Johns Hopkins University has a deal to buy the building that houses the Newseum, at 555 Pennsylvania Ave. NW in Washington, D.C., the university news service reported.

Johns Hopkins plans to turn the well-known building into an interdisciplinary academic facility anchored by JHU's School of Advanced International Studies.

"With the acquisition and renovation of the Newseum, we will have an unparalleled opportunity to bring all of our current D.C.-based Johns Hopkins graduate programs together in a single, landmark, state-of-the-art building," Johns Hopkins University President Ronald J. Daniels wrote in a message to the university community.

The facility will provide more than 400,000 square feet of space.

The property is owned by the Newseum's founder, the Freedom Forum, which put the property for sale in early 2018.

Johns Hopkins will buy the property for $372.5 million. The Newseum is expected to stay at the site through 2019.

The facility will be ready for the university in early 2023, the news service said.

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