CoreCivic sold two California detention facilities to the United States of America, through the Department of Homeland Security, for a combined approximately $1.47 billion. On July 2, 2026, the company completed concurrent purchase and sale agreements for the 2,560-bed California City Detention Facility ($732.6 million) and the 1,994-bed Otay Mesa Detention Center in San Diego ($739.2 million). CoreCivic expects to continue managing both facilities under existing ICE contracts, though terms may be modified and future management is not assured. The transactions monetize significant detention assets and provide financial flexibility.
Agreement 1: CoreCivic Sells California City Detention Facility to U.S. Homeland Security for $732.6 Million
- Agreement type: Purchase and sale agreement for California City Detention Facility
- Counterparty: United States of America, Department of Homeland Security
- Signed / Effective: Jul 02 2026 / same
- Reason: Monetize detention assets and realize value
Agreement 2: CoreCivic Sells Otay Mesa Detention Center to U.S. Homeland Security for $739.2 Million
- Agreement type: Purchase and sale agreement for Otay Mesa Detention Center
- Counterparty: United States of America, Department of Homeland Security
- Signed / Effective: Jul 02 2026 / same
- Reason: Monetize detention assets and realize value
Original SEC Filing:
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