Key facts
- CoreCivic sold two immigrant detention facilities in California.
- The sale was made to the Department of Homeland Security.
- The total value of the sale was $1.5 billion.
- CoreCivic will continue to operate the facilities.
- Operations will continue under existing contracts.
- Contract terms are subject to renegotiation.
CoreCivic has finalized the sale of two significant immigrant detention facilities located in California to the Department of Homeland Security (DHS). The transaction is valued at $1.5 billion. Following the sale, CoreCivic will maintain operational control of these facilities. The company will continue to manage the day-to-day operations under the existing contractual agreements with the federal government. However, the terms of these ongoing contracts are subject to potential renegotiation. This sale represents a substantial financial transaction for CoreCivic and a significant change in the ownership and oversight of these critical immigration infrastructure sites within California.