0000950170-24-021249 | 10-K | XBRL Viewer | Easterly Government Properties INC

Cash and Cash Equivalents

Real Estate Properties

Real estate properties comprise all tangible assets we hold for rent or development. Real property is recognized at cost less accumulated depreciation. Third party costs related to asset acquisitions are capitalized. Development, re-development and certain costs directly related to the improvement of real properties are capitalized. Maintenance and repair expenses are charged to expense as incurred.

When we acquire properties, we allocate the purchase price to numerous tangible and intangible components. Our process for determining the allocation to these components requires many estimates and assumptions, including the following: (1) determination of market land, rental, discount and capitalization rates; (2) estimation of leasing and tenant improvement costs associated with the

remaining term of acquired leases; (3) assumptions used in determining the in-place lease and if-vacant value including the rental rates, period of time that it would take to lease vacant space and estimated tenant improvement and leasing costs; and (4) allocation of the if-vacant value between land and building. A change in any of the above key assumptions can materially change not only the presentation of acquired properties in our consolidated financial statements but also our reported results of operations. The allocation to different components affects the following:

•

the amount of the purchase price allocated among different categories of assets and liabilities on our consolidated balance sheets; and the amount of costs assigned to individual properties in multiple property acquisitions;

•

where the amortization of the components appear over time in our consolidated statements of operations. Allocations to above- and below-market leases are amortized into rental revenue, whereas allocations to most of the other tangible and intangible assets are amortized into depreciation and amortization expense. As a REIT, this is important to us since much of the investment community evaluates our operating performance using non-GAAP measures such as Funds From Operations, the computation of which includes rental revenue but does not include depreciation and amortization expense; and

•

the timing over which the items are recognized as revenue or expense in our consolidated statements of operations. For example, for allocations to the as-if vacant value, the land portion is not depreciated and the building portion is depreciated over a longer period of time than the other components (generally 40 years). Allocations to above- and below-market leases and in-place lease value are amortized over significantly shorter time frames, and if individual tenants’ leases are terminated early, any unamortized amounts remaining associated with those tenants are written off upon termination. These differences in timing can materially affect our reported results of operations.

Tenant improvements are capitalized in real property when we own the improvement. When we are required to provide improvements under the terms of a lease, we determine whether the improvements constitute landlord assets or tenant assets. If the improvements are considered landlord assets, we capitalize the cost of the improvements and recognize depreciation expense associated with such improvements generally over the shorter of the useful life of the assets or the term of the lease and recognize any payments from the tenant as rental revenue over the term of the lease. If the improvements are considered tenant assets, we defer the cost of improvements funded by us as a lease incentive asset and amortize it as a reduction of rental revenue over the term of the lease. Our determination of whether improvements are landlord assets or tenant assets also may affect when we commence revenue recognition in connection with a lease. In determining whether improvements constitute landlord or tenant assets, we consider numerous factors including: whether the improvements are unique to the tenant or reusable by other tenants; whether the tenant is permitted to alter or remove the improvements without our consent or without compensating us for any lost fair value; whether the ownership of the improvements remains with us or remains with the tenant at the end of the lease term; and whether the economic substance of the lease terms is properly reflected.

We capitalize pre-development costs incurred in pursuit of new development opportunities for which we currently believe future development is probable. Additionally, we capitalize interest expense, real estate taxes and direct and indirect project costs (including related compensation and other indirect costs) associated with properties, or portions thereof, undergoing construction, development and redevelopment activities. In capitalizing interest expense, if there is a specific borrowing for the property undergoing construction, development and redevelopment activities, we apply the interest rate of that borrowing to the average accumulated expenditures that do not exceed such borrowing; for the portion of expenditures exceeding any such specific borrowing, we apply our weighted average interest rate on unsecured borrowings to the expenditures. We continue to capitalize costs while construction, development or redevelopment activities are underway until the building is substantially complete and ready for its intended use, at which time rental income recognition can commence and rental operating costs, real estate taxes, insurance, and other subsequent carrying costs are expensed as incurred.

Depreciation of an asset begins when it is available for use and is calculated using the straight-line method over the estimated useful lives. Each period, depreciation is charged to expense and credited to the related accumulated depreciation account. A used asset acquired is depreciated over its estimated remaining useful life, not to exceed the life of a new asset. Range of useful lives for depreciable assets are as follows:


Category		Term
Buildings		40 years
Building improvements		5 - 40 years
Tenant improvements		Generally shorter of the remaining life of the lease or useful life
Furniture and equipment		3 - 7 years

We regularly evaluate whether events or changes in circumstances have occurred that could indicate an impairment in the value of long-lived assets. If there is an indication that the carrying value of an asset is not recoverable, we estimate the projected

undiscounted cash flows to determine whether an asset may be impaired. We determine the amount of any impairment loss by comparing the historical carrying value to estimated fair value. We estimate fair value through an evaluation of recent financial performance and projected discounted cash flows using standard industry valuation techniques. Fair value estimates are made as of a specific point in time, are subjective in nature and involve uncertainties and matters of significant judgment. In addition to consideration of impairment upon the events or changes in circumstances described above, we regularly evaluate the remaining lives of our long-lived assets. If we change our estimate of the remaining lives, we allocate the carrying value of the affected assets over their revised remaining lives. From time to time, natural disasters or other loss events may result in damage or destruction to our assets. In these instances, any loss on involuntary conversion is recognized as Depreciation and amortization in our Consolidated Statements of Operations in the period in which the damage occurred.

Cash and cash equivalents on the accompanying Consolidated Balance Sheets include all cash and liquid investments that mature three months or less from when they were purchased. Cash equivalents are reported at cost, which approximates fair value. We maintain our cash in bank accounts in amounts that may exceed federally insured limits at times. We have not experienced any losses in these accounts and believe that we are not exposed to significant credit risk because our accounts are deposited with major financial institutions.

Restricted Cash

Restricted cash on the accompanying Consolidated Balance Sheets consists of amounts escrowed for future real estate taxes, insurance, capital expenditures and debt service, as required by certain of our mortgage debt agreements or lease agreements.

Investments in Real Estate Ventures

Investment in Unconsolidated Real Estate Venture

We analyze each real estate venture to determine whether the entity should be consolidated. If it is determined that an entity is a variable interest entity (“VIE”) in which we have a variable interest, we assess whether we are the primary beneficiary of the VIE to determine whether it should be consolidated. We are not the primary beneficiary of an entity when we do not have voting control, lack the power to direct the activities that most significantly impact the entity’s economic performance or other partners have substantive participatory rights, we do not have the obligation to absorb losses or we do not have the right to receive returns from the VIE that could potentially be significant. If we determine that the entity is not a VIE, then we base our consolidation assessment on whether we have a controlling financial interest in the entity. Management uses its judgment when determining if we are the primary beneficiary of, or have a controlling financial interest in, an entity in which we have a variable interest. Factors considered in determining whether we have the power to direct the activities that most significantly impact the entity’s economic performance include voting rights, involvement in day-to-day capital and operating decisions, and the extent of our involvement in the entity.

We use the equity method of accounting for investments in unconsolidated real estate ventures when we have significant influence but do not control the entity. Under the equity method, we record our investment in "Investment in unconsolidated real estate venture" on our Consolidated Balance Sheets and our proportionate share of earnings or losses, pursuant to the terms of the joint venture agreement as these may change depending on returns, in "Income from unconsolidated real estate venture" in the accompanying Consolidated Statements of Operations. We classify distributions received from equity method investees within our Consolidated Statements of Cash Flows using the nature of distribution approach. Under this method, cash flows generated from the operations of an unconsolidated real estate venture are classified as a return on investment (cash inflow from operating activities) and cash flows from property sales, debt refinancing or sales of our investments are classified as a return of investment (cash inflow from investing activities).

We earn revenue from asset management services to our unconsolidated real estate venture. These fees are determined following the terms specific to each arrangement. We account for this revenue gross of our ownership interest in the respective real estate venture and recognize such revenue as "Asset management income" in our Consolidated Statements of Operations when earned. Our proportionate share of related expense is recognized in "Income from unconsolidated real estate venture".

We assess quarterly whether there are any indicators, including underlying property operating performance and general market conditions, that the value of our investment may be impaired. We consider an investment in a real estate venture impaired if we determine that its fair value is less than the net carrying value of the investment on an other-than-temporary basis. If our analysis indicates that there is an other-than-temporary impairment related to the investment in a particular real estate venture, the carrying value of the venture will be adjusted to an amount that reflects the estimated fair value of the investment.

Receivables and Credit Losses

Tenant accounts receivable on the accompanying Consolidated Balance Sheets includes accrued rental income and other tenant accounts receivables. We accrue rental and other tenant income earned, but not yet received, in accordance with GAAP.

Non-tenant receivables are included in Prepaid expenses and other assets on the accompanying Consolidated Balance Sheets.

We calculate an estimate of our expected credit losses on financial assets at their inception. The allowance represents the portion of the amortized cost basis that we do not expect to collect, or loss we expect to incur in the case of off-balance sheet credit exposures. Quarterly, the expected losses are re-estimated, considering any changes in risks or assumptions.

Deferred Costs

Deferred financing fees and debt issuance costs include costs incurred in obtaining debt that are capitalized and are presented as a direct deduction from the carrying amount of the associated debt liability that is not a line-of-credit arrangement on the accompanying Consolidated Balance Sheets. Deferred financing fees and debt issuance costs related to line-of-credit arrangements are presented as an asset in Prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. The deferred financing fees and debt issuance costs are amortized through interest expense over the life of the respective loans on a basis which approximates the effective interest method. Any unamortized amounts upon early repayment of debt are written off in the period of repayment as a loss on extinguishment of debt. Fully amortized deferred financing fees and debt issuance costs are removed from the books upon maturity of the underlying debt.

Deferred offering costs include certain legal, accounting and other third-party fees that are directly associated with in-process equity financings until such financings are consummated. After consummation of the equity financing, these costs are recorded as a reduction to capital. Should the equity no longer be considered probable of being consummated, the deferred offering costs would be expensed immediately as a charge to Corporate general and administrative expenses in the accompanying Consolidated Statement of Operations.

Deferred leasing commissions include commissions, compensation costs of leasing personnel for those leases which commenced prior to the adoption of Accounting Standards Codification (“ASC”) Topic 842, Leases (“ASC 842”) on January 1, 2019, and other direct and incremental costs incurred to obtain new tenant leases as well as to renew existing tenant leases and are presented in Prepaid expenses and other assets on the accompanying Consolidated Balance Sheets. Leasing commissions are capitalized and amortized over the terms of the related leases upon lease commencement using the straight-line method. If a lease terminates prior to the expiration of its initial term, any unamortized costs related to the lease are accelerated into amortization expense. Changes in leasing commissions are presented in the cash flows from operating activities section of the accompanying Consolidated Statements of Cash Flows.

Interest Rate Swaps

Our primary objective in using interest rate derivatives is to add stability to interest expense and to manage exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable- rate amounts from a counterparty in exchange for our making fixed- rate payments over the life of the agreements without exchange of the underlying notional amount. Derivatives are used to hedge the cash flows associated with interest rates on existing debt as well as future debt. We recognize derivatives as assets or liabilities on the balance sheet at fair value. We defer the effective portion of changes in fair value of the designated cash flow hedges to accumulated other comprehensive income (“AOCI”) or loss (“AOCL”) and reclassify such deferrals to interest expense as interest expense is recognized on the hedged forecasted transitions. We recognize the ineffective portion of the change in fair value of interest rate derivatives directly in interest expense. When an interest rate swap designated as a cash flow hedge no longer qualifies for hedge accounting, we recognize changes in fair value of the hedge previously deferred to AOCI or AOCL, along with any changes in fair value occurring thereafter, through earnings. We do not use interest rate derivatives for trading or speculative purposes. We manage counterparty risk by only entering into contracts with major financial institutions based upon their credit ratings and other risk factors.

We use standard market conventions and techniques such as discounted cash flow analysis, option pricing models, replacement cost and termination cost in computing the fair value of derivatives at each balance sheet date. We made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a gross basis by counterparty portfolio.

Please refer to Note 6 for more information pertaining to interest rate derivatives.

Fair Value Measurements

Accounting standards define fair value as the exit price, or the amount that would be received upon sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The standards also establish a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability developed based on market data obtained from sources independent of us. Unobservable inputs are inputs that reflect our assumptions about the factors market participants would use in valuing the asset or liability developed based upon the best information available in the circumstances. The hierarchy of these inputs is broken down into three levels: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. Categorization within the valuation hierarchy is based upon the lowest level of input that is most significant to the fair value measurement.

Recurring fair value measurements

The fair values of our interest rate swaps are determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities in such interest rates. While we determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties. We have determined that the significance of the impact of the credit valuation adjustments made to its derivative contracts, which determination was based on the fair value of each individual contract, was not significant to the overall valuation. As a result, all of our derivatives held as of December 31, 2023 and 2022 were classified as Level 2 of the fair value hierarchy.

Please refer to Note 7 for more information pertaining to fair value measurements.

Deferred Revenue

Deferred revenue consists primarily of lump sum reimbursements made by tenants to us for landlord improvements in excess of a tenant improvement allowance. Lump sum reimbursements are recorded as Deferred revenue on the Consolidated Balance Sheets and are amortized over the life of the lease through Rental income. Deferred revenue also includes rent received in advance, which is recognized within Rental income once earned.

Non-controlling Interests

Non-Controlling Interests

Non-controlling interests relate to the common units of the Operating Partnership not owned by us. Unitholders receive a distribution per unit equivalent to the dividend per share of our common stock. Pursuant to ASC 810 with respect to the accounting and reporting for non-controlling interest changes and changes in ownership interest of a subsidiary, changes in parent’s ownership interest when the parent retains controlling interest in the subsidiary should be accounted for as equity transactions. The carrying amount of the non-controlling interest shall be adjusted to reflect the change in its ownership interest in the subsidiary, with the offset to equity attributable to us.

Revenue Recognition

Rental income includes base rents paid by each tenant in accordance with its lease agreement conditions. We recognize rental income on a straight-line basis over the lease term of each lease. For acquisitions of existing buildings, we recognize rental income from leases already in place coincident with the date of property closing. Lease incentives are recorded as a deferred asset and amortized as a reduction of revenue on a straight-line basis over the respective lease term. Above- and below-market leases are amortized into rental income over the terms of the respective leases. Further, Rental income includes certain tenant reimbursement income (real estate taxes, operating expenses, utility usage, and other reimbursements), which are accrued as variable lease payments in the same periods as the related expenses are incurred in accordance with ASC 842.

Tenant reimbursement income includes revenue from tenant construction projects. When revenue and costs for such projects can be estimated with reasonable accuracy, we recognize a percentage of the total estimated revenue on a project based on the cost of services provided on the project as of a point in time relative to the total estimated costs on the project (percentage of completion method). When these criteria do not apply to a project, we recognize revenue from that project using the completed contract method. Fully reimbursed income was included within Tenant reimbursements and associated expenses were included in Property operating expenses within the Consolidated Statements of Operations.

Other income includes income on the associated tenant reimbursement construction projects, parking income and other miscellaneous income.

Asset management income includes revenue from asset management services to our unconsolidated real estate venture. The asset management fees are earned by us for managing properties owned by related parties. The asset management fees are based upon contractual rates applied to actively invested capital, with fee income recognized on a monthly basis. The fees are recognized as a single performance obligation comprised of a series of distinct services related to property operations. We believe the overall services provided by asset management activities have the same pattern of performance over the term of the agreement. We account for this revenue gross of our ownership interest in the respective real estate venture and recognize such revenue as "Asset management income" in our Consolidated Statements of Operations when earned. Our proportionate share of related expense is recognized in "Income from unconsolidated real estate venture."

Sales of Properties

We recognize gains from sales of consolidated interests in properties to non-customer third parties when we have transferred control of such interests.

Income Taxes

We believe that we have operated and have been organized in conformity with the requirements for qualification and taxation as a REIT for U.S. federal income tax purposes commencing with our taxable year ended December 31, 2015. So long as we qualify as a REIT, we generally will not be subject to U.S. federal income tax on our net income that we distribute to our stockholders. To maintain our qualification as a REIT, we are required under the Code to distribute at least 90% of our REIT taxable income (without regard to the deduction for dividends paid and excluding net capital gains) to our stockholders and meet certain other requirements. If we fail to qualify as a REIT in any taxable year, we will be subject to U.S. federal income tax on our taxable income at regular corporate rates. Even if we qualify as a REIT, we will be subject to certain U.S. federal, state and local taxes on our income and property, and on taxable income that we do not distribute to our stockholders. In addition, we may provide services that are not customarily provided by a landlord, hold properties for sale and engage in other activities (such as a management business) through Taxable REIT Subsidiaries (“TRSs”) and the income of those subsidiaries will be subject to U.S. federal income tax at regular corporate rates. For the years ended December 31, 2023, 2022 and 2021, we did not incur any material tax liability associated with any of the above.

We do not anticipate any potential expense related to uncertain tax positions as we closely monitor our REIT compliance, do not have any prohibited transactions related to property sales, and the states in which we operate do not subject us to withholding tax requirements.

For federal income tax purposes, dividends to shareholders may be characterized as ordinary income, capital gains or return of capital. The characterization of dividends paid on our common shares during each of the last three years was as follows:


	For the years ended December 31,
	2023			2022			2021
Ordinary income		40.31	%		47.48	%		54.43	%
Long-term capital gain		0.00	%		0.00	%		0.00	%
Return of capital		59.69	%		52.52	%		45.57	%

The dividends allocated to each of the above years for federal income tax purposes included dividends paid on our common shares during each of those years. We distributed all of our REIT taxable income in 2023, 2022, and 2021 and, as a result, did not incur federal income tax in those years.

Stock Based Compensation

We grant equity-based compensation awards to its officers, employees and non-employee directors in the form of restricted shares of common stock and long-term incentive plan units in the Operating Partnership (“LTIP units”). See Note 8 for further discussion of restricted shares of common stock and LTIP units. The restricted shares of common stock and LTIP units issued to officers, employees, and non-employee directors vest over a period of time as determined by our board of directors at the date of grant. We recognize compensation expense for non-vested restricted shares of common stock and LTIP units granted to officers, employees and non-employee directors on a straight-line basis over the requisite service and/or performance period based upon the fair market value of the shares on the date of grant, as adjusted for forfeitures.

Earnings Per Share of Common Stock Amount

Basic earnings per share is calculated by dividing net income available to Easterly Government Properties, Inc. by the weighted-average number of shares of common stock outstanding during the period, excluding the weighted average number of unvested restricted shares. Diluted earnings per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding during the period plus other potentially dilutive securities such as unvested restricted shares, LTIP units, and shares issuable under forward sales agreements. Unvested restricted shares and LTIP units are considered participating securities which require the use of the two-class method for the computation of basic and diluted earnings per share.

Segments

We manage our operations as a single segment for the purposes of assessing performance and making operating decisions. All revenue has been generated and all tangible assets are held in the United States.

Reclassifications

Certain prior year amounts have been reclassified to conform to the current year presentation.

Recent Accounting Pronouncements Not Yet Adopted

In October 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative (“ASU 2023-06”). ASU 2023-06 adds interim and annual disclosure requirements to GAAP at the request of the Securities and Exchange Commission (the “SEC”). The guidance in ASU 2023-06 is required to be applied prospectively and the GAAP requirements will be effective when the removal of the related SEC disclosure requirements is effective. If the SEC does not act to remove its related requirement by June 30, 2027, any related FASB amendments will be removed from the ASC and will not be effective. We do not anticipate that the adoption of ASU 2023-06 will have a material impact on the consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The standard is intended to enhance the transparency and decision usefulness of income tax disclosures through changes to the rate reconciliation and income taxes paid information. The new standard is effective for annual periods beginning after December 15, 2024. We are currently evaluating the impact of this standard on our consolidated financial statements and related disclosures.

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2023

Organization and Basis of Presentation

1. Organization and Basis of Presentation

Easterly Government Properties, Inc. (the “Company”) is a Maryland corporation that has elected to be taxed as a real estate investment trust (a “REIT”) under the Internal Revenue Code, as amended (the “Code”), commencing with its taxable year ended December 31, 2015. The operations of the Company are carried out primarily through Easterly Government Properties, LP (the “Operating Partnership”) and the wholly owned subsidiaries of the Operating Partnership. As used herein, the “Company,” “we,” “us,” or “our” refer to Easterly Government Properties, Inc. and its consolidated subsidiaries and partnerships, including the Operating Partnership, except where context otherwise requires.

We are an internally managed REIT, focused primarily on the acquisition, development, and management of Class A commercial properties that are leased to U.S. Government agencies that serve essential functions. We generate substantially all of our revenue by leasing our properties to such agencies either directly or through the U.S. General Services Administration (“GSA”). Our objective is to generate attractive risk-adjusted returns for our stockholders over the long term through dividends and capital appreciation.

We focus on acquiring, developing and managing U.S. Government-leased properties that are essential to supporting the mission of the tenant agency and strive to be a partner of choice for the U.S. Government, working closely with the tenant agency to meet its needs and objectives. We may also consider other potential opportunities to add properties to our portfolio, including acquiring properties leased to state and local governments with strong creditworthiness and other opportunities that directly or indirectly support the mission of select government agencies. As of December 31, 2023, we wholly owned 81 operating properties and nine operating properties through an unconsolidated joint venture (the “JV”) in the United States encompassing approximately 8.8 million leased square feet, including 88 operating properties that were leased primarily to U.S. Government tenant agencies, one operating property entirely leased to tenant agencies of a U.S. state government and one operating property that was entirely leased to a private tenant. As of December 31, 2023, our operating properties were 97% leased. For purposes of calculating percentage leased, we exclude from the denominator total square feet that was unleased and to which we attributed no value at the time of acquisition. In addition, we wholly owned one property under development that we expect will encompass approximately 0.2 million leased square feet upon completion. All references to square footage and asset age within the notes are unaudited.

