Saint Joseph's University closed a deal on Oct. 20 to sell its University City real estate portfolio for $66.5 million to the Belmont Neighborhood Education Alliance, a nonprofit chaired by housing investor Michael Karp, at a steep discount from its book value. The sale includes 10 parcels St. Joe's acquired in its 2022 merger with the University of the Sciences. The properties have a combined assessed value of $101.1 million, according to a deed filed with the City of Philadelphia. Among the prominent USciences buildings included in the sale are the Athletic Recreation Center, Goodman Hall, Wilson Student Center, Joseph W. England Library and Alumni Hall.
Source: Philadelphia Business Journal; 11/20/2025