UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
March 21, 2017
Easterly Government Properties, Inc.
(Exact Name of Registrant as Specified in Charter)
| Maryland | 001-36834 | 47-2047728 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 2101 L Street NW, Suite 650, Washington, D.C. | 20037 | |||
| (Address of Principal Executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (202) 595-9500
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2.):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 7.01. Regulation FD Disclosure.
On March 21, 2017, Easterly Government Properties, Inc. (the “Company”) issued separate press releases announcing that the Company has agreed to (i) acquire a 327,614 rentable square foot state-of-the-art U.S. Department of Veterans Affairs Ambulatory Care Center located in Loma Linda, California and (ii) acquire and complete the development of an 86,363 rentable square foot state-of-the-art U.S. Department of Veterans Affairs Outpatient Clinic in Mishawaka, Indiana. Copies of the press releases are furnished as Exhibit 99.1 and Exhibit 99.2 to this Current Report on Form 8-K (this “Current Report”).
Also on March 21, 2017, the Company issued a press release announcing the commencement of an underwritten public offering of 4,300,000 shares of common stock of the Company, par value $0.01 per share, being offered on a forward basis in connection with certain forward sales agreements. A copy of that press release is furnished as Exhibit 99.3 to this Current Report.
The information in this Item 7.01 of this Current Report, including Exhibit 99.1, Exhibit 99.2 and Exhibit 99.3 attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall such information be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act regardless of any general incorporation language in such filing.
ITEM 9.01 Financial Statements and Exhibits.
(d) Exhibit:
| Exhibit |
Description | |
| 99.1 | Press release dated March 21, 2017 | |
| 99.2 | Press release dated March 21, 2017 | |
| 99.3 | Press release dated March 21, 2017 | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| EASTERLY GOVERNMENT PROPERTIES, INC. | ||
| By: | /s/ William C. Trimble, III | |
| Name: | William C. Trimble, III | |
| Title: | Chief Executive Officer and President | |
Date: March 22, 2017
Exhibit 99.1
EASTERLY GOVERNMENT PROPERTIES ANNOUNCES
AGREEMENT TO ACQUIRE THE NATION’S SECOND LARGEST
DEPARTMENT OF VETERANS AFFAIRS
OUTPATIENT CLINIC LOCATED IN LOMA LINDA, CALIFORNIA
~ Largest Easterly Acquisition to Date ~
~ Completed in 2016 and 100% Leased to the VA through May 2036 ~
WASHINGTON, D.C. – March 21, 2017 – Easterly Government Properties, Inc. (NYSE: DEA), a fully integrated real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, announced today that it has agreed to acquire the Department of Veterans Affairs (VA) Ambulatory Care Center located in Loma Linda, California (VA - Loma Linda). The closing of the acquisition of VA - Loma Linda is subject to the satisfaction of customary closing conditions and is expected to occur in the second quarter of 2017.
VA - Loma Linda, one of the premier assets in the VA health system, is a brand new 327,614 rentable square foot state-of-the-art ambulatory care facility that provides a comprehensive solution for the outpatient needs of U.S. veterans. VA - Loma Linda, the VA’s second largest outpatient facility in the country, sits on a 37-acre site, two miles northeast of the federally-owned Jerry L. Pettis Memorial VA Center, within a metropolitan area including the largest concentration of U.S. veterans in the country. This new LEED Silver build-to-suit construction, completed in 2016, is 100% leased to the U.S. Government through May 2036 for a total initial, non-cancelable lease term of 20 years.
“Easterly has more actively monitored the VA for the past eighteen months as they continue to transform from an older hospital-centered inpatient care infrastructure to this new, state-of-the-art ambulatory care health system. Easterly saw the opportunity to make an entrance into the VA market and has done so with the purchase of this new, Class A build-to-suit facility with an initial 20-year lease,” said William C. Trimble III, Chief Executive Officer of Easterly Government Properties, Inc. “VA - Loma Linda is the face of the VA’s new healthcare infrastructure. We are so pleased to partner with the VA and own this mission-critical building serving a large population of our nation’s veterans.”
The VA is a cabinet-level federal agency responsible for providing vital services to the 22 million U.S. military veterans currently living in the U.S. and an additional 25.7 million family members and dependents eligible for benefits. The VA is America’s largest integrated healthcare system with over 1,700 sites of care, serving 8.97 million veterans annually. The VA employs nearly 350,000 people, all dedicated to providing infrastructure and support to U.S. veterans and their families.
