Averett University sold its North Campus athletic facilities in an $18 million sale‑and‑leaseback to local entities to shore up cash after the discovery of a multi‑million dollar endowment shortfall and subsequent budget adjustments. The university will lease back the 70‑acre site and retains the option to repurchase at the original price. University leaders said the transaction preserves operations and stabilizes finances after earlier pay cuts, program cuts and legal actions tied to alleged mismanagement. The deal underscores how smaller private institutions are using real‑estate transactions and asset monetization to address liquidity crises and sustain core academic missions.