FORT WORTH - Texas A&M University has acquired the former Texas Wesleyan School of Law for $73.2 million from Texas Wesleyan University.
According to Texas Wesleyan President Frederick Slabach, Wesleyan has entered into a five-year property lease purchase with Texas A&M. The lease terms are $1.4 million the first year, then four payments of $1.7 million for the remaining four years, and at the end of the five-year lease Texas A&M will pay $11 million to acquire the property.
Texas A&M acquired the law school for $54 million. The A&M system paid Texas Wesleyan $30 million at closing and will make four annual payments of $6 million each.
Texas A&M University System Chancellor John Sharp described the transition to Texas A&M ownership going very well. “We are also discussing ways to further enhance our curriculum and related programs to provide the best legal education possible,” said Sharp.
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