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Atlantic Union College in Lancaster has found a buyer for its campus three years after the school officially closed permanently.
The site is under agreement, with a deal planned to close in September, Robert Cronin, an agent with the real estate firm Colliers International, said Thursday.
The news of the pending deal, first reported by the Worcester Telegram & Gazette, came as the sale of portions of the campus closed with the Worcester Registry of Deeds. Those sales, which totaled roughly $1.2 million, include multi-tenant residential buildings on campus and a home on Main Street about two blocks south of campus. The deed was signed Thursday.
A corporation registered to Worcester lawyer Michael Angelini and his late brother sold a 29-unit apartment complex in Leominster for $2.5 million to two Franklin buyers, who collectively own the nearby Hilltop Garden apartments and a piece of the former Atlantic Union College campus in Lancaster.
The seller, Maple Manor Realty Corp., is registered to Angelini, the chairman of Worcester law firm Bowditch & Dewey and the former chairman of the Hanover Insurance Group of Worcester, and his brother Gregory Angelini, a long-time Leominster attorney who passed away in November.
The new owners of the five-building site at 227 West St., called Maple Manor, are Raymond Safi and Bechara Fren, both of Franklin, who bought the site through a limited liability corporation. The sale, which closed Dec. 7, according to the Worcester Northern Registry of Deeds, puts the value of each unit at about $86,000. The two-acre site was last assessed by the City of Leominster at just under $1.8 million.