The Operating Partnership holds substantially all of our assets and conducts substantially all our business. The Company is the sole general partner of the Operating Partnership and owned approximately 93.8% of the aggregate limited partnership interests in the Operating Partnership, which we refer to herein as common units, as of December 31, 2023. We have elected to be taxed as a REIT and believe that we have operated and have been organized in conformity with the requirements for qualification and taxation as a REIT for U.S. federal income tax purposes commencing with our taxable year ended December 31, 2015.

Principles of Consolidation

The accompanying consolidated financial statements are presented on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of the Company, including Easterly Government Properties TRS, LLC and Easterly Government Services, LLC, the Operating Partnership and its other subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.

Derivative and Hedging Activities - Schedule of Effects of Our Interest Rate Derivatives on Our Consolidated Statements of Operations and Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Unrealized gain recognized in AOCI	$ 3,811	$ 8,427	$ 1,787
Gain (loss) reclassified from AOCI into interest expense	$ 5,836	$ (1,292)	$ (5,293)

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2023	Feb. 20, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Trading Symbol	DEA
Entity Registrant Name	EASTERLY GOVERNMENT PROPERTIES, INC.
Entity Central Index Key	0001622194
Entity File Number	001-36834
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Financial Statement Error Correction [Flag]	false
ICFR Auditor Attestation Flag	true
Auditor Firm ID	238
Auditor Name	PricewaterhouseCoopers LLP
Auditor Location	Boston, Massachusetts
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		102,354,702
Entity Public Float			$ 1,349
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Documents Incorporated by Reference [Text Block]	Portions of the Proxy Statement for the Annual Stockholders’ Meeting to be filed within 120 days after the end of the registrant’s fiscal year are incorporated by reference in Part III of this Annual Report on Form 10-K.
Document Annual Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	47-2047728
Entity Address, Address Line One	2001 K Street NW
Entity Address, Address Line Two	Suite 775 North
Entity Address, City or Town	D.C.
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	20006
City Area Code	202
Local Phone Number	595-9500

Schedule III - Real Estate and Accumulated Depreciation - Carrying Amount of Real Estate Properties and Accumulated Depreciation (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Real Estate Properties

Balance at beginning of year

$ 2,606,590

$ 2,676,565

$ 2,421,874

Additions

103,630

135,914

261,347

Dispositions

(198,214)

(6,656)

Real estate impaired

7,675

Balance at ending of year

2,710,220

^[1]

2,606,590

2,676,565

Accumulated Depreciation

Balance at beginning of year

321,282

277,377

213,213

Additions

69,795

69,999

65,015

Dispositions

(23,960)

(851)

Real estate impaired

2,134

Balance at ending of year

$ 391,077

^[2],[3]

$ 321,282

$ 277,377

[1]	Excludes value of real estate intangibles.
[2]	Depreciation of real estate property is computed on a straight-line basis over the estimated useful lives of the assets. The estimated lives of our assets range from 5 to 40 years or to the term of the underlying lease
[3]	Includes asset impairments recognized, write-offs of involuntary conversions and write-offs of acquired tenant improvements upon the tenant vacating the space.

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Line Items]
Federal income tax	$ 0	$ 0	$ 0
Minimum [Member]
Accounting Policies [Line Items]
Distribution of REIT taxable income	90.00%

Derivative and Hedging Activities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Estimates reclassified from accumulated other comprehensive income (loss) increase to interest expense over the next 12 months	$ 2,100,000
Credit risk related contingent features derivatives, net fair value of derivatives in liability position	$ 0

Related Parties - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Asset Management Fees	$ 2,100	$ 1,400	$ 100
Reimbursement Cost Paid	300	100	500
Accounts payable, accrued expenses and other liabilities	80,209	67,336
Certain Entities Controlled by Chairman [Member]
Related Party Transaction [Line Items]
Reimbursable rent and office expense due to related party	800	400	300
Accounts payable, accrued expenses and other liabilities	400	100
Certain Entities Controlled by Vice Chairman [Member]
Related Party Transaction [Line Items]
Reimbursable payroll expenses interest and defeasance costs due from related party	100	100	$ 100
Reimbursements accounts receivable	$ 200	$ 400

Equity Incentive Plan - Summary of Grants (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Services
Vest Date	Dec. 31, 2023
Services \| January 4, 2021
Vest Date			Dec. 31, 2023
Units Granted			113,703
Units vested			106,963
Services \| May 19, 2021
Vest Date			May 03, 2022
Units Granted			6,647
Units vested			6,647
Services \| January 3, 2022
Vest Date		Dec. 31, 2024
Units Granted	37,392	110,906
Services \| May 11, 2022
Vest Date		May 02, 2023
Units Granted		11,238
Units vested		11,238
Services \| January 3, 2023
Vest Date	Dec. 31, 2025
Units Granted	219,859
Services \| March 2, 2023
Vest Date	Mar. 02, 2026
Units Granted	3,438
Services \| May 9, 2023
Units Granted	16,244
Operational Performance \| January 4, 2021
Performance Period End Date			Dec. 31, 2023
Vest Date	Jan. 17, 2024
Units Granted			82,108
Units Earned	91,384
Operational Performance \| January 3, 2022
Performance Period End Date		Dec. 31, 2024
Units Granted		80,160
Operational Performance \| January 3, 2023
Performance Period End Date	Dec. 31, 2025
Units Granted	127,291
TSR Performance Shares \| January 4, 2021
Performance Period End Date			Dec. 31, 2023
Units Granted			82,070
Units Earned	0
TSR Performance Shares \| January 3, 2022
Performance Period End Date		Dec. 31, 2024
Units Granted		158,535
TSR Performance Shares \| January 3, 2023
Performance Period End Date	Dec. 31, 2025
Units Granted	148,633
Long Term Incentive Plan
Units Granted	515,465	360,839	284,528

Summary of Significant Accounting Policies - Summary of Range of useful Lives For Depreciable Assets (Detail)	Dec. 31, 2023
Building [Member]
Property Plant And Equipment [Line Items]
Useful lives for depreciable assets	40 years
Building Improvements [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Useful lives for depreciable assets	5 years
Building Improvements [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Useful lives for depreciable assets	40 years
Furniture and Equipment [Member] \| Minimum [Member]
Property Plant And Equipment [Line Items]
Useful lives for depreciable assets	3 years
Furniture and Equipment [Member] \| Maximum [Member]
Property Plant And Equipment [Line Items]
Useful lives for depreciable assets	7 years

Equity Incentive Plan - Summary of Significant Assumptions Used to Value the Total Shareholder (Details) - Long Term Incentive Plan	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility		27.00%	28.00%
Dividend yield		4.80%	4.90%
Risk-free interest rate		1.00%	0.20%
Expected life	3 years	3 years	3 years
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	26.00%
Dividend yield	5.60%
Risk-free interest rate	4.20%
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility	39.00%
Dividend yield	8.50%
Risk-free interest rate	5.20%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Real Estate and Intangibles

Real Estate and Intangibles

12 Months Ended

Dec. 31, 2023

Real Estate [Abstract]

3. Real Estate and Intangibles

Acquisitions

During the year ended December 31, 2023, we acquired three operating properties in asset acquisitions, CA – Anaheim, DHS – Atlanta and JUD – Newport News, for an aggregate purchase price of $63.1 million. During the year ended December 31, 2022, we acquired three operating properties in asset acquisitions, FBI – Tampa, NARA – Broomfield and JUD – Council Bluffs, for an aggregate purchase price of $108.1 million.

We allocated the aggregate purchase price of these acquisitions based on the estimated fair values of the acquired assets and assumed liabilities as follows (amounts in thousands):



	December 31, 2023			December 31, 2022
Real estate
Land	$	8,407		$	9,795
Building		37,328			83,403
Acquired tenant improvements		4,283			5,386
Total real estate		50,018			98,584
Intangible assets
In-place leases		9,538			7,927
Acquired leasing commissions		3,919			4,453
Total intangible assets		13,457			12,380
Intangible liabilities
Below-market leases		—			(2,858	)
Total intangible liabilities		—			(2,858	)
Prepaid expenses and other assets
Contingent consideration		41			—
Accounts payable, accrued expenses and other liabilities
Contingent consideration		(388	)		—
Purchase price		63,128			108,106

No debt was assumed on acquisitions made during the years ended December 31, 2023 and 2022. The intangible assets and liabilities of the acquired operating properties have an aggregate weighted average amortization period of 10.46 years and 15.29 as of December 31, 2023 and 2022, respectively.

During the year ended December 31, 2023, we included $1.5 million of revenues and $0.4 million of net income in our Consolidated Statement of Operations related to the operating properties acquired. Additionally, we incurred $1.7 million of acquisition-related costs primarily consisting of internal costs associated with the property acquisitions.

During the year ended December 31, 2022, we included $5.3 million of revenues and $1.8 million of net income in our Consolidated Statement of Operations related to the operating properties acquired. Additionally, we incurred $1.4 million of acquisition-related costs primarily consisting of internal costs associated with the property acquisitions.

Dispositions

No operating properties were disposed of during the year ended December 31, 2023.

On October 12, 2022, we entered into a second amended purchase and sale agreement with a third party to dispose of a portfolio of ten properties totaling approximately 668,000 leased square feet (the “Disposition Portfolio Properties”). We completed the sale of nine of the Disposition Portfolio Properties on October 27, 2022, including: DHA – Aurora, HRSA – Baton Rouge, VA – Baton Rouge, FDA – College Park, MEPCOM – Jacksonville, DOE – Lakewood, ICE – Pittsburgh, OSHA – Sandy, and CBP – Sunburst. On December 28, 2022 we closed on DOI – Billings, the last of the Disposition Portfolio Properties. Net proceeds from the sale of the Disposition Portfolio Properties were approximately $202.4 million and we recognized a gain on the sale of the Disposition Portfolio Properties of approximately $13.6 million for the year ended December 31, 2022.

Consolidated Real Estate and Intangibles

Real estate and intangibles on our consolidated balance sheets consisted of the following (amounts in thousands):


	December 31, 2023			December 31, 2022
Real estate properties, net
Land	$	221,999		$	213,592
Building		2,349,846			2,266,674
Acquired tenant improvements		85,949			81,872
Construction in progress		52,426			44,452
Accumulated depreciation		(391,077	)		(321,282	)
Total Real estate properties, net	$	2,319,143		$	2,285,308
Intangible assets, net
In-place leases		280,604			273,077
Acquired leasing commissions		72,560			68,756
Above market leases		14,620			14,620
Payment in lieu of taxes		6,394			6,394
Accumulated amortization		(225,725	)		(205,565	)
Total Intangible assets, net	$	148,453		$	157,282
Intangible liabilities, net
Below market leases		(72,037	)		(72,088	)
Accumulated amortization		59,557			55,701
Total Intangible liabilities, net	$	(12,480	)	$	(16,387	)

During the third quarter of 2022, we recognized an impairment loss totaling approximately $5.5 million for its ICE – Otay property and reduced its carrying value to its estimated fair value, which declined due to changes in expected cash flows related to the tenant’s lease expiration in 2022. ICE – Otay is a 47,919 rentable square foot office building located in San Diego, California. See Note 7 for additional information.

Amortization of intangible assets within Depreciation and amortization expense was $21.1 million, $25.7 million and $25.4 million for the years ended December 31, 2023, 2022 and 2021, respectively.

The projected amortization of total intangible assets and intangible liabilities as of December 31, 2023 are as follows (amounts in thousands):


	Total
Intangible assets
2024	$	20,088
2025		17,712
2026		16,593
2027		14,666
2028		12,248
Thereafter		67,146
	$	148,453
Intangible liabilities
2024	$	(2,938	)
2025		(2,246	)
2026		(2,008	)
2027		(1,783	)
2028		(1,238	)
Thereafter		(2,267	)
	$	(12,480	)

The following table summarizes the scheduled amortization of our acquired above- and below-market lease intangibles for each of the five succeeding years as of December 31, 2023 (amounts in thousands):


	Acquired Above-Market Lease Intangibles		Acquired Below-Market Lease Intangibles
2024	$	1,129	$	(2,938	)
2025		1,097		(2,246	)
2026		1,096		(2,008	)
2027		1,096		(1,783	)
2028		725		(1,238	)

Above-market lease amortization reduces Rental income on our Consolidated Statements of Operations and below-market lease amortization increases Rental income on our Consolidated Statements of Operations. Amortization of above- and below-market lease intangibles increased Rental income by $2.7 million, $3.1 million and $4.6 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Earnings Per Share - Summary of Basic and Diluted Earnings Per Common Share (Parenthetical) (Detail) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Unvested Performance-Based Long Term Incentive Plan [Member]
Earnings Per Share Basic And Diluted [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	387,010	314,529	116,595
Underlying Unsettled Forward Sales Transactions [Member]
Earnings Per Share Basic And Diluted [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	0	4,259,000	326,000

Derivatives and Hedging Activities

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging Activities

6. Derivatives and Hedging Activities

The following table sets forth the key terms and fair values of our interest rate swap derivatives, each of which was designated as a cash flow hedge (dollars in thousands):


								Fair Value at December 31,
Notional Amount		Fixed Rate			Floating Rate Index (1)	Effective Date	Expiration Date	2023		2022
$	100,000		4.01	%	USD-SOFR with -5 Day Lookback	June 23, 2023	March 23, 2025	$	599	$	—
$	100,000		4.18	%	USD-SOFR with -5 Day Lookback	June 23, 2023	December 23, 2024	$	501	$	—
$	100,000		3.70	%	USD-SOFR with -5 Day Lookback	September 29, 2023	June 29, 2025	$	894	$	—
$	100,000		1.37	%	One-Month SOFR	November 29, 2022	September 29, 2023	$	—	$	2,530
$	150,000		2.58	%	One-Month SOFR	December 23, 2022	June 19, 2023	$	—	$	1,490

(1)

In December 2022, we entered into bilateral agreements with our swap counterparties to transition our interest rate swap agreements from LIBOR to SOFR. We made various ASC 848 elections related to changes in critical terms of the hedging relationships due to reference rate reform to not result in a dedesignation of these hedging relationships.

The table below sets forth the fair value of our interest rate derivatives as well as their classification on our Consolidated Balance Sheets (dollars in thousands):


	Fair Value at December 31,
Balance Sheet Line Item	2023		2022
Interest rate swaps-Asset	$	1,994	$	4,020

Cash Flow Hedges of Interest Rate Risk

The gains or losses on derivatives designated and that qualify as cash flow hedges is recorded in AOCI and will be reclassified to interest expense in the period that the hedged forecasted transactions affect earnings on our variable rate debt.

Amounts reported in AOCI related to derivatives designated as qualifying cash flow hedges will be reclassified to interest expense as interest payments are made on our variable rate debt. We estimate that $2.1 million will be reclassified from AOCI as a decrease to interest expense over the next 12 months.

The table below presents the effects of our interest rate derivatives on our Consolidated Statements of Operations and Comprehensive Income (Loss) (dollars in thousands):


	For the years ended December 31,
	2023		2022			2021
Unrealized gain recognized in AOCI	$	3,811	$	8,427		$	1,787
Gain (loss) reclassified from AOCI into interest expense		5,836		(1,292	)		(5,293	)

Credit-Risk Related Contingent Features

We have agreements with each of its derivative counterparties that contain a provision where we could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to our default on such indebtedness. As of December 31, 2023, we were not in a net liability position with any derivative counterparty. As of December 31, 2023, we were in compliance with these agreements and had not posted any collateral related to these agreements.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On September 14, 2023, William C. Trimble, III, who served as our Chief Executive Officer and President through December 31, 2023, entered into a pre-arranged trading plan (the “10b5-1 plan”) for the sale of up to 120,000 shares of our common stock between December 14, 2023 and December 14, 2024 that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. On December 8, 2023, Mr. Trimble terminated the 10b5-1 plan in connection with his pending retirement. No shares were sold under the 10b5-1 plan prior to its termination.
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Aggregate Available	120,000
William C. Trimble, III [Member]
Trading Arrangements, by Individual
Name	William C. Trimble, III
Title	Chief Executive Officer and President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	September 14, 2023
Rule 10b5-1 Arrangement Terminated	true
Termination Date	December 8, 2023
Aggregate Available	0
Directors or Officers [Member]
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false

Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

3. Commitments and Contingencies

a) Environmental

As an owner of real estate, we are subject to various environmental laws of federal, state, and local governments. Our compliance with existing laws has not had a material adverse effect on its financial condition and results of operations, and we do not believe it will have a material adverse effect in the future. However, we cannot predict the impact of unforeseen environmental contingencies or new or changed laws or regulations on its current properties or on properties that we may acquire.

b) Tax Protection Agreements

Concurrent with the completion of our initial public offering and the related formation transactions, we also entered into a tax protection agreement with Michael P. Ibe, a director and our Vice Chairman and Executive Vice President — Development and Acquisitions, under which we agreed to indemnify Mr. Ibe for any taxes incurred as a result of a taxable sale of the properties contributed by certain entities beneficially owned by Mr. Ibe in the formation transactions for a period of eight years after the closing of the initial public offering and the formation transactions. We also agreed in the tax protection agreement with Mr. Ibe to use the “traditional method” of making allocations under Section 704(c) of the Code for the eight-year period.

In connection with our acquisitions of certain properties in 2021 and 2022 we entered into a tax protection agreement, under which we agreed to indemnify the contributor for any taxes incurred as a result of a taxable sale of such property for a period of four years. We also agreed in the tax protection agreement with the contributor to use the “traditional method” of making allocations under Section 704(c) of the Code for the four-year period.

Letters of Credit

As of each of December 31, 2023 and 2022, we had $0.1 million of standby letters of credit. There were no draws against these letters of credit during the years ended December 31, 2023 or 2022.

Debt - Additional Information (Detail)

12 Months Ended

Jan. 23, 2024

Jan. 02, 2024

Jul. 20, 2023

USD ($)

May 30, 2023

Feb. 03, 2023

USD ($)

Swap

Jan. 26, 2023

USD ($)

Nov. 29, 2022

Nov. 23, 2022

Oct. 27, 2022

USD ($)

Jul. 22, 2022

Dec. 31, 2023

USD ($)

Swap

Dec. 31, 2022

USD ($)

Dec. 31, 2021

USD ($)

Jul. 23, 2021

USD ($)

Net carrying value of real estate collateralizing the mortgage

$ 325,900,000

$ 356,800,000

1,299,597,000

0.10%

Proceeds from sale of disposition portfolio properties

20,002,000

10,899,000

$ 4,233,000

$ 5,800,000

Interest Rate Swaps [Member]

Forward swaps effective date

$ 100,000,000

$ 200,000,000

Jun. 30, 2023

Debt Instrument, Maturity Date, Description

The third swap, with a notional value of $100.0 million, became effective in September 2023. For more information on our interest rate swaps, see Note 6 to the Consolidated Financial Statements.

Subsequent Event [Member]

50,000,000

Initial maturity date

Mar. 29, 2024

Margin spread percentage

0.01%

LIBOR [Member]

4.39%

SOFR [Member]

$ 100,000,000

Revolving Credit Facility [Member]

5.31%

Senior unsecured notes, Maturity date

^[1],[2]

2025-07

^[1],[2]

2025-07

Debt instrument, Term

4 years

Line of Credit Facility, Description

50,000,000

$ 370,900,000

revolving credit facility has two six-month as-of-right extension options subject to certain conditions and the payment of an extension fee.

Revolving Credit Facility [Member] | Interest Rate Swaps [Member]

Forward swaps effective date

Sep. 29, 2023

Revolving Credit Facility [Member] | Maximum [Member]

Revolving Credit Facility [Member] | Maximum [Member] | SOFR [Member]

0.80%

Revolving Credit Facility [Member] | Minimum [Member]

1.80%

Revolving Credit Facility [Member] | Minimum [Member] | SOFR [Member]

0.20%

MEPCOM Jacksonville [Member]

1.20%

$ 5,800,000

DEA Pleasanton [Member]

Second Amended Purchase and Sale Agreement [Member]

$ 15,700,000

Cash

$ 15,700,000

Proceeds from sale of disposition portfolio properties

13,600,000

2018 Term Loan Facility [Member]

Senior unsecured notes, Interest rate

$ 200,000,000

$ 150,000,000

^[3],[4]

5.39%

Senior unsecured notes, Maturity date

2026-07

2026-07

Debt instrument, Term

5 years

2018 Term Loan Facility [Member] | Interest Rate Swaps [Member]

50,000,000

Forward swaps effective date

Jun. 23, 2023

2018 Term Loan Facility [Member] | Maximum [Member]

Increasing term loan facility commitments

200,000,000

2018 Term Loan Facility [Member] | Maximum [Member] | SOFR [Member]

0.70%

2018 Term Loan Facility [Member] | Minimum [Member]

1.70%

Increasing term loan facility commitments

$ 150,000,000

2018 Term Loan Facility [Member] | Minimum [Member] | SOFR [Member]

0.20%

2018 Term Loan Facility [Member] | Revolving Credit Facility [Member]

1.20%

Federal Funds Effective Rate Plus

$ 50,000,000.0

Initial maturity date

Jul. 22, 2022

0.50%

Eurodollar Rate Plus

2016 Term Loan Facility [Member]

1.00%

Senior unsecured notes, Interest rate

$ 100,000,000

^[3],[5]

5.05%

Senior unsecured notes, Maturity date

^[6]

2024-03

^[6]

2024-03

2016 Term Loan Facility [Member] | Interest Rate Swaps [Member]

0.10%

2016 Term Loan Facility [Member] | Subsequent Event [Member]

$ 100,000,000

Senior Unsecured Notes | Revolving Credit Facility [Member]

Extended maturity date

Jan. 30, 2025

Senior Unsecured Notes | Second Amendment

450,000,000

Increase in borrowing capacity

$ 650,000

50,000,000

Senior Unsecured Notes | Second Amendment | Maximum [Member]

Increase in borrowing capacity

50,000

Senior Unsecured Notes | Second Amendment | Revolving Credit Facility [Member]

Increase in borrowing capacity

450,000

250,000,000

Senior Unsecured Notes | 2018 Term Loan Facility [Member]

Senior Unsecured Notes | 2018 Term Loan Facility [Member] | Second Amendment

200,000,000

Senior Unsecured Notes | 2016 Term Loan Facility [Member]

200,000,000

Senior Unsecured Credit Facility

$ 100,000,000

Senior Unsecured Credit Facility | Revolving Credit Facility [Member]

0.10%

Line of Credit Facility, Description

Our revolving credit facility has an initial four-year term and will mature in July 2025, with two six-month as-of-right extension options, subject to certain conditions and the payment of an extension fee.

