South University is very well run and is a high quality institution as is Argosy and the law school," said Randall Barton, managing director of Dream Center Foundation. "The Art Institutes will probably involve the most change."
Those changes include hiring a new Art Institutes provost as well as program changes to respond to a recent federal warning.
"Although nonprofits are not subject to gainful employment," Barton said, "we want every degree to lead to a good job."
The Dream Center anticipates that the school properties being acquired will become tax-exempt.
University operations will be managed through Dream Center Education Holdings LLC, led by newly named CEO and co-chairman Brent Richardson. Richardson is a longtime higher education administrator who most recently worked on overhauling and growing programs at Grand Canyon University in Phoenix