operations
KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA COLORADO
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY REIT PROFESSIONAL SERVICES HEALTH GENERAL HEALTH HOSPITALS OTHER DEFENSE DEFENSE INSURANCE DENTAL
SOURCE: Easterly Government Properties, Inc.
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PUB: 01/09/2020 09:00 AM/DISC: 01/09/2020 09:01 AM