Marcus & Millichap’s Institutional Property Advisors (IPA) division closed the sale of a four‑building, 153‑unit student‑housing portfolio in Los Angeles’ Westwood neighborhood on April 15, 2026. The portfolio, located adjacent to the University of California, Los Angeles, sold for $62.6 million, making it the largest transaction by unit count in Westwood since 2020.
The deal adds $62.6 million to IPA’s cash flow and underscores robust demand for student housing in a market where supply is tight. Westwood’s proximity to UCLA and the university’s projected enrollment growth of more than 6 % by 2030 create a tailwind for high‑quality student‑housing assets, while only 545 new beds are scheduled for delivery over the next three years.
Marcus & Millichap (MMI) reported Q4 2025 revenue of $244 million and a net income of $13 million, up 55 % year‑over‑year. In Q1 2025, revenue was $145 million with a net loss of $4.4 million. The company’s full‑year 2025 revenue reached $755.2 million, a 8.5 % increase from 2024, and the net loss narrowed to $1.9 million. Adjusted EBITDA for 2025 was $25 million, up from $9 million in 2024. The sale reinforces MMI’s diversified revenue mix, which includes brokerage commissions of $205.3 million and financing fees of $33.2 million in Q4 2025.
Kevin Green, managing director of investments at IPA, noted that the portfolio’s transformation from 1962‑1967 construction to a turnkey asset has positioned it for high returns. Joseph Grabiec highlighted that Westwood remains one of the most supply‑constrained markets in Los Angeles, and that UCLA’s enrollment expansion will continue to drive demand for student housing.
CEO Hessam Nadji expressed optimism for 2026, citing positive market fundamentals and a strategic focus on analytics and AI to support growth. The transaction demonstrates MMI’s ability to execute large institutional deals and strengthens its position in the student‑housing segment.
The portfolio’s appreciation is notable: it sold for $54.6 million in 2014 and now commands $62.6 million, reflecting a significant increase in value over the past decade.
Overall, the sale highlights MMI’s capability to capture value in high‑demand markets, supports its brokerage and financing streams, and positions the company for continued growth in institutional real‑estate transactions.
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