$62 Million Student Housing Portfolio Sale in Los Angeles Brokered by Institutional Property Advisors

LOS ANGELES--(BUSINESS WIRE)--Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI) dedicated to serving the company’s institutional clients, announced today the sale of Axiom Westwood, a four-building, 153-unit student housing portfolio adjacent to the University of California, Los Angeles (UCLA) in the city’s Westwood neighborhood. The transaction is the largest property by unit count to sell in Westwood since 2020. The portfolio sold for $62.6 million.

“Built between 1962 and 1967, the previous ownership invested significant capital from 2015 onward to transform Axiom Westwood into a turnkey asset,” said Kevin Green, IPA executive managing director investments. “The buyer has the opportunity to focus on high return-on-investment strategic enhancements and operational improvements that can capture unrealized income.”

Green, Joseph Grabiec, and Gregory Harris of IPA represented the seller, Raintree Partners, and procured the buyer, a private multifamily investor. “Westwood continues to be one of the most supply-constrained markets in Los Angeles,” said Grabiec. “Despite UCLA’s plans to increase overall enrollment over 6% by 2030, there are only 545 new beds scheduled to be delivered in the next three years.”

Located at 415 Gayley Ave., 411 Kelton Ave., 555 Kelton Ave., and 555 Levering Ave., the buildings are within walking distance of popular Westwood Village destinations such as Target, Whole Foods, and In-N-Out. The 415 Gayley and 411 Kelton buildings are adjacent to the UCLA campus, and 555 Levering, and 555 Kelton are two blocks away. The Southern Regional Library, Pauley Pavilion, and Marshall Field are within a short walk. There are 20,000 jobs within a one-mile radius and access to Interstate 405, Interstate 10, and U.S. Highway 101 puts 3.4 million jobs within a 30-minute drive.

Axiom Westwood has controlled access, laundry facilities, and elevators. There are two swimming pools, three gas barbecue grills, and gated and covered parking. Interiors have dual-pane windows, full-size kitchens, and air conditioning. Select units have vaulted ceilings, fireplaces, and patios or balconies.

About Institutional Property Advisors (IPA)

Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offers customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com

About Marcus & Millichap, Inc. (NYSE: MMI)

Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. Marcus & Millichap closed 8,818 transactions with a sales volume of $50.8 billion in 2025. The company had 1,808 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate at year end. For additional information, please visit www.MarcusMillichap.com.