Senior Unsecured Credit Facility | Second Amendment

Increase decrease of effective interest rate margin percentage

0.01%

Senior Unsecured Credit Facility | 2016 Term Loan Facility [Member]

First Amendment [Member] | 2018 Term Loan Facility [Member] | Revolving Credit Facility [Member]

$ 100,000,000

Revenue from Contract with Customer [Abstract]

Extended maturity date

Jul. 24, 2023

[1]	Our revolving credit facility has two six-month as-of-right extension options subject to certain conditions and the payment of an extension fee.
[2]	Our revolving credit facility had available capacity of $370.9 million at December 31, 2023, with an accordion feature that permits us to request additional lender commitments for up to $250.0 million of additional capacity, subject to the satisfaction of customary terms and conditions.
[3]	At December 31, 2023, the USD SOFR with a five day lookback (“S”) was 5.31%. At December 31, 2022, the one-moth LIBOR ("L") was 4.39%. The current interest rate is not adjusted to include the amortization of deferred financing fees or debt issuance costs incurred in obtaining debt or any unamortized fair market value premiums. The spread over the applicable rate for each of our $450.0 million senior unsecured revolving credit facility (our “revolving credit facility”), our $200.0 million senior unsecured term loan facility (as amended, our “2018 term loan facility”) and our $100.0 million senior unsecured term loan facility (our “2016 term loan facility”) is based on our consolidated leverage ratio, as set forth in the respective loan agreements.
[4]	Entered into two interest rate swaps with an effective date of June 23, 2023 with an aggregate notional value of $200.0 million to effectively fix the interest rate at 5.39% annually, based on our consolidated leverage ratio, as defined in our 2018 term loan facility agreement.
[5]	Entered into one interest rate swap with an effective date of September 29, 2023 with a notional value of $100.0 million to effectively fix the interest rate at 5.05% annually, based on our consolidated leverage ratio, as defined in our 2016 term loan facility agreement.
[6]	On January 23, 2024, we entered into the seventh amendment to the 2016 term loan facility to extend the maturity date of the loan agreement to January 30, 2025.

Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Revenue from Tenant Construction Projects Disaggregated by Tenant Agency

The table below sets forth revenue from tenant construction projects disaggregated by tenant agency for the years ended December 31, 2023, 2022, and 2021 (amounts in thousands).


	For the year ended December 31,		For the year ended December 31,		For the year ended December 31,
Tenant	2023		2022		2021
Department of Veteran Affairs (“VA”)	$	5,702	$	2,373	$	1,660
U.S. Joint Staff Command (“JSC”)		2,132		948		520
Federal Bureau of Investigation (“FBI”)		792		1,307		2,384
U.S. Coast Guard (“USCG”)		346		182		98
Customs and Border Protection (“CBP”)		293		157		—
The Judiciary of the U.S. Government (“JUD”)		163		391		11
Department of Transportation (“DOT”)		142		—		49
Immigration and Customs Enforcement (“ICE”)		111		7		57
Federal Emergency Management Agency (“FEMA”)		89		318		15
U.S. Citizenship and Immigration Services (“USCIS”)		56		250		91
Food and Drug Administration (“FDA”)		45		346		93
General Services Administration - Other		39		42		25
Internal Revenue Service (“IRS”)		20		37		207
Bonneville Power Administration (“BPA”)		16		—		—
National Archives and Records Administration (“NARA”)		13		—		—
Department of Labor (“DOL”)		3		—		—
Occupational Safety and Health Administration (“OSHA”)		—		116		1
National Park Service (“NPS”)		—		110		41
Drug Enforcement Administration (“DEA”)		—		40		40
Federal Aviation Administration (“FAA”)		—		29		—
Patent and Trademark Office (“PTO”)		—		14		—
Health Resources and Services Administration (“HRSA”)		—		4		3
National Weather Service (“NWS”)		—		2		—
Bureau of the Fiscal Service (“BFS”)		—		—		59
Department of Energy (“DOE”)		—		—		95
Environmental Protection Agency (“EPA”)		—		—		204
Military Entrance Processing Command (“MEPCOM”)		—		—		18
	$	9,962	$	6,673	$	5,671

Equity Incentive Plan - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stockholders Equity Note Disclosure [Line Items]
Common Stock, shares authorized	200,000,000	200,000,000
Corporate general and administrative	$ 27,118	$ 24,785	$ 23,522
Compensation expense recognized	1,300
Severance payment	400
Restricted Stock
Stockholders Equity Note Disclosure [Line Items]
Fair value of restricted stock,vested	400	1,300	900
Unamortized restricted stock expense	$ 200
Weighted average period	9 months 18 days
Long Term Incentive Plan
Stockholders Equity Note Disclosure [Line Items]
Compensation expense recognized	$ 5,200	5,900	4,200
Fair value of restricted stock,vested	6,900	5,500	4,500
Unamortized restricted stock expense	$ 4,800
Weighted average period	1 year 6 months
Recapture of compensation costs	$ 800
Service long term incentive plan
Stockholders Equity Note Disclosure [Line Items]
Compensation expense recognized	400
Operational long term incentive plan \| Maximum [Member]
Stockholders Equity Note Disclosure [Line Items]
Compensation expense recognized	$ 100
2015 Equity Incentive Plan [Member] \| Restricted Stock
Stockholders Equity Note Disclosure [Line Items]
Common Stock, shares authorized	5,273,959
Share available for issuance under equity incentive plan	836,574
Compensation expense recognized	$ 600	$ 600	$ 800

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 21,060	$ 35,562	$ 33,957
Other comprehensive gain (loss):
Unrealized gain (loss) on interest rate swaps, net	(2,025)	9,719	7,080
Other comprehensive gain (loss):	(2,025)	9,719	7,080
Comprehensive income	19,035	45,281	41,037
Non-controlling interest in Operating Partnership	(2,256)	(4,088)	(3,899)
Other comprehensive (gain) loss attributable to non-controlling interest	350	(1,101)	(801)
Comprehensive income attributable to Easterly Government Properties, Inc.	$ 17,129	$ 40,092	$ 36,337

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

Amount of Net Income (Loss) attributable to noncontrolling interest.

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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Schedule of Aggregate Debt Maturities

Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Summary of Borrowings

At December 31, 2023 and December 31, 2022 (dollars in thousands):


	Principal Outstanding						Interest	Current
Loan	December 31, 2023			December 31, 2022			Rate (1)	Maturity
Revolving credit facility:
Revolving credit facility (2)	$	79,000		$	65,500		S + 135bps	July 2025 (3)
Total revolving credit facility		79,000			65,500

Term loan facilities:
2016 term loan facility		100,000			100,000		5.05% (4)	March 2024 (5)
2018 term loan facility		200,000			150,000		5.39% (6)	July 2026
Total term loan facilities		300,000			250,000
Less: Total unamortized deferred financing fees		(892	)		(1,028	)
Total term loan facilities, net		299,108			248,972

Notes payable:
2017 series A senior notes		95,000			95,000		4.05%	May 2027
2017 series B senior notes		50,000			50,000		4.15%	May 2029
2017 series C senior notes		30,000			30,000		4.30%	May 2032
2019 series A senior notes		85,000			85,000		3.73%	September 2029
2019 series B senior notes		100,000			100,000		3.83%	September 2031
2019 series C senior notes		90,000			90,000		3.98%	September 2034
2021 series A senior notes		50,000			50,000		2.62%	October 2028
2021 series B senior notes		200,000			200,000		2.89%	October 2030
Total notes payable		700,000			700,000
Less: Total unamortized deferred financing fees		(3,468	)		(3,948	)
Total notes payable, net		696,532			696,052

Mortgage notes payable:
DEA – Pleasanton		—			15,700		L + 150bps (7)	(7)
VA – Golden		8,447			8,644		5.00% (8)	April 2024
USFS II – Albuquerque		11,603			13,438		4.46% (8)	July 2026
ICE – Charleston		11,998			13,441		4.21% (8)	January 2027
VA – Loma Linda		127,500			127,500		3.59% (8)	July 2027
CBP – Savannah		9,549			10,389		3.40% (8)	July 2033
USCIS - Kansas City		51,500			51,500		3.68% (8)	August 2024
Total mortgage notes payable		220,597			240,612
Less: Total unamortized deferred financing fees		(944	)		(1,405	)
Less: Total unamortized premium/discount		542			1,640
Total mortgage notes payable, net		220,195			240,847

Total debt	$	1,294,835		$	1,251,371

(1)

At December 31, 2023, the USD SOFR with a five day lookback (“S”) was 5.31%. At December 31, 2022, the one-moth LIBOR ("L") was 4.39%. The current interest rate is not adjusted to include the amortization of deferred financing fees or debt issuance costs incurred in obtaining debt or any unamortized fair market value premiums. The spread over the applicable rate for each of our $450.0 million senior unsecured revolving credit facility (our “revolving credit facility”), our $200.0 million senior unsecured term loan facility (as amended, our “2018 term loan facility”) and our $100.0 million senior unsecured term loan facility (our “2016 term loan facility”) is based on our consolidated leverage ratio, as set forth in the respective loan agreements.

(2)

Our revolving credit facility had available capacity of $370.9 million at December 31, 2023, with an accordion feature that permits us to request additional lender commitments for up to $250.0 million of additional capacity, subject to the satisfaction of customary terms and conditions.

(3)

Our revolving credit facility has two six-month as-of-right extension options subject to certain conditions and the payment of an extension fee.

(4)

Entered into one interest rate swap with an effective date of September 29, 2023 with a notional value of $100.0 million to effectively fix the interest rate at 5.05% annually, based on our consolidated leverage ratio, as defined in our 2016 term loan facility agreement.

(5)

On January 23, 2024, we entered into the seventh amendment to the 2016 term loan facility to extend the maturity date of the loan agreement to January 30, 2025.

(6)

Entered into two interest rate swaps with an effective date of June 23, 2023 with an aggregate notional value of $200.0 million to effectively fix the interest rate at 5.39% annually, based on our consolidated leverage ratio, as defined in our 2018 term loan facility agreement.

(7)

On January 26, 2023, we used $15.7 million of available cash to extinguish the $15.7 million mortgage note obligation on DEA – Pleasanton.

(8)

Effective interest rates are as follows: VA – Golden 5.03%, USFS II – Albuquerque 3.92%, ICE – Charleston 3.93%, VA – Loma Linda 3.78%, CBP – Savannah 4.12%, USCIS – Kansas City 2.05%.

aggregate debt maturities based on outstanding principal as of December 31, 2023 are as follows (dollars in thousands):


	Total
2024	$	164,298
2025		83,598
2026		210,054
2027		230,733
2028		50,983
Thereafter		559,931
		1,299,597
Unamortized premium/discount & deferred financing		(4,762	)
	$	1,294,835

Organization and Basis of Presentation - Additional Information (Detail) ft² in Millions	12 Months Ended
	Dec. 31, 2023 ft² Property
Easterly Government Properties LP [Member]
Organization And Significant Accounting Policies [Line Items]
Outstanding common units of aggregate limited partnership interest owned percentage	93.80%
Joint Venture [Member]
Organization And Significant Accounting Policies [Line Items]
Number of properties	9
Wholly Owned Operating Properties [Member]
Organization And Significant Accounting Policies [Line Items]
Number of properties	81
Leased percentage of operating properties	97.00%
Aggregate area of land \| ft²	8.8
Wholly Owned Operating Properties [Member] \| Government [Member]
Organization And Significant Accounting Policies [Line Items]
Number of properties	88
Wholly Owned Operating Properties [Member] \| Private Tenants [Member]
Organization And Significant Accounting Policies [Line Items]
Number of properties	1
Wholly Owned Properties Under Development [Member]
Organization And Significant Accounting Policies [Line Items]
Number of properties	1
Aggregate area of land \| ft²	0.2

Leases - Summary of Information about Leases for Development Properties (Detail) - Development Properties [Member]	Dec. 31, 2023 ft²
Operating Leased Assets [Line Items]
Estimated Leased Square Feet	162,000
Food And Drug Administration ("FDA") [Member] \| Atlanta [Member] \| GA [Member] \| Aberdeen [Member]
Operating Leased Assets [Line Items]
Lessor, operating lease, term of contract	20 years
Estimated Leased Square Feet	162,000

Real Estate and Intangibles - Summary of Scheduled Amortization Market Lease Intangibles (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Acquired Above-Market Lease Intangibles
2024	$ 1,129
2025	1,097
2026	1,096
2027	1,096
2028	725
Acquired Below-Market Lease Intangibles
2024	(2,938)
2025	(2,246)
2026	(2,008)
2027	(1,783)
2028	$ (1,238)

Earnings Per Share - Summary of Basic and Diluted Earnings Per Common Share (Detail) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Earnings Per Share Basic And Diluted [Line Items]

Net income

$ 21,060

$ 35,562

$ 33,957

Less: Non-controlling interest in Operating Partnership

(2,256)

(4,088)

(3,899)

Net income available to Easterly Government Properties, Inc.

18,804

31,474

30,058

Less: Dividends on participating securities

(599)

(546)

(470)

Net income available to common stockholders

$ 18,205

$ 30,928

$ 29,588

Denominator for basic EPS

94,264,166

90,613,966

84,043,012

Denominator for diluted EPS

94,556,055

90,948,701

84,619,390

Basic EPS

$ 0.19

$ 0.34

$ 0.35

Diluted EPS

$ 0.19

$ 0.34

$ 0.35

Stock Compensation Plan [Member]

Earnings Per Share Basic And Diluted [Line Items]

Dilutive effect

18,128

19,336

52,500

Long Term Incentive Plan

Earnings Per Share Basic And Diluted [Line Items]

Dilutive effect

^[1]

269,685

315,399

434,631

Forward Sales Agreements [Member]

Earnings Per Share Basic And Diluted [Line Items]

Dilutive effect

^[2]

4,076

89,247

[1]

During the years ended December 31, 2023, 2022 and 2021, there were approximately 387,010, 314,529 and 116,595 unvested performance-based LTIP units, respectively, that were not included in the computation of diluted earnings per share because to do so would have been antidilutive for the period.

[2]

During the year ended December 31, 2023, there were no shares of underlying unsettled forward sales transactions that were included in the computation of diluted earnings per share because to do so would have been antidilutive for the period. During the years ended December 31, 2022 and 2021, there were approximately 4,259,000 and 326,000 shares, respectively, of underlying unsettled forward sales transactions that were not included in the computation of diluted earnings per share because to do so would have been antidilutive for the period.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net income	$ 21,060	$ 35,562	$ 33,957
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	91,292	98,254	91,266
Straight line rent	(3,897)	(410)	(4,417)
Income from unconsolidated real estate venture	(5,498)	(3,374)	(271)
Amortization of above- / below-market leases	(2,730)	(3,105)	(4,589)
Amortization of unearned revenue	(6,249)	(5,797)	(5,616)
Amortization of loan premium / discount	(1,098)	(1,122)	(290)
Amortization of deferred financing costs	2,122	2,056	1,659
Amortization of lease inducements	942	856	864
Gain on the sale of operating properties		(13,590)	(1,307)
Impairment loss		5,540
Distributions from investment in unconsolidated real estate venture	10,232	6,434
Non-cash compensation	5,747	6,536	5,050
Other			74
Net change in:
Tenant accounts receivable	(3,173)	(126)	(8,675)
Prepaid expenses and other assets	(5,562)	(2,829)	(3,123)
Deferred revenue associated with operating leases	5,652	1,973	557
Principal payments on operating lease obligations	(497)	(599)	(352)
Accounts payable, accrued expenses and other liabilities	6,136	(318)	13,557
Net cash provided by operating activities	114,479	125,941	118,344
Cash flows from investing activities
Real estate acquisitions and deposits	(63,412)	(93,737)	(214,674)
Additions to operating properties	(28,143)	(22,568)	(17,919)
Additions to development properties	(17,820)	(12,350)	(6,217)
Proceeds from sale of operating properties, net		202,416	7,336
Distributions from investment in unconsolidated real estate venture	103	983
Investment in unconsolidated real estate venture	(17,736)	(143,847)	(131,568)
Net cash used in investing activities	(127,008)	(69,103)	(363,042)
Cash flows from financing activities
Payment of deferred financing costs			(5,306)
Issuance of common shares	86,472	9,504	175,929
Credit facility draws	198,250	230,750	466,250
Credit facility repayments	(184,750)	(179,750)	(531,000)
Term loan draws	50,000
Issuance of notes payable			250,000
Repayments of mortgage notes payable	(20,002)	(10,899)	(4,233)
Dividends and distributions paid	(112,379)	(109,176)	(99,994)
Payment of offering costs	(397)	(136)	(1,474)
Net cash provided by (used in) financing activities	17,194	(59,707)	250,172
Net increase (decrease) in Cash and cash equivalents and Restricted cash	4,665	(2,869)	5,474
Cash and cash equivalents and Restricted cash, beginning of year	17,274	20,143	14,669
Cash and cash equivalents and Restricted cash, end of year	21,939	17,274	20,143
Supplemental disclosure of cash flow information is as follows (amounts in thousands):
Cash paid for interest, net of capitalized interest	47,530	40,207	35,478
Capitalized interest	1,483	1,220	951
Non-cash investing and financing activities:
Offering costs, accrued not paid	16		29
Unrealized gain (loss) on interest rate swaps, net	(2,025)	9,719	7,080
Mortgage notes assumed on acquisition of operating property			53,816
Properties acquired for common units	219	17,361	20,791
Contingent consideration accrued, not received	41	125
Recognition of operating lease right-of-use assets		2,445	1,677
Recognition of liabilities related to operating lease right-of-use assets		2,445	1,677
Derecognition of operating lease right-of-use assets		689	74
Derecognition of liabilities related to operating lease right-of-use assets			74
Exchange of Common Units for Shares of Common Stock
Non-controlling interest in Operating Partnership	(78,400)	(2,911)	(4,830)
Common stock	59	2	3
Additional paid-in capital	78,341	2,909	4,827
Operating Properties [Member]
Non-cash investing and financing activities:
Additions to properties accrued, not paid	8,518	4,859	3,634
Development Properties [Member]
Non-cash investing and financing activities:
Additions to properties accrued, not paid	$ 7,672	$ 4,135	$ 1,222

Debt - Summary of Borrowings (Parenthetical) (Detail)							12 Months Ended
Debt - Summary of Borrowings (Parenthetical) (Detail)	Jan. 23, 2024	May 30, 2023	Feb. 03, 2023 USD ($) Swap	Jan. 26, 2023 USD ($)	Nov. 29, 2022	Oct. 27, 2022 USD ($)	Dec. 31, 2023 USD ($) Swap	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jul. 20, 2023 USD ($)
Debt Instrument [Line Items]
Loan, interest rate		0.10%
Loan, Principal Outstanding							$ 1,299,597,000
Mortgage note obligation							20,002,000	$ 10,899,000	$ 4,233,000
MEPCOM Jacksonville [Member]
Debt Instrument [Line Items]
Mortgage note obligation						$ 5,800,000
DEA Pleasanton [Member]
Debt Instrument [Line Items]
Cash				$ 15,700,000
Mortgage note obligation				$ 15,700,000
Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Amount available under revolving credit facility										$ 50,000,000
Number of forward interest rate swaps \| Swap			2
Forward swaps effective date			Jun. 30, 2023
Aggregate notional value of interest rate swaps			$ 200,000,000				200,000,000			100,000,000
2018 Term Loan Facility [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding							$ 200,000,000	150,000,000
Amount available under revolving credit facility										50,000,000
2018 Term Loan Facility [Member] \| Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Number of forward interest rate swaps \| Swap							2
Forward swaps effective date							Jun. 23, 2023
Forward swaps interest rate							5.39%
2016 Term Loan Facility [Member]
Debt Instrument [Line Items]
Loan, interest rate					0.10%
Loan, Principal Outstanding							$ 100,000,000	100,000,000
2016 Term Loan Facility [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Extended maturity date	Jan. 30, 2025
2016 Term Loan Facility [Member] \| Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Aggregate notional value of interest rate swaps							$ 100,000,000
Forward swaps interest rate							5.05%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amount available under revolving credit facility							$ 370,900,000			$ 50,000,000
Credit facility additional maximum borrowing capacity							$ 250,000,000
Line of Credit Facility, Description							revolving credit facility has two six-month as-of-right extension options subject to certain conditions and the payment of an extension fee.
Revolving Credit Facility [Member] \| Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Number of forward interest rate swaps \| Swap							1
Forward swaps effective date							Sep. 29, 2023
Revolving Credit Facility [Member] \| 2018 Term Loan Facility [Member]
Debt Instrument [Line Items]
Amount available under revolving credit facility							$ 50,000,000.0
Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding							220,597,000	240,612,000
Mortgage Notes Payable [Member] \| CBP Savannah [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding							$ 9,549,000	10,389,000
Effective interest rate							4.12%
Mortgage Notes Payable [Member] \| ICE Charleston [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding							$ 11,998,000	13,441,000
Effective interest rate							3.93%
Mortgage Notes Payable [Member] \| USFS II Albuquerque [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding							$ 11,603,000	13,438,000
Effective interest rate							3.92%
Mortgage Notes Payable [Member] \| DEA Pleasanton [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding								15,700,000
Mortgage Notes Payable [Member] \| VA Loma Linda [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding							$ 127,500,000	127,500,000
Effective interest rate							3.78%
Mortgage Notes Payable [Member] \| VA Golden [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding							$ 8,447,000	8,644,000
Effective interest rate							5.03%
Mortgage Notes Payable [Member] \| USCIS – Kansas City
Debt Instrument [Line Items]
Loan, Principal Outstanding							$ 51,500,000	$ 51,500,000
Effective interest rate							2.05%
Senior Unsecured Notes [Member] \| 2018 Term Loan Facility [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding							$ 200,000,000
Senior Unsecured Notes [Member] \| 2016 Term Loan Facility [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding							100,000,000
Senior Unsecured Notes [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding							$ 450,000,000
LIBOR [Member]
Debt Instrument [Line Items]
Loan, interest rate							4.39%
SOFR [Member]
Debt Instrument [Line Items]
Loan, interest rate							5.31%
Number of forward interest rate swaps \| Swap			3
Aggregate notional value of interest rate swaps			$ 100,000,000

Equity Incentive Pan

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Equity Incentive Plan

8. Equity Incentive Plan

Our board of directors adopted, and our sole stockholder approved, our 2015 Equity Incentive Plan, as amended (the “2015 Equity Incentive Plan”) under which we may grant cash and equity incentive awards to our executive officers, non-employee directors and employees. The 2015 Equity Incentive Plan is administered by the compensation committee of our board of directors (the “Compensation Committee”) and permits us to make grants of options, stock appreciation rights, restricted stock units, restricted stock, dividend equivalent rights, cash-based awards, performance-based awards and other equity-based awards, including LTIP units, or any combination of the foregoing.

