Pepperdine received a gift of 160 acres adjacent to its hillside campus in Malibu. The land was donated by Seniel Ostrow, the president and owner of the Sealy Mattress Company.¹ The Malibu Times described the land as "contiguous acreage" that was "northwest of the present campus."¹ The parcel lies due north of today's Drescher campus and includes the high hill where a white cross can be seen.

There were no definite plans for the land yet, though chancellor Norvel Young mentioned to The Graphic that it might be the location of a future business school. In the meantime, there was hope the land would serve as an extension of Malibu's equestrian program.²

This wasn't the first time Ostrow had donated land, and it wouldn't be the last. He gave 50 acres in 1969, with nine more following in 1981. That same year, president Howard White purchased 187 additional acres to the north and west of the campus, expanding Pepperdine to 819 acres. White came to refer to this last expansion as his Louisiana Purchase. Later donations brought the campus to its present total of 830 acres.³