HC Government Realty Trust, Inc. Announces $5 Million Acquisition of Federal Government Property in Birmingham, Alabama
~ Expands Portfolio to 21 Properties Across 11 Federal Agencies in 13 States ~
WINSTON-SALEM, NC -- HC Government Realty Trust, Inc. (“HCGRT”), a fully integrated real estate investment trust focused on the acquisition, development and management of commercial properties leased to the U.S. Government, today announced that it has completed the acquisition of its 21st Federal government property.
The Birmingham, Alabama facility is a 12,470 square foot, single-tenant property which was developed to meet the specific mission-critical requirements of the U.S. Department of Homeland Security (DHS). The property, renovated in 2019, is 100% leased under a 15-year commitment ending in November 2034. The lease is backed by the full faith and credit of the United States of America.
Steve Hale, Chairman and Chief Executive Officer of HCGRT, commented, “This impressive new construction property fit squarely in our “bullseye” of first generation, mission-critical Federal government properties in strong MSAs with a long duration lease term. We look forward to continuing to partner with government developers to grow our long-leased portfolio of properties.”
HCGRT’s strategy is to acquire and operate built-to-suit properties leased to the United States of America that fulfill mission-critical or direct citizen service functions. The Company’s real estate portfolio currently includes 21 properties representing approximately 403,000 rentable square feet across 11 different agencies located in 13 states.
For more information, please visit our corporate website at www.hcgovtrust.com.
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Released April 30, 2020