AcquisitionsJul 10, 2026, 05:01 PM
Lincoln Educational Acquires Melrose Park Property for $18.8M
AI Summary
Lincoln Educational Services Corporation, through its subsidiary Lincoln Technical Institute, Inc., completed the acquisition of its Melrose Park, IL campus property for $18.8 million. The company secured a $15.04 million mortgage loan from Provident Bank to partially fund the purchase, with the remainder paid using cash on hand. The loan has an initial fixed interest rate of 5.99% for five years, matures in July 2036, and requires monthly payments of approximately $97,628.
Key Highlights
- Lincoln Technical Institute completed the acquisition of its Melrose Park, IL campus property on July 7, 2026.
- The purchase price for the property was $18,800,000.00.
- A mortgage loan of $15,040,000.00 was obtained from Provident Bank to fund a portion of the purchase.
- The remaining purchase price was funded by cash on hand.
- The loan accrues interest at an initial fixed rate of 5.99% per year for the first five years.
- The loan matures on July 1, 2036.
- Monthly installments of approximately $97,628, including principal and interest, begin August 1, 2026.
Price Impact
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