CoreCivic (CXW) said Tuesday that it agreed to acquire Farmville Detention Center in Virginia for a total purchase price of about $67 million.
The transaction will be funded with cash on hand and borrowing from its revolving credit facility, according to the company.
CoreCivic said it expects to close the transaction of the 736-bed facility by acquiring 100% of the membership stakes in entities that own the center by July 1.
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