Laurentian University has sold the historic Bell Mansion to Devla Properties Inc. for $1.25 million.
The university plans to use the proceeds from the sale to support the renewal of its facilities, as stated in a press release:
The proceeds from this sale will be solely used to support the ongoing renewal of Laurentian University’s facilities.
The sale was approved by the university's board in August, and the new owner, Devla Properties Inc., took possession of the property in November. Devla Properties Inc. is a local firm owned and operated by Peter Nault, a well-known developer in the Greater Sudbury community.
Devla Properties Inc. specializes in custom builds and rental units, including those geared towards seniors.
Author's summary: Bell Mansion sold for $1.25M.