There are an aggregate 5,273,959 shares of our common stock authorized for issuance under the 2015 Equity Incentive Plan. The shares of our common stock underlying any awards that are forfeited, cancelled, or are otherwise terminated (other than by exercise) under the 2015 Equity Incentive Plan are added back to the shares available for issuance. As of December 31, 2023, 836,574 shares were available for issuance under the 2015 Equity Incentive Plan.

On December 6, 2023, we entered into a Transition and Separation Agreement with William C. Trimble III (the “Separation Agreement”), pursuant to which Mr. Trimble retired from his positions as Chief Executive Officer and President of the Company and as a member of the Company’s board of directors effective December 31, 2023. Pursuant to the terms of the Separation Agreement, Mr. Trimble received a lump sum severance payment of $0.4 million and his annual cash bonus for 2023 of $1.3 million which was included in compensation expense for the year ended December 31, 2023. In addition, Mr. Trimble’s LTIP Units were treated as follows: (i) all of the LTIP Units subject to only time-based vesting conditions vested as of December 31, 2023; and (ii) all of the LTIP Units subject to both time- and performance-based vesting conditions will remain eligible to be earned and will continue to vest following December 31, 2023, with the number of LTIP Units earned under each award agreement to be calculated as of the end of the applicable performance period set forth in the corresponding award agreement in the same manner as if his retirement had not occurred. On December 6, 2023, we revalued Mr. Trimble’s unvested LTIP units and recognized the fair value of the modified award less compensation cost previously recognized over his remaining requisite service period. We recognized $0.4 million and less than $0.1 million in compensation expense related to the modification of Mr. Trimble’s service and operational LTIP Unit awards, respectively, for the year ended December 31, 2023. Additionally, we recaptured $0.8 million in compensation expense related to the modification of Mr. Trimble’s performance LTIP Unit awards for the year ended December 31, 2023.

Restricted Shares

We award restricted stock to certain members of management and non‑employee directors. Management awards generally vest over a range of two to four years. Non‑employee director shares vest upon the earlier of the anniversary of the date of the grant or the next annual stockholder meeting, as long as the grantee remains a director or employee on such date. Restricted stock awards issued under the 2015 Equity Incentive Plan may not be sold or otherwise transferred until restrictions have lapsed, as established by the Compensation Committee.

We value our non-vested restricted share awards at the grant date fair value, which was the market price of our common stock as of the applicable grant date. We recognized $0.6 million, $0.6 million and $0.8 million in compensation expense, related to restricted common stock awards, for the years ended December 31, 2023, 2022 and 2021, respectively.

The fair value of restricted stock that vested was $0.4 million during 2023, $1.3 million during 2022, and $0.9 million during 2021, based on the market price at the vesting date. The balance of unamortized restricted stock expense as of December 31, 2023, was $0.2 million, which is expected to be recognized over a weighted‑average period of 0.8 years.

A summary of the status of our restricted shares as of December 31, 2023, 2022 and 2021 and changes during the years then ended are presented below:


	Restricted Shares			Restricted Shares Weighted average grant date fair value
Outstanding, December 31, 2020		89,891		$	19.36
Vested		(39,750	)		21.50
Granted		38,288			21.08
Forfeited		(2,423	)		18.36
Outstanding, December 31, 2021		86,006		$	19.16
Vested		(71,168	)	$	18.49
Granted		29,078			18.81
Forfeited		(2,601	)		21.16
Outstanding, December 31, 2022		41,315		$	19.94
Vested		(30,987	)	$	19.43
Granted		32,486			14.18
Forfeited		—			—
Outstanding, December 31, 2023		42,814		$	15.94

LTIP Units

We grant LTIP units to certain members of management and non‑employee directors. Management awards generally vest immediately or over a range of two to four years. Non‑employee director shares vest upon the earlier of the anniversary of the date of the grant or the next annual stockholder meeting, as long as the grantee remains a director or employee on such date. Performance-based LTIP units are earned subject to us achieving certain thresholds, including absolute total shareholder returns, relative total shareholder returns, or operational hurdles through the performance period. Service-based LTIP units are earned over time, subject to continued employment and other terms of the awards.

The following is a summary of our granted LTIP unit awards:


Award Type	Grant Date	Performance Period End Date		Vest Date	Units Granted		Units Vested
Service	January 4, 2021		—	December 31, 2023		113,703		106,963
Operational Performance	January 4, 2021	December 31, 2023		1		82,108	1
TSR Performance	January 4, 2021	December 31, 2023		2		82,070	2
Service	May 19, 2021		—	May 3, 2022		6,647		6,647
2021 LTIP Grant						284,528

Service	January 3, 2022		—	December 31, 2024		110,906	3
Operational Performance	January 3, 2022	December 31, 2024		4		80,160	4
TSR Performance	January 3, 2022	December 31, 2024		4		158,535	4
Service	May 11, 2022		—	May 2, 2023		11,238		11,238
2022 LTIP Grant						360,839

Service	January 3, 2023		—	December 31, 2025		219,859	3
Operational Performance	January 3, 2023	December 31, 2025		4		127,291	4
TSR Performance	January 3, 2023	December 31, 2025		4		148,633	4
Service	March 2, 2023		—	March 2, 2026		3,438		—
Service	May 9, 2023		—	5		16,244	5
2023 LTIP Grant						515,465

(1)

An aggregate of 91,384 Operational Performance LTIP units were earned as of December 31, 2023 and vested on January 17, 2024.

(2)

Based on the Company's performance through the performance period ending December 31, 2023, no TSR Performance LTIP units were earned.

(3)

37,392 service-based LTIP units granted on January 3, 2022 and 75,044 service-based LTIP units granted on January 3, 2023 to William C. Trimble, III, our former Chief Executive Officer and President, vested on December 31, 2023 in accordance with the terms of Mr. Trimble's Transition and Separation Agreement with the Company, dated December 6, 2023.

(4)

Operational and TSR performance LTIP units may be earned based on the Company's performance through the performance period ending December 31, 2024 or December 31, 2025, as applicable. Subject to the grantee's continued employment, earned awards will vest upon the determination of the number of earned LTIP units following the end of the applicable performance period.

(5)

Represents LTIP units granted to our independent directors that will vest on the earlier of the anniversary of the grant date or the 2024 annual meeting of stockholders.

We value our LTIP unit awards that are subject to us achieving certain operational performance conditions at the grant date fair value, which is the market price of our common stock as of the applicable grant date. We value our service-based LTIP unit awards at the grant date fair value, which is the market price of our common stock as of the applicable grant date, discounted by the risk related to the timing of book-up events. For the LTIP unit awards granted that are subject to us achieving certain total shareholder return performance thresholds we used a Monte Carlo Simulation (risk-neutral approach) to determine the number of shares that may be issued pursuant to the award.

The following is a summary of the significant assumptions used to value the total shareholder return performance-based LTIP units:


	Year Ended December 31,
	2023	2022			2021
Expected volatility	26.0% - 39.0%		27.0	%		28.0	%
Dividend yield	5.6% - 8.5%		4.8	%		4.9	%
Risk-free interest rate	4.2% - 5.2%		1.0	%		0.2	%
Expected life	3 years	3 years			3 years

The fair value of LTIP units that vested were $6.9 million during 2023, $5.5 million during 2022, and $4.5 million during 2021, based on the market price at the vesting date. We recognized $5.2 million, $5.9 million and $4.2 million in compensation expense related to LTIP unit awards, for the years ended December 31, 2023, 2022 and 2021, respectively. The balance of unamortized LTIP expense as of December 31, 2023 was $4.8 million, which is expected to be recognized over a weighted‑average period of 1.5 years. As of December 31, 2023, management considers it probable that the operational performance conditions on four of our five unvested grants will be achieved.

A summary of the status of our LTIP units as of December 31, 2023, 2022 and 2021 and changes during the years then ended are presented below:


	LTIP Units (1)			LTIP Units Weighted average grant date fair value
Outstanding, December 31, 2020		492,180		$	19.88
Vested		(93,085	)		18.55
Granted		284,528			22.18
Forfeited		(32,385	)		21.03
Outstanding, December 31, 2021		651,238		$	21.02
Vested		(115,412	)	$	18.66
Granted		360,839			17.48
Forfeited		—			—
Outstanding, December 31, 2022		896,665		$	19.90
Vested		(423,969	)	$	18.73
Granted (2)		857,228			10.54
Forfeited (2)		(427,115	)		16.23
Outstanding, December 31, 2023		902,809		$	13.30

(1)

Reflects the number LTIP units issued to the grantee on the grant date which may be different from the number of LTIP units actually earned in the case of performance-based LTIP units.

(2)

Modified LTIP Units are treated as forfeited and re-granted at their new fair value.

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Rental income	$ 273,906	$ 284,488	$ 267,389
Asset management income	2,110	1,409	136
Total revenues	287,227	293,606	274,860
Expenses
Property operating	71,964	66,781	56,693
Real estate taxes	30,461	30,900	30,429
Depreciation and amortization	91,292	98,254	91,266
Acquisition costs	1,661	1,370	1,939
Corporate general and administrative	27,118	24,785	23,522
Total expenses	222,496	222,090	203,849
Other income (expense)
Income from unconsolidated real estate venture	5,498	3,374	271
Interest expense, net	(49,169)	(47,378)	(38,632)
Gain on the sale of operating properties		13,590	1,307
Impairment loss		(5,540)
Net income	21,060	35,562	33,957
Non-controlling interest in Operating Partnership	(2,256)	(4,088)	(3,899)
Net income available to Easterly Government Properties, Inc.	$ 18,804	$ 31,474	$ 30,058
Net income available to Easterly Government Properties, Inc. per share:
Basic	$ 0.19	$ 0.34	$ 0.35
Diluted	$ 0.19	$ 0.34	$ 0.35
Weighted- average common shares outstanding
Basic	94,264,166	90,613,966	84,043,012
Diluted	94,556,055	90,948,701	84,619,390
Dividends declared per common share	$ 1.06	$ 1.06	$ 1.05
Tenant Reimbursements [Member]
Revenues
Total revenues	$ 8,908	$ 5,920	$ 5,187
Other Income [Member]
Revenues
Total revenues	$ 2,303	$ 1,789	$ 2,148

Equity Incentive Pan (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Restricted Shares

A summary of the status of our restricted shares as of December 31, 2023, 2022 and 2021 and changes during the years then ended are presented below:


	Restricted Shares			Restricted Shares Weighted average grant date fair value
Outstanding, December 31, 2020		89,891		$	19.36
Vested		(39,750	)		21.50
Granted		38,288			21.08
Forfeited		(2,423	)		18.36
Outstanding, December 31, 2021		86,006		$	19.16
Vested		(71,168	)	$	18.49
Granted		29,078			18.81
Forfeited		(2,601	)		21.16
Outstanding, December 31, 2022		41,315		$	19.94
Vested		(30,987	)	$	19.43
Granted		32,486			14.18
Forfeited		—			—
Outstanding, December 31, 2023		42,814		$	15.94

Long Term Incentive Plan

Summary of Restricted Shares

A summary of the status of our LTIP units as of December 31, 2023, 2022 and 2021 and changes during the years then ended are presented below:


	LTIP Units (1)			LTIP Units Weighted average grant date fair value
Outstanding, December 31, 2020		492,180		$	19.88
Vested		(93,085	)		18.55
Granted		284,528			22.18
Forfeited		(32,385	)		21.03
Outstanding, December 31, 2021		651,238		$	21.02
Vested		(115,412	)	$	18.66
Granted		360,839			17.48
Forfeited		—			—
Outstanding, December 31, 2022		896,665		$	19.90
Vested		(423,969	)	$	18.73
Granted (2)		857,228			10.54
Forfeited (2)		(427,115	)		16.23
Outstanding, December 31, 2023		902,809		$	13.30

(1)

Reflects the number LTIP units issued to the grantee on the grant date which may be different from the number of LTIP units actually earned in the case of performance-based LTIP units.

(2)

Modified LTIP Units are treated as forfeited and re-granted at their new fair value.

Summary of Grants

The following is a summary of our granted LTIP unit awards:


Award Type	Grant Date	Performance Period End Date		Vest Date	Units Granted		Units Vested
Service	January 4, 2021		—	December 31, 2023		113,703		106,963
Operational Performance	January 4, 2021	December 31, 2023		1		82,108	1
TSR Performance	January 4, 2021	December 31, 2023		2		82,070	2
Service	May 19, 2021		—	May 3, 2022		6,647		6,647
2021 LTIP Grant						284,528

Service	January 3, 2022		—	December 31, 2024		110,906	3
Operational Performance	January 3, 2022	December 31, 2024		4		80,160	4
TSR Performance	January 3, 2022	December 31, 2024		4		158,535	4
Service	May 11, 2022		—	May 2, 2023		11,238		11,238
2022 LTIP Grant						360,839

Service	January 3, 2023		—	December 31, 2025		219,859	3
Operational Performance	January 3, 2023	December 31, 2025		4		127,291	4
TSR Performance	January 3, 2023	December 31, 2025		4		148,633	4
Service	March 2, 2023		—	March 2, 2026		3,438		—
Service	May 9, 2023		—	5		16,244	5
2023 LTIP Grant						515,465

(1)

An aggregate of 91,384 Operational Performance LTIP units were earned as of December 31, 2023 and vested on January 17, 2024.

(2)

Based on the Company's performance through the performance period ending December 31, 2023, no TSR Performance LTIP units were earned.

(3)

(4)

(5)

Represents LTIP units granted to our independent directors that will vest on the earlier of the anniversary of the grant date or the 2024 annual meeting of stockholders.

Summary of Significant Assumptions Used to Value the Total Shareholder

The following is a summary of the significant assumptions used to value the total shareholder return performance-based LTIP units:


	Year Ended December 31,
	2023	2022			2021
Expected volatility	26.0% - 39.0%		27.0	%		28.0	%
Dividend yield	5.6% - 8.5%		4.8	%		4.9	%
Risk-free interest rate	4.2% - 5.2%		1.0	%		0.2	%
Expected life	3 years	3 years			3 years

Investments in Unconsolidated Real Estate Venture

12 Months Ended

Dec. 31, 2023

Unconsolidated Real Estate Ventures [Abstract]

Investments in Unconsolidated Real Estate Venture

4. Investment in Unconsolidated Real Estate Venture

The following is a summary of our investment in our unconsolidated real estate venture (dollars in thousands):


		As of December 31,
Joint Venture	Ownership Interest	2023		2022
MedBase Venture	53.0%	$	284,544	$	271,644

On October 13, 2021, we formed the JV, with a global investor to fund the acquisition of a portfolio of ten properties anticipated to encompass 1,214,165 leased square feet (the “VA Portfolio”). We own a 53.0% interest in the JV, subject to preferred allocations as provided in the JV agreement.

During the year ended December 31, 2023, the JV acquired VA – Corpus Christi for a purchase price of $34.5 million. During the year ended December 31, 2022, the JV acquired four properties, consisting of VA – Birmingham, VA – Marietta, VA – Columbus and VA – Phoenix, for an aggregate purchase price of $273.2 million. As of December 31, 2023, nine of the ten properties in the VA Portfolio had been acquired by the JV.

We provide asset management services to our unconsolidated real estate venture. We recognized asset management service revenue of $2.1 million, $1.4 million and $0.1 million for the year ended December 31, 2023, 2022 and 2021, respectively.

The following is a summary of financial information for our unconsolidated real estate venture:


	As of December 31,
Balance sheet information:	2023		2022
Real estate, net	$	449,956	$	430,823
Other assets, net (1)		97,190		90,100
Total assets	$	547,146	$	520,923

Total liabilities (2)	$	10,854	$	9,026
Total equity		536,292		511,897
Total liabilities and equity	$	547,146	$	520,923

Company’s share of equity	$	284,169	$	271,269
Basis differential (3)		375		375
Carrying value of the Company’s investment in the unconsolidated venture	$	284,544	$	271,644

(1)

At December 31, 2023 and 2022, this amount included right-of-use assets - finance leases totaling approximately $4.8 million and $4.9 million, respectively, representing a ground lease at VA – Lubbock.

(2)

At December 31, 2023 and 2022, this amount included lease liabilities - finance leases totaling approximately $5.0 million and $5.0 million, respectively, representing a ground lease at VA – Lubbock.

(3)

This amount represents the aggregate difference between our historical cost basis and the basis reflected at the joint venture level.


	For the year ended December 31,
Income statement information:	2023		2022		2021
Total revenue	$	40,693	$	25,898	$	1,864
Operating income		10,567		6,530		548
Net income		10,402		6,366		512

Company’s share of net income	$	5,498	$	3,374	$	271

Fair Value Measurements

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

7. Fair Value Measurements

The carrying values of cash and cash equivalents, restricted cash, accounts receivable, other assets and accounts payable and accrued expenses are reasonable estimates of fair values because of the short maturities of these instruments. The table below presents our assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022, aggregated by the level in the fair value hierarchy within which those measurements fall (amounts in thousands):


	As of December 31, 2023
Balance Sheet Line Item	Level 1		Level 2		Level 3
Interest rate swaps - Asset	$	—	$	1,994	$	—


	As of December 31, 2022
Balance Sheet Line Item	Level 1		Level 2		Level 3
Interest rate swaps - Asset	$	—	$	4,020	$	—

For our disclosure of debt fair values, we estimated the fair value of our 2016 term loan facility and our 2018 term loan facility based on the variable interest rate and credit spreads (categorized within Level 3 of the fair value hierarchy) and estimated the fair value of our other debt based on the discounted estimated future cash payments to be made on such debt (categorized within Level 3 of the fair value hierarchy); the discount rates used approximate current market rates for loans, or groups of loans, with similar maturities and credit quality, and the estimated future payments included scheduled principal and interest payments. Fair value estimates are made as of a specific point in time, are subjective in nature and involve uncertainties and matters of significant judgment. Settlement at such fair value amounts may not be possible and may not be a prudent management decision.

Nonrecurring fair value measurements

On a quarterly basis we assess the recoverability of the carrying amount of our real estate and related intangibles. In the third quarter of 2022, our assessment resulted in the remeasurement of ICE – Otay, which was written down to its estimated fair value and was classified as Level 3 in the fair value hierarchy. Our estimate of the fair value was based on a combination of a pending offer from a third party to acquire the property and a discounted cash flow analysis. We used two significant unobservable inputs in the various scenarios, which were the cash flow discount rate (ranging from 6.25%-9.00%) and average price per square foot of comparable sales in the market ($109.08-$185.90). There is no assurance that we will sell ICE – Otay on the terms proposed or at all. The remeasurement resulted in an impairment loss of $5.5 million during the year ended December 31, 2022, which is included in "Impairment loss" in our Consolidated Statements of Operations.

No impairment charges were incurred during the year ended December 31, 2023.

Financial assets and liabilities not measured at fair value

As of December 31, 2023 and 2022, all financial instruments and liabilities were reflected in our balance sheets at amounts which, in our estimation, reasonably approximated their fair values, except for the following:


	December 31, 2023				December 31, 2022
Financial liabilities	Carrying Amount (1)		Fair Value (2)		Carrying Amount (1)		Fair Value (2)
Revolving credit facility	$	79,000	$	79,000	$	65,500	$	65,500
2016 Term loan facility	$	100,000	$	100,000	$	100,000	$	100,000
2018 Term loan facility	$	200,000	$	200,000	$	150,000	$	150,000
Notes payable	$	700,000	$	607,046	$	700,000	$	594,019
Mortgages payable	$	220,597	$	208,743	$	240,612	$	224,462

(1)

The carrying amount consists of principal only.

