Homeland Security paid $950 million for Adelanto. GEO expects to keep running it.
The GEO Group sold its Adelanto, California, immigrant detention complex on Oct. 2 and expects to keep running it for ICE. Federal records show ICE has committed about $900 million to GEO under that contract since December 2019.
KeyVex News··6 min readFact-checked against 12 public recordsKeyVex News··6 min readFact-checked against 12 public records
GEO$31.36▲ 1.9%Close, Oct. 2. Prices from Tiingo.The short versionTap to readTap to close
- A seller usually hands over the keys. GEO sold Adelanto to Homeland Security and expects to keep running it for ICE, part of Homeland Security, under a contract that can last to Dec. 19, 2034.
- GEO paid about $28 million for the first Adelanto building in 2010. Its books put the complex's cost at about $204 million in 2020: what GEO spent, not what it would sell for.
- Since December 2019, ICE has committed about $900 million to GEO for services under the contract that covers Adelanto, federal spending records show. The government now owns the buildings and remains GEO's customer.
- Some say federal ownership limits outside checks. Claire Trickler-McNulty, a senior ICE official under President Biden, told CalMatters it "gives them protections from state and local laws."
- GEO says it is in "an active process" to sell more facilities to ICE, with no definitive agreement. Its Adelanto term ends Dec. 19, 2029, and ICE can end it sooner for convenience.
The sale: The federal government now owns the immigrant detention complex in Adelanto, California, and the company that sold it still runs it. The GEO Group sold the three facilities, with 2,644 beds, to the Department of Homeland Security for $950 million on Oct. 2, it said in an Oct. 5 filing.8-K It expects about $705 million after taxes, fees and expenses.Release
The pattern: It is Homeland Security's fifth purchase of a private detention center since July. CoreCivic sold it the other four, in California, Kansas and Minnesota, for about $2.2 billion. It expects to keep managing three of them, and has a new ICE contract to manage the fourth.8-K8-K With Adelanto, the five come to about $3.2 billion for seven facilities, by KeyVex's math; the Los Angeles Times put it at nearly $3.2 billion.LA Times
The customer: That makes the government both the owner and still GEO's customer. Since December 2019, U.S. Immigration and Customs Enforcement, an agency of Homeland Security, has committed about $900 million to GEO for services under the contract that covers Adelanto, federal spending records show.USAspending8-K GEO's filings don't say how the $950 million price was set.8-K
GEO Group's stock and the sales' key datesDaily close, June 2, 2025 to Oct. 2, 2026 ▲ 15.8%Show chartHide chart
- 1June 10, 2025 A court settlement lets Adelanto take detainees at full capacity. GEO announces the settlement, which ends limits on intake set during the pandemic. GEO closes at $26.96.
- 2July 6, 2026 CoreCivic discloses its first two sales to Homeland Security. California City and Otay Mesa, both in California, for about $1.47 billion. CoreCivic expects to keep managing both. GEO closes at $29.72.
- 3Aug. 6, 2026 CoreCivic's next two sales, then GEO's quarterly report. CoreCivic's Aug. 5 filing, after the close, disclosed sales in Kansas and Minnesota. GEO's report, filed after the Aug. 6 close, names a potential sale of multiple facilities to ICE among the uncertainties it faces. GEO closes Aug. 6 at $30.14.
- 4Oct. 2, 2026 GEO sells the Adelanto complex to Homeland Security. Signed and closed the same day; GEO announced it before the open on Oct. 5. GEO closes at $31.36.
