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CORRECTIONAL PROPERTIES TRUST (CVP) NYSE

   Correctional Properties Trust  CPV on the NYSE a Palm Beach Gardens, Fl. Company has replaced Wackenhut Corp. for the March 5th presentation at Deer Creek CC.  Thanks go to Martin Kamin for deftly  making them an offer they couldn’t refuse and bringing in another great company. We could have had a bad situation and a $3,000 expense we didn’t need.  I have previously discussed this risk with our board and have a solution for next years meetings. F.Y.I. CPV business is buying correctional and detention facilities.  Fortunately we will not be eating prison food just the usually fine dinner that Deer Creek serves up.  

Gary Wohrle, President

 

QUICK SKETCH:  and  YAHOO INVESTMENT INFORMATION Market Guide
  The company provides detention facilities from both private prison operators and governmental entities, and to lease such facilities to correctional and detention facility operators under long-term, non-cancelable, triple-net leases (leases where the tenant is required to pay all operating expenses, taxes, insurance, structural and non-structural repairs and other costs). The Company owned and leased 11 correctional properties in eight states, with an aggregate design capacity of 6,130 beds, as of year-end 2000. The 11 facilities consist of eight Initial Facilities acquired in connection with the Company's IPO, the Lea County Correctional Facility and the Lawton Correctional Facility purchase in January 1999 and the Jena Juvenile Correctional Facility purchased in January 2000.
More from Market Guide: Expanded Business Description


 

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