DEA - Easterly Government Properties acquires Department of VA outpatient facility

Easterly Government Properties (NYSE:DEA) acquired an 80K leased sq.foot Department of Veterans Affairs (VA) Outpatient Clinic located in the Midwest U.S. This build-to-suit outpatient clinic was completed in 2021 and the facility is leased to the VA for an initial, non-cancelable lease term of 20 years that does not expire until May 2041. "As demonstrated through our most recent VA portfolio acquisition announcement, Easterly believes in the long-term, stable cash flows generated through these brand-new VA outpatient facilities," CEO William C. Trimble, III commented. YTD, Easterly has acquired, either directly or through the previously announced JV, 10 properties for a total pro rata contractual purchase price of ~$321.3M exceeding its increased $300M acquisition volume target for the year. Pro forma for this acquisition, Easterly owns, directly or through the JV, 87 properties totaling 8.3M sq. feet.

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Easterly Government Properties acquires Department of VA outpatient facility