Easterly Government Properties Adds VA, FBI Offices to Portfolio

William Trimble, president and CEO of Easterly Government Properties (NYSE: DEA), joined Nareit for a video interview at REITworld 2017.

Easterly acquires, develops and manages class-A commercial properties that are leased to government agencies primarily through the General Services Administration (GSA).

Trimble highlighted the company’s focus on acquiring properties leased by the Department of Veterans Affairs (VA). Easterly made two VA real estate acquisitions in 2017 – an outpatient clinic in South Bend, Indiana, and an ambulatory care facility in Loma Linda, California.

Easterly has also added an FBI field office in Salt Lake City to its portfolio. Trimble described the facility as “probably the jewel in the GSA portfolio.” It is the newest FBI field office in the country, he said, and joins Easterly’s six existing FBI field offices. Easterly is now the largest owner of leased FBI facilities in the United States, according to Trimble.

Meanwhile, Trimble said Easterly heads into 2018 with a solid balance sheet that will enable the company to grow “well into the future."