The Maine Arts Academy purchased a 69,615± SF building from Maine Veteran’s Homes for $3,250,000. The building is situated on 8.9± acres nearby the Capital Area Sports Complex and Viles Arboretum. Maine Veterans’ Homes began marketing the property with The Boulos Company in August 2022. Multiple offers and backup offers were received during this time, with the property going under contract in October 2022. The transaction was financed by Kennebec Savings Bank.

The transaction was arranged on behalf of the seller by Chris Paszyc, CCIM, SIOR of The Boulos Company, and on behalf of the buyer by Ann Castonguay of Sprague & Curtis.