- Associated Press - Thursday, July 17, 2014

RUSSELLVILLE, Ark. (AP) - The Arkansas Tech University board of trustees has agreed to sell a parcel of land near Interstate 40 in Russellville to Narayan Hotels LLC for $1.15 million.

The board agreed to the sale Thursday.

ATU purchased the property in 2006 for $1.5 million and operated a student housing facility that the university says returned an operating profit of nearly $879,000.

The housing facility was closed in 2011 and later demolished.

The sale is expected to close Dec. 1.

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