Laurentian University has finalized a deal to sell several properties to the province of Ontario. The university plans to use the proceeds—$53.5M from the sales—to pay creditors. Properties include the East Residence building, the Northern Ontario School of Medicine building, the land the Willet Green Miller Centre is on, a security and maintenance building, and select parking lots. “The completion of the sale of real estate assets to the Province is a critical step in enabling Laurentian University to complete the requirements of the CCAA [Companies’ Creditors Arrangement Act] process,” said Laurentian President Lynn Wells. “[W]e will be able to execute the final steps in the process and begin a new chapter in December 2025.”
