AIRPORT BOARD: Los Angeles Mayor Eric Garcetti appointed a new Board of Airport Commissioners, with only one holdover from the Villaraigosa administration. Valeria Velasco, a Playa del Rey estate planning attorney and member of the LAX/Coastal Chamber of Commerce, is the only member of the old commission, which oversees Los Angeles International Airport and other Los Angeles World Airports facilities, to return. New members include former California State Assemblywoman Jackie Goldberg; Bea Hsu, vice president of development for developer Related California; and Sean Burton, president of Westwood real estate investment firm CityView.

HOTEL SELLS: Pebblebrook Hotel Trust in Bethesda, Md., has acquired Hollywood’s boutique Redbury Hotel from CIM Group for $34 million. The 57-suite luxury hotel, bar and restaurant operation will remain under management of Sam Nazarian’s SBE Hotel Group. CIM, a Hollywood developer, opened the hotel at 1717 Vine St. in September 2010, after buying the partially completed former property at a bankruptcy auction. Pebblebrook’s other L.A. hotels include the Mondrian in West Hollywood, the W in Westwood and Sheraton Delfina in Santa Monica.

VALLEY DEALS: Rexford Industrial Realty Inc. has added to its San Fernando Valley portfolio with a pair of industrial purchases worth about $14 million. The Brentwood real estate investment firm has acquired a 75,288-square-foot multitenant industrial complex at 18310-18330 Oxnard St. in Tarzana and a 48,388-square-foot building at 8101-8117 Orion Ave. in Van Nuys. The deals come less than one month after Rexford raised $224 million in its initial public offering.

CONSOLIDATION: Wilcon, a downtown L.A. regional fiber-optic network and data center company, has acquired a Marina del Rey competitor, Freedom Dark Fiber Networks. The deal, terms of which were not disclosed, will enable Wilcon to grow its fiber footprint by nearly 3,000 additional route miles from Bakersfield to San Diego, providing greater network access to nearly 1,000 additional companies, wireless communications sites, data centers and Internet hubs. Freedom Dark Fiber Networks will be renamed Freedom Telecommunications.

OBITUARY: Walter Diamond, co-founder of local appliance and hardware retailer Snyder Diamond, has died of complications of lymphoma. He was 85. Diamond started a scrap metal business in the late 1940s and later joined with Lou Snyder to form Snyder Diamond in the 1950s. The company operates decorative plumbing and hardware showrooms in Santa Monica, North Hollywood and Pasadena. He is survived by his wife, Sheri, and four adult children.

TECH DEAL: Hermosa Beach investment firm Marlin Equity Partners has acquired 6N Systems of Clifton Park, N.Y. 6N makes software for financial billing, management and documentation that it sells to long-term care organizations. Marlin will merge 6N with SigmaCare, a New York electronic medical records software company it acquired last month.


For reprint and licensing requests for this article, CLICK HERE.