Brown University Selling Multiple Properties in Desperate Bid to Increase Cash Flow
“It is an unprecedented move by the Ivy League school.”
Brown is having some serious financial difficulties. This news just confirms the severity of the situation.
GoLocal Providence reports:
EXCLUSIVE: Brown, Under Financial Pressure, Looks to Market 21 Properties Worth Tens of Millions
GoLocal has received a copy of an offering document by a commercial real estate firm – representing Brown University – that shows 21 properties being placed on the market for development or sale.
According to Providence tax assessor documents, the properties have a combined value of upwards of $30 million.
On most of the properties being marketed, Brown pays no taxes.
It is an unprecedented move by the Ivy League school.
Latest Move for Providence Ivy
Brown, who has come under fire for buying up tens of millions of dollars in properties, is now the seller, not the buyer.
GoLocal exposed how in one 18-month period, the University purchased approximately $100 million of real estate in a series of deals.
The shift in strategy comes following the recent financial downturn for Brown, caused in part by depleted gifts from major donors over allegations of antisemitism, as well as tremendous pressure being put on Brown and other “elite” schools for what the Trump administration has claimed are violations of students’ civil rights.
Presently, Brown is facing the loss of more than $500 million in federal funds and recently it was uncovered that the school was forced to borrow $300 million.
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Comments
And we’re supposed to be sad because….? Brown did this to itself. Send the WAAAmbulance….
Brown has become woke joke. In recent student survey 38% identify as LGBT. The need to raise money for “the community”.