The University of California Los Angeles has officially acquired the 24.5-acre campus for the now-defunct Marymount California University in Rancho Palos Verdes.
The Long Beach Press-Telegram reports that escrow on the $80 million sale has closed, giving UCLA ownership of the former campus as well as an 11-acre student town-house complex in San Pedro known as the Villas.
The 35.5-acre land acquisition will enable UCLA to expand enrollment and address student crowding.
Marymount, a private Catholic university, shut down in August after five decades. Administrators cited rising costs and declining enrollment as reasons for the closure.
Marymount initially sought a merger with St. Leo University, a Catholic campus in Florida. But when regulatory hurdles extended the timeframe on the merger, the two universities parted ways, and Marymount had no choice but to close, officials said. The last day for 500 students and 140 employees was Aug. 31.
The newly acquired property will be UCLA’s third academic campus outside the main Westwood campus, joining ones in downtown Los Angeles and Culver City.
