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  #1  
Old 12-18-2011, 05:46 PM
mglower mglower is offline
 
Join Date: Dec 2009
State: Pennsylvania
Professional Status: Appraiser Trainee
Posts: 7
Default Correctional Facility Data Needed

Hi --

I'm new to posting, but read AF a lot. Please excuse me if my post is a little "newbie" -- I am.

I plan to do a research project on correctional facilities (community correctional facilities - CCFs -like halfway houses, or residential drug treatment centers). I hope it turns out well enough to use as a research report for the MAI demo. The problem, of course, is lack of data.

If anyone has information about transactions of community correctional facilities, I would appreciate the information.

Helpful advice (about CCFs or about research demos) is also welcome, as well.

Many thanks in advance.
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  #2  
Old 12-18-2011, 05:53 PM
Roy Courtney Roy Courtney is offline
 
Join Date: Dec 2006
State: Texas
Professional Status: Certified General Appraiser
Posts: 3,935
Default

You can get some information by checking out the websites for:
CCA - Corrections Corporation of America; and MTC - Management & Training Corporation. Both of these manage prison facilities for states or the federal prison system. In some cases they lease the facility from the government and in others they actually build and operate the facility. There is a bidding process with the government agencies. I would think that the terms of the bid would be available as public information. I hope this is helpful!
  #3  
Old 12-18-2011, 07:34 PM
mglower mglower is offline
 
Join Date: Dec 2009
State: Pennsylvania
Professional Status: Appraiser Trainee
Posts: 7
Default Thanks - have checked out CCA and Geo

Thanks for the quick reply. I actually have a few Pennsylvania contracts (they can be obtained through FOIA), so I have a taste of the revenue side. The government pays per inmate night, so these properties appear to have some things in common with hospitality properties.

I'd like to get some more information on the expense side, as well as real estate rents/sales for these properties.

If anyone has a contact at Geo or CCA that would be helpful. I will eventually try to cold-call Geo and CCA, but a contact there would increase my success. MTC is new to me -- I will look that up, thanks.

And any leads on operations/sales by smaller providers would be appreciated.

Thanks again for your support in this fascinating project.

Last edited by mglower : 12-18-2011 at 07:50 PM.
  #4  
Old 12-18-2011, 07:59 PM
Roy Courtney Roy Courtney is offline
 
Join Date: Dec 2006
State: Texas
Professional Status: Certified General Appraiser
Posts: 3,935
Default

I agree that they are a little like hospitality properties. Many hotels have a restaurant but it is operated by a seperate entity. These correctional facilities provide medical care that is operated by a different party. They usually have the food service, commissary, counselling, education, etc. provided by seperate contracts.
  #5  
Old 12-19-2011, 12:13 PM
PL1957 PL1957 is offline
 
Join Date: Jul 2004
State: Illinois
Professional Status: Certified General Appraiser
Posts: 2,509
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Keith Holbrook, MAI specializes in correctional facilities. He's in Shreveport, LA.
  #6  
Old 12-19-2011, 12:39 PM
grizphan grizphan is offline
 
Join Date: Dec 2007
State: Montana
Professional Status: Certified General Appraiser
Posts: 7
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I've appraised several correctional facilities and if you ever listen to a stranger on the internet do now. Forget about doing it for your demo. It won't pass and will be a total waste of your time.
  #7  
Old 12-19-2011, 01:02 PM
Michael S Michael S is offline
 
Join Date: Mar 2009
Location: Albuquerque
State: New Mexico
Professional Status: Certified General Appraiser
Posts: 1,038
Default

I came across this a few days ago, contracts for four private prisons in New Mexico.

http://newmexico.watchdog.org/10368/...rated-prisons/
  #8  
Old 12-19-2011, 07:13 PM
mglower mglower is offline
 
Join Date: Dec 2009
State: Pennsylvania
Professional Status: Appraiser Trainee
Posts: 7
Default Thanks for help.

Thank you, PL1957, for the contact. An MAI that does correctional facilities! Awesome!

And Grizphan, the advice is appreciated. I am planning to do a research project, so I will not be doing the usual demo report. You are so right, a demo on a correctional facility would be a nightmare. I'm hoping a research project isn't also -- though I'll have to let you know. If you did a few appraisals of correctional facilities, can you share more of exactly what the difficulty was? I've done a few, and the data provided (or not) by the operator was difficult to verify, and we had serious issues trying to separate out the real estate from the going concern.

To Michael S. -- those contracts are wonderful. Both Geo and CCA contracts. Very nice, many thanks.
  #9  
Old 12-19-2011, 07:32 PM
mglower mglower is offline
 
Join Date: Dec 2009
State: Pennsylvania
Professional Status: Appraiser Trainee
Posts: 7
Default Trying to Separate Parts

These community correctional facilities are usually small, so they don't contract out for food service, and they'll drive the residents to outside medical services. They hire their own staff of counselors and security staff as well.

I am hoping to get enough information that I can establish a baseline of what it costs to provide the services for the business part of the operation -- aside from the real estate.
  #10  
Old 12-20-2011, 08:54 AM
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justinschroeder justinschroeder is offline
 
Join Date: Sep 2007
State: Illinois
Professional Status: Certified General Appraiser
Posts: 86
Default

I dont know if it will help but there is a prison in Thompson, IL that was built by the state about 10 years ago and never opened. The federal government is currently trying to purchase it. There are several news articles online about it.
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