Corecivic announces the sale of 42 non-core government leased properties for $106.5 million

Brentwood, tenn., dec. 23, 2020 (globe newswire) -- corecivic, inc. (nyse: cxw) (the “company") announced today that following an extensive and ongoing marketing process for the proposed sale of certain non-core real estate assets in its corecivic properties segment, it closed on the sale of 42 of its non-core government leased properties to a third party for an aggregate purchase price of $106.5 million. the assets sold represented approximately 573,000 gross rentable square feet and are expected to generate approximate net proceeds of $27.0 million, following repayment of non-recourse mortgage notes associated with some of the properties and other transaction-related costs. net cash proceeds will be utilized to repay borrowings under the company's revolving credit facility.
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