The New England Institute of Technology has bought 150 acres in East Greenwich that includes a nine-hole golf course and most of the Rocky Hill Fairgrounds to build a sprawling new campus, town officials confirmed yesterday.

The Warwick-based technical school also recently reached an agreement to buy an additional 50 acres that was formerly planned as the site of a 400-plus unit housing development, Wellington Woods, said East Greenwich Town Manager William Sequino Jr. The sale of the Wellington Woods property is expected to close later this month, he said.

The combined 200-acres — located southwest of the intersection of Division Road and South County Trail — would allow the college, known as New England Tech, to move from its crowded Warwick buildings to a campus setting that would include dormitories, ball fields and more. The institute’s automotive center, built in 2005 just off Route 95 in Warwick, is expected to remain at its current location, Sequino said.

New England Tech also had been negotiating to buy the former Brooks Drug headquarters, which is located off Division Road and has been vacant since the drugstore chain’s sale last year to Rite Aid Corp. However, the company last year rejected the college’s purchase offer as “too low,” Sequino said, and “the Rite Aid building as of right now is not part of this mix.”

Rite Aid spokeswoman Ashley Flowers said yesterday “We’re going through negotiations with multiple parties.” She declined to elaborate.

Neither Charles K. Rogers, a spokesman for New England Tech, nor the college’s vice president and general counsel, Philip Parsons, returned messages left at their offices yesterday.

A preliminary plan for the new campus in East Greenwich is scheduled to be presented to the town Planning Board meeting at 7 p.m. Feb. 6.

“They’re not looking at doing anything for five to six years or longer,” Sequino said, but they will present a “preliminary plan.”.

Financing still has to be worked out, he said. “I’m not sure they’re going to expend all their endowment to build a brand new campus.”

New England Institute of Technology, like other educational institutions, is exempt from paying property taxes. However, the Town of East Greenwich could be eligible for payments of up to 27 percent of assessed property taxes from the state, Sequino said.

The 150 acres purchased from three separate owners during the last two months has a total assessed value of more than $12 million, according to the East Greenwich Tax Assessor. That includes the nine-hole East Greenwich Golf & Country Club with an assessed valued of $1.89 million. The total price paid for the property was not immediately available.

Real-estate records reported in The Providence Journal, however, show that New England Technical Institute purchased property on Nov. 20 from James and Paula Malm for $15 million. James Malm, a developer, had previously envisioned building condominiums, affordable apartments for the elderly, restaurants, offices and a hotel in five buildings on the fairgrounds property. But the drugstore chain, then known as Brooks-Eckerd, never occupied the building and Malm last summer was poised to sell most of the remaining property to New England Tech.

The school also had expressed interest in purchasing an easement across from the Taylor Point Condominiums, but that purchase has not closed yet, said Sequino. Another 15-acre parcel known as the “Reiger property” is no longer being considered for the campus project, he said.

larditi@projo.com