Core FFO Growth
Easterly Government Properties delivered a 3% core FFO growth from 2024 to the midpoint of the 2025 guidance range, driven by acquisitions, strong renewal execution, and portfolio management.
High Occupancy Rates
The company's portfolio occupancy remains near historical highs at 97% with a weighted average lease term of approximately ten years, highlighting the durability of their leases.
Acquisition of York Space Systems
Acquired York Space Systems headquarters in Colorado for $29 million at a cap rate in the low elevens, positioning the company towards its goal of 15% government-adjacent exposure.
Development Pipeline Progress
Major projects like the FDA Atlanta are nearing completion, and the company expects improvements in cash leverage upon project completion.
Financial Stability and Creditworthiness
Successfully recast and upsized a senior unsecured term loan and received a reaffirmation of their investment-grade rating with a stable outlook from KBRA.