La Salle Academy purchases its own land for borrowing equity

LA SALLE ACADEMY has purchased the nearly 30 acres that the school sits upon for $6.75 million to increase the organization's assets and equity as a preparation for intended expansion. / COURTESY LA SALLE ACADEMY
LA SALLE ACADEMY has purchased the nearly 30 acres that the school sits upon for $6.75 million to increase the organization's assets and equity as a preparation for intended expansion. / COURTESY LA SALLE ACADEMY
PROVIDENCE – Approximately 29.6 acres that comprise La Salle Academy were sold in October for $6.75 million. The sellers? La Salle Academy. The purchasers? Well, La Salle Academy. School president Brother Thomas Gerrow told PBN Tuesday that La Salle Academy is an independent Catholic School. Gerrow said that school had been renting its land from…

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