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GEO Group signs 2 new contracts for 5 Calif. facilities

GEO Group Inc. signed two new contracts with U.S. Immigration and Customs Enforcement for five of its facilities in California totaling 4,490 beds.

The prison real estate investment trust expects the contracts to generate more than $200 million in annualized revenues.

The 15-year contracts include two five-year options, effective Dec. 20, and cover two existing facilities being operated by the company on behalf of the agency — the 1,940-bed Adelanto ICE Processing Center and the 400-bed Mesa Verde ICE Processing Center.

The other three facilities are the 700-bed Central Valley MCCF, the 700-bed Golden State MCCF and the 750-bed Desert View MCCF.