Saticoy Property Acquisition

 

 

 

Informed by our namesake and the Characteristics of Marianist Education he inspired, Chaminade College Preparatory has always aimed to be forward-thinking. With this in mind, we are excited to announce the purchase of the shopping center near the high school campus on Saticoy. The nearly five-acre Saticoy property is a rare find for our community, as it is one of the last remaining parcels adjacent to our campus. We’re eager to work with you as we begin to envision our future with the freedom this new property affords us. Look here for updates as we move forward.

 

Saticoy Property FAQs

 

Q. How will this impact Chaminade’s finances?

A. For the past several years, the Chaminade board of directors and leadership have prioritized bolstering our school’s fiscal health. As a result of this work, we’ve been able to eliminate debt and ensure a strong financial position for Chaminade. The purchase of the Saticoy property is both a testament and example of our financial soundness. This property is an integral part of our financial and educational future as we continue to carry out our Catholic, Marianist mission.

 

Q. Will this purchase require an increase in tuition? Reductions in campus resources?

A. No. In making this purchase, we ensured that it was done in a fiscally responsible manner. The purchase is funded through both financial reserves and support from a low-interest bank loan. The funds for this purchase are not being made through special tuition increases, or reductions to educational resources or faculty and staff salaries.

 

Q. Will Chaminade be expanding its student population?

A. We are very early in the process and have yet to go through a master plan to determine how the Saticoy property will best benefit Chaminade’s educational future and our community. However, we currently do not intend to increase the number of students.

 

Q. How quickly will Chaminade be developing the property?

A. There is no set timeline for determining how this property will factor into Chaminade’s future. The first step in any process will be working with our community—parents, faculty, staff, and neighbors—to think about our future needs and the needs of our surrounding area through the master plan. As we gain clarity through this effort, we’ll have a better idea of what the future might hold for this property.

 

Q. Will Chaminade be purchasing other property?

A. If the right opportunity presents itself, we would consider it. However, the Saticoy property is a rare find. There are very few properties adjacent to campus that could become available for purchase.

 

Q. When will Chaminade’s master plan process begin?

A. In the coming weeks we will announce the selection of the team leading our master plan process, as well as opportunities for our collective community to provide input. The master plan work will help us think about how we maximize the use of the Saticoy property, and how we extend the goals embodied in our Loving, Learning, and Leading Together strategic plan.

 

Q. Will Chaminade be changing any of the shopping center tenants?

A. We are still very early in the process. We will, of course, review all leases and tenants in the property. However, we don’t have immediate plans to make changes to the tenants of the center. We are committed to ensuring that tenants have ample notice to plan for their future, when and if we decide to make changes.

 

Q. How will Chaminade notify the community of plans for the future?

A. As we move through the master plan process, we will host listening sessions for our internal constituents and our neighbors. In addition, we will continue to send Beyond the Gates to our neighbors twice a year, as well as during key points in our deliberations and planning. We’ve established a community hotline: (818) 347-5723 x500.

 

Q. How much did Chaminade pay for the property? Who did it purchase it from?

A. $14 million. The property was owned by the West Hills Market, LLC, and Leimert/Saticoy, L.P.

 

Q. Who will manage the Saticoy Property?

A. We’ve retained NewMark Merrill Companies as the manager of the Saticoy property. They bring extensive experience in commercial real estate and they know this property in depth. Jim Patton is the primary property manager and can be reached at (818) 710-6100.

 

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Middle School Campus

19800 Devonshire Street
Chatsworth, CA 91311
Phone: 818-363-8127

High School Campus

7500 Chaminade Avenue
West Hills, CA 91304
Phone: 818-347-8300