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GEO Group sold three Adelanto, Calif., detention facilities to the federal government for $950 million. GEO expects to net about $705 million and raised its stock buyback authorization by $750 million. It will keep running the facilities under its ICE contract.

projectsaltbox.comDHS buys fifth private detention site since July, adding GEO's Adelanto complexGEO Group sold its Adelanto, Calif., detention complex to the federal government for $950 million. GEO will keep running it and plans to use part of the money to buy back its stock.

Project Salt Box

@projectsaltbox.com

CoreCivic sold four facilities to DHS this summer for about $2.2 billion, then entered a $500 million accelerated share repurchase less than six weeks after its first sales closed. CBRE was the broker on both companies' sales, per the purchase agreements.

5/10/26, 6:27 pm12 reposts19 likes

Timmonsdan

@timmonsdan.bsky.social

This was in the Sunday paper yesterday Stunning waste of money and doesn’t even mention the stock buyback program www.startribune.com/ramstad-ice-...

startribune.comRamstad: The maddening economics of Trump’s $496M Minnesota prisonICE’s purchase of Prairie Correctional Facility in Appleton is the biggest real estate transaction in state history.