Raintree Partners trades student housing near UCLA for $63M

Raintree Partners has sold a portfolio of Westwood apartments catering to student tenants for $62.6 million. The portfolio, called Axiom Westwood, has four buildings and 153 units near the UCLA campus, Multi-Housing News reported. Institutional Property Advisors, a unit of Marcus & Millichap in Calabasas, brokered the deal and secured a private investor as the buyer.  The transaction marks Westwood’s largest sale by unit count since 2020, underscoring renewed investor interest in student housing near major universities. The assets last traded for $54.6 million in 2014, reflecting appreciation over the past decade. Located at 415 Gayley Avenue, 411 Kelton Avenue, […]This article originally appeared on The Real Deal. Click here to read the full story.