View the data (337 trading days)
| Date | Close | Day change |
|---|---|---|
| 2026-10-02 | $31.36 | +1.9% |
| 2026-10-01 | $30.79 | +1.1% |
| 2026-09-30 | $30.47 | −1.6% |
| 2026-09-29 | $30.96 | +2.4% |
| 2026-09-28 | $30.22 | −3.2% |
| 2026-09-25 | $31.22 | −2.3% |
| 2026-09-24 | $31.96 | +4.4% |
| 2026-09-23 | $30.62 | +3.0% |
| 2026-09-22 | $29.74 | −1.7% |
| 2026-09-21 | $30.25 | −4.8% |
| 2026-09-18 | $31.76 | −1.2% |
| 2026-09-17 | $32.14 | +2.3% |
| 2026-09-16 | $31.43 | +0.5% |
| 2026-09-15 | $31.26 | +1.3% |
| 2026-09-14 | $30.85 | −2.0% |
| 2026-09-11 | $31.49 | +0.4% |
| 2026-09-10 | $31.38 | −0.7% |
| 2026-09-09 | $31.61 | −1.3% |
| 2026-09-08 | $32.04 | +0.8% |
| 2026-09-04 | $31.77 | +2.9% |
| 2026-09-03 | $30.88 | +1.0% |
| 2026-09-02 | $30.56 | +0.1% |
| 2026-09-01 | $30.53 | −4.0% |
| 2026-08-31 | $31.81 | −1.5% |
| 2026-08-28 | $32.28 | −1.0% |
| 2026-08-27 | $32.60 | −0.5% |
| 2026-08-26 | $32.77 | +1.9% |
| 2026-08-25 | $32.16 | −0.1% |
| 2026-08-24 | $32.18 | −1.6% |
| 2026-08-21 | $32.71 | +3.1% |
| 2026-08-20 | $31.72 | +3.4% |
| 2026-08-19 | $30.68 | −0.7% |
| 2026-08-18 | $30.91 | −0.8% |
| 2026-08-17 | $31.15 | −0.2% |
| 2026-08-14 | $31.22 | +2.8% |
| 2026-08-13 | $30.37 | −3.4% |
| 2026-08-12 | $31.45 | −0.9% |
| 2026-08-11 | $31.75 | +3.6% |
| 2026-08-10 | $30.66 | −0.1% |
| 2026-08-07 | $30.69 | +1.8% |
| 2026-08-06 | $30.14 | −4.1% |
| 2026-08-05 | $31.42 | +0.4% |
| 2026-08-04 | $31.29 | −0.2% |
| 2026-08-03 | $31.34 | +1.5% |
| 2026-07-31 | $30.89 | +0.7% |
| 2026-07-30 | $30.67 | +2.4% |
| 2026-07-29 | $29.95 | −2.6% |
| 2026-07-28 | $30.74 | −0.6% |
| 2026-07-27 | $30.93 | 0.0% |
| 2026-07-24 | $30.92 | −0.5% |
| 2026-07-23 | $31.07 | −0.9% |
| 2026-07-22 | $31.34 | +0.4% |
| 2026-07-21 | $31.23 | +2.1% |
| 2026-07-20 | $30.60 | +3.9% |
| 2026-07-17 | $29.46 | −0.5% |
| 2026-07-16 | $29.62 | −0.7% |
| 2026-07-15 | $29.82 | +0.1% |
| 2026-07-14 | $29.78 | −1.5% |
| 2026-07-13 | $30.24 | −0.8% |
| 2026-07-10 | $30.47 | +1.4% |
| 2026-07-09 | $30.06 | +1.4% |
| 2026-07-08 | $29.65 | +2.1% |
| 2026-07-07 | $29.03 | −2.3% |
| 2026-07-06 | $29.72 | −1.8% |
| 2026-07-02 | $30.25 | −0.3% |
| 2026-07-01 | $30.33 | +2.6% |
| 2026-06-30 | $29.55 | +0.3% |
| 2026-06-29 | $29.46 | −3.0% |
| 2026-06-26 | $30.36 | +3.5% |
| 2026-06-25 | $29.33 | −0.2% |
| 2026-06-24 | $29.38 | −1.9% |
| 2026-06-23 | $29.96 | +1.0% |
| 2026-06-22 | $29.67 | +1.3% |
| 2026-06-18 | $29.28 | +1.5% |
| 2026-06-17 | $28.86 | +0.8% |
| 2026-06-16 | $28.63 | +0.3% |
| 2026-06-15 | $28.54 | +0.4% |
| 2026-06-12 | $28.44 | −0.6% |
| 2026-06-11 | $28.62 | +1.7% |
| 2026-06-10 | $28.14 | +4.1% |
| 2026-06-09 | $27.03 | +1.3% |
| 2026-06-08 | $26.68 | +5.4% |
| 2026-06-05 | $25.31 | +0.6% |
| 2026-06-04 | $25.15 | +6.6% |
| 2026-06-03 | $23.60 | +0.9% |
