Greenleaf Capital, the Real Estate Division of HCI Group, Enters Into New Multi-Year Lease Agreement for Office Campus in Tampa

Core Viewpoint - HCI Group, Inc. has secured a long-term lease agreement with GEICO for a three-building campus in Tampa, Florida, which is expected to create over 1,000 new jobs in the local community [1][2]. Group 1: Lease Agreement and Job Creation - GEICO has signed a multi-year lease to fully occupy a campus owned by Greenleaf Capital, HCI's real estate division [1]. - The lease agreement is anticipated to bring more than 1,000 new jobs to the Tampa area [1]. Group 2: Property Acquisition and Valuation - Greenleaf acquired the office campus in 2023, which consists of approximately 190,000 square feet of leasable space [2]. - The carrying value of the office campus on HCI's balance sheet is approximately $17 million [2]. Group 3: Investment Value Enhancement - The combination of property improvements and the long-term lease with a high-quality tenant is expected to significantly enhance the equity value of the investment [3]. - Greenleaf has a history of acquiring properties at favorable prices and enhancing them to generate long-term value for HCI shareholders [3]. Group 4: Company Overview - HCI Group operates through two distinct units: one includes insurance companies and real estate, while the other, Exzeo Group, focuses on insurance technology [4]. - HCI Group's common shares are traded on the NYSE under the ticker symbol "HCI" and are included in the Russell 2000 and S&P SmallCap 600 Index [5].