Gwynedd Mercy University Sells 150-Acre Property to an Affiliate of Beacon Capital Partners for $31.5 Million
Gwynedd Mercy University today announced that an affiliate of Beacon Capital Partners, LLC purchased a 150-acre piece of property that sits adjacent to the University's Main Campus on Sumneytown Pike for $31.5 million. A portion of the proceeds from the sale will be used to support strategic investments that align with the University's vision of becoming a Catholic university leader in professional and healthcare education. More details on those plans will be shared later this month.
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The University made the decision to sell the property following a careful review of its space needs as part of a recently completed University Facilities Master Planning process, and significant interest from potential buyers.
"Just as our decision to purchase this property presented a once-in-a-lifetime opportunity to acquire a prime piece of real estate, the decision to sell it at this time will move the University forward in achieving our vision for the future," said Gwynedd Mercy University President Deanne H. D'Emilio, JD. "We remain focused on transforming our existing campus by adding more state-of-the-art facilities and technologies that support innovative teaching and learning initiatives designed to enhance existing programs and support new market-responsive programs. We are pleased we were able to come to an agreement with Beacon, which will use the property to support advancements in life sciences fields, an area that aligns with our focus on professional and healthcare innovation."
Beacon is a leader in the development of state-of-the-art life science research and development facilities and is focused on expanding its footprint in the Philadelphia area.
"This acquisition demonstrates our commitment to supporting suburban Philadelphia as a hub for life science research as it drives life-changing innovation. We're looking forward to working with the township in a thoughtful way to create a development plan thatincludes public spaces and life science training for the community," said Steve Purpura, President Life Sciences, Beacon Capital Partners. "We fully expect it will be the next chapter in the long history of innovation in the area, as well as bringing high-quality jobs and tax revenue."
Gwynedd Mercy University has recently embarked on a number of improvements to existing campus facilities and plans to make more changes over the next 24 months. More details on those plans will be shared shortly.
"As we approach our 75th anniversary and emerge from the pandemic with a clear vision and plan for the future, we are excited by the many opportunities the sale of this property presents for our current students and future alumni," said D'Emilio. "Our reputation for preparing Distinctive Mercy Graduates who make a real and lasting difference in the communities where they live and work is well known and we look forward to offering our students even more opportunities to achieve their dreams."
About Beacon Capital Partners, LLC
Beacon Capital Partners is a private real estate investment firm with a 75-year legacy of successful real estate development, ownership, and management. Beacon invests in high-quality office and life science properties in core markets with highly educated workforces. Beacon has refined a proprietary investment sourcing model and developed a robust operating platform to transform properties into distinctive workplaces that attract today's tenants. This hands-on approach transforms properties through innovative design, state-of-the-art connectivity, modern amenities, risk management, and award-winning sustainability initiatives. From Fortune 100 firms to the leading innovative and growth companies, Beacon's tenants are proud to call its distinctive workplaces home. Beacon is headquartered in Boston with offices in Chicago, Los Angeles, Denver, New York, San Francisco, Seattle, and Washington, D.C. For additional information, please visit www.beaconcapital.com.
About Gwynedd Mercy University
Gwynedd Mercy University prepares students to become top professionals in the fields of nursing and other health professions, arts and sciences, business, and education. Founded by the Sisters of Mercy in 1948, Gwynedd Mercy University is a co-educational institution offering more than 40 bachelor's, master's, and associate degree programs as well as two doctoral programs on a full- and part-time basis. The University's Main Campus is situated on 160 private acres on Sumneytown Pike between routes 309 and 202 in Gwynedd Valley, Montgomery County. The university also offers on-ground and online degree programs for working adults. Learn more at gmercyu.edu, or follow us on Facebook, Twitter and Instagram.