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November 17, 2019
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SOUTHERN CALIFORNIA NEWS
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Sinanian Development Buys Dev Site in Tarzana

10/03/19

Sinanian Development paid $4.44 mil in an off-market sale for a 1.29-acre parcel of land in Tarzana. The site, located at 18600 Oxnard St, was sold by Columbia College Hollywood.

The property was sold in a sale-leaseback of the land for five to 10 years by Columbia, who will continue to use the lot for parking. The buyer plans on building a multifamily or student housing property on the site after the lease term expires.

Jeff Abraham, John DeGrinis and Patrick DuRoss with Newmark Knight Frank represented the buyer and the seller in the transaction.

“Columbia College specializes in training the next generation of the entertainment industry, in particular filmmakers,” noted Abraham. “With growing enrollment, the proceeds from the sale will be instrumental in funding for new equipment, classrooms and other needs.”





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