(2)

We deem the fair value measurement of the financial liability instrument a Level 3 measurement.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Fair Values of Assets Acquired and Liabilities Assumed

Real Estate and Intangibles (Tables)

12 Months Ended

Dec. 31, 2023

Real Estate [Abstract]

allocated the aggregate purchase price of these acquisitions based on the estimated fair values of the acquired assets and assumed liabilities as follows (amounts in thousands):



	December 31, 2023			December 31, 2022
Real estate
Land	$	8,407		$	9,795
Building		37,328			83,403
Acquired tenant improvements		4,283			5,386
Total real estate		50,018			98,584
Intangible assets
In-place leases		9,538			7,927
Acquired leasing commissions		3,919			4,453
Total intangible assets		13,457			12,380
Intangible liabilities
Below-market leases		—			(2,858	)
Total intangible liabilities		—			(2,858	)
Prepaid expenses and other assets
Contingent consideration		41			—
Accounts payable, accrued expenses and other liabilities
Contingent consideration		(388	)		—
Purchase price		63,128			108,106

Schedule of Real Estate and Intangibles

Real estate and intangibles on our consolidated balance sheets consisted of the following (amounts in thousands):


	December 31, 2023			December 31, 2022
Real estate properties, net
Land	$	221,999		$	213,592
Building		2,349,846			2,266,674
Acquired tenant improvements		85,949			81,872
Construction in progress		52,426			44,452
Accumulated depreciation		(391,077	)		(321,282	)
Total Real estate properties, net	$	2,319,143		$	2,285,308
Intangible assets, net
In-place leases		280,604			273,077
Acquired leasing commissions		72,560			68,756
Above market leases		14,620			14,620
Payment in lieu of taxes		6,394			6,394
Accumulated amortization		(225,725	)		(205,565	)
Total Intangible assets, net	$	148,453		$	157,282
Intangible liabilities, net
Below market leases		(72,037	)		(72,088	)
Accumulated amortization		59,557			55,701
Total Intangible liabilities, net	$	(12,480	)	$	(16,387	)

Amortization of Total Intangible Assets and Intangible Liabilities

The projected amortization of total intangible assets and intangible liabilities as of December 31, 2023 are as follows (amounts in thousands):


	Total
Intangible assets
2024	$	20,088
2025		17,712
2026		16,593
2027		14,666
2028		12,248
Thereafter		67,146
	$	148,453
Intangible liabilities
2024	$	(2,938	)
2025		(2,246	)
2026		(2,008	)
2027		(1,783	)
2028		(1,238	)
Thereafter		(2,267	)
	$	(12,480	)

Summary of Scheduled Amortization Market Lease Intangibles


	Acquired Above-Market Lease Intangibles		Acquired Below-Market Lease Intangibles
2024	$	1,129	$	(2,938	)
2025		1,097		(2,246	)
2026		1,096		(2,008	)
2027		1,096		(1,783	)
2028		725		(1,238	)

Leases - Schedule of Maturity of Fixed Lease Payments Under Our Corporate Office Leases (Detail) - Corporate Office Leases [Member] $ in Thousands	Dec. 31, 2022 USD ($)
Schedule Of Future Minimum Rental Payments For Operating Leases [Line Items]
2024	$ 768
2025	793
2026	661
2027	368
2028	385
Thereafter	333
Total future minimum lease payments	3,308
Imputed interest	(330)
Total	$ 2,978

Related Parties

12 Months Ended

Dec. 31, 2023

Related Parties

15. Related Parties

We have reimbursement arrangements with entities controlled by our former Chairman, who was appointed Chief Executive Officer effective January 1, 2024, and Vice Chairman, which provide for reimbursement of costs paid on our behalf, or those we pay on their behalf. For the years ended December 31, 2023, 2022 and 2021, we were responsible for reimbursing costs of $0.8 million, $0.4 million and $0.3 million, respectively, and received reimbursement for costs of less than $0.1 million, less than $0.1 million and $0.1 million, respectively.

We provide asset management services to properties owned by the JV. For the years ended December 31, 2023, 2022 and 2021 we recognized Asset management fees of $2.1 million, $1.4 million and $0.1 million, respectively, and reimbursement for certain costs that we paid on their behalf of $0.3 million, $0.1 million and $0.5 million, respectively.

As of December 31, 2023, and 2022, Accounts receivable from related parties was $0.2 million and $0.4 million, respectively. As of December 31, 2023, and 2022, Accounts payable, accrued expenses and other liabilities included $0.4 million and less than $0.1 million, respectively, owed to related parties.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Summary of Basic and Diluted Earnings Per Common Share

Schedule III - Real Estate and Accumulated Depreciation (Parenthetical) (Detail)	Dec. 31, 2023
Minimum [Member]
Real Estate Properties [Line Items]
Estimated lives of assets	5 years
Maximum [Member]
Real Estate Properties [Line Items]
Estimated lives of assets	40 years

Investments in Unconsolidated Real Estate Venture - Summary of Financial Information (Parenthetical) (Details) - J V Partner [Member] - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other assets	Prepaid expenses and other assets
Finance lease, right-of-use asset	$ 4.8	$ 4.9
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accounts payable, accrued expenses and other liabilities	Accounts payable, accrued expenses and other liabilities
Finance lease, liability	$ 5.0	$ 5.0

Summary of Significant Accounting Policies - Summary of Dividends Paid on Common Shares (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investment Company, Dividend Distribution [Abstract]
Ordinary income	40.31%	47.48%	54.43%
Long-term capital gain	0.00%	0.00%	0.00%
Return of capital	59.69%	52.52%	45.57%

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

The following table sets forth the computation of our basic and diluted earnings per share of common stock for the years ended December 31, 2023, 2022 and 2021 (dollars in thousands, except per share amounts):


	For the years ended December 31,
	2023			2022			2021
Numerator
Net income	$	21,060		$	35,562		$	33,957
Less: Non-controlling interest in Operating Partnership		(2,256	)		(4,088	)		(3,899	)
Net income available to Easterly Government Properties, Inc.		18,804			31,474			30,058
Less: Dividends on participating securities		(599	)		(546	)		(470	)
Net income available to common stockholders	$	18,205		$	30,928		$	29,588
Denominator for basic EPS		94,264,166			90,613,966			84,043,012
Dilutive effect of share-based compensation awards		18,128			19,336			52,500
Dilutive effect of LTIP units (1)		269,685			315,399			434,631
Dilutive effect of shares issuable under forward sales agreements (2)		4,076			—			89,247
Denominator for diluted EPS		94,556,055			90,948,701			84,619,390
Basic EPS	$	0.19		$	0.34		$	0.35
Diluted EPS	$	0.19		$	0.34		$	0.35

(1)

(2)

Investments in Unconsolidated Real Estate Venture - Summary of Financial Information (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Balance sheet information:

Total assets

$ 2,879,752

$ 2,829,385

Total liabilities (2)

1,470,236

1,418,403

Total equity

1,322,201

1,244,881

Total liabilities and equity

2,879,752

2,829,385

Investment in unconsolidated real estate venture

284,544

271,644

Income statement information:

Revenues

287,227

293,606

$ 274,860

Net income

18,804

31,474

30,058

Real Estate Joint Venture [Member]

Balance sheet information:

Real estate, net (1)

449,956

430,823

Other assets, net

^[1]

97,190

90,100

Total assets

547,146

520,923

Total liabilities (2)

^[2]

10,854

9,026

Total equity

536,292

511,897

Total liabilities and equity

547,146

520,923

Investment in unconsolidated real estate venture

284,169

271,269

Basis differential (3)

^[3]

375

Carrying value of the Company's investment in the unconsolidated venture

284,544

271,644

Income statement information:

Revenues

40,693

25,898

1,864

Operating income

10,567

6,530

548

Net income

10,402

6,366

512

Company's share of net income

$ 5,498

$ 3,374

$ 271

[1]	At December 31, 2023 and 2022, this amount included right-of-use assets - finance leases totaling approximately $4.8 million and $4.9 million, respectively, representing a ground lease at VA – Lubbock.
[2]	At December 31, 2023 and 2022, this amount included lease liabilities - finance leases totaling approximately $5.0 million and $5.0 million, respectively, representing a ground lease at VA – Lubbock
[3]	This amount represents the aggregate difference between our historical cost basis and the basis reflected at the joint venture level

Subsequent Events

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

16. Subsequent Events

For its consolidated financial statements as of December 31, 2023, we evaluated subsequent events as of the filing date of this Annual Report on Form 10-K and noted the following significant events:

On January 2, 2024, we granted an aggregate of 193,993 performance-based LTIP units to members of management pursuant to the 2015 Equity Incentive Plan, consisting of (i) 77,256 LTIP units that are subject to us achieving certain total shareholder return performance thresholds (on both an absolute and relative basis) and (ii) 116,737 LTIP units that are subject to us achieving certain operational performance hurdles, in each case through a performance period ending on December 31, 2026. The performance-based LTIP units will vest to the extent earned following the end of the performance period on December 31, 2026. On January 2, 2024, we also granted an aggregate of 201,150 service-based LTIP units to members of management pursuant to the 2015 Equity Incentive Plan, which will vest on December 31, 2026. The LTIP units are subject to the grantee’s continued employment and the other terms of the awards.

On January 19, 2024, we granted 69,419 performance-based LTIP units to members of management pursuant to the 2015 Equity Incentive Plan that are subject to us achieving certain total shareholder return performance thresholds (on a relative basis) through a performance period ending on December 31, 2026. The performance-based LTIP units will vest to the extent earned following the end of the performance period on December 31, 2026.

On January 23, 2024, we entered into the seventh amendment to the 2016 term loan facility agreement to extend the maturity date of the loan to January 30, 2025.

Subsequent to December 31, 2023, the Company entered into forward sales transactions under the December 2019 ATM Program for the sale of an additional 89,647 shares of its common stock that have not yet been settled. Subject to its right to elect net share settlement, the Company expects to physically settle the forward sales transactions no later than January 2025. Assuming the forward sales transactions are physically settled in full utilizing a net weighted average initial forward sales price of $13.39 per share, the Company expects to receive net proceeds of approximately $1.2 million, after deducting offering costs, subject to adjustments in accordance with the applicable forward sale transaction.

Revenue - Summary of Revenue from Tenant Construction Projects Disaggregated by Tenant Agency (Detail) - ASU 2014-09 [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	$ 9,962	$ 6,673	$ 5,671
Department of Veteran Affairs ("VA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	5,702	2,373	1,660
U.S Joint Staff Command ("JSC") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	2,132	948	520
Federal Bureau of Investigation ("FBI") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	792	1,307	2,384
U.S. Coast Guard ("USCG") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	346	182	98
Customs and Border Protection ("CBP") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	293	157
The Judiciary of the U.S. Government ("JUD") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	163	391	11
Department of Transportation ("DOT") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	142		49
Immigration and Customs Enforcement ("ICE") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	111	7	57
Federal Emergency Management Agency ("FEMA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	89	318	15
U.S. Citizenship and Immigration Services ("USCIS") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	56	250	91
Bonneville Power Administration ("BPA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	16
Food And Drug Administration ("FDA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	45	346	93
Internal Revenue Service ("IRS") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	20	37	207
National Archives and Records Administration ("NARA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	13
Department of Labor ("DOL") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	3
Occupational Safety and Health Administration ("OSHA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income		116	1
National Park Service ("NPS") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income		110	41
General Services Administration - Other [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	$ 39	42	25
Drug Enforcement Administration ("DEA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income		40	40
Federal Aviation Administration ("FAA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income		29
Patent and Trademark Office ("PTO") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income		14
Health Resources and Services Administration ("HRSA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income		4	3
National Weather Service ("NWS") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income		$ 2
Bureau of the Fiscal Service ("BFS") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income			59
Department of Energy ("DOE") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income			95
Environmental Protection Agency ("EPA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income			204
Military Entrance Processing Command ("MEPCOM") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income			$ 18

Investments in Unconsolidated Real Estate Venture - Summary of Investments in Unconsolidated Real Estate Ventures (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Investment in unconsolidated real estate venture	$ 284,544	$ 271,644
MedBase Venture [Member]
Related Party Transaction [Line Items]
Investment in unconsolidated real estate venture	$ 284,544	$ 271,644
Effective Ownership Interest	53.00%

Leases - Schedule of Quantitative Information for Our Operating Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Cash flows from operating lease costs	$ 620	$ 624	$ 421
Weighted average remaining lease term (in years)	4 years 8 months 1 day	5 years 7 months 13 days	4 years 6 months 3 days
Weighted average discount rate	3.19%	3.15%	2.36%

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Range of useful Lives For Depreciable Assets

Range of useful lives for depreciable assets are as follows:


Category		Term
Buildings		40 years
Building improvements		5 - 40 years
Tenant improvements		Generally shorter of the remaining life of the lease or useful life
Furniture and equipment		3 - 7 years

Summary of Dividends Paid On Common Shares

The characterization of dividends paid on our common shares during each of the last three years was as follows:


	For the years ended December 31,
	2023			2022			2021
Ordinary income		40.31	%		47.48	%		54.43	%
Long-term capital gain		0.00	%		0.00	%		0.00	%
Return of capital		59.69	%		52.52	%		45.57	%

Fair Value Measurements - Schedule of Fair Value Financial Assets And Liabilities Not measured At Fair Value (Detail) - USD ($)
$ in Thousands

Dec. 31, 2023

Dec. 31, 2022

Revolving Credit Facility [Member]

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

^[1]

$ 79,000

$ 65,500

2016 Term Loan Facility [Member]

^[2]

79,000

65,500

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

^[1]

100,000

2018 Term Loan Facility [Member]

^[2]

100,000

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

^[1]

200,000

150,000

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

^[2]

200,000

150,000

Notes Payable [Member]

^[1]

700,000

Mortgages Payable [Member]

^[2]

607,046

594,019

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

^[1]

220,597

240,612

^[2]

$ 208,743

$ 224,462

[1]	The carrying amount consists of principal only.
[2]	We deem the fair value measurement of the financial liability instrument a Level 3 measurement.

Subsequent Events - Additional Information (Detail) - USD ($)

12 Months Ended

Jan. 19, 2024

Jan. 02, 2024

Jan. 01, 2024

Feb. 03, 2023

Jan. 26, 2023

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Jul. 20, 2023

Mar. 31, 2023

Proceeds from Issuance of Common Stock

$ 20,002,000

$ 10,899,000

$ 4,233,000

86,472,000

$ 9,504,000

$ 175,929,000

Interest Rate Swap [Member]

Maturity date, Description

$ 200,000,000

$ 100,000,000

The third swap, with a notional value of $100.0 million, became effective in September 2023. For more information on our interest rate swaps, see Note 6 to the Consolidated Financial Statements.

Forward Sales Agreement [Member]

Two Thousand Nineteen A T M Program [Member]

Cash

$ 46,800,000

Issuance of common stock, net (in shares)

1,950,000

434,925

3,671,232

Proceeds from Issuance of Common Stock

$ 39,279,000

$ 9,409,000

$ 90,005,000

Two Thousand Nineteen A T M Program [Member] | Forward Sales Agreement [Member]

Number of unsettled common stock shares sold

500,000

Net proceeds from unsettled common stock shares sold

$ 6,800,000

Forward Contract Indexed to Issuer's Equity, Forward Rate Per Share

$ 13.52

Weighted average price per share

$ 13.52

Two Thousand Nineteen A T M Program [Member] | Forward Sales Agreement [Member] | Subsequent Event [Member]

Number of unsettled common stock shares sold

89,647

Net proceeds from unsettled common stock shares sold

$ 1,200,000

Forward Contract Indexed to Issuer's Equity, Forward Rate Per Share

$ 13.39

Weighted average price per share

$ 13.39

Restricted Common Stock [Member]

Aggregate Service-based units granted

515,465

360,839

284,528

^[2]

857,228

^[1]

360,839

284,528

Restricted Common Stock [Member] | Subsequent Event [Member]

Restricted Common Stock [Member] | 2015 Equity Incentive Plan [Member] | Subsequent Event [Member]

69,419

Aggregate Service-based units granted

193,993

201,150

Restricted Common Stock [Member] | Performance Periods Ending on December 31, 2025 [Member] | Subsequent Event [Member]

Restricted Common Stock [Member] | Performance Periods Ending on December 31, 2025 [Member] | Subsequent Event [Member]

77,256

D E A Pleasanton [Member]

116,737

Cash

$ 15,700,000

Derivative Instruments and Hedging Activities Disclosure [Abstract]

$ 15,700,000

[1]	Modified LTIP Units are treated as forfeited and re-granted at their new fair value.
[2]	Reflects the number LTIP units issued to the grantee on the grant date which may be different from the number of LTIP units actually earned in the case of performance-based LTIP units

Concentrations Risk - Additional Information (Detail) - Property	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Wholly Owned Properties [Member]
Concentration Risk [Line Items]
Number of properties	90	86
CALIFORNIA
Concentration Risk [Line Items]
Number of properties	18	17
Rentable Square Feet [Member] \| Credit Concentration Risk [Member] \| CALIFORNIA
Concentration Risk [Line Items]
Percentage of concentrations risk	15.70%	14.80%
U.S. Government [Member] \| Lease Income [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	96.00%	96.40%
Non Governmental Tenants [Member] \| Lease Income [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	2.80%	3.40%
Governmental Tenants [Member] \| Lease Income [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	1.20%	0.20%

Schedule III - Real Estate and Accumulated Depreciation - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Aggregate cost	$ 2,648.9
Accumulated depreciation for tax purposes	$ 442.5

Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Key Terms and Fair Values of Our Interest Rate Swap Derivatives

The following table sets forth the key terms and fair values of our interest rate swap derivatives, each of which was designated as a cash flow hedge (dollars in thousands):


								Fair Value at December 31,
Notional Amount		Fixed Rate			Floating Rate Index (1)	Effective Date	Expiration Date	2023		2022
$	100,000		4.01	%	USD-SOFR with -5 Day Lookback	June 23, 2023	March 23, 2025	$	599	$	—
$	100,000		4.18	%	USD-SOFR with -5 Day Lookback	June 23, 2023	December 23, 2024	$	501	$	—
$	100,000		3.70	%	USD-SOFR with -5 Day Lookback	September 29, 2023	June 29, 2025	$	894	$	—
$	100,000		1.37	%	One-Month SOFR	November 29, 2022	September 29, 2023	$	—	$	2,530
$	150,000		2.58	%	One-Month SOFR	December 23, 2022	June 19, 2023	$	—	$	1,490

(1)

Schedule of Fair Value of Our Interest Rate Derivatives as Well as Their Classification on Our Consolidated Balance Sheets

The table below sets forth the fair value of our interest rate derivatives as well as their classification on our Consolidated Balance Sheets (dollars in thousands):


	Fair Value at December 31,
Balance Sheet Line Item	2023		2022
Interest rate swaps-Asset	$	1,994	$	4,020

Schedule of Effects of Our Interest Rate Derivatives on Our Consolidated Statements of Operations and Comprehensive Income (Loss)

The table below presents the effects of our interest rate derivatives on our Consolidated Statements of Operations and Comprehensive Income (Loss) (dollars in thousands):


	For the years ended December 31,
	2023		2022			2021
Unrealized gain recognized in AOCI	$	3,811	$	8,427		$	1,787
Gain (loss) reclassified from AOCI into interest expense		5,836		(1,292	)		(5,293	)

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

Schedule III, Real Estate and Accumulated Depreciation

Easterly Government Properties, Inc.

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2023

(Amounts in thousands)


				Initial Cost to Company						Cost amount carried at Close of Period
Location	Type(1)	Encumbrances(2)		Land		Buildings and Improvements		Costs Capitalized Subsequent to Acquisition(3)		Land		Buildings and Improvements		Total(4)		Accumulated Depreciation(3)(5)		Original Construction Date(s) (Unaudited)	Date Acquired
Aberdeen, MS	C/O	$ —		$	1,147	$	14,044	$	274	$	1,147	$	14,318	$	15,465	$	3,191	2005	6/17/2015
Alameda, CA	L	—			5,438		4,312		70,372		5,438		74,684		80,122		8,120	2019	8/1/2016
Albany, NY	O	—			1,801		11,544		339		1,801		11,883		13,684		2,804	2004	2/11/2015
Albany, NY	O	—			1,412		17,128		7,778		1,412		24,906		26,318		3,517	1998	11/22/2016
Albuquerque, NM	O	—			3,062		28,201		171		3,062		28,372		31,434		7,149	2011	2/17/2016
Albuquerque, NM	O	—			2,905		23,804		888		2,905		24,692		27,597		6,524	2006	2/11/2015
Albuquerque, NM	O		11,723		2,345		28,611		546		2,345		29,157		31,502		9,025	2011	2/11/2015
Anaheim, CA	O	—			7,081		16,346		31		7,081		16,377		23,458		122	1991 / 2020	10/3/2023
Arlington, VA	O	—			14,350		44,442		1,753		14,350		46,195		60,545		13,600	2009	2/11/2015
Atlanta, GA	O	—			1,074		10,788		6,807		1,074		17,595		18,669		145	2008 / 2023	10/3/2023
Bakersfield, CA	O	—			438		2,253		775		438		3,028		3,466		459	2000	10/16/2018
Birmingham, AL	O	—			408		10,853		174		408		11,027		11,435		2,347	2005	7/1/2016
Birmingham, AL	O	—			755		22,537		3,770		755		26,307		27,062		4,824	2005	7/1/2016
Birmingham, AL	O	—			1,410		17,276		120		1,410		17,396		18,806		2,926	2014	11/9/2018
Broomfield, CO	O/W	—			4,002		19,253		11		4,002		19,264		23,266		791	2012	5/10/2022
Brownsburg, IN	OC	—			1,774		26,300		24		1,774		26,324		28,098		1,425	2021	11/1/2021
Buffalo, NY	O	—			246		80,913		3,585		246		84,498		84,744		15,327	2004	9/13/2018
Charleston, SC	C/O	—			1,325		21,189		2,967		1,325		24,156		25,481		2,909	1999	10/16/2018
Charleston, WV	O	—			551		13,732		1,948		551		15,680		16,231		2,532	1959 / 2000	9/13/2018
Chico, CA	OC	—			5,183		24,405		56		5,183		24,461		29,644		2,249	2019	4/30/2020
Clarksburg, WV	O	—			108		13,421		1,234		108		14,655		14,763		2,183	1999	9/13/2018
Cleveland, OH	O	—			563		18,559		190		563		18,749		19,312		1,559	1981 / 2021	7/22/2021
Council Bluffs, IO	C/O	—			791		11,984	—			791		11,984		12,775		568	2021	8/23/2022
Dallas, TX	O	—			1,005		14,546		1,281		1,005		15,827		16,832		4,032	2001	2/11/2015
Dallas, TX	L	—			2,753		23,848		4,139		2,753		27,987		30,740		5,218	2001	12/1/2015
Dallas, TX	O	—			740		8,191		716		740		8,907		9,647		1,421	2005	9/13/2018
Del Rio, TX	C/O	—			210		30,676		1,512		210		32,188		32,398		8,236	1992 / 2004	2/11/2015
Des Plaines, IL	O	—			1,742		9,325		377		1,742		9,702		11,444		1,534	1971 / 1999	9/13/2018
El Centro, CA	C/O	—			1,084		20,765		1,506		1,084		22,271		23,355		5,656	2004	2/11/2015
El Paso, TX	O	—			2,430		33,649		4,742		2,430		38,391		40,821		4,135	1998 -2005	3/26/2020
Fresno, CA	O	—			1,499		68,309		5,370		1,499		73,679		75,178		18,053	2003	2/11/2015
Golden, CO	O/W		8,446		4,080		8,933		667		4,080		9,600		13,680		2,041	1996 / 2011	5/24/2018
Jackson, TN	C/O	—			332		24,324		465		332		24,789		25,121		1,896	1998	12/24/2020
Kansas City, KS	L	—			828		33,035		2,394		828		35,429		36,257		7,010	2003	7/1/2016
Kansas City, MO	O	—			645		24,431		105		645		24,536		25,181		2,146	1998 / 2020	5/20/2021
Knoxville, TN	O	—			2,840		25,775		499		2,840		26,274		29,114		3,089	2010	3/17/2021

Easterly Government Properties, Inc.

