Note: This is the same physical facility as hagerstown-md-warehouse. This entry focuses on the financial chain; see hagerstown-md-warehouse for the full litigation and community fight timeline.

Overview

A long-vacant 825,620-square-foot warehouse at 16220 Wright Road in Williamsport, Maryland (rural western Maryland) was purchased by DHS on January 16, 2026 for $102.4 million to be converted into a 1,500-bed ICE detention center. The financial trail illustrates how the detention expansion functions as a wealth-rescue mechanism for institutional investors holding distressed assets. The project is currently paused — blocked by a federal TRO and the DHS-wide warehouse review under Secretary Mullin.

Ownership and Financial Chain

1. The warehouse served as a series of failed food processing and industrial facilities
2. Most recently owned by Fundrise, a direct-access alternative asset manager that allows investors to buy portions of properties (sold via entity FRND-Hopewell LLC)
3. The facility never took off — Fundrise consistently listed its continued vacancy as a liability on SEC financial disclosures
4. In late 2025, Goldman Sachs refinanced the property as part of a $352 million loan — months before DHS purchase
5. The property was then sold to the Department of Homeland Security for $102.4 million

The Pattern

The Goldman Sachs refinancing is significant: by refinancing a distressed property months before a federal purchase, Goldman positioned itself to recover its investment through the taxpayer-funded acquisition. The property went from being a listed liability on Fundrise’s SEC filings to a profitable exit via the ICE expansion.

Legal Challenge

• Feb 23, 2026: Maryland AG Anthony Brown sued DHS/ICE (NEPA + APA violations)
• Mar 11, 2026: U.S. District Judge Brendan Hurson issued Temporary Restraining Order
• Mar 19, 2026: TRO extended four more weeks
• Mar 26, 2026: Earthjustice/Center for Biological Diversity filed amicus (endangered mussels, water quality)
• Apr 1, 2026: DHS Secretary Mullin paused all new warehouse purchases; Williamsport specifically scaled back — DHS says it will not pursue retrofitting for detention until additional environmental analysis completed
• Apr 15, 2026: Hearing scheduled; ruling expected by Apr 16

Maryland has also passed the Dignity Not Detention Act to resist the warehouse program.

Goldman Sachs Connections

Goldman Sachs is also the former majority owner of the Roxbury, NJ warehouse purchased by ICE for $129.3 million (137% over value). Goldman’s Trump ties include Gary Cohn (NEC Director, first term) and Steve Mnuchin (Treasury Secretary, first term), plus second-term appointments.

Goldman Sachs told More Perfect Union: “As a lender, we are not involved in the operations and management of the portfolios of assets we lend to.”

Sources

• The World’s Biggest Banks May Be Benefiting from the ICE Warehouse Craze — More Perfect Union (April 7, 2026)
• DHS buys Hagerstown-area warehouse — Baltimore Banner (Jan 2026)
• Federal Judge Halts Hagerstown-Williamsport ICE Detention Construction — TANTV (Mar 2026)
• Feds reconsider plans — Baltimore Banner (Apr 2026)
• SEC financial disclosures (Fundrise)