Labouré College on Tuesday finalized a deal to purchase the former Aquinas College property in Milton.

Sources confirmed to the Reporter on Monday that officials from the private Catholic college, which is adjacent to Carney Hospital on Dorchester Ave., were in negotiations with the Sisters of Saint Joseph, who control the old Aquinas College campus, located next to Fontbonne Academy.

According to Labouré College, renovations to the 303 Adams St. property will occur this summer, with the move slated for spring of 2013. A press release from Labouré, issued Tuesday morning, did not detail the terms of the sale.

The college's current Dorchester Ave. campus will also be renovated, and used as clinical space "affiliated with Carney Hospital," according to the release.

“The college community is excited about the move to 303 Adams Street,” Maureen Smith, president of Labouré College, said in a statement. “We are blessed to have found a location that will provide us the room we need grow while remaining part of the Lower Mills community. We look forward to working with our new neighbors at Fontbonne Academy and the Sisters of St. Joseph.”

The Adams St. property purchased by Labouré spans five acres. Aquinas College was open between 1956 and 2000 as a secretarial school.

Sister Rosemary Brennan, head of the Sisters of St. Joseph, said in her own statement that her group was pleased to have found "a new owner who will use this parcel of property to continue the mission of Catholic education in the Archdiocese of Boston."

Commonwealth magazine reported in July that Merrimack College expressed interest in taking over Carney Hospital, as well as Labouré College, but a deal never came to fruition.

Labouré College started in 1892 as the Carney Hospital Training School for Nurses and merged with two other schools in 1951 to become the "first independent, regional, diploma program for nurses in New England," according to the college's website. The college, which has 74 faculty members, moved to its present location in Dorchester in 1954.

"As we enter 2012, Labouré continues to look for new and innovative ways to educate our students as we work to improve our technology and facilities," states the history portion of the college's website. "History shows that as health care grows and changes, we will change with it to educate the next generation of health care workers in Boston and beyond."

Developing...

UPDATE: This story was updated on Tuesday, Aug. 7 at 11 a.m.