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Article: DeVry University Completes Sale of West Hills Facility and Announces Sherman Oaks Location; Sale part of ongoing real estate strategy to match facility needs with student population.
- Article from:
- Business Wire
- Article date:
- September 12, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OAKBROOK TERRACE, Ill. -- DeVry University, a subsidiary of DeVry Inc.(NYSE:DV), announced that on September 7, 2006, it completed the sale of its building and land located at 22801 Roscoe Boulevard in West Hills, California for $36 million. DeVry University will lease back the property for three months with an option to extend the lease if its new Sherman Oaks facility is not ready for occupancy. The pre-tax gain on the sale, net of expected charges for the leaseback, is approximately $19 million. Proceeds from the sale will be used to reduce debt and for general corporate purposes.
Situated in the iconic Sherman Oaks Galleria, also known as the "town center" of ...