Subject: RLE
A&G Accepting Offers on 225 Acres of College Real Estate in Unity, Maine
After charting 10x enrollment growth, relocated Unity Environmental University (formerly Unity College) offers excess location with abundant amenities, in a wooded, bucolic setting
NEW GLOUCESTER, Maine, Aug. 9, 2023 /PRNewswire/ -- Unity Environmental University?a nonprofit, fully accredited institution with a main campus in New Gloucester?is offering for purchase its 225-acre, secondary teaching location at 90 Quaker Hill Rd. in Unity.
Bringing years of experience in the disposition of non-core educational real estate, A&G Real Estate Partners is marketing the property on behalf of the fast-growing school (formerly known as Unity College), which continues to attract national attention for its successful shift to remote and low-residence education for the next generation of environmental leaders.
"The University is bucking the trend of distress in higher education in a remarkable way," noted Emilio Amendola, Co-President of A&G and head of the New York-based firm's real estate sales division. "It is operating in the black, launching new degree programs, and has grown from 600 to more than 7,500 students in just a few years, with projections of 10,000 students by 2025. This summer, it welcomed about 1,000 new full-time students?its largest-ever incoming class."
"The Quaker Hill Road property represents an extraordinary opportunity for a wide array of potential users," said Dr. Melik Peter Khoury, President of the University. "It is a beautiful location, situated on 225 acres surrounded by woodlands and hills and just a short walk from downtown Unity, with an abundance of amenities."
The property boasts nine residence halls, a heritage livestock barn, a student-activities building, classrooms, laboratories, dining halls, an arts center, a public library, a soccer field, cross-country trails, and more.
"These facilities are well-maintained, with buildings totaling more than 100,000 square feet and with approximately 600 beds in all," noted Christian Koulichkov, Managing Director, Real Estate Sales, A&G Real Estate Partners. "Since 2012, the institution has made significant capital investments?everything from new labs and dorms, to a new cafeteria?so this property's deferred maintenance is very low."
Unique physical plant features, such as an off-the-grid house with solar panels, as well as a dorm that runs on biomass, also could be of interest to organizations with ESG goals related to decarbonization and energy-efficiency, Koulichkov added.
Connected to broadband Internet through Maine's university system, the property boasts multiple housing opportunities, including:
- residence halls with suites;
- family apartments; and
- multiple cottages and independent homes (including large residences for university officials).
"The presence of multiple cafeterias, in addition to those residences, means this property is a strong fit for high-quality senior housing," Amendola noted. "The bucolic setting makes it the perfect place for a camp, spiritual retreat or recreational center, and the high-speed Internet access and well-equipped science labs also offer the possibility of a remote research facility. It's quite a mix."
Existing educational institutions also are logical buyers. "This property has a full complement of equipment and public safety facilities," Amendola noted. "By acquiring these assets in addition to the real estate, a school could be up and running with up to 600 students very quickly."
Locationally, the property is close to the tourist hotspot of Bangor, Maine, with easy North-South access along Interstate 95. "It's just half an hour from the festivals, events, parks and businesses of Waterville, Maine, so it's the best of both worlds," Koulichkov said.
A&G has sold more than $12 billion in real estate and leases in connection with M&A transactions, restructurings and other projects, in addition to arranging lease transactions for large campuses, most recently that of Cazenovia College. The New York-based firm's past engagements in the education sector include Bloomfield College, ITT/Daniel Webster College, Dowling College, The College of New Rochelle, Career Education Corp., and Kaplan University.
For more information on the 90 Quaker Hill Rd. property:
Media Contacts: At Jaffe Communications, Elisa Krantz, (908) 789-0700, [email protected]
SOURCE A&G Real Estate Partners
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