Overview
- CoreCivic sold four detention centers in California, Minnesota and Kansas to the Department of Homeland Security over July and August 2026 for about $2.2 billion, and DHS signed contracts that let the company continue day‑to‑day operations.
- CoreCivic reported a sharp financial boost after the sales, saying cash on hand rose from roughly $109 million to about $1.1 billion and second‑quarter revenue jumped about 27 percent.
- The transactions pair real estate sales with multiyear management agreements so private firms monetize property up front while preserving long‑term operating revenue, and the GEO Group is pursuing similar deals.
- Federal procurement documents show ICE is also soliciting new beds and moving to restart idle prisons and add housing units, signaling a broader, rapid expansion of detention capacity.
- Local officials and immigrant‑rights groups warn the change in ownership will reduce municipal oversight and transparency, which could affect detainee access to care and independent monitoring as detainee populations rise.