|
|
| CCA Pays $47.5 Million for Colorado Prison |
| By Bizjournals.com |
| Published: 02/03/2003 |
|
Corrections Corporation of America has purchased a 1,200-bed, medium-security adult prison in Olney Springs, Colo., for $47.5 million in cash. An affiliate of Reckson Associates Realty Corp. sold the Crowley County Correctional Facility, which currently houses 985 inmates from the states Colorado and Wyoming. Nashville-based CCA paid for the facility through $30 million in borrowings under its senior bank credit facility and with cash on hand. In the purchase, CCA also picked up management contracts related to the facility and took over management on Jan. 18. 'We are pleased to announce the closing of the Crowley acquisition,' CCA Executive Vice President and Chief Financial Officer Irving Lingo Jr. says. 'We believe that the existing occupancy level, favorable projected return on investment, projected growth in Colorado's inmate population and the state's commitment to privatization make this a unique and attractive investment opportunity.' |
advertise
|
privacy policy
|
add URL
|
about us
|
terms/disclaimer
|
contact us
|
join our team
|
help
Do you know someone who has been arrested in Waco or McLennan County? It’s important to find a good Waco lawyer to represent you in the matter involving your own liberty. Look for the best mason dunnam that you can find. Whether you have been accused rightly or wrongly, it’s important to know your legal rights that concern whether you go to jail.