DES MOINES, Iowa — AIB has sold the three apartment buildings on its campus.
The buildings at the southwest corner of AIB’s property were purchased for $2.25 million by Iowa Bell Terrace LLC and will now be known as Bell Terrace Apartments.
The property includes a total of 60 furnished, one-bedroom apartments and approximately four acres of land. Proceeds from the sale will be used for general educational operating expenses.
This is the last academic year for AIB. Once classes are completed the remaining cash from the sale will be transferred to the University of Iowa, which has been gifted the AIB campus.