CLINTON, IA—Colliers International in GreaterPhoenix, along with Howes & Jefferies Realtorsin Iowa, has just completed the sale of the private AshfordUniversity campus and athletic complex encompassing fourlocations in Clinton, IA.
"Overall, it was an atypical transaction," ToddNoel, executive vice president and national director ofColliers' educational services group, tells GlobeSt.com, primarilybecause it consisted of the whole campus instead of just itshousing or other portions, and it had to be completed ratherquickly.
The seller, San Diego-based Bridgepoint Education,Inc., had decided to cease operations this June, andwanted to give any buyer sufficient time to find a new tenant. Thebuyer was Clinton Catalyst, LLC, of Clinton, avalue-add, multi-disciplined private investor. Because this wasstructured as a sale leaseback, the property will continue toproduce rental income until June 2017, Noel says.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
