Darrell Crate, CEO of Easterly Government Properties, Inc. (NYSE: DEA), sat down for a video interview at Nareit's REITweek: 2024 Investor Conference, held in New York June 3-6.
Crate underscored the company's strategic focus and recent achievements. "At Easterly, we are not just landlords; we are partners in mission-critical infrastructure for the U.S. government” that support operations such as drug enforcement and national security, he said.
Highlighting the latest earnings report, Crate discussed Easterly's robust growth strategy, aiming to increase funds from operations (FFO) by 2% to 3% annually over the next five years through acquisitions and development projects. He detailed recent acquisitions in Dallas and Orlando, which are key locations for agencies such as Immigration and Customs Enforcement and Homeland Security.
Looking forward, Crate outlined Easterly's priorities, which include cost reduction initiatives to support growth targets and expanding their acquisition pipeline. He emphasized a commitment to maintaining high-security facilities, which are crucial for confidential government operations like those at the FBI and DEA.
Crate also highlighted a recent acquisition in Anaheim, California focused on state and local government needs, showcasing Easterly's diverse portfolio catering to a range of public sector requirements.