| 2026-06-02 | $23.38 | +0.2% |
| 2026-06-01 | $23.34 | +3.0% |
| 2026-05-29 | $22.67 | −1.9% |
| 2026-05-28 | $23.11 | +2.0% |
| 2026-05-27 | $22.66 | −0.1% |
| 2026-05-26 | $22.68 | −3.6% |
| 2026-05-22 | $23.52 | +1.8% |
| 2026-05-21 | $23.11 | −0.5% |
| 2026-05-20 | $23.23 | +1.8% |
| 2026-05-19 | $22.81 | −0.1% |
| 2026-05-18 | $22.84 | −0.3% |
| 2026-05-15 | $22.92 | −2.0% |
| 2026-05-14 | $23.39 | +3.3% |
| 2026-05-13 | $22.65 | +5.8% |
| 2026-05-12 | $21.41 | 0.0% |
| 2026-05-11 | $21.41 | −1.6% |
| 2026-05-08 | $21.76 | +2.5% |
| 2026-05-07 | $21.22 | −4.4% |
| 2026-05-06 | $22.20 | +20.9% |
| 2026-05-05 | $18.36 | −1.2% |
| 2026-05-04 | $18.58 | −0.9% |
| 2026-05-01 | $18.75 | +1.3% |
| 2026-04-30 | $18.51 | −2.3% |
| 2026-04-29 | $18.95 | +0.7% |
| 2026-04-28 | $18.82 | +0.8% |
| 2026-04-27 | $18.67 | −0.8% |
| 2026-04-24 | $18.83 | +1.9% |
| 2026-04-23 | $18.48 | −2.3% |
| 2026-04-22 | $18.91 | −0.6% |
| 2026-04-21 | $19.03 | +1.3% |
| 2026-04-20 | $18.79 | +1.0% |
| 2026-04-17 | $18.60 | +2.4% |
| 2026-04-16 | $18.16 | +3.2% |
| 2026-04-15 | $17.60 | −1.7% |
| 2026-04-14 | $17.90 | +1.1% |
| 2026-04-13 | $17.71 | +1.0% |
| 2026-04-10 | $17.53 | −2.0% |
| 2026-04-09 | $17.88 | +0.5% |
| 2026-04-08 | $17.79 | +1.1% |
| 2026-04-07 | $17.59 | −1.0% |
| 2026-04-06 | $17.77 | −3.5% |
| 2026-04-02 | $18.42 | +6.3% |
| 2026-04-01 | $17.33 | +3.1% |
| 2026-03-31 | $16.81 | +3.0% |
| 2026-03-30 | $16.32 | −2.3% |
| 2026-03-27 | $16.71 | −3.5% |
| 2026-03-26 | $17.31 | −1.1% |
| 2026-03-25 | $17.50 | +3.3% |
| 2026-03-24 | $16.94 | −0.4% |
| 2026-03-23 | $17.00 | +3.5% |
| 2026-03-20 | $16.43 | +0.3% |
| 2026-03-19 | $16.38 | −2.2% |
| 2026-03-18 | $16.74 | +2.8% |
| 2026-03-17 | $16.28 | +5.9% |
| 2026-03-16 | $15.37 | +5.6% |
| 2026-03-13 | $14.55 | +3.2% |
| 2026-03-12 | $14.10 | 0.0% |
| 2026-03-11 | $14.10 | +0.1% |
| 2026-03-10 | $14.08 | +2.3% |
| 2026-03-09 | $13.76 | −4.1% |
| 2026-03-06 | $14.35 | −3.8% |
| 2026-03-05 | $14.92 | −0.9% |
| 2026-03-04 | $15.05 | −0.1% |
| 2026-03-03 | $15.06 | −1.5% |
| 2026-03-02 | $15.29 | +1.7% |
| 2026-02-27 | $15.04 | +3.5% |
| 2026-02-26 | $14.53 | −1.3% |
| 2026-02-25 | $14.72 | +6.6% |
| 2026-02-24 | $13.81 | +3.8% |
| 2026-02-23 | $13.31 | +0.4% |
| 2026-02-20 | $13.26 | −13.4% |
| 2026-02-19 | $15.32 | +4.6% |
| 2026-02-18 | $14.64 | +0.4% |
| 2026-02-17 | $14.58 | +2.6% |
| 2026-02-13 | $14.21 | +5.5% |
| 2026-02-12 | $13.47 | −14.9% |
| 2026-02-11 | $15.83 | −1.7% |
| 2026-02-10 | $16.11 | +0.2% |
| 2026-02-09 | $16.07 | +1.1% |
| 2026-02-06 | $15.90 | +2.7% |
| 2026-02-05 | $15.48 | −1.3% |
| 2026-02-04 | $15.68 | −0.4% |
| 2026-02-03 | $15.75 | −0.6% |
| 2026-02-02 | $15.84 | −0.9% |
| 2026-01-30 | $15.98 | −2.2% |
| 2026-01-29 | $16.34 | +1.8% |
| 2026-01-28 | $16.05 | −2.0% |
