0000950170-24-050565 | 10-Q | XBRL Viewer | Easterly Government Properties INC

As of March 31,

Joint Venture

Ownership Interest

MedBase Venture

Print Document

Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
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	102,354,702	100,973,247
Common Stock, shares outstanding	102,354,702	100,973,247

Debt

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Debt

5. Debt

At March 31, 2024, our consolidated borrowings consisted of the following (amounts in thousands):


	Principal Outstanding			Interest	Current
Loan	March 31, 2024			Rate (1)	Maturity
Revolving credit facility:
Revolving credit facility (2)	$	144,500		S + 134 bps	July 2025 (3)
Total revolving credit facility		144,500

Term loan facilities:
2016 term loan facility		100,000		5.05% (4)	January 2025
2018 term loan facility		200,000		5.38% (5)	July 2026
Total term loan facilities		300,000
Less: Total unamortized deferred financing fees		(1,083	)
Total term loan facilities, net		298,917

Notes payable:
2017 series A senior notes		95,000		4.05%	May 2027
2017 series B senior notes		50,000		4.15%	May 2029
2017 series C senior notes		30,000		4.30%	May 2032
2019 series A senior notes		85,000		3.73%	September 2029
2019 series B senior notes		100,000		3.83%	September 2031
2019 series C senior notes		90,000		3.98%	September 2034
2021 series A senior notes		50,000		2.62%	October 2028
2021 series B senior notes		200,000		2.89%	October 2030
Total notes payable		700,000
Less: Total unamortized deferred financing fees		(3,345	)
Total notes payable, net		696,655

Mortgage notes payable:
VA – Golden		8,395		5.00% (6)	April 2024(7)
USFS II – Albuquerque		11,122		4.46% (6)	July 2026
ICE – Charleston		11,627		4.21% (6)	January 2027
VA – Loma Linda		127,500		3.59% (6)	July 2027
CBP – Savannah		9,335		3.40% (6)	July 2033
USCIS – Kansas City		51,500		3.68% (6)	August 2024
Total mortgage notes payable		219,479
Less: Total unamortized deferred financing fees		(830	)
Less: Total unamortized premium/discount		267
Total mortgage notes payable, net		218,916

Total debt	$	1,358,988

(1)

At March 31, 2024, the USD SOFR with a five day lookback (“S”) was 5.31%. 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 $305.4 million at March 31, 2024 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)

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

(5)

Our 2018 term loan facility is subject to two interest rate swaps with an effective date of June 23, 2023 and an aggregate notional value of $200.0 million, which effectively fixes the interest rate at 5.38% annually, based on our consolidated leverage ratio, as defined in our 2018 term loan facility agreement.

(6)

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%.

(7)

On April 1, 2024, we used $8.4 million of available cash to extinguish the mortgage note obligation on VA – Golden.

As of March 31, 2024, the net carrying value of real estate collateralizing our mortgages payable totaled $323.5 million. See Note 7 for the fair value of our debt instruments.

On January 2, 2024, the margin spreads under the second amended senior unsecured credit agreement, that governs our revolving credit facility and 2018 term loan facility, 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 the senior unsecured term loan agreement, dated as of September 29, 2016, that governs our 2016 term loan facility to extend the maturity date of our 2016 term loan facility from March 29, 2024 to January 30, 2025.

Financial Covenant Considerations

As of March 31, 2024, we were in compliance with all financial and other covenants related to our debt.

- Definition

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.

+ References

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-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

+ Details

Equity - Additional Information (Detail) - USD ($) $ in Millions				3 Months Ended
	Apr. 10, 2024	Jun. 22, 2021	Dec. 20, 2019	Mar. 31, 2024	Dec. 31, 2023	Apr. 28, 2022
Stockholders Equity Note Disclosure [Line Items]
Common Stock, shares issued				102,354,702	100,973,247
Board of Directors [Member] \| Share Repurchase Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Repurchase of common stock,percentage						5.00%
Board of Directors [Member] \| Share Repurchase Program [Member] \| Maximum [Member]
Stockholders Equity Note Disclosure [Line Items]
Repurchase of common stock,shares				0		4,538,994
2019 ATM Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Aggregate offering price of shares of common stock that the Company may issue and sell			$ 300.0
Gross sale of common stock available for grant				$ 79.3
2021 ATM Programs [Member]
Stockholders Equity Note Disclosure [Line Items]
Aggregate offering price of shares of common stock that the Company may issue and sell		$ 300.0
Number of Shares Sold				0
Gross sale of common stock available for grant				$ 300.0
Underwritten Public Offering [Member] \| 2019 ATM Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Number of unsettled common stock shares sold				589,647
Subsequent Event [Member] \| 2019 ATM Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Number of settled common stock shares	589,647
Proceeds received	$ 7.9

Earnings Per Share

3 Months Ended

Mar. 31, 2024

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 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 three months ended March 31, 2024 and 2023 (amounts in thousands, except per share amounts):


	For the three months ended March 31,
	2024			2023
Numerator
Net income	$	4,884		$	4,414
Less: Non-controlling interest in Operating Partnership		(258	)		(523	)
Net income available to Easterly Government Properties, Inc.		4,626			3,891
Less: Dividends on participating securities		(148	)		(148	)
Net income available to common stockholders	$	4,478		$	3,743
Denominator for basic EPS		101,993,143			91,099,357
Dilutive effect of share-based compensation awards		27,143			23,556
Dilutive effect of LTIP units (1)		214,726			206,227
Dilutive effect of shares issuable under forward sale agreements (2)		—			—
Denominator for diluted EPS		102,235,012			91,329,140
Basic EPS	$	0.04		$	0.04
Diluted EPS	$	0.04		$	0.04

(1)

During the three months ended March 31, 2024 and 2023, there were 491,498 and 347,419 unvested performance-based LTIP units, respectively, that were not included in the computation of diluted EPS because to do so would have been antidilutive for the period.

(2)

During the three months ended March 31, 2024 and 2023, there were 589,647 and 1,700,000 shares, respectively, of underlying unsettled forward sales transactions that were not included in the computation of diluted EPS because to do so would have been antidilutive for the period.

