HC Government Realty Trust, Inc. Announces a Lease Award and Building Purchase for the New Veterans Health Administration Office in Atlanta, GA.

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    Exterior Rendering of the Completed VHA Renovation      

WINSTON-SALEM, NC – HC Government Realty Trust, Inc. (HCGRT), through a joint venture under its management, has been awarded a new lease in Atlanta, GA, near Truist Park, for the Veterans Health Administration (VHA). This project represents the first in a round of 31 Veterans Affairs (VA) projects approved by Congress to be leased across the nation to serve our nation’s deserving veterans. The facility will house administrative staff and a critical 24/7 crisis call center for veterans. The building is five stories and includes approximately 123,000 rentable square feet, of which, four floors and 94,610 rentable square feet of space will be renovated-to-suit for the VHA. HCGRT is the manager and 20% owner of the joint venture.  The remaining 80% interest is owned by affiliates of HCGRT’s Chief Executive Officer, Steven A.  Hale II.  The purchase of the existing building closed on December 14, 2023. With the interior design well underway, demolition of the existing space is scheduled to commence in February 2024 with occupancy currently expected in the summer of 2025. The lease has a term of 20 years, with no early termination rights, which demonstrates VA’s long-term commitment to the mental wellbeing of America’s veterans.

HCGRT Chief Operating Officer, John W. Braswell, added the following statement to today’s announcement:

“We are extremely honored that the U.S. General Services Administration (GSA) and VA chose HCGRT to provide this new, long-term solution for our nation’s veterans. We also do not take lightly the trust that these two organizations continue to place in HCGRT’s integrity, and our strength of performance. We intend to deliver, as always, a project that exceeds the needs of VHA today and through the future for the veterans of this region.”

HCGRT’s real estate portfolio currently includes 35 properties representing approximately 670,000 rentable square feet across 12 different U.S. government agencies located in 21 states.

 

Contacts

Contact: IR@hcgovtrust.com

About HC Government Realty Trust, Inc.

HC Government Realty Trust, Inc. was formed in 2016 with the purpose of acquiring and operating GSA properties, which are full-faith credit obligations of the U.S. Government. GSA-leased real estate asset classes typically possess a highly stable tenant base, long-term lease structures and low risk of tenant turnover. The Company’s initial portfolio consists of U.S. Government tenant agencies, including a number of the U.S. Government’s largest and most essential agencies, such as the Drug Enforcement Administration, the Federal Bureau of Investigation, the Social Security Administration and the Department of Veterans Affairs. For more information, please visit our corporate website at www.hcgovtrust.com

Released December 19, 2023