| 2026-01-27 | $16.37 | −2.7% |
| 2026-01-26 | $16.82 | −9.3% |
| 2026-01-23 | $18.55 | −0.1% |
| 2026-01-22 | $18.57 | +3.8% |
| 2026-01-21 | $17.89 | +0.8% |
| 2026-01-20 | $17.75 | +0.9% |
| 2026-01-16 | $17.59 | +0.6% |
| 2026-01-15 | $17.49 | +1.4% |
| 2026-01-14 | $17.25 | +0.5% |
| 2026-01-13 | $17.16 | −1.2% |
| 2026-01-12 | $17.36 | −0.8% |
| 2026-01-09 | $17.50 | +4.5% |
| 2026-01-08 | $16.74 | +3.4% |
| 2026-01-07 | $16.19 | +0.4% |
| 2026-01-06 | $16.12 | −2.8% |
| 2026-01-05 | $16.59 | +4.1% |
| 2026-01-02 | $15.93 | −1.2% |
| 2025-12-31 | $16.12 | +0.5% |
| 2025-12-30 | $16.04 | −2.8% |
| 2025-12-29 | $16.50 | +1.2% |
| 2025-12-26 | $16.31 | −1.3% |
| 2025-12-24 | $16.53 | +2.0% |
| 2025-12-23 | $16.21 | −3.2% |
| 2025-12-22 | $16.74 | +4.8% |
| 2025-12-19 | $15.98 | −3.3% |
| 2025-12-18 | $16.53 | −0.4% |
| 2025-12-17 | $16.59 | +0.1% |
| 2025-12-16 | $16.58 | −0.4% |
| 2025-12-15 | $16.65 | −1.1% |
| 2025-12-12 | $16.83 | −2.1% |
| 2025-12-11 | $17.19 | +3.0% |
| 2025-12-10 | $16.69 | +0.2% |
| 2025-12-09 | $16.65 | −0.8% |
| 2025-12-08 | $16.78 | −1.9% |
| 2025-12-05 | $17.11 | −0.3% |
| 2025-12-04 | $17.16 | +0.4% |
| 2025-12-03 | $17.10 | +2.8% |
| 2025-12-02 | $16.63 | +3.1% |
| 2025-12-01 | $16.13 | +2.3% |
| 2025-11-28 | $15.76 | +1.2% |
| 2025-11-26 | $15.58 | −0.2% |
| 2025-11-25 | $15.61 | +2.1% |
| 2025-11-24 | $15.29 | +1.6% |
| 2025-11-21 | $15.05 | +1.2% |
| 2025-11-20 | $14.87 | −0.2% |
| 2025-11-19 | $14.90 | +1.0% |
| 2025-11-18 | $14.75 | +1.0% |
| 2025-11-17 | $14.60 | −4.1% |
| 2025-11-14 | $15.22 | +4.4% |
| 2025-11-13 | $14.58 | −2.3% |
| 2025-11-12 | $14.93 | +0.6% |
| 2025-11-11 | $14.84 | −0.9% |
| 2025-11-10 | $14.98 | −1.0% |
| 2025-11-07 | $15.13 | −1.8% |
| 2025-11-06 | $15.41 | −8.3% |
| 2025-11-05 | $16.81 | +2.6% |
| 2025-11-04 | $16.38 | −2.6% |
| 2025-11-03 | $16.81 | −0.9% |
| 2025-10-31 | $16.97 | +2.8% |
| 2025-10-30 | $16.51 | −1.0% |
| 2025-10-29 | $16.68 | −0.1% |
| 2025-10-28 | $16.69 | −1.8% |
| 2025-10-27 | $16.99 | −1.6% |
| 2025-10-24 | $17.27 | −0.4% |
| 2025-10-23 | $17.34 | +1.5% |
| 2025-10-22 | $17.09 | −2.2% |
| 2025-10-21 | $17.47 | +2.8% |
| 2025-10-20 | $17.00 | −0.1% |
| 2025-10-17 | $17.02 | +1.7% |
| 2025-10-16 | $16.74 | −3.2% |
| 2025-10-15 | $17.29 | −0.9% |
| 2025-10-14 | $17.45 | +0.7% |
| 2025-10-13 | $17.33 | −2.0% |
| 2025-10-10 | $17.69 | −3.1% |
| 2025-10-09 | $18.25 | −1.7% |
| 2025-10-08 | $18.56 | −1.5% |
| 2025-10-07 | $18.85 | −2.9% |
| 2025-10-06 | $19.42 | −3.9% |
| 2025-10-03 | $20.21 | +0.6% |
| 2025-10-02 | $20.09 | −7.1% |
| 2025-10-01 | $21.62 | +5.5% |
| 2025-09-30 | $20.49 | −2.3% |
| 2025-09-29 | $20.98 | +0.4% |
| 2025-09-26 | $20.90 | −0.1% |
| 2025-09-25 | $20.92 | −2.7% |
| 2025-09-24 | $21.50 | +1.0% |
| 2025-09-23 | $21.29 | −0.7% |
| 2025-09-22 | $21.44 | −1.7% |
