A key hurdle vanished in the Wells College sale after Pleasant Rowland backed off her purchase rights, according to The Citizen. Her LLC waived its “right of first refusal,” clearing the way for a $12.5 million deal with the Hiawatha Institute.
That right had forced the college to offer Rowland the same deal first, complicating efforts to attract buyers. The Hiawatha Institute plans to use about 20% of the campus for an Indigenous college and redevelop the rest.
Rowland’s LLC still plans to buy two nearby properties for over $1 million and could reassert interest if the campus price drops.
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