Greenleaf Capital, the Real Estate Division of HCI Group, Enters Into New Multi-Year Lease Agreement for Office Campus in Tampa
HCI Group (NYSE: HCI) has announced that GEICO has signed a multi-year lease agreement to fully occupy a three-building campus in Tampa, Florida, owned by its real estate division Greenleaf Capital. The office campus, acquired by Greenleaf in 2023, features approximately 190,000 square feet of leasable space and is currently reported at a carrying value of $17 million on HCI's balance sheet.
The agreement is expected to bring more than 1,000 new jobs to the local community. With GEICO as the tenant, the campus is now fully leased. The combination of property improvements and the long-term lease with a high-quality tenant is anticipated to enhance the equity value of the investment.
HCI Group (NYSE: HCI) ha annunciato che GEICO ha firmato un contratto di locazione pluriennale per occupare completamente un campus composto da tre edifici a Tampa, Florida, di proprietà della sua divisione immobiliare Greenleaf Capital. Il campus uffici, acquisito da Greenleaf nel 2023, presenta circa 190.000 piedi quadrati di spazio affittabile ed è attualmente riportato a un valore contabile di 17 milioni di dollari nel bilancio di HCI.
Si prevede che l'accordo porterà oltre 1.000 nuovi posti di lavoro nella comunità locale. Con GEICO come inquilino, il campus è ora completamente affittato. La combinazione di miglioramenti della proprietà e del contratto di locazione a lungo termine con un inquilino di alta qualità dovrebbe aumentare il valore patrimoniale dell'investimento.
HCI Group (NYSE: HCI) ha anunciado que GEICO ha firmado un contrato de arrendamiento a varios años para ocupar completamente un campus de tres edificios en Tampa, Florida, propiedad de su división inmobiliaria Greenleaf Capital. El campus de oficinas, adquirido por Greenleaf en 2023, cuenta con aproximadamente 190,000 pies cuadrados de espacio arrendable y actualmente se informa con un valor contable de 17 millones de dólares en el balance de HCI.
Se espera que el acuerdo genere más de 1,000 nuevos empleos para la comunidad local. Con GEICO como inquilino, el campus ahora está completamente arrendado. La combinación de mejoras en la propiedad y el contrato de arrendamiento a largo plazo con un inquilino de alta calidad se anticipa que aumentará el valor del capital de la inversión.
HCI 그룹 (NYSE: HCI)는 GEICO가 플로리다 주 탬파에 위치한 세 개의 건물로 구성된 캠퍼스를 완전히 차지하기 위해 다년간의 임대 계약을 체결했다고 발표했습니다. 이 캠퍼스는 HCI의 부동산 부문인 그린리프 캐피탈 소유입니다. 그린리프가 2023년에 인수한 이 사무실 캠퍼스는 약 190,000 평방피트의 임대 공간을 갖추고 있으며 현재 HCI의 대차대조표에서 1,700만 달러의 장부가치로 보고되고 있습니다.
이번 계약은 지역 사회에 1,000개 이상의 새로운 일자리를 창출할 것으로 예상됩니다. GEICO가 임차인으로 있는 캠퍼스는 이제 완전히 임대되었습니다. 자산 개선과 고품질 임차인과의 장기 임대 계약의 조합은 투자 자산의 자본 가치를 향상시킬 것으로 예상됩니다.
HCI Group (NYSE: HCI) a annoncé que GEICO a signé un contrat de location pluriannuel pour occuper entièrement un campus de trois bâtiments à Tampa, en Floride, appartenant à sa division immobilière Greenleaf Capital. Le campus de bureaux, acquis par Greenleaf en 2023, dispose d'environ 190 000 pieds carrés d'espace locatif et est actuellement évalué à une valeur comptable de 17 millions de dollars dans le bilan de HCI.
Il est prévu que cet accord génère plus de 1 000 nouveaux emplois pour la communauté locale. Avec GEICO comme locataire, le campus est désormais entièrement loué. La combinaison d'améliorations de la propriété et du bail à long terme avec un locataire de haute qualité devrait accroître la valeur des capitaux propres de l'investissement.
HCI Group (NYSE: HCI) hat angekündigt, dass GEICO einen mehrjährigen Mietvertrag unterzeichnet hat, um einen Campus mit drei Gebäuden in Tampa, Florida, vollständig zu belegen, der der Immobilienabteilung Greenleaf Capital gehört. Der Bürocampus, der 2023 von Greenleaf erworben wurde, umfasst etwa 190.000 Quadratfuß mietbare Fläche und wird derzeit mit einem Buchwert von 17 Millionen Dollar in der Bilanz von HCI ausgewiesen.
Es wird erwartet, dass der Vertrag mehr als 1.000 neue Arbeitsplätze in die lokale Gemeinschaft bringt. Mit GEICO als Mieter ist der Campus nun vollständig vermietet. Die Kombination aus Immobilienverbesserungen und dem langfristigen Mietvertrag mit einem hochwertigen Mieter wird voraussichtlich den Eigenkapitalwert der Investition steigern.
- Secured full occupancy with GEICO as long-term tenant
- Property will bring 1,000+ new jobs, indicating substantial lease revenue
- Campus fully leased, improving from previous vacancy
- Strategic improvements expected to enhance property's equity value beyond $17M carrying value
- None.
TAMPA, Fla., March 28, 2025 (GLOBE NEWSWIRE) -- HCI Group, Inc. (NYSE: HCI) announced today that GEICO has signed a multi-year lease agreement to fully occupy a three building campus in Tampa, Florida owned as an investment property by Greenleaf Capital, the company’s real-estate division.
“We are excited to secure a long-term tenant who plans to bring more than 1,000 new jobs to our local community,” said Paresh Patel, HCI’s chairman and chief executive officer.
Greenleaf acquired the office campus in 2023, which includes approximately 190,000 square feet of leasable space. HCI currently reports the office campus at a carrying value of approximately
“We believe the combination of property improvements and the long-term lease with a high-quality tenant greatly enhances the equity value of the investment. Greenleaf has a proven history of acquiring properties at favorable prices, enhancing them through strategic improvements, and generating tremendous long-term value for HCI shareholders,” said Paresh Patel, HCI’s chairman and chief executive officer.
About HCI Group, Inc.
HCI Group is a holding company with two distinct operating units. The first unit includes four top-performing insurance companies, a captive reinsurance company, and operations in claims management and real estate. The second unit, called Exzeo Group, is a leading innovator of insurance technology that utilizes advanced underwriting algorithms and data analytics. Exzeo empowers property and casualty insurers to transform underwriting outcomes and achieve industry-leading results.
The company's common shares trade on the New York Stock Exchange under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index. HCI Group, Inc. regularly publishes financial and other information in the Investor Information section of the company’s website. For more information about HCI Group and its subsidiaries, visit www.hcigroup.com.
Company Contact:
Bill Broomall, CFA
Investor Relations
HCI Group, Inc.
Tel (813) 776-1012
wbroomall@typtap.com
Investor Relations Contact:
Matt Glover
Gateway Group, Inc.
Tel 949-574-3860
HCI@gatewayir.com
FAQ
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