Leases - Schedule of Quantitative Information for Company's Operating Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Cash flows from operating lease costs	$ 191	$ 131

Equity - Summary of Changes In Stockholders' Equity (Parenthetical) (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Equity [Abstract]
Dividends and distributions paid, per share	$ 0.265	$ 0.265

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

3 Months Ended

Mar. 31, 2024

Mar. 31, 2023

Earnings Per Share Basic And Diluted [Line Items]

Net income

$ 4,884

$ 4,414

Less: Non-controlling interest in Operating Partnership

(258)

(523)

Net income available to Easterly Government Properties, Inc.

4,626

3,891

Less: Dividends on participating securities

(148)

Net income available to common stockholders

$ 4,478

$ 3,743

Denominator for basic EPS

101,993,143

91,099,357

Denominator for diluted EPS

102,235,012

91,329,140

Basic EPS

$ 0.04

Diluted EPS

$ 0.04

Stock Compensation Plan [Member]

Earnings Per Share Basic And Diluted [Line Items]

Dilutive effect

27,143

23,556

Long Term Incentive Plan

Earnings Per Share Basic And Diluted [Line Items]

Dilutive effect

^[1]

214,726

206,227

[1]	During the three months ended March 31, 2024 and 2023, there were 491,498 and 347,419 unvested performance-based LTIP units, respectively, that were not included in the computation of diluted EPS because to do so would have been antidilutive for the period.

Revenue - Summary of Revenue from Tenant Construction Projects Disaggregated by Tenant Agency (Detail) - ASU 2014-09 [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	$ 1,122	$ 2,310
Department of Veteran Affairs ("VA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	588	933
U.S Joint Staff Command ("JSC") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	164	602
Federal Bureau of Investigation ("FBI") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	61	323
U.S. Coast Guard ("USCG") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income		147
Customs and Border Protection ("CBP") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	139	79
Department of Transportation ("DOT") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	3	120
The Judiciary of the U.S. Government ("JUD") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	36	4
Immigration and Customs Enforcement ("ICE") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income		71
Federal Emergency Management Agency ("FEMA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income		19
Food And Drug Administration ("FDA") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	124	9
Internal Revenue Service ("IRS") [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	1	$ 3
General Services Administration - Other [Member]
Disaggregation Of Revenue [Line Items]
Tenant Construction Project Income	$ 6

Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Summary of Borrowings

At March 31, 2024, our consolidated borrowings consisted of the following (amounts in thousands):


	Principal Outstanding			Interest	Current
Loan	March 31, 2024			Rate (1)	Maturity
Revolving credit facility:
Revolving credit facility (2)	$	144,500		S + 134 bps	July 2025 (3)
Total revolving credit facility		144,500

Term loan facilities:
2016 term loan facility		100,000		5.05% (4)	January 2025
2018 term loan facility		200,000		5.38% (5)	July 2026
Total term loan facilities		300,000
Less: Total unamortized deferred financing fees		(1,083	)
Total term loan facilities, net		298,917

Notes payable:
2017 series A senior notes		95,000		4.05%	May 2027
2017 series B senior notes		50,000		4.15%	May 2029
2017 series C senior notes		30,000		4.30%	May 2032
2019 series A senior notes		85,000		3.73%	September 2029
2019 series B senior notes		100,000		3.83%	September 2031
2019 series C senior notes		90,000		3.98%	September 2034
2021 series A senior notes		50,000		2.62%	October 2028
2021 series B senior notes		200,000		2.89%	October 2030
Total notes payable		700,000
Less: Total unamortized deferred financing fees		(3,345	)
Total notes payable, net		696,655

Mortgage notes payable:
VA – Golden		8,395		5.00% (6)	April 2024(7)
USFS II – Albuquerque		11,122		4.46% (6)	July 2026
ICE – Charleston		11,627		4.21% (6)	January 2027
VA – Loma Linda		127,500		3.59% (6)	July 2027
CBP – Savannah		9,335		3.40% (6)	July 2033
USCIS – Kansas City		51,500		3.68% (6)	August 2024
Total mortgage notes payable		219,479
Less: Total unamortized deferred financing fees		(830	)
Less: Total unamortized premium/discount		267
Total mortgage notes payable, net		218,916

Total debt	$	1,358,988

(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)

(6)

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%.

(7)

On April 1, 2024, we used $8.4 million of available cash to extinguish the mortgage note obligation on VA – Golden.

Earnings Per Share - Summary of Basic and Diluted Earnings Per Common Share (Parenthetical) (Detail) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
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	491,498	347,419
Underlying Unsettled Forward Sales Transactions [Member]
Earnings Per Share Basic And Diluted [Line Items]
Antidilutive securities excluded from computation of earnings per share amount	589,647	1,700,000

Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

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):


	For the three months ended March 31,
	2024		2023
Fixed	$	65,436	$	62,924
Variable		5,310		5,224
Rental income		70,746		68,148

Schedule of Quantitative Information for Our Operating Leases

The following table provides quantitative information for our commenced operating leases for the three months ended March 31, 2024 and 2023 (amounts in thousands):


	For the three months ended March 31,
	2024		2023
Cash flows from operating lease costs	$	191	$	131

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

In addition, the maturity of fixed lease payments under our commenced corporate office leases as of March 31, 2024 is summarized in the table below (amounts in thousands):


Corporate office leases	Payments due by period
2024 (1)		578
2025		793
2026		661
2027		368
2028		385
Thereafter		333
Total future minimum lease payments	$	3,118
Imputed interest		(306	)
Total	$	2,812

(1)

Represents the nine months ending December 31, 2024.

