Suffolk University has closed a sale on the Fenton building today, according to Greg Gatlin, a university spokesman.

The Boston Business Journal has reported the building was purchased for $15 million.

Fenton was put on the market in January with Jones Jang LaSalle. The city assessed it as worth $9 million.

In an email to faculty and employees, university president James McCarthy said Fenton was sold to the Atlas Investment Group, also known as Derne Street Partners, Inc.

“The sale is part of our effort to provide Suffolk students with the best instructional space possible,” McCarthy said in the email, which was obtained by the Journal. “With the 20 Somerset academic building coming to fruition, College of Arts & Sciences and Sawyer Business School classrooms will be concentrated away from the residential area of Beacon Hill, and an exciting new academic cluster will emerge around Somerset Street, Ashburton Place and the corner of Beacon and Tremont Streets.”

The state-of-the-art 20 Somerset building is set to open in fall 2015.  According to the email, the building is halfway through its construction, with concrete currently being poured to construct its fifth floor.

Professors began moving out of the Derne Street building in May, relocating to the 10th floor of the 73 Tremont building.

“Fenton is a kind of charming building in a great location,”  Quentin Miller, chair of the English department, told the Journal at the time of the move.

President McCarthy said in the email that in August those professors would be permanently located on the 8th floor of 73 Tremont.

Fenton is named in honor of alumnus John E. Fenton, who was Suffolk’s fifth president, as well as a board chair and a professor, according to McCarthy.

“The University is exploring new opportunities to honor President Fenton’s contributions in an appropriate way,” he said.