The VA is a service-based organization with a sizeable portion of its annual budget going towards the Veterans Health Administration (VHA). The VHA offers a broad range of primary care, specialized care, and related medical and social support services for veterans in need through the 124,000 health care professionals throughout the VA. The VA, as widely reported, is undergoing a transformation in the design and functionality of its healthcare facilities. The VA is shifting much of its medical treatment from traditional inpatient hospital facilities to state-of-the-art Class A outpatient facilities, often developed and owned by the private sector.
The VA - Loma Linda Ambulatory Care Center, as part of a larger VA Loma Linda Healthcare System, provides a wide range of healthcare services to the approximately 72,000 veterans receiving care through the network. VA - Loma Linda is projected to account for 50% of all VA outpatient visits in the region and offers primary care, women’s healthcare, outpatient mental health services, outpatient physical medicine and rehabilitation, dental, employee health, imaging services and blood draw services. The Loma Linda economy is centered around healthcare and education and is also home to the Loma Linda University Health network. Drawing on the proximity of resources, Loma Linda alone has seven hospitals and medical centers, all within a few miles from one another.
“This large-scale acquisition demonstrates Easterly’s ability to source and underwrite U.S. Government properties in an entirely new and growing vertical of leases backed by the full faith and credit of the U.S. Federal Government,” said Darrell Crate, Chairman of the Board of Easterly Government Properties, Inc. “We continue to build a strong, diverse and differentiated portfolio of Class A properties. With this acquisition, we are delivering scale, growth and accretion to our shareholders.”
The estimated combined purchase price of VA - Loma Linda and the Company’s separate VA - South Bend transaction, also announced today, is estimated to be $260 million.
The Company is raising its guidance for FFO per share on a fully diluted basis for the twelve-month period ending December 31, 2017 to $1.25 - $1.29.
| Low | High | |||||||
| Net income (loss) per share – fully diluted basis |
$ | 0.13 | 0.17 | |||||
| Plus: real estate depreciation and amortization |
$ | 1.12 | 1.12 | |||||
| FFO per share – fully diluted basis |
$ | 1.25 | 1.29 | |||||
This guidance assumes $350 million of acquisitions in 2017, including the completed acquisition of the OSHA - Sandy laboratory and the pending acquisitions of VA - Loma Linda and VA - South Bend, and does not contemplate any dispositions. This guidance is forward-looking and reflects management’s view of current and future market conditions. The Company’s actual results may differ materially from this guidance.
Non-GAAP Supplemental Financial Measures
This section contains definitions of certain non-GAAP financial measures and other terms that the Company uses in this press release and, where applicable, the reasons why management believes these non-GAAP financial measures provide useful information to investors about the Company’s financial condition and results of operations and the other purposes for which management uses the measures. These measures should not be considered in isolation or as a substitute for measures of performance in accordance with GAAP. Additional detail can be found in the Company’s most recent annual report on Form 10-K, as well as other documents filed with or furnished to the SEC from time to time.
Funds From Operations (FFO) is defined by NAREIT as net income (loss), calculated in accordance with GAAP, excluding gains or losses from sales of property and impairment losses on depreciable real estate, plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. FFO is a widely recognized measure of REIT performance. Although FFO is a non-GAAP financial measure, the Company believes that information regarding FFO is helpful to shareholders and potential investors.
Other Definitions
Fully diluted basis assumes the exchange of all outstanding common units representing limited partnership interests in the Company’s operating partnership, or common units, the full vesting of all shares of restricted stock units, and the exchange of all earned and vested LTIP units in the Company’s operating partnership for shares of common stock on a one-for-one basis, which is not the same as the meaning of “fully diluted” under GAAP. Fully diluted basis does not include outstanding LTIP units in the Company’s operating partnership that are subject to performance criteria that have not yet been met.
About Easterly Government Properties, Inc.
Easterly Government Properties, Inc. (NYSE:DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly’s experienced management team brings specialized insight into the strategy and needs of mission-critical U.S. Government agencies for properties leased primarily through the U.S. General Services Administration (GSA). For further information on the company and its properties, please visit www.easterlyreit.com.
