Belmont University officials announced Tuesday the $22.5 million sale of the former Watkins College of Art property in MetroCenter.
The new owners are a joint venture of affiliates of Nashville-based Chartwell Residential LLC and EJF Capital LLC of Arlington, Virginia.
As planned when the Belmont-Watkins merger was announced in January 2020 (read
here), net funds from the sale of the campus, with an address of
2298 Rosa L. Parks Blvd., will create an endowment to provide need- and merit-based scholarships for visual arts students in the Belmont University Watkins College of Art program. The endowed fund is expected to produce more than $800,000 annually for arts scholarships upon maturation.
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Belmont University announced on Tuesday, the sale of the former Watkins College of Art property to provide scholarships for visual arts students enrolled in Belmont’s Watkins College of Art.
The Rosa Parks Boulevard Campus was sold to a joint venture of affiliates of Chartwell Residential LLC and EJF Capital LLC for $22.5 million.
After the Belmont-Watkins merger was announced last year, the university announced plans to use the net funds from the sale of the property to create an endowment for need and merit-based scholarships. Upon maturation the fund is expected to generate more than $800,000 annually for art scholarships.