ORU sells Cityplex Towers

Friday, April 4th 2003, 12:00 am
By: News On 6

Oral Roberts University on Friday announced it is selling the Cityplex Towers.

An investor group, which will be known as Cityplex, LLC, has reached an agreement to buy the towers. ORU isn't releasing details about the buyers; other than they include individuals with extensive experience in commercial office and medical properties.

Richard Roberts, President and CEO of Oral Roberts University, says the deal should close by July 31st, which would enable the school to be debt free. The university isn't releasing the sale price of the towers.

The buildings have a combined total of 2.2-million square feet of space.