THOUSAND OAKS, CA—Younan Properties, a real estate investor and manager, has acquired an eight-property medical office portfolio from an unnamed seller in Thousand Oaks. Totaling 62,248 square feet, the portfolio of newly constructed buildings is vacant and ready for tenancy.

“This was an attractive acquisition for Younan Properties because the portfolio is located in Southern California, one of our key markets, and the buildings are well located in the Conejo Valley submarket along the 101 corridor. The location is excellent,” Denise Davis, VP of communications at Younan Properties, tells GlobeSt.com. The eight-property portfolio is part of a 31-property development known as Conejo Ridge Executive Center. Each building ranges in size from 4,800 square feet to 15,500 square feet.

Like all of its Southern California acquisitions this year, the real estate investor purchased this portfolio with cash. Although it did not release the final purchase price, Zaya Younan, the company's CEO and chairman, notes that the company was able to purchase the portfolio at an attractive price, about one third of the typical per square foot market price for a similar asset in this submarket.

In total, the firm has purchased eight assets this year alone. “Younan Properties has been investing capital and acquiring assets for the last 12 months as part of our national platform expansion strategy,” says Davis. “This is the latest announcement in acquisitions. We have acquired 13 assets in the last year and a half.” Those acquisitions include a seven-story office tower in Chicago, purchased out of foreclosure, and the Galleria Plaza in Dallas, TX.