| 2025-09-19 | $21.81 | −0.8% |
| 2025-09-18 | $21.98 | +1.7% |
| 2025-09-17 | $21.61 | −2.0% |
| 2025-09-16 | $22.04 | +0.9% |
| 2025-09-15 | $21.85 | −0.9% |
| 2025-09-12 | $22.05 | −4.1% |
| 2025-09-11 | $23.00 | +8.0% |
| 2025-09-10 | $21.30 | −1.3% |
| 2025-09-09 | $21.57 | +4.2% |
| 2025-09-08 | $20.70 | +0.3% |
| 2025-09-05 | $20.63 | −2.4% |
| 2025-09-04 | $21.14 | +0.5% |
| 2025-09-03 | $21.03 | +0.2% |
| 2025-09-02 | $20.98 | +1.2% |
| 2025-08-29 | $20.74 | +0.7% |
| 2025-08-28 | $20.60 | −1.0% |
| 2025-08-27 | $20.81 | +0.5% |
| 2025-08-26 | $20.71 | −1.5% |
| 2025-08-25 | $21.03 | −1.9% |
| 2025-08-22 | $21.43 | +1.3% |
| 2025-08-21 | $21.16 | −3.2% |
| 2025-08-20 | $21.86 | +0.6% |
| 2025-08-19 | $21.72 | +3.9% |
| 2025-08-18 | $20.91 | −0.5% |
| 2025-08-15 | $21.01 | +1.2% |
| 2025-08-14 | $20.76 | +0.6% |
| 2025-08-13 | $20.64 | −0.8% |
| 2025-08-12 | $20.81 | +2.8% |
| 2025-08-11 | $20.25 | −5.1% |
| 2025-08-08 | $21.33 | −0.8% |
| 2025-08-07 | $21.50 | −6.0% |
| 2025-08-06 | $22.88 | −11.5% |
| 2025-08-05 | $25.84 | +3.8% |
| 2025-08-04 | $24.90 | −0.4% |
| 2025-08-01 | $25.00 | −3.5% |
| 2025-07-31 | $25.92 | +1.8% |
| 2025-07-30 | $25.45 | −0.4% |
| 2025-07-29 | $25.56 | −1.8% |
| 2025-07-28 | $26.02 | −0.3% |
| 2025-07-25 | $26.10 | +6.3% |
| 2025-07-24 | $24.55 | +3.7% |
| 2025-07-23 | $23.67 | 0.0% |
| 2025-07-22 | $23.67 | −1.8% |
| 2025-07-21 | $24.11 | −1.7% |
| 2025-07-18 | $24.52 | −2.8% |
| 2025-07-17 | $25.22 | −1.1% |
| 2025-07-16 | $25.51 | +1.9% |
| 2025-07-15 | $25.04 | −4.8% |
| 2025-07-14 | $26.30 | +1.4% |
| 2025-07-11 | $25.93 | −0.8% |
| 2025-07-10 | $26.13 | −0.8% |
| 2025-07-09 | $26.33 | +1.9% |
| 2025-07-08 | $25.84 | −2.3% |
| 2025-07-07 | $26.46 | +4.5% |
| 2025-07-03 | $25.32 | +2.8% |
| 2025-07-02 | $24.63 | +0.6% |
| 2025-07-01 | $24.49 | +2.3% |
| 2025-06-30 | $23.95 | +0.7% |
| 2025-06-27 | $23.78 | +1.6% |
| 2025-06-26 | $23.41 | +1.3% |
| 2025-06-25 | $23.11 | −0.7% |
| 2025-06-24 | $23.27 | −0.8% |
| 2025-06-23 | $23.45 | +0.7% |
| 2025-06-20 | $23.28 | −3.7% |
| 2025-06-18 | $24.17 | +0.4% |
| 2025-06-17 | $24.07 | −3.3% |
| 2025-06-16 | $24.90 | +1.1% |
| 2025-06-13 | $24.62 | −7.2% |
| 2025-06-12 | $26.52 | +1.5% |
| 2025-06-11 | $26.12 | −3.1% |
| 2025-06-10 | $26.96 | 0.0% |
| 2025-06-09 | $26.96 | 0.0% |
| 2025-06-06 | $26.95 | +2.9% |
| 2025-06-05 | $26.20 | −2.2% |
| 2025-06-04 | $26.79 | −0.5% |
| 2025-06-03 | $26.93 | −0.6% |
| 2025-06-02 | $27.08 |
The sale was announced before the open on Oct. 5, after the last close in this chart.8-K Source: Tiingo end-of-day closes, as traded, via KeyVex.
What GEO sold, and what it kept
The complex is three facilities: Adelanto West, with 1,280 beds; Adelanto East, with 660; and the Desert View Annex, with 704. The sale was signed and closed the same day.8-K
