DALLAS, Texas--La Roche College, a coeducational, private college with a campus in Pittsburgh, Pennsylvania, entered into a purchase and sale agreement Aug. 27 for the acquisition of the assets of the former Ambassador University campus in Big Sandy.
Included in the agreement is a feasibility period during which the prospective buyer determines if the property is suitable for its needs.
The prospective buyer intends to continue using the property as a liberal arts university, and expects that it will attract an international student body, according to William Kerr, president of La Roche College.
According to President Kerr: "La Roche is strongly committed to preparing students to become contributing members of our ever-changing global society. Having gained an education rich in the Christian tradition, coupled with career-focused professional experience and a liberal arts foundation, our graduates are highly marketable."
Bernie Schnippert, WCG director of Finance & Planning, said: "The WCG is pleased to know that the prospective buyer is an educational institution with a philosophical commitment to comparable values and vision for which we have used the property."
Bill Vaughan with the Dallas office of the Grubb & Ellis real estate firm represented both parties in the transaction.
According to Mr. Vaughan: "At its peak, Ambassador University had enrollment of about 1,200 students, plus faculty and staff. The re-opening of the university will represent a boon to the East Texas economy."
Monsignor Kerr said: "Enrollment could exceed the previous enrollment in just a few years."
The Ambassador University core campus is 228 acres in size, and it is surrounded by almost 2,000 acres of farm and timberland, also owned by the university.
It has about three-quarters of a million square feet of building improvements ranging from classrooms to office buildings, dormitories to private residences, as well as a convention center and field house.
Many of the improvements were completed in the early 1990s and are in excellent condition, Dr. Schnippert said.
Other property includes a nine-hole golf course; athletic and recreational facilities; two lakes; campgrounds with bath houses; an airstrip (almost one mile in length); an FM radio station; and on-site water and wastewater treatment facilities.
The contemplated sale also includes all of the personal property of the university, including library contents, Dr. Schnippert said.
HALL OF ADMINISTRATION--The Joseph W. Tkach Hall of
Administration,
which housed various administrative offices, was constructed in the early 1990s.
[Photos by Thomas C. Hanson]
ORIGINAL BUILDING--The building that housed the Roy D.
Hammer Library,
was originally known as the Redwood Building. It was a location for church services
in the early 1950s.
Copyright © Worldwide Church of God, 1998