Residential Deal: 306 S El Molino Partners LP has purchased a 31-unit Pasadena apartment building for $4.08 million from Lion Del Mar LLC. The four-story, 21,986-square-foot building, at 306 El Molino Ave., was built in 1928. Included in the sale was a 5,319-square-foot parking lot at the back of the building.
SAN FERNANDO VALLEY
Taking Root: Sprouts Farmers Market LLC, a Phoenix-based grocery chain, has opened a store in West Hills’ Fallbrook Center. The new 27,522-square-foot shop is at 6605 Fallbrook Ave.
Sounding Off: DTS Inc., a Calabasas audio technology company, has reached a deal to supply surround-sound technology for four vehicle models made by Chinese carmaker BYD Co. Ltd. The tech firm will supply DTS Digital Surround for the G6, S6, Surui and Surui BYD models, which are sold in China.
Taking Off: Ontic, a Chatsworth-based aerospace supplier, has signed a licensing agreement to supply parts for cockpit controls used on commercial, business and military aircraft with Curtiss-Wright Controls Integrated Sensing, a division of Charlotte, N.C., aerospace parts maker Curtis-Wright Corp. The deal will allow Ontic to supply landing gear levers, pilot LED checklists, flight-control surface indicators and push-to-talk switches.
Checked In: Vista Capital Co., a Santa Monica real estate investment banking firm, has raised $32 million in financing for a portfolio of five hotels. Four of the hotels are in Goodyear, Ariz., in the metropolitan Phoenix area, and the other is in Washington, Utah.
SAN GABRIEL VALLEY
Retail Acquisition: A private L.A. investor has acquired a Pomona retail center for $14 million from Santa Ana’s Red Mountain Retail Group. The Shops at Indian Hill, at 631-641 Indian Hill Blvd. and 1541-1575 Holt Ave., is 58,485 square feet and sits on 4.25 acres. An El Super grocery store is the anchor.
DOWNTOWN LOS ANGELES
Secondary Offering: Oaktree Capital Group LLC, a downtown L.A. investment management company, has priced a secondary offering of 7 million shares at $53.50 a share. The company will use the nearly $375 million in proceeds from the offering to buy equity from executives and directors including Chairman Howard Marks and President Bruce Karsh. The underwriters of the offering have been granted a 30-day option to buy up to 1.05 million additional Class A shares.
Campus Construction: Aecom Technology Corp., a downtown L.A.-based provider of engineering and technical services, has been awarded a contract by the Los Angeles Community College District to oversee the final phase of the district’s $6 billion capital program. The modernization program, financed from voter-approved bonds and supplemental state money, was launched in 2001 at the district’s nine colleges and headquarters. Aecom will receive $94.6 million to manage use of the remaining $2.7 billion in funds.
In the “Twenty in Their 20s” section of the May 13 issue, the name of SmartDeco Furniture co-founder Shane Webster was misspelled.
• • •
The article headlined “Grounds for Growth” in the May 20 issue mischaracterized the relationship of coffee companies Supreme Bean LLC and Groundwork Coffee LLC. Both have similar ownership but neither is a
subsidiary of the other. Also, Groundwork launched bottles of cold-brewed coffee at Whole Foods Market stores, not Supreme Bean.
• • •
The Page 3 column item headlined “More Than Just Meat Wagon” in the May 27 issue misstated the status of Huntington Meats during the Gilmore Heritage Auto Show. The store was to remain open during the June 1 event.
For reprint and licensing requests for this article, CLICK HERE.