SAN FERNANDO VALLEY
Hospital Acquisition: Beverly Hills’ GS Woodley has purchased the Chandler Convalescent Hospital in Valley Village for $14.8 million dollars from private investor Sanford Deutsch. The 62,000-square-foot facility, at 5335 Laurel Canyon Blvd., contains a 201-bed skilled nursing facility and 49-bed assisted-living facility in a building constructed in 1968. The hospital is on a triple-net lease with the property owner.
Industry Incentives: Santa Clarita Economic Development Corp., a non-profit that promotes business interests and the economy in the Santa Clarita Valley, in partnership with Los Angeles County has set aside $200,000 for industry cluster attraction incentives. The aim is to attract new businesses in targeted industries: aerospace, medical devices, information technology, manufacturing and entertainment.
Investment Fund: Tylt Labs, a Santa Monica venture capital firm that launched in October, said that it has raised a $20 million fund to be deployed in seed and A round investments. The fund is intended to provide money to 12 to 15 businesses this year with investments ranging between $50,000 and $2 million.
Multifamily Property: ENA 10 has purchased a Santa Monica multifamily building for $6 million from Eisen Santa Monica. The two-story apartment building, at 1027-1033 20th St., was built in 1956 and totals 18,820 square feet on half an acre
Wipe Pickup: Griffin Holdings, a Century City investment firm, has announced the completion of its acquisition of Tufco Technologies Inc., a Green Bay, Wis., maker of wet and dry wipes, in a go-private transaction. Tufco has ceased trading on Nasdaq. The purchase also includes Tufco’s Hamco Manufacturing printing business in Newton, N.C. Financial terms of the deal were not disclosed.
Sturgeon Refinery: Pasadena’s Jacobs Engineering Group Inc. has signed a contract with North West Redwater Partnership’s for work on its sturgeon refinery project in Alberta, Canada. Jacobs will provide engineering and procurement services for the refinery. Value of the contract was not disclosed.
Scaling Up: Burbank City Council has approved a planned Ikea that would be twice the size of the city’s current outlet – and the Dutch retailer’s largest store in the United States. The home furnishings chain, owned by Ingka Holding, plans to open a 470,000-square-foot store in 2016 at 805 S. San Fernando Road, less than a mile south of its current location, which was bought by Irvine’s Crown Realty and Development Inc.
Public Offering: Mandalay Digital Group Inc., a Hollywood mobile-software products maker, has closed its previously announced underwritten public offering of common stock. The company received about $18.6 million from the sale of more than 44.8 million shares of common stock.
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