OXFORD, Miss. — The University of Mississippi is buying a hospital that will be vacated near its main campus.

The university says in a news release that it will pay $22 million for the 15-acre site and building that currently house Baptist Memorial Hospital-North Mississippi in Oxford.

The hospital has a new building under construction nearby.

The property that is being sold has a 428,000-square-foot building and 995 parking spaces, most of which are in a garage.

Ole Miss Chancellor Jeffrey Vitter says the building will be used for “support units and other functions that serve external constituencies.”

In the news release, officials from the city of Oxford and Lafayette County expressed support for the sale. The state College Board approved the deal Thursday.

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