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Investment trust acquires immigration building

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  • | 3:51 p.m. July 5, 2017
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  • Manatee-Sarasota
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SARASOTA — Sarasota-based real estate investment trust HC Government Realty Trust Inc. will acquire the U.S. Citizenship and Immigration Services field office in Montgomery, Ala.

The 21,116-square-foot, single-story property is a U.S. General Services Administration-leased commercial property. It is 100% leased to the federal government through December 2031. The office currently serves as the U.S. Citizenship and Immigration Services headquarters for Alabama. It is the first property acquired by HC Government Realty Trust in Alabama.

“CIS Montgomery, the first in the State of Alabama, is the latest example of the many GSA properties that we have identified that fits the requirements of our asset acquisition program,” says HC Government Realty Trust CEO and Director Edwin Stanton in a statement. “Serving as the HQ for the entire State of Alabama and having recently been renovated and secured under a new 15-year lease, CIS Montgomery has all the elements which make it an attractive and valuable addition to our growing portfolio.”

The acquisition joins seven newly contributed General Services Administration properties in the company's portfolio, according to a press release. The aggregate purchase price of the Montgomery property is about $4.8 million. The transaction is scheduled to close on or about July 30.

HC Government Realty Trust was formed in 2016 with the purpose of acquiring and operating General Services Administration properties, according to a statement.


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