VITAL STATISTICS
MARYMOUNT CALIFORNIA UNIVERSITY
30800 Palos Verdes Dr. E., Rancho Palos Verdes
Square Footage: 35.63 acres
Deal Value: $80M
Cushman & Wakefield announced that it represented UCLA under the advisory of the University of California Board of Regents in acquiring the former Marymount California University campus in Southern California. Overlooking the Pacific Ocean, the coastal property comprises 24.57 acres of developed campus and vacant land in Rancho Palos Verdes plus a neighboring vacant 86-unit student apartment complex situated on 11.06 acres in San Pedro.
The sale officially closed on January 25 for $80 million. A team from Cushman & Wakefield led by Mike Condon Jr. and Kimberly Brown along with McKenna Gaskill, Erica Finck, Jacob Kovner, and Connor Martin represented UCLA. The seller, Marymount California University, was represented by Berkadia. Marymount California University permanently closed operations at the campus in 2022. The campus property is located at 30800 Palos Verdes Dr. E. and consists of 10 existing academic buildings totaling 92,268 of gross building area previously used for classroom, administrative and other campus functions. The sale also includes an 86-unit apartment complex spanning 18 buildings located at 1600 W Palos Verdes Dr. N. Known as The Villas, the apartment complex is covenanted for education use that supplements the campus’ academic use. The property also features a pool, tennis courts, outdoor basketball courts, and several asphalt paved parking lots.
