A&G Accepting Offers on 225 Acres of College Real Estate in Unity, Maine

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Aug 09, 2023, 08:33 ET

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:

https://www.agrep.com/Unity

Media Contacts: At Jaffe Communications, Elisa Krantz, (908) 789-0700, [email protected]

SOURCE A&G Real Estate Partners