CentraCore Properties Trust (formerly Correctional Properties Trust) invested in and leased correctional and detention facilities. The self-administered real estate investment trust (REIT) owned more than a dozen correctional facilities, bought from operators such as government agencies. It leased the properties to facilities operators under triple-net lease agreements. The REIT's properties, which included work release centers and juvenile and adult correctional facilities, had a total capacity of more than 7,500 beds. The company made essentially all of its revenue through rents. The GEO Group acquired CentraCore in 2007.