Getting Rich Off ICE Warehouse Deals
Multiple ICE warehouses were sold by people in Trump’s circle who were sitting on the properties and losing money. Reporters dug into it, and found that some properties were bought by the feds for 10x their list price.
Per an AI Google Search, a small group of private prison operators, prominent real estate firms, major financial institutions, and specialized logistics contractors are reaping billions in Immigration and Customs Enforcement contracts to acquire and convert vacant warehouses into a massive national detention network.
Investigations reveal that ICE has routinely overpaid for these properties, awarding no-bid contracts and funneling taxpayer funds to connected entities. The major players profiting include:
CoreCivic: Secured numerous no-bid contracts, including a reactivated prison in Leavenworth, Kansas, that nets the contractor approximately $60 million in annual revenue.
GEO Group: Awarded a massive 15-year contract worth $1 billion to manage the Delaney Hall facility in New Jersey, far exceeding the typical 1- to 5-year term for private detention contracts.
Financial Institutions and Real Estate Firms
- Deutsche Bank: Sold a Salt Lake City warehouse that ICE converted into a 10,000-bed facility. Valued at $97 million, ICE bought it for $145 million, resulting in a nearly $50 million windfall.
- Blue Owl: A private capital firm that sold a Tremont, Pennsylvania, warehouse to ICE for roughly $120 million (double its $60 million valuation). Reports indicate at least 33 members of the administration have investments here.
- Goldman Sachs: Cashed in by selling a 470,000-square-foot vacant industrial warehouse in Roxbury, New Jersey, to ICE for $129.3 million.
Logistics and Aviation Contractors
- CSI Aviation: Secured massive contracts handling domestic and international removal flights. In the span of a year, the company’s revenues rose 238% to $1.23 billion.
- MVM Inc.: Awarded $1.1 billion to transport unaccompanied migrant children and families to detention centers.
- KVG & SK2: Two logistical firms that, along with a few other formerly uncontracted firms, divided over $1.7 billion to acquire, renovate, and provide services for the new warehouse locations.
Lawmakers and federal watchdogs have launched investigations into these subsidized ICE warehouse purchases, citing inflated purchase markups and severe conflicts of interest.
