Lancaster Charter School Buys Campus for $2.6 Million

Life Source International Charter School in Lancaster has bought the building it has occupied for three years. The nonprofit school paid $2.63 million for the roughly 28,000-square-foot, 10-year-old building on 2.15 acres at 44339 Beech Ave., according to Principal Deberae Culpepper. The seller was SKS Ventures, a venture capital and private equity company in Lakewood, Colo. Nearly seven years old, Life Source educates traditionally underserved kindergarten through eighth grade students. To help pay for the property, the school secured city approval for a tax-exempt bond of up to $5 million issued by the California Municipal Finance Authority. The bond helped make the mortgage payment less costly than the prior lease payments, Culpepper said. Culpepper added that the school is considering upgrades to the property.