Easterly Government Properties Inc.
DEA
Real Estate
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Easterly Government Properties is a REIT that acquires and leases Class A commercial properties exclusively to U.S. government agencies, including multiple facilities leased to Immigration and Customs Enforcement. The company actively expanded its ICE portfolio in 2024, acquiring a 49,420-square-foot facility in Orlando with a 20-year lease through August 2040 and a 135,200-square-foot ICE information technology facility near Dallas. Easterly also holds the ICE facility in Albuquerque, a build-to-suit property leased through the GSA until 2027. These facilities support immigration enforcement operations including detention processing, with features such as detention cells, crash-barrier fencing, and sally ports. ICE is a marquee tenant, and Easterly's business model is built on long-duration government leases that fund enforcement infrastructure.
Easterly Government Properties is a real estate investment trust (REIT) whose core business strategy is to acquire, develop, and lease properties to the U.S. government, with a stated focus on “mission-critical” federal tenants. According to its 2024 Annual Report, the company’s portfolio is 99.9% leased to the U.S. government, with a significant concentration of tenants from the national security and defense sectors. Key tenants include the Federal Bureau of Investigation (FBI), the Department of Homeland Security (DHS), and the Drug Enforcement Administration (DEA). The company’s specialized business model—developing and leasing properties explicitly for these defense and security agencies—constitutes a material service to the military and national security apparatus. This goes beyond incidental leasing; the company’s marketing and investment strategy is built around serving as a landlord for the physical infrastructure of the national security state.
Research Sources
4 organizations
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