Raintree Sells LA Student Portfolio for $63M
The collection previously traded in 2014 for $55 million.
Raintree Partners has sold Axiom Westwood, a four-building, 153-unit student housing portfolio in Los Angeles for $62.6 million. Institutional Property Advisors brokered the deal on behalf of the seller and procured the buyer, a private investor.
This was the largest property by unit count to sell in the Westwood neighborhood since 2020, according to IPA. The assets previously traded for $54.6 million—about $356,535 per unit—in 2014.
Located adjacent to each other at 415 Gayley Ave., 411 Kelton Ave., 555 Kelton Ave. and 555 Levering Ave., the student housing buildings are within walking distance of the UCLA campus and Marshall Field. They are also close to a host of retail destinations, as well as some 16 miles from downtown Los Angeles.
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Completed between 1962 and 1967, the buildings rise three and four stories. The unit mix comprises studio, one- and two-bedroom floorplans ranging between 525 and 1,150 square feet. Select layouts also include private balconies or patios.
Shared amenities consist of multiple laundry facilities, two swimming pools, barbecue grills and covered parking. Raintree implemented several capital improvements at the properties.
IPA Executive Managing Directors Kevin Green, Joseph Grabiec and Gregory Harris brokered the deal.
The University of California at Los Angeles total student enrollment for the fall 2025 academic year clocked in at 46,678, according to Yardi Matrix data. This figure was down 4.1 percent year-over-year.
Student housing investment remains unbalanced
Student housing investment is maintaining momentum, but remains uneven as capital continues to concentrate in markets and assets viewed as better positioned to weather volatility. In line with broader trends in student housing, the recent transaction activity largely centered on properties near top-tier universities with strong operating fundamentals.
In one of the largest deals by bed count so far this year, Core Spaces acquired The Collective at Columbia, a 972-bed student property in Columbia, Mo. The Preiss Co. and a real estate fund advised by Crow Holdings Capital sold the asset.
