Private prison company sells two of California’s immigrant detention centers to the feds
CoreCivic expects about $1.1 billion in net proceeds and may keep operating the sites under Immigration and Customs Enforcement contracts.
- On July 2, CoreCivic, Inc. completed the $1.5 billion sale of its California City Detention Facility and Otay Mesa Detention Center to the U.S. Department of Homeland Security.
- Net proceeds from the sale are expected to reach approximately $1.1 billion, which CoreCivic intends to use for reducing debt and retiring $238.5 million in senior notes due in 2027.
- Under existing contracts with U.S. Immigration and Customs Enforcement, CoreCivic expects to continue managing both sites, although terms may be renegotiated due to the ownership change.
- The Otay Mesa facility has faced ongoing legal challenges regarding local health inspections, including a March lawsuit where San Diego County officials claimed inspectors were blocked under a 2024 state law.
- Patrick Swindle, CoreCivic's President and Chief Executive Officer, stated the sale provides "significant balance sheet flexibility" and positions the company to remain a long-term government partner.
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