Dowling College OK’d to sell Oakdale campus for $26.5 million

By Caroline Salls

Pittsburgh, April 12 – Dowling College received court approval of the $26.5 million sale of its Oakdale, N.Y., campus to Princeton Education Center LLC, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Eastern District of New York.

NCF Capital Ltd. is the back-up bidder, with a $26.1 million offer.

As previously reported, the court denied approval to pay a termination fee and expense reimbursement to stalking horse bidder Vanderbilt Palace LLC.

Dowling is based in Oakdale, N.Y. The college filed for bankruptcy on Nov. 29 under Chapter 11 case number 16-75545.

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