The Regents of the University of California recently agreed to purchase a 16-property portfolio immediately south of the Ronald Reagan UCLA Medical Center in Westwood Village. The university purchased 2.6 acres of retail, office and open space along Westwood Boulevard, as well as Kinross and Gayley avenues, and Lindbrook Drive.
A report in Commercial Observer from August says the state university system paid $49.8 million for the portfolio, which was sold by real estate firm Anderson Real Estate. The 16 properties include approximately 182,000 square feet of retail, office and open space. The properties in the portfolio include 1000-1010 Westwood Boulevard, which spans 64,491 square feet. The buildings at 10912-10920 Kinross Avenue and 1108-1114 Gayley Avenue — the latter originally known as the Shepard Mitchell Building and erected in 1930 — are also part of the portfolio. However, the regents have not released a full list of all the properties purchased.
A report in Atlas Brief says the transaction was recorded on July 10, 2026; however, records from the Los Angeles County Assessor do not show a change in ownership or a reassessment for the known properties as of August 30.
The report from Commercial Observer says the Anderson family gave more than $140 million to UCLA. The university named its business school after John E. Anderson — The Anderson School of Management — who founded Topa Equities, the holding company for Anderson Real Estate.
A report in the Los Angeles Business Journal says the university renamed its graduate school of management after John Anderson in honor of a $15 million donation he made in 1987. Anderson made another donation to the university in April 2011, shortly before he died at the age of 93.
The report in Atlas Brief says Marion Anderson, John’s wife, gave an additional $100 million to UCLA in 2015 — the largest gift in the history of the business school. UCLA then named Marion Anderson Hall in her honor.
While the acquisition of the 16-property portfolio in Westwood reflects an investment by the regents in the area immediately south of the UCLA Medical Center, the university system has been actively investing in West LA for many years. UCLA purchased the former Westside Pavilion shopping center at 10800 West Pico Boulevard — two miles south of the medical center — in January 2024 for $700 million. That property is slated to become the UCLA Research Park, a scientific and tech innovation hub, according to a January 2024 report in the Los Angeles Times. The former three-story mall will house two biomedical centers focused on immunology and immunotherapy, as well as quantum science and engineering.
Commercial Observer reported in November 2024 that UCLA purchased the 170,000-square-foot office building at 5210 Pacific Concourse, just south of LAX, for $55 million. That property will be redeveloped into the UCLA Health Sports Medicine Institute.
