WASHINGTON--(BUSINESS WIRE)--Easterly Government Properties, Inc. (NYSE:DEA), a fully integrated real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. Government, today announced the closing of an underwritten public offering of an aggregate of 7,046,012 shares of its common stock at a price to the public of $18.00 per share, consisting of 4,719,045 shares sold directly by the Company, including 919,045 shares sold pursuant to the exercise in full of the underwriters’ option to purchase additional shares, 1,500,000 shares sold on a forward basis in connection with certain forward sales agreements, and 826,967 shares sold by certain selling stockholders.

The gross proceeds from the offering of shares sold by the Company to the underwriters was approximately $85.0 million before deducting underwriting discounts, commissions and estimated offering expenses. The offering will result in an additional $27.0 million of gross proceeds to the Company, assuming the forward sales agreements are physically settled in full and before deducting underwriting discounts, commissions and estimated offering expenses.

The Company intends to utilize a portion of the net proceeds of the offering to fund its previously announced pending acquisition of a four-property portfolio. The balance of the net proceeds, if any, may be used to repay borrowings outstanding under our senior unsecured revolving credit facility, to fund other potential acquisition opportunities, for general corporate purposes, or a combination of the foregoing.

The Company did not receive any proceeds from the sale of the shares of its common stock by the selling stockholders in the offering.

About Easterly Government Properties, Inc.

Easterly Government Properties, Inc. (NYSE:DEA) is based in Washington, D.C., and focuses primarily on the acquisition, development and management of Class A commercial properties that are leased to the U.S. Government. Easterly’s experienced management team brings specialized insight into the strategy and needs of mission-critical U.S. Government agencies for properties leased through the U.S. General Services Administration (GSA). For further information on the Company and its properties, please visit www.easterlyreit.com.