EXCLUSIVE: Brown, Under Financial Pressure, Looks to Market 21 Properties Worth Tens of Millions

EXCLUSIVE: Brown, Under Financial Pressure, Looks to Market 21 Properties Worth Tens of Millions

GoLocal has received a copy of an offering document by a commercial real estate firm - representing Brown University - that shows 21 properties being placed on the market for development or sale.

According to Providence tax assessor documents, the properties have a combined value of upwards of $30 million.

On most of the properties being marketed, Brown pays no taxes.

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It is an unprecedented move by the Ivy League school.

 

Latest Move for Providence Ivy

Brown, who has come under fire for buying up tens of millions of dollars in properties, is now the seller, not the buyer.

GoLocal exposed how in one 18-month period, the University purchased approximately $100 million of real estate in a series of deals.

The shift in strategy comes following the recent financial downturn for Brown, caused in part by depleted gifts from major donors over allegations of antisemitism, as well as tremendous pressure being put on Brown and other “elite” schools for what the Trump administration has claimed are violations of students' civil rights.

Presently, Brown is facing the loss of more than $500 million in federal funds and recently it was uncovered that the school was forced to borrow $300 million.

Columbia University has agreed to pay the federal government $221 million in a settlement.

The New York Times reported, “Under the deal announced Wednesday night, Columbia will pay $221 million and stand by an array of previous pledges, like limits on protests and greater internal oversight of certain academic programs. But it secured a provision saying that no part of the agreement ‘shall be construed as giving the United States authority to dictate faculty hiring, university hiring, admissions decisions, or the content of academic speech.’”

Brown and other schools are under the same pressure and are likely to negotiate similar massive settlements. 

According to the marketing materials, Brown is looking to sell or has a “strong preference to developments that do not require Brown to master lease space or make capital commitments.”

 

Properties — East Side Mansions, Offices, Apartments, and Parking Lots

The portfolio includes an East Side mansion on Cushing Street assessed at nearly $2 million, a major commercial retail space on Thayer Street valued by the city at more than $5.2 million, and commercial space in the Jewelry District.

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This story was first published 7/24/25 7:03 PM