The geo group announces it has entered into a purchase agreement to acquire the 770-bed western region detention facility in san diego, california for $60 million

Boca raton, fla.--(business wire)--the geo group, inc. (nyse: geo) (“geo” or the “company”) announced today that it has entered into a purchase agreement with sdcc middle block, llc (the “seller”), an affiliate of holland partners group, to acquire the 770-bed western region detention facility located in san diego, california (the “san diego facility”) for $60 million. geo currently leases the san diego facility for approximately $5.1 million annually under a lease agreement that expires on mar.
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