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2023

(Amounts in thousands)


				Initial Cost to Company							Cost amount carried at Close of Period
Location	Type(1)	Encumbrances(2)		Land		Buildings and Improvements		Costs Capitalized Subsequent to Acquisition(3)			Land		Buildings and Improvements		Total(4)		Accumulated Depreciation(3)(5)		Original Construction Date(s) (Unaudited)	Date Acquired
Lakewood, CO	O	—		$	1,521	$	32,865	$	932		$	1,521	$	33,797	$	35,318	$	9,669	6/26/1905	2/11/2015
Lees Summit, MO	O		51,998		2,974		90,858		2,932			2,974		93,790		96,764		5,923	1969 / 1999	10/14/2021
Lenexa, KS	O	—			4,367		42,692		379			4,367		43,071		47,438		6,765	2007 / 2012	8/22/2019
Lenexa, KS	L	—			649		3,449		62,427			649		65,876		66,525		5,375	2020	5/27/2017
Lincoln, NE	O	—			2,310		26,328		1,281			2,310		27,609		29,919		7,273	2005	11/12/2015
Little Rock, AR	O	—			2,278		19,318		752			2,278		20,070		22,348		5,267	2001	2/11/2015
Loma Linda, CA	OC		126,706		12,476		177,357		375			12,476		177,732		190,208		29,308	2016	6/1/2017
Louisville, KY	O	—			1,005		5,473		170			1,005		5,643		6,648		405	2011	3/17/2021
Louisville, KY	O	—			1,015		21,885		295			1,015		22,180		23,195		1,749	2011	3/17/2021
Lubbock, TX	W/D	—			541		972	—				541		972		1,513		295	2013	2/11/2015
Martinsburg, WV	O	—			1,700		13,294		258			1,700		13,552		15,252		3,586	2007	2/11/2015
Mobile, AL	O	—			2,045		20,400		4,017			2,045		24,417		26,462		1,716	2001	9/18/2020
Mobile, AL	OC	—			6,311		31,030		37			6,311		31,067		37,378		2,905	2018	4/30/2020
New Orleans, LA	O	—			664		24,471		718			664		25,189		25,853		2,932	1999 / 2006	5/9/2019
Newport News, VA	C/O	—			252		14,477		135			252		14,612		14,864		75	2008	10/19/2023
North Charleston, SC	O		12,079		963		34,987		1,519			963		36,506		37,469		8,961	1994 / 2012	2/11/2015
North Charleston, SC	W	—			918		14,033	—				918		14,033		14,951		1,109	2020	11/3/2020
Omaha, NE	O	—			4,635		41,319		1,196			4,635		42,515		47,150		13,057	2009	2/11/2015
Omaha, NE	O	—			1,517		14,156		500			1,517		14,656		16,173		3,574	2004	5/19/2016
Orange, CT	OC	—			3,098		23,613		37			3,098		23,650		26,748		2,430	2019	11/21/2019
Parkersburg, WV	O	—			365		52,200		1,058			365		53,258		53,623		7,908	2004 / 2006	9/13/2018
Pittsburgh, PA	O	—			384		24,877		3,228			384		28,105		28,489		4,470	2001	9/13/2018
Pleasanton, CA	L	—			5,765		20,859		336			5,765		21,195		26,960		4,340	2015	10/21/2015
Portland, OR	O	—			4,913		75,794		2,725			4,913		78,519		83,432		11,188	2002	1/31/2019
Richmond, VA	O	—			3,041		23,931		1,902			3,041		25,833		28,874		6,019	2001	12/7/2015
Riverside, CA	O	—			1,983		6,755		1,732			1,983		8,487		10,470		1,848	1997	2/11/2015
Sacramento, CA	O	—			1,434		9,369		2,421			1,434		11,790		13,224		3,228	2002	2/11/2015
Salt Lake City, UT	O	—			2,049		79,955		979			2,049		80,934		82,983		14,406	2012	9/28/2017
San Antonio, TX	O	—			3,745		49,153		1,508			3,745		50,661		54,406		13,503	2007	2/11/2015
San Diego, CA	W	—			3,060		510		914			3,060		1,424		4,484		590	1999	2/11/2015
San Diego, CA	O	—			2,252		12,280		(7,841	)		1,216		5,475		6,691		361	2001	9/11/2015
San Diego, CA	O	—			773		2,481		1,036			773		3,517		4,290		930	2003	2/11/2015
San Jose, CA	OC	—			10,419		52,750		58			10,419		52,808		63,227		7,220	2018	7/11/2018
Santa Ana, CA	O	—			6,413		8,635		827			6,413		9,462		15,875		2,861	2004	2/11/2015
Savannah, GA	L		9,243		3,220		10,687		486			3,220		11,173		14,393		2,853	2013	2/11/2015

Easterly Government Properties, Inc.

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2023

(Amounts in thousands)



				Initial Cost to Company						Cost amount carried at Close of Period
Location	Type(1)	Encumbrances(2)		Land		Buildings and Improvements		Costs Capitalized Subsequent to Acquisition(3)		Land		Buildings and Improvements		Total(4)		Accumulated Depreciation(3)(5)		Original Construction Date(s) (Unaudited)	Date Acquired
South Bend, IN	C/O	—		$	514	$	6,590	$	481	$	514	$	7,071	$	7,585	$	1,392	1996 / 2011	12/23/2016
South Bend, IN	OC	—			3,954		38,503		241		3,954		38,744		42,698		5,926	2017	11/16/2017
Springfield, MO	O	—			118		16,629		41		118		16,670		16,788		1,123	2002	4/22/2021
Sterling, VA	L	—			2,556		21,817		13,648		2,556		35,465		38,021		3,593	2001	1/31/2019
Suffolk, VA	O	—			7,141		61,577		8,150		7,141		69,727		76,868		8,084	1993 / 2004	5/8/2019
Tampa, FL	O	—			5,002		57,553		110		5,002		57,663		62,665		2,374	2005	5/18/2022
Tracy, CA	W	—			2,678		548		29,739		2,678		30,287		32,965		3,941	2018	10/4/2017
Tustin, CA	O	—			8,532		24,279		342		8,532		24,621		33,153		3,323	1979 / 2019	10/22/2019
Upper Marlboro, MD	L	—			5,054		18,301		2,571		5,054		20,872		25,926		2,621	2002	11/15/2018
Vista, CA	L	—			3,998		24,053		1,748		3,998		25,808		29,806		5,838	2002	2/11/2015
Various	Various	—			4,076		15,691		36,736		4,076		52,427		56,503	—		N/A	Various
		$	220,195	$	223,035	$	2,176,456	$	310,722	$	221,999	$	2,488,221	$	2,710,220	$	391,077

(1)

OC=Outpatient Clinic; O=Office; C=Courthouse; L=Laboratory; W=Warehouse; D=Distribution; M=Manufacturing.

(2)

Includes the unamortized balance of the fair value adjustments.

(3)

Includes asset impairments recognized, write-offs of involuntary conversions and write-offs of acquired tenant improvements upon the tenant vacating the space.

(4)

Excludes value of real estate intangibles.

(5)

Depreciation of real estate property is computed on a straight-line basis over the estimated useful lives of the assets. The estimated lives of our assets range from 5 to 40 years or to the term of the underlying lease.

The aggregate cost and accumulated depreciation for tax purposes was approximately $2,648.9 million and $442.5 million, respectively.

Easterly Government Properties, Inc.

Schedule III - Real Estate and Accumulated Depreciation

December 31, 2023

(Amounts in thousands)

Analysis of the carrying amount of real estate properties and accumulated depreciation:


	Real Estate Properties			Accumulated Depreciation
Balance at December 31, 2020		2,421,874			213,213
Additions		261,347			65,015
Dispositions		(6,656	)		(851	)
Balance at December 31, 2021		2,676,565			277,377
Additions		135,914			69,999
Dispositions		(198,214	)		(23,960	)
Real estate impaired (1)		(7,675	)		(2,134	)
Balance at December 31, 2022		2,606,590			321,282
Additions		103,630			69,795
Dispositions		—			—
Balance at December 31, 2023		2,710,220			391,077

(1)

During the quarter ended September 30, 2022, we recognized an impairment loss totaling approximately $5.5 million for its ICE – Otay. See Note 3 and Note 7 for additional information.

Revenue

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue

12. Revenue

The table below sets forth revenue from tenant construction projects disaggregated by tenant agency for the years ended December 31, 2023, 2022, and 2021 (amounts in thousands).


	For the year ended December 31,		For the year ended December 31,		For the year ended December 31,
Tenant	2023		2022		2021
Department of Veteran Affairs (“VA”)	$	5,702	$	2,373	$	1,660
U.S. Joint Staff Command (“JSC”)		2,132		948		520
Federal Bureau of Investigation (“FBI”)		792		1,307		2,384
U.S. Coast Guard (“USCG”)		346		182		98
Customs and Border Protection (“CBP”)		293		157		—
The Judiciary of the U.S. Government (“JUD”)		163		391		11
Department of Transportation (“DOT”)		142		—		49
Immigration and Customs Enforcement (“ICE”)		111		7		57
Federal Emergency Management Agency (“FEMA”)		89		318		15
U.S. Citizenship and Immigration Services (“USCIS”)		56		250		91
Food and Drug Administration (“FDA”)		45		346		93
General Services Administration - Other		39		42		25
Internal Revenue Service (“IRS”)		20		37		207
Bonneville Power Administration (“BPA”)		16		—		—
National Archives and Records Administration (“NARA”)		13		—		—
Department of Labor (“DOL”)		3		—		—
Occupational Safety and Health Administration (“OSHA”)		—		116		1
National Park Service (“NPS”)		—		110		41
Drug Enforcement Administration (“DEA”)		—		40		40
Federal Aviation Administration (“FAA”)		—		29		—
Patent and Trademark Office (“PTO”)		—		14		—
Health Resources and Services Administration (“HRSA”)		—		4		3
National Weather Service (“NWS”)		—		2		—
Bureau of the Fiscal Service (“BFS”)		—		—		59
Department of Energy (“DOE”)		—		—		95
Environmental Protection Agency (“EPA”)		—		—		204
Military Entrance Processing Command (“MEPCOM”)		—		—		18
	$	9,962	$	6,673	$	5,671

The balance in Accounts receivable related to tenant construction projects and the associated project management income was $9.6 million and $6.8 million, as of December 31, 2023 and 2022, respectively. The duration of the majority of tenant construction project reimbursement arrangements are less than a year and payment is typically due once a project is complete and work has been accepted by the tenant. There were no projects ongoing as of December 31, 2023 or as of December 31, 2022 with a duration of greater than one year.

During the years ended December 31, 2023, 2022, and 2021, we also recognized $0.5 million, $0.4 million, and $0.4 million, respectively, in parking garage income generated from the operations of parking garages situated on both the Various GSA – Buffalo property and on the Various GSA - Portland property. The monthly and transient daily parking revenue falls within the scope of ASC Topic 606 Revenue from Contracts with Customers and is accounted for at the point in time when control of the goods or services transfers to the customer and our performance obligation is satisfied. As of December 31, 2023 and 2022, there was less than $0.1 million in Accounts receivable attributable to parking garage income.

There were no contract assets or liabilities as of December 31, 2023 and 2022.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section 50
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-Subparagraph (a)
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-SubTopic 10
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-Subparagraph (b)(2)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

Revenue - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Tenant accounts receivable	$ 66,274	$ 58,835
ASU 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Accounts receivable related to tenant construction projects	9,600	6,800
Contract assets	0	0
Contract liabilities	0	0
ASU 2014-09 [Member] \| Various GSA - Buffalo Property [Member] \| Parking Garage [Member]
Disaggregation of Revenue [Line Items]
Tenant accounts receivable	100	100
Total revenues	$ 500	$ 400	$ 400

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (b)
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-SubTopic 10
-Name Accounting Standards Codification
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-Section 50
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-SubTopic 10
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-Topic 280
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Oct. 21, 2015
Commitments And Contingencies [Line Items]
Tax Protection Agreement Period	4 years	4 years	4 years	8 years
Outstanding borrowings	$ 79,000,000	$ 65,500,000
Standby Letters of Credit [Member]
Commitments And Contingencies [Line Items]
Outstanding borrowings	100,000	100,000
Letters of Credit Outstanding, Amount	$ 0	$ 0

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

Concentrations Risk

12 Months Ended

Dec. 31, 2023

Risks and Uncertainties [Abstract]

Concentrations Risk

14. Concentration Risk

Concentrations of credit risk arise for us when multiple tenants of the Company are engaged in similar business activities, are located in the same geographic region or have similar economic features that impact in a similar manner their ability to meet contractual obligations, including those to us. We regularly monitor our tenant base to assess potential concentrations of credit risk.

As stated in Note 1 above, we lease commercial space to the U.S. Government or nongovernmental tenants. At December 31, 2023, the U.S. Government accounted for 96.0% of our total leased square feet, state and local government tenants accounted for 1.2% of our total leased square feet and non-governmental tenants accounted for the remaining 2.8% of our total leased square feet. At December 31, 2022, the U.S. Government accounted for 96.4% of our leased square feet, state and local government tenants accounted for 0.2% of our total leased square feet and non-governmental tenants accounted for the remaining 3.4% of our total leased square feet.

At December 31, 2023, 18 of our 90 wholly-owned and unconsolidated operating properties were located in California, accounting for approximately 15.7% of our total leased square feet. At December 31, 2022, 17 of our 86 operating properties were located in California, accounting for approximately 14.8% of our total leased square feet. To the extent that weak economic or real estate conditions or natural disasters affect California, our business, financial condition and results of operations could be negatively impacted.

Consolidated Statements of Stockholders Equity - USD ($) $ in Thousands	Total	Common Stock Par Value [Member]	Additional Paid-in Capital [Member]	Retained Earnings (Deficit) [Member]	Cumulative Dividends [Member]	Accumulated Other Comprehensive Income [Member]	Non-controlling Interest in Operating Partnership [Member]
Beginning balance at Dec. 31, 2020	$ 1,299,970	$ 821	$ 1,424,787	$ 31,965	$ (291,652)	$ (11,351)	$ 145,400
Balance (in shares) at Dec. 31, 2020		82,106,256
Stock based compensation	5,050		833				4,217
Grant of unvested restricted stock (in shares)		35,865
Dividends and distributions paid	(99,994)				(88,243)		(11,751)
Redemption of common units to common stock		$ 3	4,827				(4,830)
Redemption of common units to common stock (in shares)		343,515
Contribution of Property for common units	20,791						20,791
Issuance of common stock, net	174,727	$ 77	174,650
Issuance of common stock, net (in shares)		7,662,232
Unrealized gain (loss) on interest rate swaps	7,080					6,279	801
Net income	33,957			30,058			3,899
Allocation of non-controlling interest in Operating Partnership			(385)				385
Balance at Dec. 31, 2021	1,441,581	$ 901	1,604,712	62,023	(379,895)	(5,072)	158,912
Balance (in shares) at Dec. 31, 2021		90,147,868
Stock based compensation	6,536		625				5,911
Grant of unvested restricted stock (in shares)		26,477
Dividends and distributions paid	(109,176)				(96,088)		(13,088)
Redemption of common units to common stock		$ 2	2,909				(2,911)
Redemption of common units to common stock (in shares)		204,751
Contribution of Property for common units	17,361						17,361
Issuance of common stock, net	9,399	$ 5	9,394
Issuance of common stock, net (in shares)		434,925
Unrealized gain (loss) on interest rate swaps	9,719					8,618	1,101
Net income	35,562			31,474			4,088
Allocation of non-controlling interest in Operating Partnership			5,273				(5,273)
Balance at Dec. 31, 2022	1,410,982	$ 908	1,622,913	93,497	(475,983)	3,546	166,101
Balance (in shares) at Dec. 31, 2022		90,814,021
Stock based compensation	5,747		553				5,194
Grant of unvested restricted stock (in shares)		32,486
Dividends and distributions paid	(112,379)				(100,336)		(12,043)
Redemption of common units to common stock		$ 59	78,341				(78,400)
Redemption of common units to common stock (in shares)		5,867,740
Contribution of Property for common units	219						219
Issuance of common stock, net	85,912	$ 43	85,869
Issuance of common stock, net (in shares)		4,259,000
Unrealized gain (loss) on interest rate swaps	(2,025)					(1,675)	(350)
Net income	21,060			18,804			2,256
Allocation of non-controlling interest in Operating Partnership			(4,338)				4,338
Balance at Dec. 31, 2023	$ 1,409,516	$ 1,010	$ 1,783,338	$ 112,301	$ (576,319)	$ 1,871	$ 87,315
Balance (in shares) at Dec. 31, 2023		100,973,247

Equity - Additional Information (Detail) - USD ($) $ in Millions						12 Months Ended
	Jan. 25, 2023	May 10, 2022	Dec. 28, 2021	Aug. 11, 2021	Dec. 20, 2019	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2023	Apr. 28, 2022
Stockholders Equity Note Disclosure [Line Items]
Common Stock, shares issued						100,973,247	90,814,021
Underwriters option to purchase additional shares				6,300,000
Contribution of property for common units, shares issued	12,391
Contribution of property for common units, partial consideration		827,791
Two Thousand Nineteen Dollar Two Hundred Millions A T M Program
Stockholders Equity Note Disclosure [Line Items]
Aggregate offering price of shares of common stock that the Company may issue and sell					$ 300.0
2019 ATM Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Gross sale of common stock available for grant						$ 80.6
Two Thousand Twenty One A T M Program
Stockholders Equity Note Disclosure [Line Items]
Number of Shares Sold						0
December 2021 ATM Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Gross sale of common stock available for grant						$ 300.0
Performance Based LTIP Units[Member]
Stockholders Equity Note Disclosure [Line Items]
Operating partnership dividend rate percentage								10.00%
Service Based LTIP Units[Member]
Stockholders Equity Note Disclosure [Line Items]
Operating partnership dividend rate percentage								100.00%
Director [Member] \| Share Repurchase Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Repurchase of common stock,percentage										5.00%
Maximum [Member] \| Director [Member] \| Share Repurchase Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Repurchase of common stock,shares						0				4,538,994
Easterly Funds [Member]
Stockholders Equity Note Disclosure [Line Items]
Common Stock, shares issued						5,867,740	204,751	343,515
Redemption of common units to common stock (in share)						5,867,740	204,751	343,515
Underwritten Public Offering [Member]
Stockholders Equity Note Disclosure [Line Items]
Common Stock, shares issued			3,991,000	6,300,000		2,309,000
Proceeds from issuance initial public offering			$ 85.0
Cash									$ 46.8

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	200,000,000	200,000,000
Common Stock, shares issued	100,973,247	90,814,021
Common Stock, shares outstanding	100,973,247	90,814,021

Equity

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Equity

9. Equity

Offering of Common Stock on a Forward Basis

On August 11, 2021, we completed an underwritten public offering of 6,300,000 shares of common stock offered on a forward basis. In connection with the offering, we also entered into separate forward sale agreements with each of the forward purchasers (the

“Forward Sales Agreements”), pursuant to which the forward purchasers borrowed and sold to the underwriters an aggregate of 6,300,000 shares of our common stock. On December 28, 2021, we issued 3,991,000 shares of our common stock for net proceeds of $85.0 million, which shares were issued in partial settlement of the Forward Sales Agreements entered into in connection with the underwritten public offering. During the year ended December 31, 2023, we issued 2,309,000 shares of common stock under the Forward Sale Agreements and received net cash proceeds of approximately $46.8 million. As of December 31, 2023, all shares of common stock under the Forward Sales Agreements had been issued and settled.

Redemption of Common Units to Common Stock

During the year ended December 31, 2021, we issued 343,515 shares of our common stock upon the redemption of 343,515 common units in accordance with the terms of the partnership agreement of the Operating Partnership. During the year ended December 31, 2022, we issued 204,751 shares of our common stock upon the redemption of 204,751 common units in accordance with the terms of the partnership agreement of the Operating Partnership. During the year ended December 31, 2023, we issued 5,867,740 shares of our common stock upon the redemption of 5,867,740 common units in accordance with the terms of the partnership agreement of the Operating Partnership.

Dividends and Distributions Paid

A summary of dividends declared by the board of directors per share of common stock and per common unit of our operating partnership at the date of record is as follows:


Quarter	Declaration Date	Record Date	Pay Date	Dividend
Q1 2021	April 29, 2021	May 14, 2021	May 26, 2021		0.260
Q2 2021	July 27, 2021	August 12, 2021	August 24, 2021		0.265
Q3 2021	October 28, 2021	November 12, 2021	November 24, 2021		0.265
Q4 2021	February 22, 2022	March 10, 2022	March 22, 2022		0.265
Q1 2022	April 27, 2022	May 13, 2022	May 25, 2022		0.265
Q2 2022	July 27, 2022	August 11, 2022	August 23, 2022		0.265
Q3 2022	October 26, 2022	November 11, 2022	November 23, 2022		0.265
Q4 2022	February 22, 2023	March 9, 2023	March 21, 2023		0.265
Q1 2023	April 26, 2023	May 11, 2023	May 23, 2023		0.265
Q2 2023	August 2, 2023	August 17, 2023	August 29, 2023		0.265
Q3 2023	October 26, 2023	November 9, 2023	November 21, 2023		0.265
Q4 2023	February 21, 2024	March 6, 2024	March 18, 2024		0.265

Prior to the end of the performance period as set forth in the applicable LTIP unit award, holders of performance-based LTIP units are entitled to receive dividends per LTIP unit equal to 10% of the dividend paid per common unit of our operating partnership. After the end of the performance period, the number of LTIP units, both vested and unvested, that LTIP award recipients have earned, if any, are entitled to receive dividends in an amount per LTIP unit equal to dividends, both regular and special, payable per common unit of our operating partnership. Holders of LTIP units that are not subject to the attainment of performance goals are entitled to receive dividends per LTIP unit equal to 100% of the dividend paid per common unit beginning on the grant date.

