Brunswick School buys Tudor Investment property
Brunswick School has bought Tudor Investment campus for $34 million (£25.62 million)
The deal between Brunswick School and Tudor Investment is complete for $34 million (£25.62 million) and Tom Philip, the headmaster at the school is pretty excited about it, and reasonable so. The school now plans to expand in a big way now at the 43-acre property it has bought from the hedge fund giant valued at $30,356,340 (£22,891,715), according to tax assessor records. It sees great prospects in the deal in terms of long term and short term benefits.
Located across the street on King Street, the property offers massive opportunities to the school as it plans to develop the property for a variety of purposes and add more value to the property. The developments will include a number of developments which includes four new playing fields, a new track for athletics, build a performing arts center and a STEM center and several units of faculty housing. In a letter to parents and alumni, Tom Philip said that he was grateful that the Tudor partners considered the meaningful value of the property over and above that amount to be a gift to the School. He thanked all those involved in the deal because of their great efforts over the past five months. He said that Brunswick has obtained financing to underwrite the cost and will work to raise funds, entirely independent of tuition, to cover the expense.
Tudor’s spokesman, Patrick Clifford, did not comment beyond Brunswick’s statement. Meanwhile, Tudor Investment Corporation will stay at the address for some time now and pay monthly rents to Brunswick as it waits to shift to a new location. The hedge fund giant plans to move out of the place in spring 2018. Clifford said that the company will likely relocate at a location on the Greenwich-Stamford corridor in the near future. The hedge fund company is confident that the change in location will continue to support its business objectives.
At present, Brunswick has its lower and middle school properties on King Street. With the new premises it has bought, the school now plans to double its classroom space. Tom said that the school would maintain its current student enrolment of 980 at its King Street and Maher Avenue campuses.