[Tulsa, Oklahoma, December 16th, 2022] – Oklahoma-based Community HigherEd, a 501(c)3 nonprofit that operates Community Care College, Clary Sage College, and Oklahoma Technical College closed on the purchase of the 3-campus real estate portfolio that they have been occupying since 2004. Stride Bank, First National Bank Broken Arrow (FNBBA), Vast Bank and Regent Bank provided financing with their strong syndication capability. Each building is located on south Sheridan Road. The acquisition is part of the college’s strategic plan of securing long-term assets to continue offering career-focused education in high-demand career fields while identifying future programming and educational opportunities.
“As Chairman of the Board, I am looking forward to the many opportunities that lie ahead with this transition. Community HigherEd has a bright future as we continue our legacy of providing well educated graduates to the workforce.” says Rebecca Banuelos, chair of the board.
“This is truly an extraordinary moment in the history of Community Care College, Clary Sage College and Oklahoma Technical College, says CFO Polly Agarwal. The acquisition supercharges the institution’s financial position so that we can look ahead with confidence.”
The seller, Hickory House Properties, is managed by the founder of the institution who left the institution as CEO 6 years ago when it obtained nonprofit status. “The colleges have a long history of providing exceptional vocational education in innovative ways while satisfying workforce development needs,” said Teresa Knox, college founder and President of Hickory House Properties. Owning these beautiful and functional buildings is an exciting new season for Community HigherEd.”
Community HigherEd is a licensed and accredited vocational school licensed by OBPVS and accredited by ACCSC. The 3-campus college system—Community Care College, Clary Sage College, and Oklahoma Technical College was founded by Teresa Knox in 1995; originally as a Dental Assistant School. It has grown over the past 27 years to be one of the largest private vocational schools in the region while boasting one of the lowest default rates in the country. High student graduate and job placement outcomes make it one of the most coveted choices for post-secondary career education.
The institution became a non-profit entity in 2015. The college maintains affordable tuition while extending millions of dollars in scholarship funds to those Oklahomans that need it the most.
History of Buildings
Community Care College 4242 South Sheridan: Purchased from the QuikTrip Corp in 2004. It was built in 1984 by the Telex Corporation. Various diploma and associate degree program offerings include Dental Assisting, Medical Assisting, Paralegal, Business Administration, Medical Billing, Veterinary Assisting, and Early Childhood Education to name a few.
Clary Sage College 3131 South Sheridan: Was built in 2007 and offers academic programs in Cosmetology, Esthetics, Massage Therapy, Fashion Design, Interior Design, and Master Educator.
Oklahoma Technical College (OTC) 4444 South Sheridan was acquired in 2010. The building’s well-known address was home to Henry Primeaux’s Crown BMW with “Sam’s is still next door” tag line. Programs at OTC include Welding, Heat and Air, Automotive, Diesel, Electrical, and others.
About Community HigherEd
CommunityHigherEd, is a 501(c)(3) non-profit corporation with the mission to advance the purpose of Community Care College, Clary Sage College, and Oklahoma Technical College through active engagement, advocacy, fundraising, and stewardship.
CONTACT: Pallavi Agarwal, CFO PHONE: 918.610.0027
EMAIL: pagarwal@communitycarecollege.com