Strategy
GEO Group Sells Its Adelanto Complex to Homeland Security for $950 Million and Lifts Its Buyback to $1.25 Billion
The sale of three California facilities totaling 2,644 beds should net about $705 million, and GEO keeps the support-services contract through 2034.
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By Anna Ferreira
Oct 5, 2026 · 2 min read
The GEO Group said Monday it had sold the Adelanto, California, ICE Processing Center complex to the U.S. Department of Homeland Security for $950 million, and that its board had raised the company's share repurchase authorization to $1.25 billion.
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Anna Ferreira
Senior Correspondent, Corporate Strategy
Anna Ferreira writes for Corporate Insider Inc.