Greenbridge Opens Los Angeles-Area MOB

Oasis Healthcare Center. Image courtesy of Greenbridge Investment Partners

After a three-year redevelopment process, Greenbridge Investment Partners has opened Oasis Healthcare Center, a 45,000-square-foot, Class A medical office building in Tarzana, Calif. The company acquired the asset in 2014 for $5.6 million from Lazar-Ducot Associates, CommercialEdge data shows.

The property became subject to a bridge loan of $13.5 million back in 2019, with a maturity date set for 2029, provided by M360 Advisors, according to the same data provider.

Greenbridge started the property’s ground-up renovation in 2020, which reportedly cost $4.5 million. Architectural firm HED redesigned the medical facility into an open-air complex.

The two-story building, originally completed in 1982, currently features an open-air lobby atrium, outdoor seating, open-air walkways and hallways, filtration systems and updated amenities, as stated in prepared remarks by Sean Hashem, principal with Greenbridge. The facility also offers valet parking and 4,000 square feet of ground-floor space for restaurant use. Lee & Associates Managing Director Scott Romick, alongside Associate Eugene Kim, are handling leasing at the property.

Oasis Healthcare Center is located at 19500 Ventura Blvd., 22.4 miles from downtown Los Angeles, at the corner of Shirley Avenue and Ventura Boulevard. Other medical facilities in the surrounding area include Kaiser Permanente Woodland Hills Medical Center and Dignity Health-Northridge Hospital Medical Center. The Providence St. Joseph and Cedar-Sinai redevelopment project, slated for completion this year, is 1.8 miles away.

In late 2022, a Beverly Hills medical office building, originally completed in 1991, landed $20 million in refinancing. The property is 11 miles from downtown Los Angeles.