North Campus Sale Sought

North campus sale sought

Another in a long line of responses to an ongoing cash crunch, Averett University wants to sell — then lease back — its E. Stuart James North Campus, but first it must get the blessing of bondholders.

Averett University plans to sell athletic campus to Danville Regional Foundation, additional ‘regional investors’

Averett University is planning to sell its athletic campus in Danville in its ongoing effort to stabilize its finances.  A document dated Aug. 11 outlined the private university’s plan to sell the 70-acre E. Stuart James Grant North Campus on Mount Cross Road to investors for $18.15 million.  The notice was posted on the Municipal Securities Rulemaking Board, which enforces regulations on municipal bonds.  The university would lease back the pro…