CoreCivic sells Prairie Correctional Facility, Midwest Regional Reception Center to DHS for $734 million
CXW•Sale of two detention facilities
CoreCivic completed the sale of two detention facilities to the US government via the Department of Homeland Security for $734 million gross.
- Prairie Correctional Facility in Minnesota sold for $495.6 million.
- Midwest Regional Reception Center in Kansas sold for $238.4 million.
Use of proceeds and contract details
Net proceeds are expected to be about $522.5 million and are earmarked for general corporate purposes, including debt reduction or common stock repurchases.
CoreCivic expects to keep operating both sites under existing ICE management contracts, subject to revisions tied to the ownership change.
- ICE contracts run to August 2031 for Prairie.
- ICE contracts run to September 2027 for Midwest.
- Talks are underway on potential additional facility sales.
