Everglades School Pays M For Keiser’s West Palm Campus

Everglades School Pays $30M For Keiser’s West Palm Campus

Everglades College’s Arthur Keiser with Keiser College constructing at 2085 Vista Park (Arthur Keiser, Google Maps, Getty)

Keiser University’s non-earnings mum or dad business bought the school’s West Palm Beach campus from a non-affiliated vendor for $30.2 million.

Everglades Faculty, which owns Fort Lauderdale-based mostly Keiser University and Boca Raton-based Everglades University, acquired the two-building complex at 2085 Vista Parkway in West Palm Seaside, records and Vizzda show. The buyer received two mortgages totaling $20 million from Amerant Bank.

The two-setting up intricate is household to Keiser’s chiropractic medication college, which Everglades Faculty earlier leased from the seller, according to Vizzda.

The seller is an affiliate of Fort Lauderdale-based Keenan Progress Group, led by President Bill Keenan. In 2003, the Keenan affiliate acquired the assets, but the deed does not listing the sale rate, data present. The two a few-story buildings spanning just about 100,000 square feet ended up done among 2004 and 2006.

Everglades College’s invest in of the business office setting up comes as Arthur Keiser, founder of both universities, and his loved ones members face Congressional accusations that they have received tens of millions of pounds from the two Florida educational facilities in violation of U.S. Office of Schooling rules, according to The Washington Article. Everglades Faculty is a non-revenue company, and Arthur Keiser serves as its vice president, corporate documents show.

A new House Training Committee probe identified that he lent Everglades College $321 million in 2011 to purchase his namesake college, at that time a for-revenue faculty, the Write-up documented. He has considering that been getting payments and desire on the mortgage, and is however owed about $60 million, 2019 tax filings reviewed by the committee show. The tax information also show that Keiser-similar businesses have received practically $8.9 million in payments from Everglades University.

Very last year, Keiser University affiliate marketers sold two Fort Lauderdale place of work properties to Everglades School for a combined $57.6 million, documents show. 1 constructing, at 1500 Northwest 49th Road, is Keiser University’s principal campus.

Everglades College or university also owns one more six properties in Palm Seaside County, which includes the previous West Palm Seaside campus of Michigan-based Northwood University, which the non-financial gain bought for $25 million in 2015, documents demonstrate.

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