Miles College has officially reached an agreement to acquire the 192-acre campus of Birmingham-Southern College, which closed its doors due to ongoing financial challenges. The deal was unanimously ratified by the trustees of Miles College, marking a significant step for the institution.
This acquisition follows the suspension of operations at Birmingham-Southern in May, which resulted from a failed attempt to secure a $30 million loan from the state. While the specifics of the transaction have not been made public, it is known that the financial assets associated with Birmingham-Southern included land valued at $2.2 million and buildings appraised at $147.4 million as of May 2023.
Innovation and Collaboration
Miles College is optimistic that this acquisition will serve as a catalyst for collaboration and innovation within its academic programs. The institution aims to strengthen partnerships both locally and globally through this expansion.
Clarification on the Sale
Birmingham-Southern President Daniel Coleman has clarified that the sale pertains exclusively to the physical campus and does not involve the college as an institution, which is currently in the process of winding down its operations.