We make statements in this press release that are considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions and include our guidance with respect to Net income (loss) and FFO per share on a fully diluted basis. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement in this press release for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe
that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation: the risk that we may not complete the acquisition of VA - Loma Linda in a timely fashion or at all; risks associated with our dependence on the U.S. Government and its agencies for substantially all of our revenues; risks associated with ownership and development of real estate; decreased rental rates or increased vacancy rates; loss of key personnel; general volatility of the capital and credit markets and the market price of our common stock; the risk we may lose one or more major tenants; difficulties in completing and successfully integrating acquisitions; failure of acquisitions or development projects to occur at anticipated levels or to yield anticipated results; risks associated with actual or threatened terrorist attacks; intense competition in the real estate market that may limit our ability to attract or retain tenants or re-lease space; insufficient amounts of insurance or exposure to events that are either uninsured or underinsured; uncertainties and risks related to adverse weather conditions, natural disasters and climate change; exposure to liability relating to environmental and health and safety matters; limited ability to dispose of assets because of the relative illiquidity of real estate investments and the nature of our assets; exposure to litigation or other claims; risks associated with breaches of our data security; risks associated with our indebtedness; and other risks and uncertainties detailed in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2016, filed with the Securities and Exchange Commission on March 2, 2017. In addition, our anticipated qualification as a real estate investment trust involves the application of highly technical and complex provisions of the Internal Revenue Code of 1986, or the Code, and depends on our ability to meet the various requirements imposed by the Code through actual operating results, distribution levels and diversity of stock ownership. We assume no obligation to update publicly any forward looking statements, whether as a result of new information, future events or otherwise.
Contact:
Easterly Government Properties, Inc.
Lindsay S. Winterhalter
Vice President, Investor Relations & Operations
IR@easterlyreit.com
202-596-3947
Exhibit 99.2
EASTERLY GOVERNMENT PROPERTIES ANNOUNCES
AGREEMENT TO ACQUIRE AND COMPLETE THE DEVELOPMENT OF THE
86,363 SF DEPARTMENT OF VETERANS AFFAIRS
OUTPATIENT CLINIC IN SOUTH BEND, INDIANA
~ 2nd Development Project Since IPO, Expected to Deliver Third Quarter 2017 ~
Artist rendering
WASHINGTON, D.C. – March 21, 2017 – Easterly Government Properties, Inc. (NYSE: DEA), a fully integrated real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, announced today that it has agreed to acquire and complete the development of the Department of Veterans Affairs (VA) Outpatient Clinic located in Mishawaka, Indiana (VA - South Bend). The closing of the acquisition of VA - South Bend is subject to the satisfaction of customary closing conditions and is expected to occur in the third quarter of 2017.
The VA is a cabinet-level federal agency responsible for providing vital services to the 22 million U.S. military veterans currently living in the U.S. and an additional 25.7 million family members and dependents eligible for benefits. The VA is America’s largest integrated healthcare system with over 1,700 sites of care, serving 8.97 million veterans annually. The VA employs nearly 350,000 people, all dedicated to providing infrastructure and support to U.S. veterans and their families.
“The Department of Veterans Affairs is a new market opportunity for Easterly Government Properties, and we are pleased to add this attractive development project to our existing portfolio of mission-critical government facilities,” said William C. Trimble III, Chief Executive Officer of Easterly Government Properties, Inc. “By expanding our acquisition and development target universe to include the VA outpatient facilities, it opens another avenue of accretive growth for the Company.”
The VA is a service-based organization with a sizeable portion of its annual budget going towards the Veterans Health Administration (VHA). The VHA offers a broad range of primary care,
specialized care, and related medical and social support services for veterans in need through the 124,000 health care professionals throughout the VA. The VA, as widely reported, is undergoing a transformation in the design and functionality of its healthcare facilities. The VA is shifting much of its medical treatment from traditional inpatient hospital facilities to state-of-the-art Class A outpatient facilities, often developed and owned by the private sector.
Delivering on one of the core missions of the agency, the VA - South Bend facility will provide outpatient services, including primary medical care, mental health care, audiology, optometry, radiology, cardiology, pulmonology, podiatry, urology and gastrointestinal endoscopy to thousands of veterans located throughout several surrounding counties. VA - South Bend is a relocation of an older VA clinic in South Bend and, when construction is completed, will be four times larger than the VA facility it replaces. It is anticipated that the new facility will be staffed with approximately 190 employees. The VA estimates this facility will see 12,000 patients in its first year of operation, 14,000 patients in its second year of operation, and 16,000 patients in its third year of operation. Following the trend of newer VA facilities, the property will be in close proximity to the St. Joseph Regional Medical Center, a recently constructed $350 million 254- bed facility.
VA - South Bend is expected to be completed in the third quarter of 2017, and upon completion, this state-of-the-art facility will be 100% leased to the VA for an initial, non-cancelable term of 15 years. VA - South Bend is targeted to achieve LEED for Healthcare Silver certification.
