UC Investments Acquires Belmont University Campus in Sale-Leaseback
Notre Dame de Namur University (NDNU) in Belmont is selling its 97-acre property to University of California Investments. Terms weren’t disclosed. The sale-leaseback deal, which also includes Water Dog Lake, comes a few months after Stanford University dropped out of longstanding plans to develop the campus.
UC Investments will lease the existing campus facilities back to NDNU for up to five years, allowing the university to continue in-person instruction while planning its next phase of its campus location. Additionally, UC Investments committed to renovating the campus’ Ralston Mansion and Carriage House, both listed as National and California registered Historic Landmarks.
As part of the sales agreement, Water Dog Lake, the largest parkland in Belmont, will remain leased to the city of Belmont. The 50.5-acre preserve includes hiking trails and a stocked fishing lake.
The third-oldest college in California, NDNU was established in 1851 by the Sisters of Notre Dame de Namur.
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
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Northgate Real Estate Group
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Essex Property Trust, Inc.
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Josh A
California
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Bob Tuteur
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