Equity (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Summary of Changes In Stockholders' Equity

The following table summarizes the changes in our stockholders’ equity for the three months ended March 31, 2024 and 2023 (amounts in thousands, except share amounts):


	Shares		Common Stock Par Value		Additional Paid-in Capital			Retained Earnings		Cumulative Dividends			Accumulated Other Comprehensive Income			Non- controlling Interest in Operating Partnership			Total Equity
Three months ended March 31, 2024
Balance at December 31, 2023		100,973,247	$	1,010	$	1,783,338		$	112,301	$	(576,319	)	$	1,871		$	87,315		$	1,409,516
Stock based compensation		—		—		123			—		—			—			1,106			1,229
Dividends and distributions paid ($0.265 per share)		—		—		—			—		(27,124	)		—			(1,561	)		(28,685	)
Redemption of common units for shares of common stock		1,381,455		14		18,074			—		—			—			(18,088	)		—
Unrealized gain on interest rate swaps		—		—		—			—		—			882			20			902
Net income		—		—		—			4,626		—			—			258			4,884
Allocation of non-controlling interest in Operating Partnership		—		—		(231	)		—		—			—			231			—
Balance at March 31, 2024		102,354,702	$	1,024	$	1,801,304		$	116,927	$	(603,443	)	$	2,753		$	69,281		$	1,387,846
Three months ended March 31, 2023
Balance at December 31, 2022		90,814,021	$	908	$	1,622,913		$	93,497	$	(475,983	)	$	3,546		$	166,101		$	1,410,982
Stock based compensation		—		—		145			—		—			—			1,523			1,668
Dividends and distributions paid ($0.265 per share)		—		—		—			—		(24,068	)		—			(3,395	)		(27,463	)
Grant of unvested restricted stock		6,686		—		—			—		—			—			—			—
Redemption of common units for shares of common stock		10,199		—		140			—		—			—			(140	)		—
Issuance of common stock, net		2,559,000		26		52,206			—		—			—			—			52,232
Contribution of property for common units		—		—		—			—		—			—			219			219
Unrealized loss on interest rate swaps, net		—		—		—			—		—			(1,773	)		(240	)		(2,013	)
Net income		—		—		—			3,891		—			—			523			4,414
Allocation of non-controlling interest in Operating Partnership		—		—		(2,937	)		—		—			—			2,937			—
Balance at March 31, 2023		93,389,906	$	934	$	1,672,467		$	97,388	$	(500,051	)	$	1,773		$	167,528		$	1,440,039

Summary of Dividends Declared

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


Quarter	Declaration Date	Record Date	Payment Date	Dividend (1)
Q1 2024	April 25, 2024	May 9, 2024	May 21, 2024	0.265

(1)

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. 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. 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.

Investments in Unconsolidated Real Estate Venture - Summary of Investments in JV (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Investment in unconsolidated real estate venture	$ 282,879	$ 284,544
MedBase Venture [Member]
Related Party Transaction [Line Items]
Effective Ownership Interest	53.00%
Investment in unconsolidated real estate venture	$ 282,879

Equity

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Equity

9. Equity

The following table summarizes the changes in our stockholders’ equity for the three months ended March 31, 2024 and 2023 (amounts in thousands, except share amounts):


	Shares		Common Stock Par Value		Additional Paid-in Capital			Retained Earnings		Cumulative Dividends			Accumulated Other Comprehensive Income			Non- controlling Interest in Operating Partnership			Total Equity
Three months ended March 31, 2024
Balance at December 31, 2023		100,973,247	$	1,010	$	1,783,338		$	112,301	$	(576,319	)	$	1,871		$	87,315		$	1,409,516
Stock based compensation		—		—		123			—		—			—			1,106			1,229
Dividends and distributions paid ($0.265 per share)		—		—		—			—		(27,124	)		—			(1,561	)		(28,685	)
Redemption of common units for shares of common stock		1,381,455		14		18,074			—		—			—			(18,088	)		—
Unrealized gain on interest rate swaps		—		—		—			—		—			882			20			902
Net income		—		—		—			4,626		—			—			258			4,884
Allocation of non-controlling interest in Operating Partnership		—		—		(231	)		—		—			—			231			—
Balance at March 31, 2024		102,354,702	$	1,024	$	1,801,304		$	116,927	$	(603,443	)	$	2,753		$	69,281		$	1,387,846
Three months ended March 31, 2023
Balance at December 31, 2022		90,814,021	$	908	$	1,622,913		$	93,497	$	(475,983	)	$	3,546		$	166,101		$	1,410,982
Stock based compensation		—		—		145			—		—			—			1,523			1,668
Dividends and distributions paid ($0.265 per share)		—		—		—			—		(24,068	)		—			(3,395	)		(27,463	)
Grant of unvested restricted stock		6,686		—		—			—		—			—			—			—
Redemption of common units for shares of common stock		10,199		—		140			—		—			—			(140	)		—
Issuance of common stock, net		2,559,000		26		52,206			—		—			—			—			52,232
Contribution of property for common units		—		—		—			—		—			—			219			219
Unrealized loss on interest rate swaps, net		—		—		—			—		—			(1,773	)		(240	)		(2,013	)
Net income		—		—		—			3,891		—			—			523			4,414
Allocation of non-controlling interest in Operating Partnership		—		—		(2,937	)		—		—			—			2,937			—
Balance at March 31, 2023		93,389,906	$	934	$	1,672,467		$	97,388	$	(500,051	)	$	1,773		$	167,528		$	1,440,039

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


Quarter	Declaration Date	Record Date	Payment Date	Dividend (1)
Q1 2024	April 25, 2024	May 9, 2024	May 21, 2024	0.265

(1)

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 we may issue and sell shares of our 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 our common stock on a forward basis.

As of March 31, 2024, we had forward sales transactions outstanding under the 2019 ATM Program for the sale of 589,647 shares of our common stock that had not yet been settled.

On April 10, 2024, we settled the 589,647 shares under our 2019 ATM Program and received $7.9 million of net proceeds. 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 three months ended March 31, 2024.

As of March 31, 2024, we had approximately $300.0 million of gross sales of our common stock available under the 2021 ATM Program and $79.3 million of gross sales of 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 our common stock, or approximately 5% of our 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 three months ended March 31, 2024.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Tenant accounts receivable	$ 73,092	$ 66,274
ASU 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Accounts receivable related to tenant construction projects	7,700	9,600
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]
Total revenues	100	100
Tenant accounts receivable	$ 100	$ 100

- Definition

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.

