---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-029516"
form_type: "8-K"
ticker: "LINC"
cik: "0001286613"
company_name: "LINCOLN EDUCATIONAL SERVICES CORP"
filed_at: "2023-06-13T23:59:59+00:00"
generated_at: "2026-06-14T01:52:14.995961+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Lincoln Educational closes Nashville campus sale for $33.8M, net gain ~$28.7M, plans new campus

## Summary
- Sold 16-acre Nashville campus to SLC Development affiliate for $33.8M; net proceeds ~$33.2M.
- Property carrying value $4.5M; gain on sale ~$28.7M.
- Leaseback allows rent-free occupation for 15 months; three extensions at $150k per 30-day term.
- Will invest $15-$20M to build new Nashville campus; first year expected EBITDA neutral.

## SEC filing metadata
- accession: 0001140361-23-029516
- form_type: 8-K
- ticker: LINC
- cik: 0001286613
- company_name: LINCOLN EDUCATIONAL SERVICES CORP
- filed_at: 2023-06-13T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1286613/000114036123029516/0001140361-23-029516-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1286613/000114036123029516/brhc20054379_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-029516
- JSON: https://secwatch.observer/filing/0001140361-23-029516.json
- Plain text: https://secwatch.observer/filing/0001140361-23-029516.txt

## Key facts
- M&A Transactions
  LINCOLN EDUCATIONAL SERVICES CORP completed a disposition involving East Nashville Owner, LLC, an affiliate of SLC Development, LLC for $33.8 million (closed 2023-06-08).
  - Action: disposition
  - Counterparty: East Nashville Owner, LLC, an affiliate of SLC Development, LLC
  - Consideration: $33.8 million
  - Closing: 2023-06-08
  source text: On June 8, 2023, Nashville Acquisition, LLC, a subsidiary of Lincoln Educational Services Corporation (the “Company”), consummated the previously reported contemplated sale of approximately 16 acres of property located at 1524 Gallatin Road, Nashville, Tennessee (the “Nashville Sale”), at which the Company operates its Nashville campus, to East Nashville Owner, LLC, an affiliate of SLC Development, LLC, a subsidiary of Southern Land Company (“SLC”), pursuant to the Contract for the Purchase of Real Estate, dated September 21, 2021, as amended (the “Sale Agreement”), for a purchase price of approximately $33.8 million.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1286613/000114036123029516/0001140361-23-029516-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.