WESTWOOD—On August 3, news began circulating of the July 10 purchase of 16 properties in Westwood Village. Regents of UCLA have purchased the 181,855 square foot retail property for $49.5 million from Anderson Real Estate. This is 2.6 acres south of UCLA, adjacent to UCLA’s Westwood campus, situated along Westwood Boulevard, Kinross Avenue, Gayley Avenue, and Lindbrook Drive.
The newly purchased properties include a 64,491 square foot building located 1000-1010 Westwood Boulevard for $5.8 million ($89 per square foot) and the renovated Kinross Cornerstone located at 10910 Kinross Avenue. This historic building dates-back to the 1930s. It was then, the shopping and dining destination in the area.
The seller was none other than Anderson Real Estate, the family-owned corporation with deep family ties to UCLA. It was the Anderson family who donated the funds, founded the investment platform that became Topa Equities, and co-founded UCLA’s Kayne Anderson Business school, that is his namesake today.
Regents UCLA have not announced specific plans for the newly acquired property.
In addition, on August 4, Colliers announced the purchase of $8500,000 multi-family complex located at 1775 Beloit Avenue in West Los Angeles by UCLA Housing Group.
The property was purchased from Enterprise Bank and completed through a court appointed receivership process.
The seven-story, Type II co living, 18,000 square-foot property that includes 16 residential units, was constructed in 2023.
