Two new health centers are arriving in the San Fernando Valley this summer: a UCLA Health pediatric clinic just opened in Porter Ranch and a DISC Surgery Center/orthopedic clinic is set to open in Tarzana in the next few weeks.
On June 30, UCLA Health opened a new pediatric clinic at 20179 Rinaldi St. in the Vineyards shopping and dining center. It replaces a pediatric and general clinic a block away at 19950 Rinaldi St.
The new 3,875-square-foot clinic has 11 exam rooms and space to accommodate more pediatricians and pediatric specialists than the old facility, according to the UCLA Health announcement.
General pediatric services offered include routine check-ups, sports physicals, immunizations and care for minor illnesses and injuries, as well as ongoing care for long term illnesses such as asthma, attention deficit hyperactivity disorder and obesity.
Specialty pediatric services offered include in-person and telehealth counseling and mental health services, as well as diagnostics and treatment for metabolic conditions.
The clinic is open during weekday business hours.
Meanwhile in Tarzana, a DISC Surgery Center is set to open in coming weeks at a nearly 20,000-square foot, two-story medical building near the intersection of Ventura Boulevard and Lindley Avenue.
It will be the seventh surgery center in the network built out by Newport Beach-based physician management company TriasMD; other valley-area locations include Thousand Oaks and Valencia.
According to TriasMD, this ambulatory surgery center will feature 11 patient beds spread between five individual pre-operation rooms and six post-operation anesthesia recovery bays. It will also contain three operating suites with microscopes, imaging, navigation and robotic equipment.
These amenities will allow surgical specialists at the center to perform up to 1,300 spine surgeries and 400 robotic total joint replacements annually, in addition to an extensive array of general orthopedics and interventional pain management procedures.
Because this surgery center doesn’t carry the extensive overhead costs of a traditional hospital, TriasMD says that it will allow insurance companies and other payors to save up to $60 million in surgical costs compared to the usual hospital.
“We are excited to bring the pinnacle of musculoskeletal care to the heart of the San Fernando Valley with our newest surgery center and clinic,” James Becker, TriasMD’s chief executive, said in the company’s announcement.
Neither UCLA Health nor TriasMD disclosed the development costs of their respective medical centers.
— Howard Fine
Ascent Hits $1B Originations Benchmark
Ascent Developer Solutions, a strategic lending platform based in Encino, announced in late July it had reached $1 billion in originations since it launched a year ago.
The originations, by which a prospective borrower applies for a loan and a lender processes the application, outpaced the company’s previous outlook for the financial benchmark.
AscentDS was started by longtime real estate financing expert Robert Wasmund. The goal of the company was to take advantage of the growing need for short term secured loans demanded by those buying or renovating single-family homes and multi-housing unit properties.
AscentDS, which works with real estate developers on providing specific financing documentation that allows people to take out a home loan or mortgage, launched in July 2024 with backing from Elliott Investment Management L.P., an investment management firm based in Florida. The company grew to more than 100 employees focused on different growth markets, and expanded its loan origination, legal, construction and valuation teams – allowing the company to get involved in many stages of the home loan process.
“I’m proud to reflect upon a strong year of growth, infrastructure development, and reaching the $1 billion origination milestone within the first year of operations, all of which serve as a testament to the hard work, dedication, and talent of our exceptional team,” said Wasmund, who is also the chief executive of AscentDS. “Each milestone that we achieve as a lending platform ultimately creates even greater value for our clients and partners.”
— Keerthi Vedantam
Office Sale in Burbank
Creative Arsenal LLC sold a 20,347-square-foot office property in Burbank last month for $5.8 million.
CBRE facilitated the sale of the space at 400 S. Victory Blvd. which came out to be $285 per square foot. At three stories, the property features office, production and post-production spaces.
The buyer remains private though Gerard Poutier, a senior associate at CBRE Capital Markets, shared that it was a group of attorneys. This was an owner-user deal which came with a new tenant roster, “allowing a user to occupy the top floor while benefiting from in-place cash flow,” Poutier said.
“(The buyers) were attracted to the property due to its location within Burbank as well as the ability to occupy half the building and have the balance leased to quality entertainment groups,” Poutier said.
The property’s previous occupier, Original Productions, recently invested over $1.5 million in updates including upgrading the fiber in the building and completely renovating the central data center.
“When compared to leasing comparable space, the acquisition of this property provides long-term stability, tax benefits and asset appreciation,” Poutier said.
Creative Arsenal owned the building since 2005 and originally purchased it for
$3.2 million. The property has immediate access to interstates 5 and 134 and is about 3 miles from the Hollywood Burbank Airport.
“Its turnkey condition, high-image design and proximity to major studios and amenities made it a compelling opportunity for an owner-user or investor seeking a best-in-class asset in the heart of the entertainment capital of the world,” Poutier said.
— Kennedy Zak
Avelo Airlines Out, Breeze Airways In
On one hand, budget air carrier Avelo Airlines said in July it would wrap up its West Coast operations – centered out of Hollywood Burbank Airport – by the end of the year.
On the other, fellow budget airline Breeze Airways announced just days later it would take over some of the to-be-vacated terminal real estate at the regional airport.
Breeze Airways – which is based in Cottonwood Heights, Utah, and was founded by serial budget airway entrepreneur David Neeleman – will begin flights out of Hollywood Burbank in March, with five connecting destinations: Humboldt County Airport in McKinleyville, also known as Arcata-Eureka Airport; Eugene Airport in Eugene, Oregon; Tri-Cities Airport in Pasco, Washington; Provo Airport in Provo, Utah; and Redmond Municipal Airport in Redmond, Oregon.
The West Coast expansion comes as the airline closed its second full quarter of operating profit, the company said.
“With an expanded West Coast presence that connects travelers to our broader nationwide network, Breeze’s service will bring even more options and convenience to these underserved communities,” Neeleman, who serves as Breeze’s chief executive, said in a statement. “Our continued growth is evidence that our unique form of air travel that combines affordability and ease with high-value options like premium seating and inflight WiFi is not only working, but highly desired by today’s travelers.”
Avelo Airlines, which founded in 1987 as Casino Express Airlines, plans to end its West Coast operations by December. The Houston-based carrier actually had its inaugural flight under the Avelo moniker out of Hollywood Burbank, an April 28, 2021, jump to Charles M. Schultz-Sonoma County Airport. Though the airline in 2023 highlighted Hollywood Burbank as being responsible for at least a third of its customers, Chief Executive Andrew Levy cited market shifts for the cutback.
— Zane Hill
A Taste of Paris in Thousand Oaks
Le Macaron French Pastries opened a new store in Thousand Oaks, thanks to its new owner Liz Carpenter.
The café, which officially opened on Aug. 8, is the first for the Valley and the seventh to open in Southern California.
The Thousand Oaks café is part of a larger expansion plan of the Sarasota, Florida-based brand, which began franchising in 2012 and has since grown by more than 60 locations.
Carpenter, who touted the authenticity and array of the French macaron flavors, signed her franchise deal last year.
“Le Macaron is an original, boutique style French shop,” she said in a statement. Among the best sellers are Sicilian Pistachio and Lavender White Chocolate. “We’re excited for locals and guest in the Conejo Valley and nearby Los Angeles areas to experience what makes it so special. We have something for everyone.”
Carpenter’s café is in the Janss Marketplace, located at 205 N. Moorpark Road.
— Monée Fields-White
