October 08, 2021
The former Trinity Broad casting Network campus in Costa Mesa, California, has been sold for $22 million to Khoshbin Co., which is owned by real estate developer and supercar collector Manu-chehr “Manny” Khoshbin.
Plans for the campus remain somewhat fluid, Khoshbin told the Orange County Register September 17. An early vision is to add a car museum, restaurant and creative office spaces, but he said that could shift if a tech company shows interest in the space.
Khoshbin has 2.3 million followers on Instagram where he can often be seen posting photos and videos about supercars. Car enthusiast websites estimate his personal car collection is worth at least $50 million.
In a video posted to YouTube, Khoshbin shares details of a custom Hermes Bugatti Chiron, one supercar in a $17 million collection he ordered a year ago. Other supercars included a McLaren Speedtail, Koenigsegg Jesko and a Mercedes AMG Project ONE.
Khoshbin, 50, has amassed a $110 million commercial real estate portfolio, according to Forbes magazine, which reports Khoshbin could barely speak English when his family abruptly left Iran in 1984 when he was 14 years old.
His family wanted to escape the war in Iran, which saw a few of his relatives badly injured, and avoid the same fate happening to Manny and the other children.
His wife is Iranian-Canadian actress Leyla Milani, who has appeared in various television shows such as “Entourage” and “Curb Your Enthusiasm.” They were married in 2011.
Khoshbin recounts the story of how his parents, himself and three other siblings had to live in their station wagon while his father saved up enough money to rent an apartment. He says he once worked at K-Mart and skimped and saved every last cent, taking the bus to work while others had a car. He speaks about how people made fun of him, racially abused him and discounted him at every turn.
However, he was committed to getting really rich. With almost no cash, he used the power of the internet to understand, research, and ultimately buy his first investment property—a single-family home in Gardena, California.
Khoshbin poured all his energy into fixing up that property. He renovated it with the little money and credit he had and then put it on the market for rent. Forbes reports that after two years the value had shot up, netting him over $100,000 on that sale. He turned that capital over to buy three more homes.
After his success with single-family homes, Khoshbin moved into small apartment buildings, then into commercial real estate. It’s today’s income-producing commercial real estate assets that’s provide him the wealth for his ever-evolving collection of luxury, exotic and hypercars.
While Khoshbin, his wife and two children live in California, many of his holdings are in Texas. He’s used sites like loopnet.com from the very start to research commercial real estate properties, creating alerts that helped to funnel him the right information at the right time. He told Forbes it’s in large part thanks to that single website that he’s had so much success in the commercial real estate market.
Today, his company has real estate holdings in seven states, totaling over 2.5 million square feet.