+ References + Details

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues
Rental income	$ 70,746	$ 68,148
Asset management income	550	517
Total revenues	72,800	71,220
Expenses
Property operating	16,592	17,888
Real estate taxes	8,229	7,468
Depreciation and amortization	23,800	23,081
Acquisition costs	419	461
Corporate general and administrative	6,455	7,295
Total expenses	55,495	56,193
Other income (expense)
Income from unconsolidated real estate venture	1,415	1,402
Interest expense, net	(13,836)	(12,015)
Net income	4,884	4,414
Non-controlling interest in Operating Partnership	(258)	(523)
Net income available to Easterly Government Properties, Inc.	$ 4,626	$ 3,891
Net income available to Easterly Government Properties, Inc. per share:
Basic	$ 0.04	$ 0.04
Diluted	$ 0.04	$ 0.04
Weighted-average common shares outstanding
Basic	101,993,143	91,099,357
Diluted	102,235,012	91,329,140
Dividends declared per common share	$ 0.265	$ 0.265
Tenant Reimbursements [Member]
Revenues
Total revenues	$ 1,017	$ 2,075
Other Income [Member]
Revenues
Total revenues	$ 487	$ 480

Investments in Unconsolidated Real Estate Venture - Additional Information (Details) - JV [Member]	Mar. 31, 2024 Property	Oct. 13, 2021 ft² Property
Unconsolidated Real Estate Venture [Line Items]
Number of properties	0
VA Portfolio [Member]
Unconsolidated Real Estate Venture [Line Items]
Number of properties	9	10
Area of properties acquired \| ft²		1,214,165
Global Investor [Member]
Unconsolidated Real Estate Venture [Line Items]
Effective Ownership Interest		53.00%

Equity Incentive Plan - Additional Information (Details) - Long Term Incentive Plan - 2015 Equity Incentive Plan [Member] - shares			3 Months Ended
	Jan. 19, 2024	Jan. 02, 2024	Mar. 31, 2024
Stockholders Equity Note Disclosure [Line Items]
Units Granted	69,419	193,993
Aggregate Service-based units granted		201,150
Vest date	Dec. 31, 2026	Dec. 31, 2026
Expected volatility			24.00%
Risk-free interest rate			4.10%
Expected life			3 years
Minimum
Stockholders Equity Note Disclosure [Line Items]
Dividend yield			6.60%
Maximum
Stockholders Equity Note Disclosure [Line Items]
Dividend yield			6.70%
Total Shareholder Return Performance Thresholds
Stockholders Equity Note Disclosure [Line Items]
Units Granted		77,256
Operational Performance Hurdles
Stockholders Equity Note Disclosure [Line Items]
Units Granted		116,737

Derivatives and Hedging Activities

3 Months Ended

Mar. 31, 2024

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 as of March 31, 2024. We entered into these interest rate swap derivatives to reduce our exposure to the variability in future cash flows attributable to changes in our 2016 term loan facility and 2018 term loan facility (amounts in thousands):


Notional Amount		Fixed Rate			Floating Rate Index	Effective Date	Expiration Date	Fair Value
$	100,000		4.01	%	USD-SOFR with -5 Day Lookback	June 23, 2023	March 23, 2025	$	904
$	100,000		4.18	%	USD-SOFR with -5 Day Lookback	June 23, 2023	December 23, 2024	$	648
$	100,000		3.70	%	USD-SOFR with -5 Day Lookback	September 29, 2023	June 29, 2025	$	1,345

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


Balance Sheet Line Item	As of March 31, 2024
Interest rate swaps	$	2,897

Cash Flow Hedges of Interest Rate Risk

The gains or losses on derivatives designated and that qualify as cash flow hedges are recorded in Accumulated other comprehensive income (“AOCI”) and will be reclassified to interest expense in the period that the hedged forecasted transactions affect earnings on our variable rate debt.

We estimate that $3.7 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) (amounts in thousands):


	For the three months ended March 31,
	2024		2023
Unrealized gain (loss) recognized in AOCI	$	1,932	$	(506	)
Gain reclassified from AOCI into interest expense		1,030		1,507

Credit-Risk-Related Contingent Features

We have agreements with each of our derivative counterparties that contain a provision where we could be declared in default on our derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to our default on such indebtedness. As of March 31, 2024, we were not in a net liability position with any derivative counterparty. As of March 31, 2024, we were in compliance with these agreements and had not posted any collateral related to these agreements.

Real Estate and Intangibles - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) Property	Mar. 31, 2023 USD ($)
Real Estate Properties [Line Items]
Acquisition-related expenses \| $	$ 419	$ 461
Operating Properties Acquired [Member]
Real Estate Properties [Line Items]
Number of properties \| Property	0

Consolidated Statements of Cash Flows (Parenthetical) (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Cash Flows [Abstract]
Capitalized interest	$ 672	$ 339

Derivative and Hedging Activities - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Estimates reclassified from accumulated other comprehensive income (loss) decrease to interest expense over the next 12 months	$ 3,700,000
Credit risk related contingent features derivatives, net fair value of derivatives in liability position	$ 0

Concentrations Risk

3 Months Ended

Mar. 31, 2024

Risks and Uncertainties [Abstract]

Concentrations Risk

13. Concentrations Risk

Concentrations of credit risk arise for us when multiple of our tenants 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 obligations owed 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 non-governmental tenants. At March 31, 2024, the U.S. Government accounted for approximately 97.4% of our total annualized lease income, state and local government tenants accounted for approximately 1.1% of our annualized lease income and non-governmental tenants accounted for the remaining approximately 1.5%.

Eighteen of our 90 wholly-owned and unconsolidated operating properties are located in California, accounting for approximately 15.6% of our total leased square feet and approximately 20.2% of our total annualized lease income as of March 31, 2024. To the extent that weak economic or real estate conditions or natural disasters affect California more severely than other areas of the country, our business, financial condition and results of operations could be significantly impacted.

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on Recurring Basis

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 measured at fair value on a recurring basis as of March 31, 2024, aggregated by the level in the fair value hierarchy within which those measurements fall (amounts in thousands):


	As of March 31, 2024
Balance Sheet Line Item	Level 1		Level 2		Level 3
Interest rate swaps	$	—	$	2,897	$	—

Schedule of Fair Value Financial Assets And Liabilities Not measured At Fair Value

As of March 31, 2024, 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:


	As of March 31, 2024
Financial liabilities	Carrying Amount (1)		Fair Value (2)

Revolving credit facility	$	144,500	$	144,500
2016 term loan facility	$	100,000	$	100,000
2018 term loan facility	$	200,000	$	200,000
Notes payable	$	700,000	$	612,213
Mortgages payable	$	219,479	$	207,483

(1)

The carrying amount consists of principal only.

