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UC Regents buys 16 Westwood Village properties for $49.8M
The 16-property portfolio totals about 181,855 square feet across retail, office and open space on roughly 2.6 acres near UCLA.
The University of California Regents has acquired a 16-property commercial real estate portfolio in Westwood Village, Los Angeles, according to Commercial Observer. The purchase price was $49.8 million for properties positioned immediately south of UCLA.
The portfolio comprises about 181,855 square feet of retail, office and open space on roughly 2.6 acres, with holdings mostly along Westwood Boulevard, plus addresses on Kinross Avenue, Gayley Avenue and Lindbrook Drive.
Commercial Observer reports that one property, 1000-1010 Westwood Boulevard, covers 64,491 square feet and traded for about $5.75 million, or $89 per square foot. Another asset, the historic Kinross Cornerstone, was built in 1930 and has been renovated.
The outlet said no specific plan for the properties has been publicly announced. Commercial Observer also noted the Anderson Real Estate family company, tied to late John E. Anderson, sold the portfolio, and that UCLA has recently made other major acquisitions, including a $700 million research park purchase near Westside Pavilion and a $55 million purchase in November 2024 for a redevelopment into the UCLA Health Sports Medicine Institute.