UCLA Acquiring Former Marymount Campus for $80M

Real estate firm Cushman & Wakefield is representing UCLA under the advisory of the UC Board of Regents in acquiring the former Marymount California University (MCU) Campus in Rancho Palos Verdes, CA. The property, overlooking the Pacific Ocean, comprises 25 acres of developed campus, vacant land and a neighboring 86-unit student apartment complex. The $80 million acquisition is expected to close in October.

“As demand for our academic offerings continues to grow, this acquisition will allow us to expand student access, strengthen our connections to the greater LA region and deepen our institution’s research and public service impact,” said Chancellor Gene Block in a message to the UCLA community.

MCU permanently closed operations earlier this year. The campus consists of 10 academic buildings, totaling 92,000 square feet. Cushman & Wakefield’s Mike Condon Jr., Kimberly Brown, McKenna Gaskill, Erica Finck, Jacob Kovner and Connor Martin represented UCLA in the deal, while MCU was represented by Adrienne Barr and Steffan Braunlich of Berkadia.