SAN GABRIEL VALLEY
Retail Property: HKRM has purchased a Temple City retail property for $5.2 million from TC Associates. The property, Shops at Temple City Plaza at 5551-5573 Rosemead Blvd., was built in 1978 and totals 23,540 square feet. The property was 100 percent leased at the time of sale.
Water Program: Pasadena engineering services company Tetra Tech Inc. has been awarded a $74 million contract, principally financed by the United States Export-Import Bank, for the Sri Lanka National Water Supply and Drainage Board. Tetra Tech will design and oversee the completion of a new water supply treatment plant for the city of Badulla and surrounding communities. It will also rehabilitate two existing plants during the three-and-a-half-year contract.
Software Sale: Skyview Capital LLC, a Century City investment firm, has completed the sale of educational software developer Headsprout to Learning A-Z, part of Dallas’ Cambium Learning Group Inc. Financial terms of the deal were not disclosed. Skyview acquired Headsprout as part of its July purchase of Mimio, a teaching technology company in Cambridge, Mass.
Furniture Move: Revolution Capital Group, a Century City private equity firm, has acquired Tvilum, a Faarvang, Denmark, furniture maker that was a subsidiary of Taylor, Mich.’s Masco Corp. Tvilum’s ready-to-assemble products are made in Denmark and sold in markets around the world. Financial terms of the deal were not disclosed.
WEST LOS ANGELES
U.K. Acquisition: CBRE Group Inc., a West L.A. real estate services company, has acquired Norland Managed Services Inc., a London-based provider of engineering services for commercial buildings. Norland, whose main markets are the United Kingdom and Ireland, will be part of CBRE’s global corporate services business. Financial terms of the deal were not disclosed.
Stock Repurchase: Anworth Mortgage Asset Corp., a Santa Monica real estate investment trust, has authorized the acquisition of up to an additional 5 million shares of its common stock. From Oct. 1 through Dec. 20, Anworth had repurchased more than 2.8 million shares of its common stock.
Apartment Buildings: Philco Investments has purchased three multifamily properties in Koreatown for $8.8 million from Vista Investment Group. The three apartment buildings, at 407, 530 and 531 S. Kenmore Ave., total 67,422 square feet and were 96 percent leased at the time of sale.
SAN FERNANDO VALLEY
Practice Pickups: IPC the Hospitalist Co. Inc., a North Hollywood company that manages hospital-based doctors, has acquired three doctor practices in Michigan and Florida. IPC bought the practices of Drs. Bruce Johnson and Allen Trager, osteopaths in Roseville and Flint, Mich., respectively. The company also acquired the practice of Dr. Victor Toledano in Fort Lauderdale, Fla. IPC expects the acquisitions will add about 44,000 patient visits annually to the company’s total.
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