GEO keeps the work. It expects to keep providing services under its existing ICE contract, whose current term ends Dec. 19, 2029, with a five-year option to Dec. 19, 2034. ICE can end the contract if funds are not appropriated, or for convenience, and GEO says it can give no assurance it will keep managing the facilities.8-K
That split is GEO's stated plan. "We are pursuing a potential sale of the buildings, but we want to retain the business," Chief Executive George Zoley said on GEO's August call, the Los Angeles Times reported. He said then that ICE was contemplating buying more than 10 facilities, the Times reported.LA Times
What the records say Adelanto cost
GEO bought the 650-bed Desert Sands facility, now Adelanto East, from the city in June 2010 for about $28 million.10-Q10-K It began holding immigration detainees there in August 2011, under a contract with the city, and built next to it. By 2015, Adelanto held 1,940 beds.10-K10-K The Desert View Annex, also in Adelanto, brings the complex to 2,644.8-K
GEO last listed each property's cost in its report for 2020, its final year as a real estate investment trust. The two Adelanto properties had cost about $204 million, before depreciation.10-K That is what GEO spent on them, not what they were worth. CalMatters reported that Homeland Security paid about 4.3 to 4.5 times county-assessed value for CoreCivic's two California centers. CoreCivic told CalMatters the valuations were established through the federal government's required appraisal process, and that under California's Proposition 13 assessed values can diverge from market value.CalMatters
View the data
| Adelanto | Millions of dollars | Note |
|---|---|---|
| What Homeland Security paid (Oct. 2, 2026, all three facilities) | $950M | Gross price; GEO expects about $705 million after taxes, fees and expenses |
| What ICE has committed to GEO for services (For services, Dec. 2019 to Oct. 5, 2026) | $900M | 11 task orders, $899,853,827 in all, through an order that runs to Sept. 19, 2027 (USAspending). For detention and related services, not part of the price |
| The complex's cost on GEO's books (Gross cost, Dec. 31, 2020) | $204M | Adelanto ICE Processing Center $166.4M plus Desert View Annex $37.5M, before $39.2M of depreciation. Cost, not market value |
| What GEO paid for the first building (June 2010, 650 beds) | $28M | The Desert Sands facility, bought from the City of Adelanto for about $28.0M; now Adelanto East |
Book cost is gross cost at Dec. 31, 2020, before depreciation, and is not a market value. ICE's commitments pay for detention and related services and are not part of the price; they include orders that run into 2027. Sources: GEO Group's 2010 10-Q, 2020 10-K and Oct. 5, 2026 8-K; USAspending.