(2)

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

Leases

3 Months Ended

Mar. 31, 2024

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 19.4 years as of March 31, 2024), 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 table below sets forth our composition of lease revenue recognized between fixed and variable components (amounts in thousands):


	For the three months ended March 31,
	2024		2023
Fixed	$	65,436	$	62,924
Variable		5,310		5,224
Rental income		70,746		68,148

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 March 31, 2024, the unamortized balances associated with our right-of-use operating lease asset and operating lease liability were both $2.8 million. 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 three months ended March 31, 2024 and 2023 (amounts in thousands):


	For the three months ended March 31,
	2024		2023
Cash flows from operating lease costs	$	191	$	131

In addition, the maturity of fixed lease payments under our commenced corporate office leases as of March 31, 2024 is summarized in the table below (amounts in thousands):


Corporate office leases	Payments due by period
2024 (1)		578
2025		793
2026		661
2027		368
2028		385
Thereafter		333
Total future minimum lease payments	$	3,118
Imputed interest		(306	)
Total	$	2,812

(1)

Represents the nine months ending December 31, 2024.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Fair Value Measurements

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

7. 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 our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our 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 our 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 March 31, 2024 were classified as Level 2 of the fair value hierarchy.


	As of March 31, 2024
Balance Sheet Line Item	Level 1		Level 2		Level 3
Interest rate swaps	$	—	$	2,897	$	—

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.

Financial assets and liabilities not measured at fair value


	As of March 31, 2024
Financial liabilities	Carrying Amount (1)		Fair Value (2)

Revolving credit facility	$	144,500	$	144,500
2016 term loan facility	$	100,000	$	100,000
2018 term loan facility	$	200,000	$	200,000
Notes payable	$	700,000	$	612,213
Mortgages payable	$	219,479	$	207,483

(1)

The carrying amount consists of principal only.

(2)

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

- Definition

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.

+ References + Details

Related Parties

3 Months Ended

Mar. 31, 2024

Related Parties

14. 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. During each of the three months ended March 31, 2024 and 2023, we were responsible for reimbursing costs of $0.1 million and received reimbursement for costs of less than $0.1 million.

We provide asset management services to properties owned by the JV. For the three months ended March 31, 2024 and 2023, we recognized Asset management income of $0.6 million and $0.5 million, respectively, and reimbursement for certain costs that we paid on their behalf of $0.4 million and $0.2 million, respectively.

As of March 31, 2024, Accounts receivable from related parties was $0.2 million. As of March 31, 2024, there were no Accounts payable, accrued expenses and other liabilities owed to related parties.

- Definition

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.

+ References

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-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
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

Equity - Summary of Dividends Declared (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Dividends Payable [Line Items]
Dividend	$ 0.265	$ 0.265
Q1 2024 [Member]
Dividends Payable [Line Items]
Declaration Date	Apr. 25, 2024
Record Date	May 09, 2024
Payment Date	May 21, 2024
Dividend	$ 0.265

Concentrations Risk - Additional Information (Detail)	3 Months Ended
Concentrations Risk - Additional Information (Detail)	Mar. 31, 2024 Property
Wholly Owned Properties [Member]
Concentration Risk [Line Items]
Number of properties	90
CALIFORNIA
Concentration Risk [Line Items]
Number of properties	18
Lease Income [Member] \| Credit Concentration Risk [Member] \| CALIFORNIA
Concentration Risk [Line Items]
Percentage of concentrations risk	20.20%
Rentable Square Feet [Member] \| Credit Concentration Risk [Member] \| CALIFORNIA
Concentration Risk [Line Items]
Percentage of concentrations risk	15.60%
U.S. Government [Member] \| Lease Income [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	97.40%
Non Governmental Tenants [Member] \| Lease Income [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	1.50%
State and Local Government Tenants [Member] \| Lease Income [Member] \| Credit Concentration Risk [Member]
Concentration Risk [Line Items]
Percentage of concentrations risk	1.10%

Real Estate and Intangibles

3 Months Ended

Mar. 31, 2024

Real Estate [Abstract]

Real Estate and Intangibles

3. Real Estate and Intangibles

Consolidated Real Estate and Intangibles

Real estate and intangibles consisted of the following as of March 31, 2024 (amounts in thousands):


	Total
Real estate properties, net
Land	$	221,999
Building and improvements		2,359,074
Acquired tenant improvements		85,949
Construction in progress		79,776
Accumulated depreciation		(409,491	)
Total Real estate properties, net		2,337,307
Intangible assets, net
In-place leases		280,604
Acquired leasing commissions		72,560
Above market leases		14,620
Payment in lieu of taxes		6,394
Accumulated amortization		(231,134	)
Total Intangible assets, net		143,044
Intangible liabilities, net
Below market leases		(72,037	)
Accumulated amortization		60,444
Total Intangible liabilities, net		(11,593	)

No operating properties were acquired or disposed of during the three months ended March 31, 2024.

During the three months ended March 31, 2024, we incurred $0.4 million of acquisition-related expenses mainly consisting of internal costs associated with future property acquisitions.

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 March 31, 2024 (amounts in thousands):


	Acquired Above-Market Lease Intangibles		Acquired Below-Market Lease Intangibles
2024 (1)	$	836	$	(2,051	)
2025		1,097		(2,246	)
2026		1,096		(2,008	)
2027		1,096		(1,783	)
2028		725		(1,238	)

(1)

Represents the nine months ending December 31, 2024.

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.

Debt - Additional Information (Detail)		3 Months Ended
Debt - Additional Information (Detail)	Jan. 02, 2024	Mar. 31, 2024 USD ($) Swap	Jun. 23, 2023 Swap
Debt Instrument [Line Items]
Net carrying value of real estate collateralizing the mortgage		$ 323,500,000
Margin spread percentage	0.01%
Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Aggregate notional value of interest rate swaps		$ 200,000,000.0
SOFR [Member]
Debt Instrument [Line Items]
Loan, interest rate		5.31%
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
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amount available under revolving credit facility		$ 305,400,000
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

Equity - Summary of Dividends Declared (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2024
Performance Based LTIP Units[Member]
Dividends Payable [Line Items]
Operating partnership dividend rate percentage	10.00%
Service Based LTIP Units[Member]
Dividends Payable [Line Items]
Operating partnership dividend rate percentage	100.00%

