Forest City Realty Trust Inc. announced that it has completed the sale of its military housing business to Hunt Companies Inc. for a gross price of $208.8 million or approximately $200 million after customary closing and other transaction costs. The divested business consists of fee-income streams from property management, asset management, and construction and development at family housing communities for the military including approximately 14,500 housing units across bases in Hawaii, Tennessee, Illinois, Indiana, Washington, South Carolina, Mississippi and Colorado.
We don't usually (or ever really) post about real estate deals but this one happens to be in the government space. Easterly Government Properties Inc. announced that it has acquired a 71,100 square foot Immigration and Customs Enforcement (ICE) building in Albuquerque, New Mexico. The building is leased to the General Services Administration (GSA) on behalf of ICE until 2027. Easterly Government Properties focuses on acquisition, development and management of Class A commercial properties that are leased back to the US Government.
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