WASHINGTON--(BUSINESS WIRE)--Easterly Government Properties, Inc. (NYSE: DEA) (the “Company” or “Easterly”), a fully integrated real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, announced today that it has acquired a 56,753-square foot Department of Veterans Affairs (“VA”) Denver Acquisitions and Logistics Center in Golden, Colorado (“VA - Golden”).
VA - Golden, a renovated-to-suit property was originally constructed in 1996 and fully renovated in 2011 to meet the specific design needs of the VA. The facility is leased to the VA for an initial 15-year lease, which expires in September 2026.
VA - Golden houses holistic supply chain management for the VA National Hearing Aid and Telehealth Programs and supports VA and U.S. Government agencies with professional acquisition and logistical services. VA - Golden manages the distribution of critical commodities such as hearing aids, hearing aid accessories, cochlear implants, assistive devices, batteries, prosthetic socks, orthotic soft goods, aids for the visually impaired, and telehealth messaging hubs and peripherals. VA - Golden also houses the VA’s only hearing aid repair program, which provides eligibility verification, problem diagnosis, hearing aid programming retrieval, cleaning, repairs, vendor management, and quality control.
“The team continues to execute on its acquisition strategy,” said William C. Trimble III, Easterly’s Chief Executive Officer. “VA - Golden fulfills a highly important mission within the VA, while also providing us with the means to accretively grow the Company’s total enterprise.”
The VA is a cabinet-level federal agency responsible for providing vital services to the 22 million U.S. military veterans currently living in the U.S. and an additional 25.7 million family members and dependents eligible for benefits. The VA employs nearly 350,000 people, all dedicated to providing infrastructure and support to U.S. veterans and their families.
VA - Golden falls under the management of the VA’s Office of Acquisition and Logistics (OAL), which manages expenditures of more than $17 billion per annum. The VA is one of the largest procurement and supply agencies within the Federal Government and is responsible for purchasing and distributing critical supplies nationwide, including drugs, medical supplies and equipment, ADP equipment and services, and other critical patient care items.
“The team at Easterly continues to utilize its definable edge in underwriting and acquiring U.S. Government leased properties to build a portfolio of mission-critical assets which generate cash flows that are backed by the full faith and credit of the U.S. Government,” said Darrell Crate, Chairman of Easterly Government Properties, Inc. “We believe our in-place portfolio, paired with our acquisition strategy, will continue to provide investors with an attractive total return opportunity.”
About Easterly Government Properties, Inc.
Easterly Government Properties, Inc. (NYSE:DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly’s experienced management team brings specialized insight into the strategy and needs of mission-critical U.S. Government agencies for properties leased to such agencies either directly or through the U.S. General Services Administration (GSA). For further information on the company and its properties, please visit www.easterlyreit.com.
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “believe,” “expect,” “intend,” “project,” “anticipate,” “position,” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to those risks and uncertainties associated with our business described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed on March 1, 2018. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date of this release, and we undertake no obligation to update any forward-looking statement to conform the statement to actual results or changes in our expectations.