Related Parties - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Reimbursement Cost Paid	$ 400,000	$ 200,000
Accounts payable, accrued expenses and other liabilities	95,642,000		$ 80,209,000
Asset management income	550,000	517,000
JV [Member]
Related Party Transaction [Line Items]
Asset management income	600,000	500,000
Certain Entities Controlled by Chairman [Member]
Related Party Transaction [Line Items]
Reimbursable rent and office expense due to related party	100,000	100,000
Accounts payable, accrued expenses and other liabilities	0
Certain Entities Controlled by Vice Chairman [Member]
Related Party Transaction [Line Items]
Reimbursable payroll expenses interest and defeasance costs due from related party	100,000	$ 100,000
Reimbursements accounts receivable	$ 200,000

Real Estate and Intangibles - Schedule of Real Estate and Intangibles (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Real estate properties, net
Land	$ 221,999
Building and improvements	2,359,074
Acquired tenant improvements	85,949
Construction in progress	79,776
Accumulated depreciation	(409,491)
Total Real estate properties, net	2,337,307	$ 2,319,143
Intangible assets, net
Accumulated amortization	(231,134)
Total Intangible assets, net	143,044
Intangible liabilities, net
Intangible Liabilities, Below market leases	(72,037)
Intangible Liabilities, Accumulated amortization	60,444
Total Intangible liabilities, net	(11,593)
Leases, Acquired-in-Place [Member]
Intangible assets, net
Above market leases	280,604
Acquired Leasing Commissions [Member]
Intangible assets, net
Above market leases	72,560
Above Market Leases [Member]
Intangible assets, net
Above market leases	14,620
Payment in Lieu of Taxes [Member]
Intangible assets, net
Above market leases	$ 6,394

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	Mar. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest rate swaps	$ 2,897	$ 1,994

Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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


Notional Amount		Fixed Rate			Floating Rate Index	Effective Date	Expiration Date	Fair Value
$	100,000		4.01	%	USD-SOFR with -5 Day Lookback	June 23, 2023	March 23, 2025	$	904
$	100,000		4.18	%	USD-SOFR with -5 Day Lookback	June 23, 2023	December 23, 2024	$	648
$	100,000		3.70	%	USD-SOFR with -5 Day Lookback	September 29, 2023	June 29, 2025	$	1,345

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 Sheet (amounts in thousands):


Balance Sheet Line Item	As of March 31, 2024
Interest rate swaps	$	2,897

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) (amounts in thousands):


	For the three months ended March 31,
	2024		2023
Unrealized gain (loss) recognized in AOCI	$	1,932	$	(506	)
Gain reclassified from AOCI into interest expense		1,030		1,507

- Definition

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.

+ References + Details

Subsequent Events

3 Months Ended

Mar. 31, 2024

Subsequent Events [Abstract]

Subsequent Events

15. Subsequent Events

For our consolidated financial statements as of March 31, 2024, we evaluated subsequent events and noted the following significant events.

On April 1, 2024, we used $8.4 million of available cash to extinguish the mortgage note obligation on VA – Golden.

On April 4, 2024, we acquired land to develop a 50,777 square foot Federal courthouse in Flagstaff, Arizona. The courthouse will be primarily leased to the GSA for beneficial use of the Judiciary of the U.S. Government (“JUD”) over a 20 year non-cancelable term.

On April 12, 2024, we acquired a 129,046 leased square foot U.S. Immigration and Customs Enforcement (“ICE”) facility near Dallas, Texas. The building was renovated to suit in 2020. The facility is primarily leased to the GSA for beneficial use of ICE and has lease expirations ranging from 2032 to 2040.

Revenue

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

12. Revenue

The table below sets forth revenue from tenant construction projects and the associated project management income disaggregated by tenant agency for the three months ended March 31, 2024 and 2023 (amounts in thousands):


	For the three months ended March 31,
Tenant	2024		2023

Department of Veteran Affairs (“VA”)	$	588	$	933
U.S. Joint Staff Command (“JSC”)		164		602
Customs and Border Protection (“CBP”)		139		79
Food and Drug Administration (“FDA”)		124		9
Federal Bureau of Investigation (“FBI”)		61		323
The Judiciary of the U.S. Government (“JUD”)		36		4
General Services Administration - Other		6		—
Department of Transportation (“DOT”)		3		120
Internal Revenue Service (“IRS”)		1		3
U.S. Coast Guard (“USCG”)		—		147
Immigration and Customs Enforcement (“ICE”)		—		71
Federal Emergency Management Agency (“FEMA”)		—		19
	$	1,122	$	2,310

As of March 31, 2024 and December 31, 2023, the balance in Accounts receivable related to tenant construction projects and the associated project management income was $7.7 million and $9.6 million, respectively.

The duration of the majority of tenant construction project reimbursement arrangements is 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 on-going as of March 31, 2024 with a duration of greater than one year.

During each of the three months ended March 31, 2024 and 2023, we recognized $0.1 million in parking garage income. The monthly and transient daily parking revenue falls within the scope of Revenue from Contracts with Customers (“ASC 606”) 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 both March 31, 2024 and December 31, 2023, the balance in Accounts receivable related to parking garage income was less than $0.1 million.

There were no contract assets or liabilities as of March 31, 2024 or December 31, 2023.

- Definition

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.

+ References

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

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

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Leases - Schedule of Maturity of Fixed Lease Payments Under Company's Corporate Office Leases (Detail) - Corporate Office Leases [Member]
$ in Thousands

Mar. 31, 2024

USD ($)

Schedule Of Future Minimum Rental Payments For Operating Leases [Line Items]

2024

$ 578

^[1]

793

661

368

385

333

Total future minimum lease payments

3,118

Imputed interest

(306)

Total

$ 2,812

[1]	Represents the nine months ending December 31, 2024.

Investments in Unconsolidated Real Estate Venture

3 Months Ended

Mar. 31, 2024

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 the JV (dollars in thousands):

On October 13, 2021, we formed an unconsolidated real estate venture, which we refer to as 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. We have joint approval rights with our JV partner on major decisions, including those regarding property operations. As such, the Company holds a non-controlling interest in the joint venture and accounts for the JV under the equity method of accounting.

No operating properties were acquired by the JV during the three months ended March 31, 2024. As of March 31, 2024, nine of the ten properties in the VA Portfolio had been acquired by the JV.

