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The GEO Group, Inc. (NYSE:GEO) ("GEO" or the "Company") announced today that on July 25, 2025, the Company completed the sale of the GEO-owned Lawton Correctional Facility (the "Lawton Facility") located in Lawton, Oklahoma to the State of Oklahoma for $312 million and simultaneously transitioned the Lawton Facility operations to the Oklahoma Department of Corrections.
As previously disclosed, GEO expects to use the net proceeds from the sale of the Lawton Facility to acquire the 770-bed Western Region Detention Facility located in San Diego, California in a like kind real estate property exchange expected to close on July 31, 2025, and to pay off additional senior secured debt, including the remaining balance of the Term Loan B outstanding under the Company's recently amended Credit Agreement. These transactions are expected to reduce GEO's total net debt to approximately $1.47 billion and position GEO to consider potential future capital returns.
Posted In: GEO