ATM Programs

We entered into separate equity distribution agreements on each of December 20, 2019 (the “2019 ATM Program”) and June 22, 2021 (the “2021 ATM Program” and, together with the 2019 ATM Program, the “ATM Programs”) with various financial institutions pursuant to which it may issue and sell shares of its common stock having an aggregate offering price of up to $300.0 million under each ATM Program from time to time in negotiated transactions or transactions that are deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act of 1933, as amended (the “Securities Act”). Under each of the ATM Programs, we may enter into one or more forward transactions (each, a “forward sale transaction”) under separate master forward sale confirmations and related supplemental confirmations with each of the various financial institutions party to the respective ATM Program for the sale of shares of its common stock on a forward basis.

The following table sets forth certain information with respect to issuances, made under the 2019 ATM Program in each fiscal year for the year ended December 31, 2023 (amounts in thousands except share amounts):


	2019 ATM Program
For the Year Ended:	Number of Shares Issued (1)		Net Proceeds (1)
December 31, 2021		3,671,232	$	90,005
December 31, 2022		434,925	$	9,409
December 31, 2023		1,950,000	$	39,279

(1)

Shares issued by us, which were all issued in settlement of forward sales transactions. Additionally, as of December 31, 2023 we had entered into a forward sales transaction under the 2019 ATM Program for the sale of an additional 500,000 shares of our common stock that have not yet been settled. Subject to our right to elect net share settlement, we expect to physically settle the forward sales transaction by December 2024, the maturity date, as set forth in the applicable forward sale transaction placement notice. Assuming the forward sales transaction is physically settled in full utilizing a net weighted average initial forward sales price of $13.52 per share, we expect to receive net proceeds of approximately $6.8 million, after deducting offering costs, subject to adjustments in accordance with the applicable forward sale transaction. We accounted for the forward sale transactions as equity.

No sales of shares of our common stock were made under the 2021 ATM Program during the year ended December 31, 2023.

We used the net proceeds received from such sales for general corporate purposes. As of December 31, 2023, we had $300.0 million of gross sales of its common stock available under the 2021 ATM Program and $80.6 million of gross sales of its common stock available under the 2019 ATM Program.

Share Repurchase Program

On April 28, 2022, our board of directors authorized a share repurchase program whereby we may repurchase up to 4,538,994 shares of its common stock, or approximately 5% of its outstanding shares as of the authorization date. We are not required to purchase shares under the share repurchase program, but may choose to do so in the open market or through privately negotiated transactions at times and amounts based on our evaluation of market conditions and other factors.

No repurchases of shares of our common stock were made under the share repurchase program during the year ended December 31, 2023.

Contribution of Property for Common Units

On January 25, 2023, the Operating Partnership issued 12,391 common units and fully settled a contingent earn-out liability in connection with our acquisition of FBI / DEA - El Paso on May 26, 2020. The issuance of the common units was effected in reliance upon an exemption from registration provided by Section 4(a)(2) under the Securities Act.

On May 10, 2022, we acquired NARA – Broomfield for which it issued, as partial consideration, 827,791 common units. The issuance of common units was effected in reliance upon an exemption from registration provided by Section 4(a)(2) under the Securities Act.

The entire disclosure for equity.

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Schedule III - Real Estate and Accumulated Depreciation - Carrying Amount of Real Estate Properties and Accumulated Depreciation (Parenthetical) (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($) ft²	Sep. 30, 2022 USD ($) ft²	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Real Estate Properties [Line Items]
Impairment loss				$ 5,540,000
ICE - Otay [Member]
Real Estate Properties [Line Items]
Impairment loss	$ 5,500,000	$ 5,500,000	$ 0	$ 5,500,000
ICE - Otay [Member] \| CALIFORNIA
Real Estate Properties [Line Items]
Area acquired \| ft²	47,919	47,919

Debt

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Debt

5. Debt

At December 31, 2023 and December 31, 2022 (dollars in thousands):


	Principal Outstanding						Interest	Current
Loan	December 31, 2023			December 31, 2022			Rate (1)	Maturity
Revolving credit facility:
Revolving credit facility (2)	$	79,000		$	65,500		S + 135bps	July 2025 (3)
Total revolving credit facility		79,000			65,500

Term loan facilities:
2016 term loan facility		100,000			100,000		5.05% (4)	March 2024 (5)
2018 term loan facility		200,000			150,000		5.39% (6)	July 2026
Total term loan facilities		300,000			250,000
Less: Total unamortized deferred financing fees		(892	)		(1,028	)
Total term loan facilities, net		299,108			248,972

Notes payable:
2017 series A senior notes		95,000			95,000		4.05%	May 2027
2017 series B senior notes		50,000			50,000		4.15%	May 2029
2017 series C senior notes		30,000			30,000		4.30%	May 2032
2019 series A senior notes		85,000			85,000		3.73%	September 2029
2019 series B senior notes		100,000			100,000		3.83%	September 2031
2019 series C senior notes		90,000			90,000		3.98%	September 2034
2021 series A senior notes		50,000			50,000		2.62%	October 2028
2021 series B senior notes		200,000			200,000		2.89%	October 2030
Total notes payable		700,000			700,000
Less: Total unamortized deferred financing fees		(3,468	)		(3,948	)
Total notes payable, net		696,532			696,052

Mortgage notes payable:
DEA – Pleasanton		—			15,700		L + 150bps (7)	(7)
VA – Golden		8,447			8,644		5.00% (8)	April 2024
USFS II – Albuquerque		11,603			13,438		4.46% (8)	July 2026
ICE – Charleston		11,998			13,441		4.21% (8)	January 2027
VA – Loma Linda		127,500			127,500		3.59% (8)	July 2027
CBP – Savannah		9,549			10,389		3.40% (8)	July 2033
USCIS - Kansas City		51,500			51,500		3.68% (8)	August 2024
Total mortgage notes payable		220,597			240,612
Less: Total unamortized deferred financing fees		(944	)		(1,405	)
Less: Total unamortized premium/discount		542			1,640
Total mortgage notes payable, net		220,195			240,847

Total debt	$	1,294,835		$	1,251,371

(1)

(2)

(3)

Our revolving credit facility has two six-month as-of-right extension options subject to certain conditions and the payment of an extension fee.

(4)

(5)

On January 23, 2024, we entered into the seventh amendment to the 2016 term loan facility to extend the maturity date of the loan agreement to January 30, 2025.

(6)

(7)

On January 26, 2023, we used $15.7 million of available cash to extinguish the $15.7 million mortgage note obligation on DEA – Pleasanton.

(8)

Effective interest rates are as follows: VA – Golden 5.03%, USFS II – Albuquerque 3.92%, ICE – Charleston 3.93%, VA – Loma Linda 3.78%, CBP – Savannah 4.12%, USCIS – Kansas City 2.05%.

As of December 31, 2023 and 2022, the net carrying value of real estate collateralizing our mortgages payable totaled $325.9 million and $356.8 million, respectively. We were not in default under any mortgage loan as of December 31, 2023. See Note 7 for the fair value of our debt instruments.

Senior Unsecured Credit Facility and 2016 Term Loan Facility

We are party to a second amended and restated senior unsecured credit agreement (the “second amended senior unsecured credit agreement”) governing our senior unsecured credit facility. The second amended senior unsecured credit agreement increased the borrowing capacity under our prior senior unsecured credit facility by $50.0 million for a total credit facility size of $650.0 million, consisting of: (i) our $450.0 million revolving credit facility, and (ii) our $200.0 million 2018 term loan facility, up to $50.0 million of which was available for a delayed draw period. Our revolving credit facility also includes an accordion feature that will provide us with additional capacity, subject to the satisfaction of customary terms and conditions, of up to $250.0 million.

We are also a party to a senior unsecured term loan agreement governing our $100.0 million 2016 term loan facility.

The Operating Partnership is the borrower, and certain of our subsidiaries that directly own certain of our properties are guarantors under our senior unsecured credit facility. Our revolving credit facility has an initial four-year term and will mature in July 2025, with two six-month as-of-right extension options, subject to certain conditions and the payment of an extension fee. Our 2018 term loan facility has a five-year term and will mature in July 2026. In addition, our 2018 term loan facility is prepayable without penalty for the entire term of the loan.

Borrowings under our senior unsecured credit facility bear interest, at our option, at floating rates equal to either:

•

a Eurodollar rate equal to a periodic fixed rate equal to SOFR plus, a margin ranging from 1.20% to 1.80% for advances under our revolving credit facility and a margin ranging from 1.20% to 1.70% for advances under our 2018 term loan facility; or

•

a fluctuating rate equal to the sum of (a) the highest of (x) Citibank, N.A.’s base rate, (y) the federal funds effective rate plus 0.50% and (z) the one-month Eurodollar rate plus 1.00% plus (b) a margin ranging from 0.20% to 0.80% for advances under our revolving credit facility and a margin ranging from 0.20% to 0.70% for advances under our 2018 term loan facility, in each case with a margin based on our leverage ratio.

If the Operating Partnership achieves certain sustainability targets as defined in the second amended senior unsecured credit agreement, the applicable margin will decrease by 0.01%.

2024 Activity

On January 2, 2024, the margin spreads under the second amended senior unsecured credit agreement were reduced by 1 basis point as a result of achieving our sustainability metric percentage.

On January 23, 2024, we entered into the seventh amendment to our senior unsecured term loan agreement, dated as of September 29, 2016, to extend the maturity date of our 2016 term loan facility from March 29, 2024 to January 30, 2025.

2023 Activity

On February 3, 2023, we entered into three SOFR-based interest rate swaps each with a notional value of $100.0 million that were designated as cash flow hedges of interest rate risk. Two of the interest rate swaps, with an aggregate notional value of $200.0 million, became effective in June 2023. The third swap, with a notional value of $100.0 million, became effective in September 2023. For more information on our interest rate swaps, see Note 6 to the Consolidated Financial Statements.

On May 30, 2023, we entered into the third amendment to our second amended and restated credit agreement, dated as of July 23, 2021 and into the sixth amendment to our senior unsecured term loan agreement, dated as of September 29, 2016. These amendments added a daily simple SOFR-based option to the term SOFR-based floating interest rate option as a benchmark rate for borrowings denominated in U.S. dollars for all purposes under the credit and term loan agreements, including, in each case, a credit spread adjustment of 0.10%.

On July 20, 2023, we exercised in full the $50.0 million delayed draw option on our 2018 term loan facility, increasing our 2018 term loan facility commitments from $150.0 million to $200.0 million, and transferred $50.0 million of our interest rate swap with a notional value of $100.0 million, from our revolving credit facility to the $50.0 million delayed draw.

2022 Activity

On July 22, 2022, we entered into the first amendment to the second amended and restated senior credit agreement, pursuant to which we extended the deadline for the $50.0 million delayed draw portion of the 2018 term loan facility to July 24, 2023 (from July 22, 2022).

On November 23, 2022, we entered into a second amendment to our second amended and restated senior credit agreement, pursuant to which we replaced the LIBOR-based floating interest rate option with a term SOFR-based floating interest rate option as a benchmark rate for borrowings denominated in U.S. dollars for all purposes under our senior unsecured credit facility, including a credit spread adjustment of 0.10%.

On July 23, 2021, we entered into a fourth amendment to the loan agreement governing our 2016 term loan facility in order to conform provisions for certain changes made to corresponding provisions in our second amended senior unsecured credit agreement governing our revolving credit facility and 2018 term loan facility.

On November 29, 2022, we entered into a fifth amendment to the loan agreement governing our 2016 term loan facility to replace the LIBOR-based floating interest rate option with a term SOFR-based floating interest rate option as a benchmark rate for borrowings denominated in U.S. dollars for all purposes under our 2016 term loan facility, including a credit spread adjustment of 0.10%.

The LIBOR transition amendments to our senior unsecured credit facility and our 2016 term loan facility relate to the replacement of the reference rate only in accordance with Accounting Codifications Standard 848 - Reference Rate Reform. There were no other changes to the swaps or hedged interest payments including no change to principal/notional, maturity date, floor, prepayment feature, or any other change that impacts the timing or amount of cash flows.

Mortgage Note Payoff

On October 27, 2022, we used $5.8 million of proceeds from the sale of the Disposition Portfolio Properties to extinguish the $5.8 million mortgage note obligation on MEPCOM – Jacksonville.

Financial Covenant Considerations

As of December 31, 2023, we were in compliance with all financial and other covenants related to our revolving credit facility, 2016 term loan facility, 2018 term loan facility, notes payable and mortgage notes payable.

Aggregate Debt Maturities

We aggregate debt maturities based on outstanding principal as of December 31, 2023 are as follows (dollars in thousands):


	Total
2024	$	164,298
2025		83,598
2026		210,054
2027		230,733
2028		50,983
Thereafter		559,931
		1,299,597
Unamortized premium/discount & deferred financing		(4,762	)
	$	1,294,835

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Real estate properties, net	$ 2,319,143	$ 2,285,308
Cash and cash equivalents	9,381	7,578
Restricted cash	12,558	9,696
Tenant accounts receivable	66,274	58,835
Investment in unconsolidated real estate venture	284,544	271,644
Intangible assets, net	148,453	157,282
Interest rate swaps	1,994	4,020
Prepaid expenses and other assets	37,405	35,022
Total assets	2,879,752	2,829,385
Liabilities
Revolving credit facility	79,000	65,500
Term loan facilities, net	299,108	248,972
Notes payable, net	696,532	696,052
Mortgage notes payable, net	220,195	240,847
Intangible liabilities, net	12,480	16,387
Deferred revenue	82,712	83,309
Accounts payable, accrued expenses and other liabilities	80,209	67,336
Total liabilities	1,470,236	1,418,403
Commitments and contingencies (Note 13)
Equity
Common stock, par value $0.01, 200,000,000 shares authorized, 100,973,247 and 90,814,021 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	1,010	908
Additional paid-in capital	1,783,338	1,622,913
Retained earnings	112,301	93,497
Cumulative dividends	(576,319)	(475,983)
Accumulated other comprehensive income	1,871	3,546
Total stockholders' equity	1,322,201	1,244,881
Non-controlling interest in Operating Partnership	87,315	166,101
Total equity	1,409,516	1,410,982
Total liabilities and equity	$ 2,879,752	$ 2,829,385

Equity - Schedule of Information with Respect to 2019 ATM Program (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Subsidiary Sale Of Stock [Line Items]
Net Proceeds	$ 86,472	$ 9,504	$ 175,929
2019 ATM Program [Member]
Subsidiary Sale Of Stock [Line Items]
Number of Shares Issued	1,950,000	434,925	3,671,232
Net Proceeds	$ 39,279	$ 9,409	$ 90,005

Investments in Unconsolidated Real Estate Venture - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) Property	Dec. 31, 2022 USD ($) Property	Dec. 31, 2021 USD ($)	Oct. 13, 2021 ft² Property
Subsequent Event [Line Items]
Asset management service revenue	$ 2.1	$ 1.4	$ 0.1
J V Partner \| Global Investor [Member]
Subsequent Event [Line Items]
Effective Ownership Interest				53.00%
J V Partner \| V A Lubbock V A Lenexa V A Chattanooga And V A San Antonio
Subsequent Event [Line Items]
Number of properties \| Property		4
J V Partner \| VA Birmingham, VA Marietta, VA Columbus and VA Phoenix [Member]
Subsequent Event [Line Items]
Purchase price		$ 273.2
J V Partner \| V A Portfolio [Member]
Subsequent Event [Line Items]
Number of properties \| Property	9			10
Area of properties acquired \| ft²				1,214,165
J V Partner \| VA - Corpus Christi [Member]
Subsequent Event [Line Items]
Purchase price	$ 34.5

Debt - Schedule of Aggregate Debt Maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024	$ 164,298
2025	83,598
2026	210,054
2027	230,733
2028	50,983
Thereafter	559,931
Debt instrument carrying amount	1,299,597
Unamortized premium/discount & deferred financing	(4,762)
Total debt, Principal Outstanding	$ 1,294,835	$ 1,251,371

Leases - Summary of Composition of Lease Revenue Recognized Between Fixed and Variable Components (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Leased Assets [Line Items]
Property rental revenue	$ 273,906	$ 284,488	$ 267,389
Fixed
Operating Leased Assets [Line Items]
Property rental revenue	254,017	265,126	248,399
Variable
Operating Leased Assets [Line Items]
Property rental revenue	$ 19,889	$ 19,362	$ 18,990

Real Estate and Intangibles - Schedule of Real Estate and Intangibles (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real estate properties, net
Land	$ 221,999	$ 213,592
Building	2,349,846	2,266,674
Acquired tenant improvements	85,949	81,872
Construction in progress	52,426	44,452
Accumulated depreciation	(391,077)	(321,282)
Total Real estate properties, net	2,319,143	2,285,308
Intangible assets, net
Accumulated amortization	(225,725)	(205,565)
Total Intangible assets, net	148,453	157,282
Intangible liabilities, net
Intangible Liabilities, Below market leases	(72,037)	(72,088)
Intangible Liabilities, Accumulated amortization	59,557	55,701
Total Intangible liabilities, net	(12,480)	(16,387)
Leases, Acquired-in-Place [Member]
Intangible assets, net
Above market leases	280,604	273,077
Acquired Leasing Commissions [Member]
Intangible assets, net
Above market leases	72,560	68,756
Above Market Leases [Member]
Intangible assets, net
Above market leases	14,620	14,620
Payment in Lieu of Taxes [Member]
Intangible assets, net
Above market leases	$ 6,394	$ 6,394

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

The preparation of the consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the balance sheet and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Real Estate Properties

•


Category		Term
Buildings		40 years
Building improvements		5 - 40 years
Tenant improvements		Generally shorter of the remaining life of the lease or useful life
Furniture and equipment		3 - 7 years

Cash and Cash Equivalents

Restricted Cash

Investment in Unconsolidated Real Estate Venture

Receivables and Credit Losses

Non-tenant receivables are included in Prepaid expenses and other assets on the accompanying Consolidated Balance Sheets.

Deferred Costs

Interest Rate Swaps

Please refer to Note 6 for more information pertaining to interest rate derivatives.

Fair Value Measurements

Recurring fair value measurements

Please refer to Note 7 for more information pertaining to fair value measurements.

Deferred Revenue

Non-Controlling Interests

Revenue Recognition

Other income includes income on the associated tenant reimbursement construction projects, parking income and other miscellaneous income.

Sales of Properties

We recognize gains from sales of consolidated interests in properties to non-customer third parties when we have transferred control of such interests.

Income Taxes


	For the years ended December 31,
	2023			2022			2021
Ordinary income		40.31	%		47.48	%		54.43	%
Long-term capital gain		0.00	%		0.00	%		0.00	%
Return of capital		59.69	%		52.52	%		45.57	%

Stock Based Compensation

Earnings Per Share of Common Stock Amount

Segments

Reclassifications

Certain prior year amounts have been reclassified to conform to the current year presentation.

Recent Accounting Pronouncements Not Yet Adopted

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Income (Loss)	$ 18,804	$ 31,474	$ 30,058

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Unconsolidated Real Estate Ventures [Abstract]

Leases - Summary of Maturity of Fixed Lease Payments Under Our Leases (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
Fixed lease payments, Total	$ 2,113,973
Fixed lease payments, 2024	231,160
Fixed lease payments, 2025	225,140
Fixed lease payments, 2026	211,886
Fixed lease payments, 2027	199,504
Fixed lease payments, 2028	180,211
Fixed lease payments, Thereafter	$ 1,066,072

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

11. Leases

Lessor

We lease commercial space to the U.S. Government through the GSA or other federal agencies or nongovernmental tenants. These leases may contain extension options that are predominately at the sole discretion of the tenant. Certain of our leases contain a “soft-term” period of the lease, meaning that the U.S. Government tenant agency has the right to terminate the lease prior to its stated lease end date. While certain of our leases are contractually subject to early termination, we do not believe that our tenant agencies are likely to terminate these leases early given the build-to-suit features at the properties subject to the leases, the weighted average age of these properties based on the date the property was built or renovated-to-suit, where applicable (approximately 19.0 years as of December 31, 2023), the mission-critical focus of the properties subject to the leases and the current level of operations at such properties. Certain lease agreements include variable lease payments that, in the future, will vary based on changes in inflationary measures, real estate tax rates, usage, or share of expenditures of the leased premises.

The following table summarizes the maturity of fixed lease payments under our leases as of December 31, 2023 (amounts in thousands):


	Payments due by period
	Total		2024		2025		2026		2027		2028		Thereafter
Fixed lease payments	$	2,113,973		231,160		225,140		211,886		199,504		180,211		1,066,072

The table below sets forth our composition of lease revenue recognized between fixed and variable components (amounts in thousands):


	Years Ended December 31,
	2023		2022		2021
Fixed	$	254,017	$	265,126	$	248,399
Variable		19,889		19,362		18,990
Property rental revenue		273,906		284,488		267,389

Information about our leases for our development property as of December 31, 2023 is set forth in the table below:

        Property Name

        Location

        Tenant

        Property
Type (1)

        Lease Term

        Estimated Leased
Square
Feet

        FDA - Atlanta

        Atlanta, GA

         Food and Drug Administration

        L

        20-year

        162,000

        Total

        162,000

(1)

L=Laboratory

Lessee

We lease corporate office space under operating lease arrangements in Washington, D.C. and San Diego, CA. The leases include variable lease payments that, in the future, will vary based on changes in real estate tax rates, usage, or share of expenditures of the leased premises. We have elected not to separate lease and non-lease components for our corporate office leases.

As of December 31, 2023, the unamortized balances associated with our right-of-use operating lease asset and operating lease liability were $3.0 million and $3.0 million, respectively. As of December 31, 2022, the unamortized balance associated with our right-of-use operating lease asset and operating lease liability for our two commenced office leases was $3.5 million and $3.5 million, respectively. Our right-of-use operating lease asset and operating lease liability were included in “Prepaid expenses and other assets” and “Accounts payable, accrued expenses and other liabilities” on the Consolidated Balance Sheets, respectively as of December 31, 2023, and 2022. We used our incremental borrowing rate, which was arrived at utilizing prevailing market rates and the spread on our revolving credit facility, in order to determine the net present value of the minimum lease payments.

