William Peace Confirms Sale of Seaboard Station
Dr. Brian C. Ralph, President of William Peace University issued the following statement regarding the University’s sale of Seaboard Station to developer PN Hoffman:
“Great things are happening here at William Peace University. We are proud to confirm the sale of Seaboard Station, which we invested in five years ago for the University, to PN Hoffman. PN Hoffman is a premier real estate developer that has led the development of several well-known projects in the Washington, D.C. area. The buyer’s vision for the future of this will help enhance the student experience at William Peace University.
We treasure our 161-year history as part of the community and remain committed to our neighbors, students, faculty, staff, alumni and donors. Together with TradeMark Properties, we have taken great care to ensure that the property, its tenants and the neighborhood remain in great hands.
Seaboard Station is a part of the University’s rich history, and this transaction supports its bright future. As good stewards of the endowment, we made a bold real estate investment with the intention of increasing funds to fuel the mission of William Peace University. Selling in this current market has yielded a tremendous return on our investment, creating additional resources designed to fuel our institution’s strategic plan and growth, and deepen our impact moving forward.
This is a time of positive change, growth and opportunity for us all, and we are excited about what the future holds for Seaboard Station and William Peace University.”
For more information, see the news release below, which was distributed by PN Hoffman today.