University Gateway to be Marketed by HFF

Student housing and retail property near USC is on the market.

Los Angeles — University Gateway, a 1,656-bed student housing community with ground floor retail space adjacent to the University of Southern California (USC) in Los Angeles at 3335 S. Figueroa St., will be marketed by HFF. The student housing property is owned by University Gateway Owner, LLC, which is a partnership between Urban Partners LLC, Real Estate Capital Partners, Blackstone Real Estate Advisors and RCG Longview Equity Fund, L.P. Completed in 2010, the eight-story property consists of 421 units that are 82 percent pre-leased for the upcoming 2011-2012 academic year. CVS/pharmacy, Chase Bank and a national grocer are among the retail tenants signed for the 79,209 square feet of retail space, which is 98 percent leased. Sean Deasy, Mark Petersen and Brian Kelly of HFF will represent University Gateway Owner in its efforts to sell the mixed-use student housing property.

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