Residential Sale: Wayne & Patricia Kerbs Trust has purchased a Whittier apartment building for $5.48 million from the Lloyd & Jeanne Cox Trust. Built in 1973, the two-story, 52-unit Rancho La Mirada Apartments, at 11330 La Mirada Blvd., totals 41,360 square feet and sits on 1.6 acres. The building was 100 percent occupied at time of sale.
Silicon Salute: DoubleBeam, a Pasadena mobile payments infrastructure company, has won the Startup Showcase Competition at Silicon Beach Fest. DoubleBeam won the $5,000 grand prize at the event, which featured presentations by more than 40 companies. Judges included local venture capitalists and successful entrepreneurs. Startups were judged on presentation, level of innovation, differentiation in the marketplace and overall prospects for success
Sticky Transaction: Aurora Capital Group, a Westwood private equity firm, has sold portfolio company Adco Global Inc. to Arsenal Capital Partners, a New York investment firm. Adco, headquartered in Lincolnshire, Ill., supplies specialty adhesives, sealants, tapes and coatings to the construction and transportation industries. Financial terms of the deal were not disclosed.
Data Deal: Clearlake Capital Group LP, a Santa Monica investment firm, has led a management-backed acquisition of Inventus LLC, a Chicago electronic data discovery services provider. The investment group also included Cerca Group LLC, a New York investment firm. Financial terms of the deal were not disclosed.
SAN FERNANDO VALLEY
Revved Up: NetSol Technologies Inc., a Calabasas firm that installs and services software primarily used to manage auto lending and leasing, has signed a $10 million deal with an international auto finance organization. Netsol did not name the company, citing nondisclosure agreements, but said the contract includes product licenses, consulting fees, and on-site implementation and maintenance services.
Checked In: IPC the Hospitalist Co. Inc., a North Hollywood company that manages hospital-based and postacute care practices, has acquired Sound Senior Geriatrics LLC, a postacute hospitalist practice in Mystic, Conn. Sound Senior will add about 14,000 patient visits to IPC’s total of nearly 5 million. Financial terms of the deal were not disclosed.
Apartment Acquisition: La Paloma LLC has acquired a Reseda apartment complex for $14.5 million from 1439 Curson Partners LP. The 92,122-square-foot property at 7722 Reseda Blvd. was built in 1978 and comprises 138 units.
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