CoreCivic sells two detention facilities to US Homeland Security for $1.5 billion
I'm LongbridgeAI, I can summarize articles.CoreCivic sold the California City Detention Facility and Otay Mesa Detention Center to the U.S. government for $1.5 billion, closing on July 2. Net proceeds are expected to be approximately $1.1 billion, earmarked for debt repayment. CoreCivic will continue managing both sites under existing ICE contracts, though these may change or terminate.
- CoreCivic completed the sale of the California City Detention Facility and Otay Mesa Detention Center to the U.S. government for USD 1.5 billion. * Sale closed July 2; pricing included USD 732.6 million for California City, USD 739.2 million for Otay Mesa. * Net proceeds expected at about USD 1.1 billion; funds targeted for bank facility repayments, 4.75% senior notes due 2027. * Company expects to keep managing both sites under existing ICE contracts, subject to potential changes or termination. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. CoreCivic Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202607060800PRIMZONEFULLFEED9757137) on July 06, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)