Subsequent Events - Additional Information (Detail) $ in Thousands			3 Months Ended
	Apr. 12, 2024 ft²	Apr. 01, 2024 USD ($)	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($)	Apr. 04, 2024 ft²
Subsequent Event [Line Items]
Mortgage note obligation			$ 1,117	$ 16,744
Net proceeds from the settlement of shares				$ 52,414
Subsequent Event [Member] \| VA Golden [Member]
Subsequent Event [Line Items]
Mortgage note obligation		$ 8,400
Subsequent Event [Member] \| The Judiciary of the U.S. Government ("JUD") [Member] \| Arizona [Member]
Subsequent Event [Line Items]
Area of properties acquired \| ft²					50,777
Leased period					20 years
Subsequent Event [Member] \| Immigration and Customs Enforcement ("ICE") [Member] \| Texas [Member]
Subsequent Event [Line Items]
Area of properties acquired \| ft²	129,046
Subsequent Event [Member] \| Immigration and Customs Enforcement ("ICE") [Member] \| Maximum [Member] \| Texas [Member]
Subsequent Event [Line Items]
Lease expirations year	2040
Subsequent Event [Member] \| Immigration and Customs Enforcement ("ICE") [Member] \| Minimum [Member] \| Texas [Member]
Subsequent Event [Line Items]
Lease expirations year	2032

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

3 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 4,626	$ 3,891

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net income	$ 4,884	$ 4,414
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	23,800	23,081
Straight line rent	(856)	(463)
Income from unconsolidated real estate venture	(1,415)	(1,402)
Amortization of above- / below-market leases	(594)	(700)
Amortization of unearned revenue	(1,604)	(1,484)
Amortization of loan premium / discount	(275)	(270)
Amortization of deferred financing costs	582	514
Amortization of lease inducements	258	216
Distributions from investment in unconsolidated real estate venture	3,079	2,158
Non-cash compensation	1,229	1,668
Net change in:
Tenant accounts receivable	1,339	734
Prepaid expenses and other assets	(6,458)	(4,313)
Deferred revenue associated with operating leases	510	55
Principal payments on operating lease obligations	(166)	(127)
Accounts payable, accrued expenses and other liabilities	(422)	(2,456)
Net cash provided by operating activities	23,891	21,625
Cash flows from investing activities
Real estate acquisitions and deposits	(612)	124
Additions to operating properties	(7,906)	(7,756)
Additions to development properties	(12,945)	(2,944)
Investment in loan receivable	(3,440)
Net cash used in investing activities	(24,903)	(10,576)
Cash flows from financing activities
Payment of deferred financing costs	(350)
Issuance of common shares		52,414
Credit facility draws	73,000	20,750
Credit facility repayments	(7,500)	(36,750)
Repayments of mortgage notes payable	(1,117)	(16,744)
Dividends and distributions paid	(28,686)	(27,464)
Payment of offering costs	(172)	(56)
Net cash provided by (used in) financing activities	35,175	(7,850)
Net increase in Cash and cash equivalents and Restricted cash	34,163	3,199
Cash and cash equivalents and Restricted cash, beginning of period	21,939	17,274
Cash and cash equivalents and Restricted cash, end of period	56,102	20,473
Supplemental disclosure of cash flow information is as follows (amounts in thousands):
Cash paid for interest (net of capitalized interest of $672 and $339 in 2024 and 2023, respectively)	12,276	11,080
Supplemental disclosure of non-cash information
Offering costs accrued, not paid	28	10
Deferred asset acquisition costs accrued, not paid	115	1
Unrealized gain (loss) on interest rate swaps, net	902	(2,013)
Properties acquired for Common Units		219
Exchange of Common Units for Shares of Common Stock
Non-controlling interest in Operating Partnership	(18,088)	(140)
Common stock	14
Additional paid-in capital	18,074	140
Operating Properties [Member]
Supplemental disclosure of non-cash information
Additions to properties accrued, not paid	9,832	2,255
Development Properties [Member]
Supplemental disclosure of non-cash information
Additions to properties accrued, not paid	$ 22,078	$ 5,380

Organization and Basis of Presentation - Additional Information (Detail) ft² in Millions	3 Months Ended
	Mar. 31, 2024 ft² Property
Easterly Government Properties LP [Member]
Organization And Significant Accounting Policies [Line Items]
Outstanding common units of aggregate limited partnership interest owned percentage	95.00%
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	8.9
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 Operating Properties Entirely Leased [Member] \| Government [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

Consolidated Statements of Comprehensive Income (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 4,884	$ 4,414
Other comprehensive gain (loss):
Unrealized gain (loss) on interest rate swaps, net	902	(2,013)
Other comprehensive gain (loss)	902	(2,013)
Comprehensive income	5,786	2,401
Non-controlling interest in Operating Partnership	(258)	(523)
Other comprehensive (gain) loss attributable to non-controlling interest	(20)	240
Comprehensive income attributable to Easterly Government Properties, Inc.	$ 5,508	$ 2,118

Leases - Summary of Composition of Lease Revenue Recognized Between Fixed and Variable Components (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating Leased Assets [Line Items]
Rental income	$ 70,746	$ 68,148
Fixed
Operating Leased Assets [Line Items]
Rental income	65,436	62,924
Variable
Operating Leased Assets [Line Items]
Rental income	$ 5,310	$ 5,224

Leases - Additional Information (Detail) $ in Millions	3 Months Ended
Leases - Additional Information (Detail) $ in Millions	Mar. 31, 2024 USD ($)
Lessee Lease Description [Line Items]
Average age of property	19 years 4 months 24 days
Right-of-use asset	$ 2.8
Operating lease liability	$ 2.8

