HC Government Realty Trust Buys Two Properties
HC Government Realty Trust Inc., a Regulation A real estate investment trust that invests in federally leased properties, has purchased two properties in Columbia, South Carolina and Portland, Maine.
HC Government Realty Trust Inc., a Regulation A real estate investment trust that invests in federally leased properties, has purchased two properties in Columbia, South Carolina and Portland, Maine. The purchase price was not disclosed.
The Columbia facility is a 19,400-square-foot, single-tenant property leased to the Drug Enforcement Administration (DEA). The build-to-suit property, fully renovated in 2020, is 100 percent leased under a 15-year commitment ending in August 2035.
The Portland facility is a 15,500-square-foot, single-tenant property currently under renovation to meet the requirements of the U.S. Citizenship & Immigration Services (CIS). The property is 100 percent leased under a 15-year commitment estimated to commence in May 2021.
“These two new properties fit squarely in our ‘bullseye’ of first generation, mission-critical Federal government properties with long duration lease terms,” said Steve Hale, chairman and chief executive officer of the REIT. “We are grateful for our partnership with government developers, brokers and owners as we continue to grow our long-leased portfolio of properties.”
HC Government Realty Trust’s real estate portfolio currently includes 23 properties representing approximately 438,000 rentable square feet located in 11 states. The properties are 100 percent leased to U.S. government agencies including the Federal Bureau of Investigation, Drug Enforcement Administration, Department of Veterans Affairs, and the Social Security Administration, among others.
