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CLA has acquired a nearly completed apartment complex in West Los Angeles for $39 million, with plans to use it as student housing. The five-story Canfield Apartments at 3301 South Canfield Avenue in Cheviot Hills features 62 units, including 50 three-bedroom apartments. Developer Helio Group sold the property to UCLA after initially planning to build accessory dwelling units on the ground floor.

    The purchase price works out to $629,032 per unit, with Helio agreeing to add 12 additional units as part of the deal. The complex is located about five miles southeast of the UCLA campus in Westwood and will provide much-needed housing for students. UCLA has been actively acquiring properties in the area to support its growing student population.

    This acquisition follows a series of high-profile purchases by UCLA, including the former Westside Pavilion, which was purchased for $700 million, and two other properties that will serve as satellites for the landlocked campus in Westwood.