Updated Jul 8, 2026
SOLDSpecial Purpose
Department Of Homeland Security Acquires Two ICE Detention Facilities From CoreCivic For $1.5 Billion
22844 Virginia Boulevard & 7488 Calzada De La Fuente
$1,500,000,000
Building Size
—
Asset Type
Special Purpose
Closing
Jul 6, 2026
About this deal
AI
The transaction involves the acquisition of two privately operated ICE detention facilities located at 22844 Virginia Boulevard, California City, and 7488 Calzada De La Fuente, San Diego, CA. The Special Purpose assets comprise a total of 4,554 beds and finalized at a sale price of $1,500,000,000.
Summary of transaction details:
- Property Type: Special Purpose
- Transaction Amount: $1,500,000,000
- Buyer: Department of Homeland Security
- Seller: Patrick D. Swindle - CoreCivic
- Market: California City & San Diego, CA
- Asset Details: 2,560-bed California City Detention Facility and 1,994-bed Otay Mesa Detention Center
- Operational Agreement: CoreCivic will continue operating both facilities under its existing contract with U.S. Immigration and Customs Enforcement.
The transaction showcases the involvement of the Department of Homeland Security as the buyer and highlights Patrick D. Swindle from CoreCivic representing the seller in this significant deal. The arrangement maintains the operative status of the facilities under CoreCivic's management.
Players
California City Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.01%
Cash-on-Cash
-0.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93