What ICE pays GEO to run it
ICE and GEO signed the Adelanto contract on Dec. 19, 2019, for a five-year base period and two five-year options.10-K ICE pays through orders under the contract, and USAspending, the federal spending database, lists 11 of them, committing about $900 million in all. The latest, for the consolidated Adelanto and Desert View centers, began Sept. 20, 2026, and runs to Sept. 19, 2027. With all options, the contract could reach about $2.9 billion.USAspending
Seven facilities, about $3.2 billion
CoreCivic's four sales came in two batches, on July 2 and Aug. 4.8-K8-K One of them, the Prairie Correctional Facility in Minnesota, had been idle since 2010, CoreCivic said; it sold for about $495.6 million, and CoreCivic has signed a new contract with ICE to manage it.8-K
What Homeland Security paid per bed in its five purchasesShow chartHide chart
View the data
| Facility | Price per bed | Note |
|---|---|---|
| Otay Mesa, San Diego (CoreCivic, July 2) | $371K | $739.2M for 1,994 beds |
| Adelanto complex, California (GEO, Oct. 2) | $359K | $950M for 2,644 beds in three facilities |
| Prairie, Appleton, Minnesota (CoreCivic, Aug. 4) | $310K | $495.6M for 1,600 beds; idle since 2010, CoreCivic said |
| California City, California (CoreCivic, July 2) | $286K | $732.6M for 2,560 beds |
| Midwest, Leavenworth, Kansas (CoreCivic, Aug. 4) | $231K | $238.4M for 1,033 beds |
Adelanto came to about $359,000 a bed, between CoreCivic's highest and lowest. Prices and bed counts are as each 8-K states them. Sources: GEO Group 8-K, Oct. 5, 2026; CoreCivic 8-Ks, July 6 and Aug. 5, 2026.
The One Big Beautiful Bill Act gave ICE $45 billion for detention, the Los Angeles Times and CalMatters reported.LA TimesCalMatters
Why the government wants to own them
ICE has said it cannot count on California for detention space. "ICE can not rely on local state and county partners for detention space in California," spokesman Jason Sweeney said in a statement quoted by CalMatters in July.CalMatters
Zoley has argued for federal ownership too. On GEO's call in May, he said "the logical solution to much of that is federal ownership of the facilities," TIME reported, referring to states considering more oversight.TIME
Others describe what it changes. Federal ownership "limits the ability of state and local inspectors to try to gain some insight as to what is happening in there," Aaron Reichlin-Melnick, a senior fellow at the American Immigration Council, told TIME.TIME Claire Trickler-McNulty, a senior ICE official under President Biden, told CalMatters ownership "gives them protections from state and local laws, especially from zoning and environmental requirements."CalMatters
In July, after the CoreCivic sales, Anthony Martinez, a spokesman for Gov. Gavin Newsom, called the administration's deportation agenda a "reckless and cruel misuse of taxpayer money" and accused it of pouring billions into contractors, CalMatters reported.CalMatters
What GEO does with the money
GEO plans to use the proceeds to pay down debt, buy back stock and for other purposes, and raised its buyback authorization to $1.25 billion from $500 million.8-K At June 30 it owed about $1.54 billion.10-Q The new authorization runs through 2029 and does not oblige GEO to buy any shares. It is about 30% of GEO's market value at the Oct. 2 close, by KeyVex's math.8-K10-QChart data
GEO closed at $31.36 on Oct. 2, more than double its Feb. 20, 2026, close of $13.26, the lowest in the chart's range. The chart does not show what moved the stock.Chart data
GEO now says it is in "an active process" to sell several more of its facilities to ICE, as long as it keeps managing them under long-term contracts. Its Oct. 5 filing says there is no definitive agreement and no timeline.8-K
What to watch
CoreCivic's ICE contract at California City expires, per its July 6 filing.
ICE's latest Adelanto task order runs through this date, per USAspending.
The current term of GEO's Adelanto contract ends.
The contract's full term ends, if ICE uses its five-year option.
The paper trail
The sales and related filings by GEO and CoreCivic, July 6 through Oct. 5, 2026, with the time EDGAR accepted each one.
