CoreCivic sells two facilities to DHS for $734.0 million gross
CoreCivic completed the sale of its Prairie Correctional Facility in Minnesota and Midwest Regional Reception Center in Kansas to the U.S. Department of Homeland Security for an aggregate gross price of $734.0 million. The company expects net proceeds of approximately $522.5 million after about $182.2 million in federal and state income taxes and transaction costs, and plans to use them for general corporate purposes, which may include debt reduction and share repurchases. The company will still operate both facilities under existing ICE management contracts, but it provides no assurance those contracts will continue on the same terms.
Key points
- Prairie Correctional Facility (1,600 beds, Appleton, Minnesota) sold for $495.6 million; Midwest Regional Reception Center (1,033 beds, Leavenworth, Kansas) sold for $238.4 million.
- Expected net proceeds of approximately $522.5 million after estimated federal and state income taxes of approximately $182.2 million and transaction costs.
- Company expects to keep operating both facilities under existing ICE contracts, which expire in August 2031 (Prairie) and September 2027 (Midwest); ICE may terminate for non-appropriation or convenience.
- Discussions with ICE about acquiring additional facilities are at a preliminary stage, and no assurance of further sales was given.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 05, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.