Peace University completes purchase of Seaboard Station - WSPA.com

Peace University completes purchase of Seaboard Station

Posted: Updated:
RALEIGH, N.C. -

William Peace University is now the owner of the Seaboard Station property next to campus, the school announced late Monday.

School president Debra Townsley said in an email to constituents that Trademark Properties will manage the property for Peace.

She said the school has worked out a $10 million nonrecourse loan on the center and said Peace was investing $6.6 million,

She said the school is investing another $4.15 million in additional Seaboard property to support the retail center and the growth of the school.

"This investment in Seaboard Station marks an exciting chapter for Peace," Townsley said. "Seaboard Station is an integral part of the Raleigh community, and it will be an honor to work with this retail center to help it continue to grow and thrive."

The move comes with some risk for Peace, since the school is using a whopping part of its endowment to get the property. And it has raised some concerns at Seaboard about what Peace's longterm intentions are for the property, although Townsley has insisted Peace wants to maintain it as a retail facility.

RELATED STORIES

 
  • Top StoriesTop StoriesMore>>

  • Self Regional Laptop With Patient Info Stolen

    Self Regional Laptop With Patient Info Stolen

    Friday, July 25 2014 1:43 PM EDT2014-07-25 17:43:24 GMT
    Photo courtesy Self Regional HealthcarePhoto courtesy Self Regional Healthcare
    Self Regional Healthcare in Greenwood reports a hospital laptop was stolen two months ago and is now warning patients their personal information may be at risk.
    Self Regional Healthcare in Greenwood reports a hospital laptop was stolen two months ago and is now warning patients their personal information may be at risk.
  • Greenville Rally Against Hatred Scheduled In Response To KKK

    Greenville Rally Against Hatred Scheduled In Response To KKK

    Friday, July 25 2014 11:16 AM EDT2014-07-25 15:16:29 GMT
    Greenville will host its first ever Unity Rally Against Hatred on July 26th.Greenville will host its first ever Unity Rally Against Hatred on July 26th.
    The first Unity Rally Against Hatred will be held at the Hughes Main Library in Greenville on July 26th to address the motives of the KKK.
    The first Unity Rally Against Hatred will be held at the Hughes Main Library in Greenville on July 26th to address the motives of the KKK.
  • Train Derailment Causes Ethanol Cars To Flip Over In Spartanburg

    Train Derailment Causes Ethanol Cars To Flip Over In Spartanburg

    Friday, July 25 2014 7:11 AM EDT2014-07-25 11:11:28 GMT
    Police, Fire, and Hazmat Officials in Spartanburg are at the scene of a train derailment involving cars carrying ethanol that happened near Daniel Morgan Avenue early on July 25th.
    Police, Fire, and Hazmat Officials in Spartanburg are at the scene of a train derailment involving cars carrying ethanol that happened near Daniel Morgan Avenue early on July 25th.
Powered by WorldNow

250 International Dr.
Spartanburg, S.C. 29303

Telephone: 864.576.7777
Fax: 864.587.5430
Email: webmaster@wspa.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.