Xerox Sells Leesburg Training Campus

Xerox has sold its Document University property near Leesburg, VA to a partnership of Oxford Capital Partners of Chicago and Whitehall Funds, which is managed by Goldman Sachs. The price was $30.9 million.

Xerox agreed to lease back about half the space for five years as part of the deal. The 1.2-million-sf complex on 110 acres north of Route 7 includes classrooms, meeting facilities, living quarters, a fitness and recreation center and about 950 hotel rooms. Oxford, which has invested in several conference centers, plans to spend about $29 million to add a 10,000-sf ballroom, upgrade its technological capabilities and renovate most of the guest rooms.