| Business Summary | | Correctional
Properties
Trust
is
a
real
estate
investment
trust
(REIT)
that
capitalizes
on
the
growing
trend
toward
privatization
in
the
corrections
industry.
The
Company's
principal
business
strategy
is
to
acquire
correctional
and
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 |
| Financial Summary | | CPV
was
formed
as
a
real
estate
investment
trust
to
capitalize
on
the
growing
trend
toward
privatization
in
the
corrections
industry
by
acquiring
correctional
and
detention
facilities
from
both
private
prison
operators
and
governmental
entities.
For
the
six
months
ended
6/01,
revenues
increased
10%
to
$12.4
million.
Earnings
fell
1%
to
$4.3
million.
Results
reflect
the
purchase
of
Mountain
View
Correctional
Facility,
offset
by
increased
interest
expense. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| George Zoley, 51 Chairman
of Trustees' | -- | Charles Jones, 52 Pres,
CEO, Assistant Sec., Trustee | $292K | Richard Wackenhut, 53 Vice
Chairman, Trustee | -- | Clarence Anthony, 41 Trustee,
Director | -- | James Motta, 45 Trustee,
Director | -- | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|