Westlake Centrium, an office property in the heart of Westlake Village, has sold for $7.69 million, according to sources at brokerage Marcus & Millichap in Calabasas. Marcus & Millichap Senior Managing Director of Investments Brandon Michaels and Senior Vice President of Investments Janette Monfared brokered the Conejo Valley deal on behalf of the seller. Located at 31225 La Baya Drive, the two-story, 46,724 square-foot structure, which sits on a 70,131 square-foot lot, has been home base for the offices of the Yarrow Family YMCA, a branch of the YMCA of Southeast Ventura County. The site also has 111 parking spaces. Michaels and Monfared closed the deal on Oct. 31. Many (More) Mansions Thousand Oaks City Council approved the latest development by local nonprofit Many Mansions in a 5-0 vote, albeit with several reservations regarding the project’s design. According to local reports, the affordable housing provider, which creates planned communities with programming to assist low-income and veteran tenants, presented its proposed project with City Ventures of Irvine. The venture aims to develop a property, once home to a Pinecrest School at Wilbur and Hodencamp roads, into a development that calls for 130 units of townhomes and an adjacent affordable seniors complex that will add a pair of apartment buildings, each offering 40 units, for a combined 210 units. The market-rate townhomes will occupy 7.5 acres on the former school campus’ northern section while senior residential will stand on 2 acres along the south side by Wilbur Road. At the September meeting, the Council overall lauded Many Mansions and City Ventures for devising affordable senior housing. However, the development’s design gave officials such as Councilmembers Claudia Bill-de la Peña and Joel Price pause. The meeting wrapped with the Council urging the developers to continue working with city staff to find the right visual tone befitting the neighborhood’s surrounding single-family homes and multifamily complexes. Mayor Andy Fox also suggested including a swimming pool for the senior residents, in addition to ones already proposed for the neighboring townhome complex. Many Mansions President Rick Schroeder led the presentation, the result of a new pre-screening process required of any developer requesting a housing-related zone change, such as the one City Ventures requested from institutional to medium-density residential on the former school site’s upper section, and to high-density residential for the lower part. Meanwhile in Moorpark, Many Mansions, in partnership with public agency Area Housing Authority of Ventura County, is putting the finishing touches on the Walnut Apartments, two buildings of low-income housing totaling 24 units on 1.2 acres. Moorpark’s first affordable housing project — Charles Street Terrace, a 20-apartment multifamily complex — was established in 2011. Rapper’s Real Estate Canadian rap star Drake (born Aubrey Drake Graham) purchased his third Los Angeles-area home, this time a 1957 ranch house in the western San Fernando Valley. Reports have pinned a $2.85 million price tag on the “Hotline Bling” singer’s latest purchase. According to Variety, the Grammy-winning artist had paid $4.5 million for what some call his “YOLO estate” — replete with swimming pool and grotto, mechanical bull and revolving bookshelf master bedroom entryway — in Hidden Hills, an over-the-top residence he purchased in 2012 for $7.7 million. With the addition of this new house on 2 acres, Drake adds 2,450 square feet of ranch home, including three bedrooms, beamed ceilings and barbecue, to his portfolio. Staff Reporter Michael Aushenker can be reached at (818) 316-3123 or [email protected].
