Safai, who marketed the former hospital site on behalf of David K. Gottlieb, the Chapter 7 Bankruptcy trustee for the property, tells GlobeSt.com that bidding continued for eight hours as the 14 interested parties kept upping the ante. Several of the prospective buyers wanted the site for a mixed-use project, he says, while others wanted it to operate a hospital or for other uses. The 11-acre parcel is at 10445 Balboa Blvd. and includes a 277,000-sf hospital as well as a four-level parking structure. It has been closed since the hospital's bankruptcy last year.
Gottlieb has previously entered into an agreement to sell the asset to Brentwood-based Namco Financial Inc. for $19 million, but that agreement was subject to higher bids and bankruptcy court approval. Safai says city officials in Granada Hills had hoped the site would remain a hospital, but officials were also agreeable to a school site in preference to some other types of development, especially multifamily. He notes that the property makes a good site for a school because the property "is completely clean and has no environmental issues."
The bankruptcy court supervised the eight hours of bidding in which the LAUSD submitted its winning bid. Bankruptcy trustee Gottlieb was assisted by Howard Weg and David Shemano of the law firm of Peitzman, Weg and Kempinsky, LLP.
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