| Filed (ET) | Form | Filer | What it shows |
|---|---|---|---|
| July 6, 8:00 a.m. | 8-K | CoreCivic | Sold California City ($732.6 million) and Otay Mesa ($739.2 million) to Homeland Security on July 2; expects to keep managing both. |
| Aug. 5, 4:07 p.m. | 8-K | CoreCivic | Sold the Midwest Regional Reception Center ($238.4 million) and Prairie ($495.6 million) on Aug. 4. |
| Aug. 6, 4:03 p.m. | 10-Q | GEO Group | Debt of about $1.54 billion at June 30. Names a potential sale of multiple facilities to ICE among its uncertainties. |
| Aug. 10, 8:15 a.m. | 8-K | CoreCivic | A $500 million accelerated share repurchase. |
| Oct. 5, 6:57 a.m. | 8-K | GEO Group | Sold the Adelanto complex for $950 million on Oct. 2; keeps the ICE contract; buyback raised to $1.25 billion. |
Sources
17 sources, 12 of them public records
Public records
- The GEO Group, Inc., Form 8-K: sale of the Adelanto complexSEC EDGAR · Oct. 5, 2026
- The GEO Group, Inc., Form 8-K, Exhibit 99.1: press releaseSEC EDGAR · Oct. 5, 2026
- The GEO Group, Inc., Form 10-Q for the quarter ended June 30, 2026SEC EDGAR · Aug. 6, 2026
- The GEO Group, Inc., Form 10-K for 2025SEC EDGAR · Feb. 25, 2026
- The GEO Group, Inc., Form 10-Q for the quarter ended July 4, 2010SEC EDGAR · Aug. 13, 2010
- The GEO Group, Inc., Form 10-K for 2012SEC EDGAR · March 1, 2013
- The GEO Group, Inc., Form 10-K for 2015SEC EDGAR · Feb. 26, 2016
- The GEO Group, Inc., Form 10-K for 2020, Schedule III: real estate and accumulated depreciationSEC EDGAR · Feb. 16, 2021
- CoreCivic, Inc., Form 8-K: sale of the California City and Otay Mesa facilitiesSEC EDGAR · July 6, 2026
- CoreCivic, Inc., Form 8-K: sale of the Midwest Regional Reception Center and the Prairie Correctional FacilitySEC EDGAR · Aug. 5, 2026
- CoreCivic, Inc., Form 8-K: accelerated share repurchaseSEC EDGAR · Aug. 10, 2026
- ICE contract 70CDCR20D00000009 with The GEO Group, Inc.: detention services for the Los Angeles areaUSAspending.gov · checked Oct. 5, 2026
Reporting
- "DHS buys two detention centers in California for $950 million"Los Angeles Times · Oct. 5, 2026
- "What the sale of 2 ICE detention centers reveals about Trump's new immigration strategy"CalMatters · July 22, 2026
- "Why ICE Is Quietly Buying Up Private Detention Centers"TIME · Aug. 4, 2026
Data
- End-of-day prices for GEO, and for SPY and QQQ on the chart (Tiingo)KeyVex · through Oct. 2, 2026
- The chart's Filings layer: KeyVex's insider trade, Form 144, 8-K and lobbying records for GEOKeyVex · through Oct. 2, 2026
How we got these numbers
- Prices are end-of-day closes as traded, not adjusted for dividends. Every GEO close in the chart's Story range is in its data table. The S&P 500 and Nasdaq 100 lines follow SPY and QQQ, also as traded, rebased to GEO's close at the start of the range shown. The Filings switch shows the filing markers from KeyVex's GEO stock page, a selection of insider trades, Form 144 notices, 8-Ks and lobbying filings: not every filing, and not only those tied to this story.
- The $3.2 billion total adds the five purchase prices in the GEO and CoreCivic 8-Ks: $732.6 million, $739.2 million, $238.4 million, $495.6 million and $950 million, or $3.156 billion. CoreCivic's four come to $2.206 billion. Prices per bed divide each price by the bed count in the same filing.
- ICE's obligations are the 11 task orders USAspending lists under contract 70CDCR20D00000009, $899,853,827 in all, as of Oct. 5, 2026. Obligated money is money ICE has committed; USAspending's payment records for these orders are incomplete, so the story gives no paid figure; the latest order runs to Sept. 19, 2027. The ceiling with all options is $2,912,449,526.
- Book cost is the gross cost at Dec. 31, 2020, from Schedule III of GEO's 2020 annual report: $166,380,000 for the Adelanto ICE Processing Center and $37,505,000 for the Desert View Annex, $203.9 million in all, before $39.2 million of accumulated depreciation. GEO stopped publishing that schedule after it gave up its real estate investment trust status for 2021.
- Market value is 131,619,584 shares, as GEO reported on Aug. 3, 2026, times the Oct. 2 close of $31.36: about $4.13 billion. The $1.25 billion authorization is 30.3% of that.