Alva Review-Courier -

$8 million sale of St. Gregory's to Hobby Lobby finalized


December 6, 2018

OKLAHOMA CITY (AP) — Arts and crafts chain Hobby Lobby has completed its $8 million purchase of a bankrupt Catholic university's campus near Oklahoma City, which it has agreed to lease out to another Christian college.

Documents filed in federal bankruptcy court Tuesday in Oklahoma City finalized the sale of the more than 70-acre St. Gregory's University campus, buildings and other property in Shawnee to Hobby Lobby Stores Inc., which made the offer in September.

Nearly $4.8 million will be paid to Catholic Order of Foresters, an insurance company, the Citizens Potawatomie Community Devel...

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