X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES, CA-SCI Investments Inc. of West Los Angeles bought a 61,920-sf medical office complex in Santa Monica for $21 million and the 70,468-sf Woodland Hills Village shopping center in the San Fernando Valley community of Woodland Hills, Calif. for $8.795 million.

The medical office complex is at the corner of 23rd Street and Santa Monica Boulevard in Santa Monica, SCI spokesman Randy Foster tells GlobeSt.com, while the Woodland Hills shopping center is at 20929 Ventura Blvd.

SCI bought the medical office center from Kennedy Wilson of Beverly Hills and the shopping center from locally based NS Properties II LLC.

The medical office complex is called Parkside Medical Center and is near the St. John’s Health Center. The complex is 100% occupied, Foster tells GlobeSt.com, with about 30% of the space occupied by medical offices of nearby UCLA. The Woodland Hills Village shopping center was 95% occupied at the time of the sale.

Foster tells GlobeSt.com that the transactions are the latest in a series of acquisitions for SCI, which buys properties both for itself and on behalf of its investors. The company’s $133 million portfolio consists about 85% of office, medical office, industrial and retail properties, and about 15% in multifamily holdings in California and Nevada. Founded in 1994, the company has offices in West Los Angeles and Las Vegas. It has acquired over 100 properties since 1994.

The principals of SCI are Marc Paul and Robert Robotti, who also co-founded and operate RE/MAX Commercial Brokerage. Paul and Robotti represented themselves in both of the two recent SCI transactions.In the sale of the medical office complex, Mary Ricks and Clifford Smith of Kennedy Wilson represented the seller.

In the shopping center transaction, Jim Wellbaum and Matt Crawford of Triwell Properties represented the seller.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.