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UCLA Completes $80M Purchase of MCU Campus
The Regents of University of California (UCLA) has completed the acquisition of the Marymount California University (MCU) campus in Rancho Palos Verdes, CA and The Villas student townhouse complex in San Pedro, CA for $80 million. Berkadia’s Adrienne Barr and Steffan Braunlich represented MCU in the transaction and the firm’s Keith Rosso secured $20 million in bridge financing to facilitate the sale. UCLA was represented by Cushman & Wakefield.
The MCU campus consists of 10 buildings, a chapel and a library on 24 acres with an unobstructed ocean view. The Villas student housing features 86 units on 11-acres, located about six miles away from the campus.
“By selling its campus to UCLA, MCU has enabled UCLA to expand enrollment and meet increasing demand for its academic offerings,” said Barr.
“We are certain UCLA will be an outstanding steward of the campus for the cities of Rancho Palos Verdes and San Pedro in the South Bay of Los Angeles,” added MCU President Brian Marcotte.
- ◦Sale/Acquisition
