**GEO Group to Acquire 770-Bed San Diego Detention Facility for $60M**
The GEO Group, Inc. has announced that it has entered into a purchase agreement with SDCC Middle Block, LLC, an affiliate of Holland Partners Group, to acquire the 770-bed Western Region Detention Facility in San Diego for $60 million.
Currently, GEO leases the facility for approximately $5.1 million annually and operates it under an exclusive contract with the U.S. Marshals Service. The facility has long served as a key federal detention site, offering capacity and transportation services for nearly 25 years.
The acquisition is expected to close on July 31 and will be funded through a like-kind real estate property exchange using proceeds from the previously announced sale of GEO’s Lawton Correctional Facility in Oklahoma.
George C. Zoley, Executive Chairman of GEO, commented on the deal: “The San Diego Facility has provided federal detention capacity and transportation services on behalf of the U.S. Marshals Services for approximately 25 years, and we believe it is ideally suited to provide these essential services due to its close proximity to the U.S. District Courthouse for the Southern District of California in downtown San Diego.”
This acquisition underscores GEO’s ongoing strategy to strengthen its asset portfolio in line with key federal partnerships and strategic geographic positioning.
