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Easterly Government Properties, Inc. (DEA) reports developments for a fully integrated REIT that acquires, develops and manages Class A commercial properties leased primarily to the U.S. Government and its adjacent partners. News commonly covers quarterly operating results, Core FFO and cash available for distribution, property acquisitions, development completions, lease renewals and extensions, and portfolio lease-term metrics.
Company updates also include board-approved common dividends, financing activity such as mezzanine construction lending, investor conference participation and presentation materials. Its disclosures frame performance around a single real estate operating segment and a tenant base centered on government-related occupancy.
Easterly Government Properties, Inc. (NYSE: DEA) has completed the acquisition of a 226,148 square foot outpatient facility leased to the Department of Veterans Affairs in San Antonio, Texas. This acquisition is the largest to date in a portfolio of ten properties, all 100% leased to the VA under 20-year terms. Year-to-date, Easterly has acquired 12 properties for approximately $412.3 million, exceeding its acquisition target of $350 million. The company now owns a total of 89 properties totaling 8.6 million square feet.
Easterly Government Properties, Inc. (NYSE: DEA) announced participation in virtual investor meetings at the Jefferies 2021 Virtual Office & Industrial REIT Summit on December 15, 2021. The company focuses on acquiring, developing, and managing Class A commercial properties leased to the U.S. Government. Investors can find presentation materials on Easterly's Investor Relations website. Based in Washington, D.C., Easterly’s expertise lies in meeting the needs of mission-critical U.S. Government agencies through properties leased directly or via the U.S. General Services Administration.
Easterly Government Properties, Inc. (NYSE: DEA) has successfully acquired a 94,566 square foot outpatient facility in Chattanooga, Tennessee, leased to the Department of Veterans Affairs (VA). This acquisition is part of a previously announced portfolio of 10 properties, all fully leased to the VA under 20-year firm leases. In 2021, Easterly has acquired 11 properties for approximately $352.2 million, surpassing its $350 million acquisition target. The VA Portfolio boasts a total of 1,214,165 square feet across 10 properties, further expanding Easterly's footprint in government-leased real estate.
Easterly Government Properties, Inc. (NYSE: DEA), a real estate investment trust (REIT), announced participation in Nareit’s Virtual REITworld 2021 Investor Conference on November 9-10, 2021. The focus of Easterly is on acquiring, developing, and managing Class A commercial properties leased to the U.S. Government. Investors can access written materials related to the conference through the Company’s Investor Relations website.
For more details about Easterly’s operations and financials, visit www.easterlyreit.com.
Easterly Government Properties (NYSE: DEA) reported Q3 2021 net income of $9.0 million ($0.09/share) and FFO of $31.0 million ($0.33/share). The Company raised its quarterly cash dividend to $0.265/share and completed a public offering of 6.3 million shares expected to yield $136.3 million. They expanded credit facilities to $650.0 million, acquiring a 61,384 sq. ft. facility in Cleveland while disposing of a 105,641 sq. ft. warehouse. The Company expects to receive $177.7 million in net proceeds from unsettled shares. Year-to-date, Easterly has acquired 10 properties for $321.3 million.
Easterly Government Properties, Inc. (NYSE: DEA) has acquired an 80,000 square foot Department of Veterans Affairs (VA) Outpatient Clinic located in the Midwest. This state-of-the-art facility, completed in 2021, features a 20-year non-cancelable lease. The clinic offers various medical services and recently achieved Two Green Globes certification. Year-to-date, the company acquired 10 properties, totaling approximately $321.3 million, surpassing its 2023 target of $300 million. Easterly aims to strengthen its portfolio of important outpatient facilities serving veterans.
Easterly Government Properties, Inc. (NYSE: DEA) has declared a quarterly cash dividend of $0.265 per common share, set to be paid on November 24, 2021. Shareholders on record as of November 12, 2021 will be eligible for this dividend, reflecting the company's commitment to returning value to its investors. The company specializes in managing Class A commercial properties leased to U.S. Government agencies, ensuring stable income streams.
Easterly Government Properties, Inc. (NYSE: DEA) has acquired a 489,316 square foot facility leased to the USCIS in Kansas City, Missouri. This acquisition, part of a robust pipeline, aligns with Easterly's strategy of managing Class A properties leased to the U.S. Government. The facility, which serves as the National Benefits Center, has a long-term lease with USCIS until 2042 and could extend to January 2045. Year-to-date, Easterly has invested approximately $286.8 million in nine properties, moving closer to its $300 million target for acquisitions in 2023.
Easterly Government Properties (NYSE: DEA) announced a joint venture aimed at acquiring a 1.2 million square foot portfolio of 10 properties, fully leased to the Department of Veterans Affairs, for approximately $635.6 million. The venture will close on a rolling basis by the end of 2023, with Easterly retaining a 53% stake. The properties are designed to fulfill vital medical services for over 7.2 million veterans and are expected to receive more than $174 million in upgrades. This strategic move enhances Easterly's growth and diversifies its capital structure.
Easterly Government Properties, Inc. (NYSE:DEA) will release its third quarter 2021 financial results on November 2, 2021. A conference call is scheduled for the same day at 11:00am Eastern time to discuss performance and recent events. The call can be accessed via the Investor Relations section of their website. Playback of the call will be available for ten business days after. Easterly focuses on Class A commercial properties leased to the U.S. Government, leveraging expertise in managing mission-critical facilities.