“Easterly’s head of acquisitions and development, Mike Ibe, and team bring a proprietary edge in sourcing, structuring and underwriting acquisition and development deals like VA - South Bend, which extend the overall duration of Easterly’s assets,” said Meghan Baivier, Chief Financial and Operating Officer at Easterly Government Properties, Inc. “The Easterly team has the background and skill to deliver an exemplary Class A build-to-suit facility with an initial 15-year lease term for the VA. We welcome this and future opportunities to become a partner of choice to our newest tenant, the VA.”
The estimated combined purchase price of VA - South Bend and the Company’s separate VA - Loma Linda transaction, also announced today, is estimated to be $260 million.
The Company is raising its guidance for FFO per share on a fully diluted basis for the twelve-month period ending December 31, 2017 to $1.25 - $1.29.
| Low | High | |||||||
| Net income (loss) per share – fully diluted basis |
$ | 0.13 | 0.17 | |||||
| Plus: real estate depreciation and amortization |
$ | 1.12 | 1.12 | |||||
| FFO per share – fully diluted basis |
$ | 1.25 | 1.29 | |||||
This guidance assumes $350 million of acquisitions in 2017, including the completed acquisition of the OSHA - Sandy laboratory and the pending acquisitions of VA - Loma Linda and VA - South Bend, and does not contemplate any dispositions. This guidance is forward-looking and reflects management’s view of current and future market conditions. The Company’s actual results may differ materially from this guidance.
Non-GAAP Supplemental Financial Measures
This section contains definitions of certain non-GAAP financial measures and other terms that the Company uses in this press release and, where applicable, the reasons why management believes these non-GAAP financial measures provide useful information to investors about the
Company’s financial condition and results of operations and the other purposes for which management uses the measures. These measures should not be considered in isolation or as a substitute for measures of performance in accordance with GAAP. Additional detail can be found in the Company’s most recent annual report on Form 10-K, as well as other documents filed with or furnished to the SEC from time to time.
Funds From Operations (FFO) is defined by NAREIT as net income (loss), calculated in accordance with GAAP, excluding gains or losses from sales of property and impairment losses on depreciable real estate, plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures. FFO is a widely recognized measure of REIT performance. Although FFO is a non-GAAP financial measure, the Company believes that information regarding FFO is helpful to shareholders and potential investors.
Other Definitions
Fully diluted basis assumes the exchange of all outstanding common units representing limited partnership interests in the Company’s operating partnership, or common units, the full vesting of all shares of restricted stock units, and the exchange of all earned and vested LTIP units in the Company’s operating partnership for shares of common stock on a one-for-one basis, which is not the same as the meaning of “fully diluted” under GAAP. Fully diluted basis does not include outstanding LTIP units in the Company’s operating partnership that are subject to performance criteria that have not yet been met.
About Easterly Government Properties, Inc.
Easterly Government Properties, Inc. (NYSE:DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly’s experienced management team brings specialized insight into the strategy and needs of mission-critical U.S. Government agencies for properties leased primarily through the U.S. General Services Administration (GSA). For further information on the company and its properties, please visit www.easterlyreit.com.
We make statements in this press release that are considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act, which are usually identified by the use of words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” and variations of such words or similar expressions and include our guidance with respect to Net income (loss) and FFO per share on a fully diluted basis. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and are including this statement in this press release for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation: the risk
that we may not complete the acquisition of VA - South Bend in a timely fashion or at all; the risk that we may be delayed in the completion of VA - South Bend; risks associated with our dependence on the U.S. Government and its agencies for substantially all of our revenues; risks associated with ownership and development of real estate; decreased rental rates or increased vacancy rates; loss of key personnel; general volatility of the capital and credit markets and the market price of our common stock; the risk we may lose one or more major tenants; difficulties in completing and successfully integrating acquisitions; failure of acquisitions or development projects to occur at anticipated levels or to yield anticipated results; risks associated with actual or threatened terrorist attacks; intense competition in the real estate market that may limit our ability to attract or retain tenants or re-lease space; insufficient amounts of insurance or exposure to events that are either uninsured or underinsured; uncertainties and risks related to adverse weather conditions, natural disasters and climate change; exposure to liability relating to environmental and health and safety matters; limited ability to dispose of assets because of the relative illiquidity of real estate investments and the nature of our assets; exposure to litigation or other claims; risks associated with breaches of our data security; risks associated with our indebtedness; and other risks and uncertainties detailed in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2016, filed with the Securities and Exchange Commission on March 2, 2017. In addition, our anticipated qualification as a real estate investment trust involves the application of highly technical and complex provisions of the Internal Revenue Code of 1986, or the Code, and depends on our ability to meet the various requirements imposed by the Code through actual operating results, distribution levels and diversity of stock ownership. We assume no obligation to update publicly any forward looking statements, whether as a result of new information, future events or otherwise.