The following table provides quantitative information for our commenced operating leases for the year ended December 31, 2023, 2022 and 2021 (amounts in thousands):


	Years Ended December 31,
	2023			2022			2021
Cash flows from operating lease costs	$	620		$	624		$	421

Other Information
Weighted average remaining lease term (in years)		4.67			5.62			4.51
Weighted average discount rate		3.19	%		3.15	%		2.36	%

In addition, the maturity of future minimum lease payments under our commenced corporate office leases as of December 31, 2023 is summarized in the table below (amounts in thousands):


Year ending December 31,	Payments due by period
2024		768
2025		793
2026		661
2027		368
2028		385
Thereafter		333
Total future minimum lease payments	$	3,308
Imputed interest		(330	)
Total	$	2,978

Real Estate and Intangibles - Additional Information (Detail)		3 Months Ended	9 Months Ended	12 Months Ended
	Oct. 27, 2022 USD ($)	Sep. 30, 2022 USD ($) ft²	Sep. 30, 2022 USD ($) ft²	Dec. 31, 2023 USD ($) Property	Dec. 31, 2022 USD ($) Property	Dec. 31, 2021 USD ($)	Oct. 12, 2022 ft²
Real Estate Properties [Line Items]
Revenues				$ 287,227,000	$ 293,606,000	$ 274,860,000
Net Income (Loss)				18,804,000	31,474,000	30,058,000
Acquisition-related expenses				1,661,000	1,370,000	1,939,000
Net proceeds from the sale of operating property					202,416,000	7,336,000
Gain on the sale of operating properties					13,590,000	1,307,000
Gain from sale of disposition portfolio properties	$ 5,800,000
Impairment loss					5,540,000
Amortization of intangible assets				21,100,000	25,700,000	25,400,000
Amortization of above- / below-market leases				$ (2,730,000)	$ (3,105,000)	$ (4,589,000)
CALIFORNIA
Real Estate Properties [Line Items]
Number of properties \| Property				18	17
Second Amended Purchase And Sale Agreement [Member]
Real Estate Properties [Line Items]
Gain from sale of disposition portfolio properties					$ 13,600,000
Area of properties acquired \| ft²							668,000
Operating Properties Acquired [Member]
Real Estate Properties [Line Items]
Number of properties \| Property				0
Weighted average amortization period				10 years 5 months 15 days	15 years 3 months 14 days
Revenues				$ 1,500,000	$ 5,300,000
Net Income (Loss)				400,000	1,800,000
Acquisition-related expenses				$ 1,700,000	1,400,000
FBI Tampa, NARA and JUD [Member] \| Operating Properties Acquired [Member]
Real Estate Properties [Line Items]
Purchase price					108,100,000
CA - Anaheim, DHS - Atlanta and JUD - Newport News \| Operating Properties Acquired [Member]
Real Estate Properties [Line Items]
Number of properties \| Property				3
Purchase price				$ 63,100,000
ICE Otay [Member]
Real Estate Properties [Line Items]
Impairment loss		$ 5,500,000	$ 5,500,000	$ 0	$ 5,500,000
ICE Otay [Member] \| CALIFORNIA
Real Estate Properties [Line Items]
Area of properties acquired \| ft²		47,919	47,919

Real Estate and Intangibles - Amortization of Total Intangible Assets and Intangible Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real Estate [Abstract]
2024	$ 20,088
2025	17,712
2026	16,593
2027	14,666
2028	12,248
Thereafter	67,146
Intangible assets, Total	148,453
2024	(2,938)
2025	(2,246)
2026	(2,008)
2027	(1,783)
2028	(1,238)
Thereafter	(2,267)
Intangible liabilities, Total	$ (12,480)	$ (16,387)

Equity - Schedule of Information with Respect to 2019 ATM Program (Parenthetical) (Detail) - Underwritten Public Offering [Member] - 2019 ATM Program [Member] $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Subsidiary Sale Of Stock [Line Items]
Number of unsettled common stock shares sold \| shares	500,000
Weighted average price per share \| $ / shares	$ 13.52
Net proceeds from unsettled common stock shares sold \| $	$ 6.8

Consolidated Statements of Stockholders Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends and distributions paid	$ 1.06	$ 1.06	$ 1.05

Investments in Unconsolidated Real Estate Venture (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Investment in Unconsolidated Real Estate Ventures

The following is a summary of our investment in our unconsolidated real estate venture (dollars in thousands):


		As of December 31,
Joint Venture	Ownership Interest	2023		2022
MedBase Venture	53.0%	$	284,544	$	271,644

Summary of Financial Information for Unconsolidated Real Estate Venture

The following is a summary of financial information for our unconsolidated real estate venture:


	As of December 31,
Balance sheet information:	2023		2022
Real estate, net	$	449,956	$	430,823
Other assets, net (1)		97,190		90,100
Total assets	$	547,146	$	520,923

Total liabilities (2)	$	10,854	$	9,026
Total equity		536,292		511,897
Total liabilities and equity	$	547,146	$	520,923

Company’s share of equity	$	284,169	$	271,269
Basis differential (3)		375		375
Carrying value of the Company’s investment in the unconsolidated venture	$	284,544	$	271,644

(1)

(2)

(3)

This amount represents the aggregate difference between our historical cost basis and the basis reflected at the joint venture level.


	For the year ended December 31,
Income statement information:	2023		2022		2021
Total revenue	$	40,693	$	25,898	$	1,864
Operating income		10,567		6,530		548
Net income		10,402		6,366		512

Company’s share of net income	$	5,498	$	3,374	$	271

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swaps-Asset	$ 1,994	$ 4,020
Fair Value, Recurring \| Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swaps-Asset	$ 1,994	$ 4,020

Derivative and Hedging Activities - Schedule of Fair Value of Our Interest Rate Derivatives as Well as Their Classification on Our Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest rate swaps-Asset	$ 1,994	$ 4,020

Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

10. Earnings Per Share

Basic earnings or loss per share of common stock (“EPS”) is calculated by dividing net income or loss attributable to common stockholders by the weighted average shares of common stock outstanding for the periods presented. Diluted EPS is computed after adjusting the basic EPS computation for the effect of dilutive common equivalent shares outstanding during the periods presented. Unvested restricted shares of common stock and unvested LTIP units are considered participating securities which require the use of the two-class method for the computation of basic and diluted earnings per share. The following table sets forth the computation of our basic and diluted earnings per share of common stock for the years ended December 31, 2023, 2022 and 2021 (dollars in thousands, except per share amounts):


	For the years ended December 31,
	2023			2022			2021
Numerator
Net income	$	21,060		$	35,562		$	33,957
Less: Non-controlling interest in Operating Partnership		(2,256	)		(4,088	)		(3,899	)
Net income available to Easterly Government Properties, Inc.		18,804			31,474			30,058
Less: Dividends on participating securities		(599	)		(546	)		(470	)
Net income available to common stockholders	$	18,205		$	30,928		$	29,588
Denominator for basic EPS		94,264,166			90,613,966			84,043,012
Dilutive effect of share-based compensation awards		18,128			19,336			52,500
Dilutive effect of LTIP units (1)		269,685			315,399			434,631
Dilutive effect of shares issuable under forward sales agreements (2)		4,076			—			89,247
Denominator for diluted EPS		94,556,055			90,948,701			84,619,390
Basic EPS	$	0.19		$	0.34		$	0.35
Diluted EPS	$	0.19		$	0.34		$	0.35

(1)

(2)

Derivative and Hedging Activities - Schedule of Key Terms and Fair Values of Our Interest Rate Swap Derivatives (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest Swap Rate at 4.01% Fixed Rate [Member]
Derivative [Line Items]
Aggregate notional value of interest rate swaps	$ 100,000,000
Forward swaps interest rate	4.01%
Floating Rate Index	USD-SOFR with -5 Day Lookback
Forward swaps effective date	Jun. 23, 2023
Expiration Date	Mar. 23, 2025
Fair Value	$ 599,000
Interest Swap Rate at 4.18% Fixed Rate [Member]
Derivative [Line Items]
Aggregate notional value of interest rate swaps	$ 100,000,000
Forward swaps interest rate	4.18%
Floating Rate Index	USD-SOFR with -5 Day Lookback
Forward swaps effective date	Jun. 23, 2023
Expiration Date	Dec. 23, 2024
Fair Value	$ 501,000
Interest Swap Rate at 3.70% Fixed Rate [Member]
Derivative [Line Items]
Aggregate notional value of interest rate swaps	$ 100,000,000
Forward swaps interest rate	3.70%
Floating Rate Index	USD-SOFR with -5 Day Lookback
Forward swaps effective date	Sep. 29, 2023
Expiration Date	Jun. 29, 2025
Fair Value	$ 894,000
Interest Swap Rate at 1.37% Fixed Rate [Member]
Derivative [Line Items]
Aggregate notional value of interest rate swaps	$ 100,000,000
Forward swaps interest rate	1.37%
Floating Rate Index	One-Month SOFR
Forward swaps effective date	Nov. 29, 2022
Expiration Date	Sep. 29, 2023
Fair Value		$ 2,530,000
Interest Swap Rate at 2.58% Fixed Rate [Member]
Derivative [Line Items]
Aggregate notional value of interest rate swaps	$ 150,000,000
Forward swaps interest rate	2.58%
Floating Rate Index	One-Month SOFR
Forward swaps effective date	Dec. 23, 2022
Expiration Date	Jun. 19, 2023
Fair Value		$ 1,490,000

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Summary of Maturity of Fixed Lease Payments Under Our Leases

The following table summarizes the maturity of fixed lease payments under our leases as of December 31, 2023 (amounts in thousands):


	Payments due by period
	Total		2024		2025		2026		2027		2028		Thereafter
Fixed lease payments	$	2,113,973		231,160		225,140		211,886		199,504		180,211		1,066,072

Summary of Composition of Lease Revenue Recognized Between Fixed and Variable Components

The table below sets forth our composition of lease revenue recognized between fixed and variable components (amounts in thousands):


	Years Ended December 31,
	2023		2022		2021
Fixed	$	254,017	$	265,126	$	248,399
Variable		19,889		19,362		18,990
Property rental revenue		273,906		284,488		267,389

Schedule of Information about Leases for Development Properties

Information about our leases for our development property as of December 31, 2023 is set forth in the table below:

        Property Name

        Location

        Tenant

        Property
Type (1)

        Lease Term

        Estimated Leased
Square
Feet

        FDA - Atlanta

        Atlanta, GA

         Food and Drug Administration

        L

        20-year

        162,000

        Total

        162,000

Schedule of Quantitative Information for Our Operating Leases

The following table provides quantitative information for our commenced operating leases for the year ended December 31, 2023, 2022 and 2021 (amounts in thousands):


	Years Ended December 31,
	2023			2022			2021
Cash flows from operating lease costs	$	620		$	624		$	421

Other Information
Weighted average remaining lease term (in years)		4.67			5.62			4.51
Weighted average discount rate		3.19	%		3.15	%		2.36	%

Schedule of Maturity of Fixed Lease Payments Under Our Corporate Office Leases

In addition, the maturity of future minimum lease payments under our commenced corporate office leases as of December 31, 2023 is summarized in the table below (amounts in thousands):


Year ending December 31,	Payments due by period
2024		768
2025		793
2026		661
2027		368
2028		385
Thereafter		333
Total future minimum lease payments	$	3,308
Imputed interest		(330	)
Total	$	2,978

Fair Value Measurements - Additional Information (Detail)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss				$ 5,540,000
ICE - Otay [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment loss	$ 5,500,000	$ 5,500,000	$ 0	$ 5,500,000
ICE - Otay [Member] \| Cash Flow Discount Rate [Member] \| Cash Flow [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment, Measurement Input			0.0625
ICE - Otay [Member] \| Cash Flow Discount Rate [Member] \| Cash Flow [Member] \| Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment, Measurement Input			0.09
ICE - Otay [Member] \| Measurement Input Average Price Per Square Foot of Comparable Sales [Member] \| Market Approach [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment, Measurement Input			1.0908
ICE - Otay [Member] \| Measurement Input Average Price Per Square Foot of Comparable Sales [Member] \| Market Approach [Member] \| Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Alternative Investment, Measurement Input			1.859

Equity Incentive Plan - Summary of Grants (Parenthetical) (Details) - shares			12 Months Ended
	Jan. 19, 2024	Jan. 17, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operational \| January 4, 2021 \| Subsequent Event [Member]
Units vested		91,384
Operational Performance \| January 4, 2021
Units Earned			91,384
Units Granted					82,108
Vest Date			Jan. 17, 2024
Operational Performance \| January 3, 2022
Units Granted				80,160
Operational Performance \| January 3, 2023
Units Granted			127,291
TSR Performance Shares \| January 4, 2021
Units Earned			0
Units Granted					82,070
TSR Performance Shares \| January 3, 2022
Units Granted				158,535
TSR Performance Shares \| January 3, 2023
Units Granted			148,633
Services
Vest Date			Dec. 31, 2023
Transition and separation agreement date			Dec. 06, 2023
Services \| William C. Trimble, III
Units Granted			75,044
Grant Date			Jan. 03, 2023
Services \| January 4, 2021
Units vested					106,963
Units Granted					113,703
Vest Date					Dec. 31, 2023
Services \| January 3, 2022
Units Granted			37,392	110,906
Vest Date				Dec. 31, 2024
Grant Date			Jan. 03, 2022
Services \| January 3, 2023
Units Granted			219,859
Vest Date			Dec. 31, 2025
Long Term Incentive Plan
Units Granted			515,465	360,839	284,528
Long Term Incentive Plan \| Subsequent Event [Member]
Units Granted	69,419

Equity (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Summary of Dividends Declared

A summary of dividends declared by the board of directors per share of common stock and per common unit of our operating partnership at the date of record is as follows:


Quarter	Declaration Date	Record Date	Pay Date	Dividend
Q1 2021	April 29, 2021	May 14, 2021	May 26, 2021		0.260
Q2 2021	July 27, 2021	August 12, 2021	August 24, 2021		0.265
Q3 2021	October 28, 2021	November 12, 2021	November 24, 2021		0.265
Q4 2021	February 22, 2022	March 10, 2022	March 22, 2022		0.265
Q1 2022	April 27, 2022	May 13, 2022	May 25, 2022		0.265
Q2 2022	July 27, 2022	August 11, 2022	August 23, 2022		0.265
Q3 2022	October 26, 2022	November 11, 2022	November 23, 2022		0.265
Q4 2022	February 22, 2023	March 9, 2023	March 21, 2023		0.265
Q1 2023	April 26, 2023	May 11, 2023	May 23, 2023		0.265
Q2 2023	August 2, 2023	August 17, 2023	August 29, 2023		0.265
Q3 2023	October 26, 2023	November 9, 2023	November 21, 2023		0.265
Q4 2023	February 21, 2024	March 6, 2024	March 18, 2024		0.265

Schedule of Information with Respect to 2019 ATM Program


	2019 ATM Program
For the Year Ended:	Number of Shares Issued (1)		Net Proceeds (1)
December 31, 2021		3,671,232	$	90,005
December 31, 2022		434,925	$	9,409
December 31, 2023		1,950,000	$	39,279

(1)

Equity - Summary of Dividends Declared (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Dividends Payable [Line Items]
Dividend	$ 1.06	$ 1.06	$ 1.05
Q1 2021 [Member]
Dividends Payable [Line Items]
Declaration Date	Apr. 29, 2021
Record Date	May 14, 2021
Pay Date	May 26, 2021
Dividend	$ 0.260
Q2 2021 [Member]
Dividends Payable [Line Items]
Declaration Date	Jul. 27, 2021
Record Date	Aug. 12, 2021
Pay Date	Aug. 24, 2021
Dividend	$ 0.265
Q3 2021 [Member]
Dividends Payable [Line Items]
Declaration Date	Oct. 28, 2021
Record Date	Nov. 12, 2021
Pay Date	Nov. 24, 2021
Dividend	$ 0.265
Q4 2021 [Member]
Dividends Payable [Line Items]
Declaration Date	Feb. 22, 2022
Record Date	Mar. 10, 2022
Pay Date	Mar. 22, 2022
Dividend	$ 0.265
Q1 2022 [Member]
Dividends Payable [Line Items]
Declaration Date	Apr. 27, 2022
Record Date	May 13, 2022
Pay Date	May 25, 2022
Dividend	$ 0.265
Q2 2022 [Member]
Dividends Payable [Line Items]
Declaration Date	Jul. 27, 2022
Record Date	Aug. 11, 2022
Pay Date	Aug. 23, 2022
Dividend	$ 0.265
Q3 2022 [Member]
Dividends Payable [Line Items]
Declaration Date	Oct. 26, 2022
Record Date	Nov. 11, 2022
Pay Date	Nov. 23, 2022
Dividend	$ 0.265
Q4 2022 [Member]
Dividends Payable [Line Items]
Declaration Date	Feb. 22, 2023
Record Date	Mar. 09, 2023
Pay Date	Mar. 21, 2023
Dividend	$ 0.265
Q1 2023 [Member]
Dividends Payable [Line Items]
Declaration Date	Apr. 26, 2023
Record Date	May 11, 2023
Pay Date	May 23, 2023
Dividend	$ 0.265
Q2 2023 [Member]
Dividends Payable [Line Items]
Declaration Date	Aug. 02, 2023
Record Date	Aug. 17, 2023
Pay Date	Aug. 29, 2023
Dividend	$ 0.265
Q3 2023 [Member]
Dividends Payable [Line Items]
Declaration Date	Oct. 26, 2023
Record Date	Nov. 09, 2023
Pay Date	Nov. 21, 2023
Dividend	$ 0.265
Q4 2023 [Member]
Dividends Payable [Line Items]
Declaration Date	Feb. 21, 2024
Record Date	Mar. 06, 2024
Pay Date	Mar. 18, 2024
Dividend	$ 0.265

Leases - Additional Information (Detail) $ in Millions	12 Months Ended
Leases - Additional Information (Detail) $ in Millions	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) Agreement
Lessee Lease Description [Line Items]
Average age of property	19 years
Number of lease agreement \| Agreement		2
Operating lease liability	$ 3.0	$ 3.5
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid expenses and other assets	Prepaid expenses and other assets
Right-of-use asset	$ 3.0	$ 3.5

Debt - Summary of Borrowings (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Total revolving credit facility, Principal Outstanding

$ 79,000

$ 65,500

Total term loan facilities, net, Principal Outstanding

1,299,597

299,108

248,972

Total notes payable, net, Principal Outstanding

696,532

696,052

Total mortgage notes payable, net, Principal Outstanding

220,195

240,847

Total debt, Principal Outstanding

1,294,835

1,251,371

Notes Payable [Member]

Less: Total unamortized deferred financing fees

700,000

(3,468)

(3,948)

Mortgage Notes Payable [Member]

Less: Total unamortized deferred financing fees

220,597

240,612

(944)

(1,405)

Less: Total unamortized premium/discount

542

1,640

Mortgage Notes Payable [Member] | CBP Savannah [Member]

$ 9,549

10,389

^[1],[2]

3.40%

Mortgage Notes Payable [Member] | ICE Charleston [Member]

2033-07

$ 11,998

13,441

^[1],[2]

4.21%

Mortgage Notes Payable [Member] | USFS II Albuquerque [Member]

2027-01

$ 11,603

13,438

^[1],[2]

4.46%

Mortgage Notes Payable [Member] | DEA Pleasanton [Member]

2026-07

15,700

Mortgage Notes Payable [Member] | VA Loma Linda [Member]

^[1],[3]

L + 150bps

$ 127,500

127,500

^[1],[2]

3.59%

Mortgage Notes Payable [Member] | VA Golden [Member]

2027-07

$ 8,447

8,644

^[1],[2]

5.00%

Mortgage Notes Payable [Member] | USCIS - Kansas City [Member]

2024-04

$ 51,500

51,500

^[1],[2]

3.68%

2016 Term Loan Facility [Member]

2024-08

$ 100,000

100,000

^[1],[4]

5.05%

2018 Term Loan Facility [Member]

^[5]

2024-03

$ 200,000

150,000

^[1],[6]

5.39%

Term Loan Facility [Member]

2026-07

Less: Total unamortized deferred financing fees

$ 300,000

250,000

(892)

(1,028)

Total term loan facilities, net, Principal Outstanding

$ 299,108

248,972

2017 series A senior notes [Member]

^[1]

4.05%

2017 series A senior notes [Member] | Senior Unsecured Notes Payable

2027-05

2017 series B senior notes [Member]

$ 95,000

95,000

^[1]

4.15%

2017 series B senior notes [Member] | Senior Unsecured Notes Payable

2029-05

2017 series C senior notes [Member]

$ 50,000

50,000

^[1]

4.30%

2017 series C senior notes [Member] | Senior Unsecured Notes Payable

2032-05

2019 series A senior notes [Member]

$ 30,000

30,000

^[1]

3.73%

2019 series A senior notes [Member] | Senior Unsecured Notes Payable

2029-09

2019 series B senior notes [Member]

$ 85,000

85,000

^[1]

3.83%

2019 series B senior notes [Member] | Senior Unsecured Notes Payable

2031-09

2019 series C senior notes [Member]

$ 100,000

100,000

^[1]

3.98%

2019 series C senior notes [Member] | Senior Unsecured Notes Payable

2034-09

2021 Series A Senior Notes [Member]

$ 90,000

90,000

^[1]

2.62%

2021 Series A Senior Notes [Member] | Senior Unsecured Notes Payable

2028-10

2021 Series B Senior Notes [Member]

$ 50,000

50,000

^[1]

2.89%

2021 Series B Senior Notes [Member] | Senior Unsecured Notes Payable

2030-10

Revolving Credit Facility [Member]

$ 200,000

200,000

Total revolving credit facility, Principal Outstanding

^[7]

$ 79,000

$ 65,500

^[1],[7]

S + 135bps