Business Wire·Apr 15, 2026, 2:21 PM ET

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

Institutional Property Advisors (IPA), a division of Marcus & Millichap, sold the Axiom Westwood student housing portfolio for $62.6 million.
The four-building, 153-unit asset is adjacent to UCLA in Westwood & represents the largest property sale by unit count in the area since 2020.
Raintree Partners was the seller, represented by IPA executives Kevin Green, Joseph Grabiec, & Gregory Harris, who secured a private multifamily investor as the buyer.
The portfolio consists of buildings at 415 Gayley Ave., 411 Kelton Ave., 555 Kelton Ave., & 555 Levering Ave., with some structures adjacent to the UCLA campus.
Market analysis highlights Westwood as supply-constrained, with only 545 new beds scheduled for delivery in the next three years despite projected 6% enrollment growth at UCLA by 2030.
Property amenities include controlled access, two swimming pools, laundry facilities, elevators, gated covered parking, dual-pane windows, & full-size kitchens.
The location offers proximity to Westwood Village destinations, 20,000 jobs within a one-mile radius, & access to major highways serving 3.4 million jobs within a 30-minute drive.
Marcus & Millichap reported closing 8,818 transactions totaling $50.8 billion in sales volume during 2025.