Investment firm Optimus Properties bought a 10-story medical office tower in the San Fernando Valley, scooping up a property next door to a $500 million hospital expansion.
Century City-based Optimus paid $22 million for the 85,000-square-foot property. Called Tarzana Tower, the building is located at 18321 Ventura Boulevard. Janet Neman of Kidder Matthews represented Optimus in the off-market deal. Optimus plans to reposition the property, Neman said.
The seller was entities operated by Shahram Ray Golbari, attorney Michael Vivoli, and Dr. Parham Minoo.
Providence Tarzana Medical Center, which is next door, partnered with Cedars Sinai Medical Center on a $540-million expansion and renovation that is scheduled to be complete by 2022.
Ventura Boulevard is one of the more active corridors in the Valley. Earlier this year, a retail landlord filed plans to convert a corner strip mall into an office complex about two blocks from Tarzana Tower. Next to that, TriStar Realty Group is planning a 97-unit assisted living and health club complex. Also nearby, another developer is planning a 114-unit multifamily project.
Elsewhere in Tarzana, A&M Capital Real Estate is set to redevelop a 4-acre industrial site into an upscale office campus with nearly 100,000 square feet of space.