Easterly Government Properties Completes Acquisition of VA - Columbus, the Seventh of 10 Properties in the VA Portfolio
WASHINGTON, D.C. – July 18, 2022 – 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, through its joint venture (“JV”), completed the acquisition of the previously
announced 67,793 leased square foot outpatient facility leased to the Department of Veterans
Affairs (VA) located in Columbus, Georgia (“VA - Columbus”). VA - Columbus is the seventh
property to be acquired in the previously announced portfolio of 10 properties 100% leased to
the VA under predominately 20-year firm term leases (the “VA Portfolio”).
“Easterly has now closed on seven of the 10 assets in the VA Portfolio through its JV and
remains on pace to complete its previously stated $145 million pro rata JV acquisition target for
2022,” said William C. Trimble, III, Easterly’s Chief Executive Officer.
The VA Portfolio is comprised of the following 10 properties, arranged by anticipated lease
commencement date:
Property Name State Leased
SF
Leased Lease
Term (Yrs)
Status
VA - Chattanooga TN 94,566 100% 15.0 Delivered (Nov. 2020) / Acquired (Nov. 2021)
VA - Lubbock TX 120,916 100% 20.0 Delivered (Dec. 2020) / Acquired (Oct. 2021)
VA - Lenexa KS 31,062 100% 20.0 Delivered (May 2021) / Acquired (Oct. 2021)
VA - San Antonio TX 226,148 100% 20.0 Delivered (Aug. 2021) / Acquired (Dec. 2021)
VA - Birmingham AL 77,128 100% 20.0 Delivered (Nov. 2021) / Acquired (Apr. 2022)
VA - Marietta GA 76,882 100% 20.0 Delivered (Dec. 2021) / Acquired (May 2022)
VA - Columbus GA 67,793 100% 20.0 Delivered (Jan. 2022) / Acquired (July 2022)
VA - Phoenix AZ 257,294 100% 20.0 Delivered (Feb. 2022) / Future Acquisition
VA - Corpus Christi TX 69,276 100% 20.0 Development / Future Acquisition
VA - Jacksonville FL 193,100 100% 20.0 Development / Future Acquisition
Totals 1,214,165 100% 19.6(1)
(1) Weighted average by leased square foot.
Year to date, Easterly has acquired, either directly or through the JV, five properties for an
aggregate pro rata contractual purchase price of approximately $164.1 million, comprised of (i)
$92.7 million of the wholly owned acquisition target of $200.0 – $250.0 million; and (ii) $71.4
million of the pro rata JV acquisition target of $145.0 million. Easterly owns, directly or through
the JV, 94 properties totaling 9.1 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.
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on Form 10-K filed on February 28, 2022 and our Quarterly Report on Form 10-Q on May
3, 2022. Although we believe the expectations reflected in such forward-looking
statements are based upon reasonable assumptions, we can give no assurance that the
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Easterly Government Properties, Inc.
Symbol: DEA
CIK: 1622194
Exchange: NYSE
Founded: 2014 (10 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Small-Cap
REIT Sector: Office
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Last updated: 2024-05-14 - v1.3