Contact:
Easterly Government Properties, Inc.
Lindsay S. Winterhalter
Vice President, Investor Relations & Operations
IR@easterlyreit.com
202-596-3947
Exhibit 99.3
EASTERLY GOVERNMENT PROPERTIES
ANNOUNCES COMMON STOCK OFFERING
WASHINGTON, D.C. – March 21, 2017 – Easterly Government Properties, Inc. (NYSE: DEA) (the “Company” or “Easterly”), a fully integrated real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, announced today that it has commenced a public offering of 4,300,000 shares of its common stock in connection with the forward sales agreements described below. The forward purchasers, as defined below, are expected to grant the underwriters a 30-day option to purchase up to an additional 645,000 shares of the Company’s common stock at the public offering price.
Jefferies, Citigroup, Raymond James and RBC Capital Markets are acting as joint book-runners for this offering.
In connection with the offering of shares of its common stock, the Company expects to enter into separate forward sales agreements with each of Jefferies LLC and Citigroup Global Markets Inc., or their affiliates, referred to in this capacity as the forward purchasers. Jefferies LLC and Citigroup Global Markets Inc., either directly or as agents for their respective affiliated forward purchasers, are, at the Company’s request, borrowing from third parties and selling to the underwriters 4,300,000 shares of the Company’s common stock (or 4,945,000 shares of the Company’s common stock if the underwriters exercise their option to purchase additional shares in full), in connection with the forward sales agreements.
Pursuant to the terms of the forward sales agreements, and subject to its right to elect cash or net share settlement, the Company intends to issue and sell, upon physical settlement of such forward sales agreements, up to 4,300,000 shares of the Company’s common stock to the forward purchasers (or 4,945,000 shares of the Company’s common stock if the underwriters exercise their option to purchase additional shares in full).
The Company expects to physically settle the forward sales agreements and receive proceeds, subject to certain adjustments, from the sale of its shares of common stock upon one or more such physical settlements within approximately six months from the date of the prospectus supplement relating to the offering.
The Company will not initially receive any proceeds from the sale of shares of its common stock by the forward purchasers. To the extent the Company receives net proceeds upon physical settlement of the forward sales agreements, it intends to contribute such proceeds to its operating partnership, which intends to use a portion of the net proceeds to fund, in part, the previously announced pending acquisition of a 327,614 rentable square foot Department of Veterans Affairs (VA) Ambulatory Care Center in Loma Linda, California (VA - Loma Linda), and the previously announced pending acquisition of the 86,363 rentable square foot VA outpatient care facility in Mishawaka, Indiana (VA - South Bend). The balance of the net proceeds, if any, may be used to repay borrowings under the Company’s revolving credit facility, to fund other potential acquisition opportunities, for general corporate purposes, or a combination of the foregoing.
This offering is being made pursuant to an effective shelf registration statement and prospectus and a related preliminary prospectus supplement filed by the Company with the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Copies of the prospectus supplement and related prospectuses for this offering can be obtained from Jefferies, Attention: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, New York 10022, or email: Prospectus_Department@Jefferies.com, or by telephone: (877) 547-6340; Citigroup, Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at (800) 831-9146; Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716 or by telephone at (800) 248-8863; or RBC Capital Markets, LLC, Attention: Equity Syndicate, 200 Vesey Street, 8th Floor, New York, NY 10281 or by telephone at (877) 822-4089.
About Easterly Government Properties, Inc.
Easterly Government Properties, Inc. (NYSE:DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly’s experienced management team brings specialized insight into the strategy and needs of mission-critical U.S. Government agencies for properties leased primarily through the U.S. General Services Administration (GSA). For further information on the Company and its properties, please visit www.easterlyreit.com.
This press release contains forward-looking statements within the meaning of federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “believe,” “expect,” “intend,” “project,” “anticipate,” “position,” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. These risks include, but are not limited to the risk that we may not complete the acquisition of VA - Loma Linda in a timely fashion or at all, the risk that we may not complete the acquisition of VA - South Bend in a timely fashion or at all, the risk that we may be delayed in the completion of VA - South Bend and those risks and uncertainties associated with the Company’s business described from time to time in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K filed on March 2, 2017. Although the Company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, the Company can give no assurance that the expectations will be attained or that any deviation will not be material. All information in this release is as of the date of this release, and the Company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in its expectations.
Contact:
Easterly Government Properties, Inc.
Lindsay S. Winterhalter
Vice President, Investor Relations & Operations
202-596-3947
IR@easterlyreit.com