Debt - Summary of Borrowings (Parenthetical) (Detail)		3 Months Ended
Debt - Summary of Borrowings (Parenthetical) (Detail)	Apr. 01, 2024 USD ($)	Mar. 31, 2024 USD ($) Swap	Mar. 31, 2023 USD ($)	Jun. 23, 2023 Swap
Debt Instrument [Line Items]
Mortgage note obligation		$ 1,117,000	$ 16,744,000
Subsequent Event [Member] \| VA Golden [Member]
Debt Instrument [Line Items]
Mortgage note obligation	$ 8,400,000
Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Aggregate notional value of interest rate swaps		200,000,000.0
2018 Term Loan Facility [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		$ 200,000,000
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		5.38%
2016 Term Loan Facility [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		$ 100,000,000
2016 Term Loan Facility [Member] \| Interest Rate Swaps [Member]
Debt Instrument [Line Items]
Aggregate notional value of interest rate swaps		$ 100,000,000.0
Forward swaps interest rate		5.05%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Amount available under revolving credit facility		$ 305,400,000
Credit facility additional maximum borrowing capacity		$ 250,000,000.0
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
Senior Unsecured Notes [Member] \| 2018 Term Loan Facility [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		$ 200,000,000.0
Senior Unsecured Notes [Member] \| Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		450,000,000.0
Senior Unsecured Credit Facility \| 2016 Term Loan Facility [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		100,000,000.0
Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		219,479,000
Mortgage Notes Payable [Member] \| CBP Savannah [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		$ 9,335,000
Effective interest rate		4.12%
Mortgage Notes Payable [Member] \| ICE Charleston [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		$ 11,627,000
Effective interest rate		3.93%
Mortgage Notes Payable [Member] \| USFS II Albuquerque [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		$ 11,122,000
Effective interest rate		3.92%
Mortgage Notes Payable [Member] \| VA Loma Linda [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		$ 127,500,000
Effective interest rate		3.78%
Mortgage Notes Payable [Member] \| VA Golden [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		$ 8,395,000
Effective interest rate		5.03%
Mortgage Notes Payable [Member] \| USCIS - Kansas City [Member]
Debt Instrument [Line Items]
Loan, Principal Outstanding		$ 51,500,000
Effective interest rate		2.05%
SOFR [Member]
Debt Instrument [Line Items]
Loan, interest rate		5.31%

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2024	Apr. 23, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Trading Symbol	DEA
Entity Registrant Name	EASTERLY GOVERNMENT PROPERTIES, INC.
Entity Central Index Key	0001622194
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-36834
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
Entity Common Stock, Shares Outstanding		102,998,979
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	MD
Document Quarterly Report	true
Document Transition Report	false

Fair Value Measurements - Schedule of Assets Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swaps	$ 2,897	$ 1,994
Fair Value, Recurring \| Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Interest rate swaps	$ 2,897

Equity - Summary of Changes In Stockholders' Equity (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Shareholders Equity [Line Items]
Balance	$ 1,409,516	$ 1,410,982
Stock based compensation	1,229	1,668
Dividends and distributions paid	(28,685)	(27,463)
Issuance of common stock, net		52,232
Contribution of property for common units		219
Unrealized gain (loss) on interest rate swaps, net	902	(2,013)
Net income	4,884	4,414
Balance	1,387,846	1,440,039
Common Stock Par Value [Member]
Shareholders Equity [Line Items]
Balance	$ 1,010	$ 908
Balance (in shares)	100,973,247	90,814,021
Grant of unvested restricted stock (in shares)		6,686
Redemption of common units for shares of common stock	$ 14
Redemption of common units for shares of common stock (in shares)	1,381,455	10,199
Issuance of common stock, net		$ 26
Issuance of common stock (in share)		2,559,000
Balance	$ 1,024	$ 934
Balance (in shares)	102,354,702	93,389,906
Additional Paid-in Capital [Member]
Shareholders Equity [Line Items]
Balance	$ 1,783,338	$ 1,622,913
Stock based compensation	123	145
Redemption of common units for shares of common stock	18,074	140
Issuance of common stock, net		52,206
Allocation of non-controlling interest in Operating Partnership	(231)	(2,937)
Balance	1,801,304	1,672,467
Retained Earnings [Member]
Shareholders Equity [Line Items]
Balance	112,301	93,497
Net income	4,626	3,891
Balance	116,927	97,388
Cumulative Dividends [Member]
Shareholders Equity [Line Items]
Balance	(576,319)	(475,983)
Dividends and distributions paid	(27,124)	(24,068)
Balance	(603,443)	(500,051)
Accumulated Other Comprehensive Income [Member]
Shareholders Equity [Line Items]
Balance	1,871	3,546
Unrealized gain (loss) on interest rate swaps, net	882	(1,773)
Balance	2,753	1,773
Non-controlling Interest in Operating Partnership [Member]
Shareholders Equity [Line Items]
Balance	87,315	166,101
Stock based compensation	1,106	1,523
Dividends and distributions paid	(1,561)	(3,395)
Redemption of common units for shares of common stock	(18,088)	(140)
Contribution of property for common units		219
Unrealized gain (loss) on interest rate swaps, net	20	(240)
Net income	258	523
Allocation of non-controlling interest in Operating Partnership	231	2,937
Balance	$ 69,281	$ 167,528

Derivative and Hedging Activities - Schedule of Key Terms and Fair Values of Our Interest Rate Swap Derivatives (Detail)	3 Months Ended
	Mar. 31, 2024 USD ($)
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	$ 904,000
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	$ 648,000
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	$ 1,345,000

Equity Incentive Plan - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement, Additional Disclosure [Abstract]
Stock-based compensation expense	$ 1,229	$ 1,668

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets
Real estate properties, net	$ 2,337,307	$ 2,319,143
Cash and cash equivalents	43,545	9,381
Restricted cash	12,557	12,558
Tenant accounts receivable	73,092	66,274
Investment in unconsolidated real estate venture	282,879	284,544
Intangible assets, net	143,044	148,453
Interest rate swaps	2,897	1,994
Prepaid expenses and other assets	47,494	37,405
Total assets	2,942,815	2,879,752
Liabilities
Revolving credit facility	144,500	79,000
Term loan facilities, net	298,917	299,108
Notes payable, net	696,655	696,532
Mortgage notes payable, net	218,916	220,195
Intangible liabilities, net	11,593	12,480
Deferred revenue	88,746	82,712
Accounts payable, accrued expenses and other liabilities	95,642	80,209
Total liabilities	1,554,969	1,470,236
Equity
Common stock, par value $0.01, 200,000,000 shares authorized, 102,354,702 and 100,973,247 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively	1,024	1,010
Additional paid-in capital	1,801,304	1,783,338
Retained earnings	116,927	112,301
Cumulative dividends	(603,443)	(576,319)
Accumulated other comprehensive income	2,753	1,871
Total stockholders’ equity	1,318,565	1,322,201
Non-controlling interest in Operating Partnership	69,281	87,315
Total equity	1,387,846	1,409,516
Total liabilities and equity	$ 2,942,815	$ 2,879,752