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Home Commercial CoreCivic Sells Otay Mesa and California City Detention Facilities to Federal Government for $1.5B
CommercialFinanceIndustry NewsSan Diego

CoreCivic Sells Otay Mesa and California City Detention Facilities to Federal Government for $1.5B

July 13, 20263 Mins read389
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CoreCivic has monetized two of its largest California detention properties in a $1.5 billion cash sale to the federal government while holding onto the contracts to run them, a maneuver that turns real estate into balance-sheet firepower without surrendering the underlying business. Brentwood, Tenn.-based CoreCivic, Inc. (NYSE: CXW) completed the sale of its 1,994-bed Otay […]

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