Another UArts building has drawn a bid
It is the fourth of nine buildings to have bids recorded on the public docket
![A view of Spruce Hall, one of the properties being sold in the University of the Arts' bankruptcy case.](https://www.inquirer.com/resizer/v2/L6KY7ILVYNA75CP65WALDNJBFE.jpg?auth=94aab03b8184dc6413a66234539c02e0b60a96d25d3bd875971cb86157d6a456&width=760&height=507&smart=true)
A building formerly used as a student residence hall has become the fourth University of the Arts structure to draw a bid.
A company called 1228 Spruce LLC, which was formed less than a week ago and seemingly named for the address of Spruce Hall, which is at 1224-1234 Spruce St., bid $7 million.
Jeffrey C. Hampton, a lawyer for Saul Ewing, who represents the company, declined to comment on questions about 1228 Spruce LLC or its intended use for the building.
The mailing address for the company is on Lansdowne Road in Havertown, a residence, which appears to be owned by Boyden “Erik” Gabell III and Heather Gabell. Neither could be reached for comment. Boyden Gabell is an attorney listed as cofounder of Paradigm Realty Alliance, while Heather Gabell is listed as director for regulatory compliance for Marketsphere Unclaimed Property Specialists.
Other UArts buildings
Nine former UArts buildings are being sold through bankruptcy. Curtis Institute of Music successfully bid $7.6 million for the Art Alliance building earlier this month.
» READ MORE: The sale to Curtis of UArts’ Art Alliance building gets court approval
A leading bid on the Arts Bank building, which was used as a dance and performance hall, is being challenged in U.S. Bankruptcy Court in Wilmington because the bidder, Quadro Bay LLC, intends to use it for residential and commercial purposes. Pennsylvania’s attorney general has argued that it should maintain its charitable education and artistic purposes and that Lantern Theater Company, which bid $2.61 million ― $100,000 less than Quadro Bay ― should get the property. A hearing on that matter is scheduled for next week.
Temple University has bid $18 million on Terra Hall; a hearing on that matter is scheduled for next month.
» READ MORE: Temple has made an $18 million bid on UArts’ largest building, one of nine for sale
No bids have been recorded on the public docket for the other five buildings.
UArts abruptly closed in June, leaving students and staff scrambling. Typically, in bankruptcy liquidation, the top priority is selling assets to get as close as possible to making lenders whole.
Alan Root, the attorney representing the UArts bankruptcy trustee, said in court earlier this month there are secured claims of approximately $67 million.
Staff writer Harold Brubaker contributed to this article.