New Mexico Corrections Department

The GEO Group Enters Into New Lease Agreement With the State of New Mexico at the Guadalupe County Correctional Facility

Retrieved on: 
Thursday, October 21, 2021
Public Policy, Government, Law Enforcement, Emergency Services, Other Construction & Property, Commercial Building & Real Estate, Construction & Property, Building Systems, REIT, Rehabilitation, GEO Group, State government, Contract, Justice, 8-K, GEO, Workforce, COVID-19 vaccine, Guadalupe County Correctional Facility, Policy, NYSE, Executive order, Secretary of State of New Mexico, United States Department of Justice, Maintenance, United Kingdom, COVID-19, U.S. Securities and Exchange Commission, New Mexico Corrections Department, Ownership, Legislation, Bed, Risk management

The GEO Group (NYSE: GEO) (GEO) announced today that it has entered into a new two-year lease agreement, with successive two-year renewal option periods through October 31, 2041, with the State of New Mexico at the company-owned, 600-bed Guadalupe County Correctional Facility.

Key Points: 
  • The GEO Group (NYSE: GEO) (GEO) announced today that it has entered into a new two-year lease agreement, with successive two-year renewal option periods through October 31, 2041, with the State of New Mexico at the company-owned, 600-bed Guadalupe County Correctional Facility.
  • GEO has operated the Guadalupe County Correctional Facility under a management contract with New Mexico and will transition facility operations to the New Mexico Corrections Department when the new lease agreement commences on November 1, 2021.
  • GEO will retain responsibility for facility maintenance throughout the term of the lease.
  • For the first six months ended June 30, 2021, the Guadalupe County Correctional Facility generated operating revenue of approximately $4 million.

CoreCivic Enters Into New Lease Agreement with the State of New Mexico at the Northwest New Mexico Correctional Center

Retrieved on: 
Tuesday, September 21, 2021
Government, DOJ, CoreCivic, Policy, Internet, Partnership, REIT, Trust, Employment, Solution, Justice, Use, Security (finance), Private Securities Litigation Reform Act, U.S. Securities and Exchange Commission, Privatization, United States Department of Justice, United States Marshals Service, New Mexico Corrections Department, Federation, Acquisition, Legislation, Company, Communication, Private sector, Professional, CXW, Documentation, Federal Bureau of Prisons facilities in California, Maintenance, Contract, Securities Exchange Act of 1934, Secretary of State of New Mexico, Northwest New Mexico Correctional Facility, Bed, NYSE, GLOBE, Airline, Property management, Risk management

BRENTWOOD, Tenn., Sept. 21, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it has entered into a new three-year lease agreement with the State of New Mexico at the Company's 596-bed Northwest New Mexico Correctional Center.

Key Points: 
  • BRENTWOOD, Tenn., Sept. 21, 2021 (GLOBE NEWSWIRE) -- CoreCivic, Inc. (NYSE: CXW) (the Company) announced today that it has entered into a new three-year lease agreement with the State of New Mexico at the Company's 596-bed Northwest New Mexico Correctional Center.
  • CoreCivic currently operates the Northwest New Mexico Correctional Center under a contract with New Mexico and will transition facility operations to the New Mexico Corrections Department when the new lease agreement commences on November 1, 2021.
  • The new lease agreement includes automatic extension options that could extend the term of the lease through October 31, 2041.
  • Including this new agreement, we lease five correctional facilities to five different states through our Properties segment.