Open report — full analysis, no account required.
Sign up to generate reports and read filings that aren't on the open list.
Get notified when LINC files again. Create a free account and we'll email you the moment its next filing is analyzed.
Get filing alertsLincoln Educational acquires Melrose Park campus for $18.8M, finances 80% with 10-year mortgage
Filed July 10, 2026 · Period ending July 7, 2026 · ~1 min read
Key Changes
-
high
Completed purchase of Melrose Park, IL campus property for $18.8M, converting a leased facility into a company-owned asset.
Item 2.01 verify on EDGAR → -
high
Financed $15M (80% of purchase price) with a 10-year mortgage from Provident Bank at 5.99% fixed for five years, then Treasury+1.75% with 5% floor; monthly payments ~$97,628 starting August 2026.
Item 2.01 verify on EDGAR → -
medium
Loan secured by the property and guaranteed by parent company and subsidiaries, creating recourse beyond the asset itself.
Item 2.01 verify on EDGAR → -
medium
Paid remaining $3.76M from cash on hand, preserving some liquidity while using leverage for the acquisition.
Item 2.01 verify on EDGAR → -
low
Filing reports creation of a direct financial obligation under Item 2.03 (cross-references Item 1.01 terms).
Item 2.03 verify on EDGAR →
Summary
Lincoln Educational Services completed the acquisition of its Melrose Park, Illinois campus property for $18.8 million on July 7, 2026. The company had previously operated this location under a lease and now owns the facility outright, converting an operating lease into a balance-sheet asset.
Lincoln financed approximately 80% of the purchase price ($15.04 million) through a 10-year mortgage from Provident Bank, with the remainder paid from existing cash. The mortgage carries a 5.99% fixed interest rate for the first five years, then converts to a floating rate of 5-year Treasury plus 1.75% with a 5% floor. Monthly payments of approximately $97,628 begin in August 2026, and the loan matures in July 2036.
The loan is secured by the property and guaranteed by the parent company and its subsidiaries, meaning the lender has recourse across the corporate structure if Lincoln defaults. The transaction adds $15 million in long-term debt while eliminating lease obligations for a core operating facility.
Section-by-Section Diff
Event · Item 2.03 — Creation of a Direct Financial Obligation
Item 2.03 — Creation of a Direct Financial Obligation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Item 2.03 hereof is hereby incorporated by reference into this Item 1.01 as if expressly set forth herein.
The 8-K includes a labeled Item 2.03 section. Its body incorporates the primary Item (typically 1.01) by reference rather than restating terms — do not treat that thinness as 'Item 2.03 absent.' The company is signaling creation of a direct financial obligation alongside the agreement disclosure; keep Item 2.03 visible in the report.
Event · Item 2.01 — Completion of Acquisition or Disposition of Assets
Lincoln acquired its Melrose Park campus property for $18.8M, financing $15M with a 10-year mortgage at 5.99% initial rate.
Added in current filing · verify on EDGAR →
On July 7, 2026, Lincoln Technical Institute, Inc. (“Lincoln Technical Institute”), a wholly-owned subsidiary of Lincoln Educational Services Corporation (the “Company”), completed the previously reported proposed acquisition of the facility and real property located at 8315-8317 W. North Avenue, Melrose Park, IL 60160 (including the building and improvements and other personal property located thereon) (the “Property”) from which the Company has previously operated its Melrose Park campus under lease from the seller, Melrose Omni, LLC. The purchase price for the Property was $18,800,000.00 as adjusted
Lincoln completed the purchase of its Melrose Park campus property for $18.8 million. The company had previously operated this campus under a lease arrangement and has now acquired ownership of the facility and land. This converts a leased operating location into a company-owned asset.
Added in current filing · verify on EDGAR →
In connection with the acquisition, the Company obtained mortgage financing from Provident Bank in the amount of $15,040,000.00 to fund a portion of the purchase price with the remainder of the purchase price being funded by cash on hand.
Lincoln financed approximately 80% of the purchase price ($15.04 million of $18.8 million) through a mortgage from Provident Bank, with the remaining $3.76 million paid from cash on hand. This indicates the company used leverage to complete the acquisition while preserving some cash.
Added in current filing · verify on EDGAR →
The payment and performance of the Loan is secured by a security interest in the Property acquired pursuant to the Mortgage, Assignment of Rents and Leases, Security Agreement and Fixture Filing as well as the Continuing Agreement of Guaranty and Suretyship executed by the Company and its subsidiaries in favor of Provident Bank.
The loan is secured by the acquired property itself and is also guaranteed by the parent company and its subsidiaries. This means the lender has recourse beyond just the property if Lincoln defaults, creating a broader obligation across the corporate structure.
Event · Item 1.01 — Entry into a Material Definitive Agreement
Lincoln Educational Services entered into a material definitive agreement on July 7, 2026.
Added in current filing · verify on EDGAR →
Item 1.01. Entry into a Material Definitive Agreement. The information set forth in
The filing discloses entry into a material definitive agreement under Item 1.01, but the text is truncated and does not provide details about the nature, parties, or terms of the agreement. The filing appears incomplete as submitted.
Thanks — your feedback helps us improve report quality.
Figures/quotes linked to EDGAR · Narrative written by AI · Jul 13, 2026 · How we verify