SAN FERNANDO VALLEY
Project Brewing: Anheuser-Busch is investing $20 million at its Van Nuys brewery to improve water efficiency in the filtering, brewing and packaging operations. The funding by the St. Louis beverage company, the U.S. arm of Belgium’s Anheuser-Busch InBev, is part of a larger $1.5 billion the company plans to spend on its U.S. operations by 2018.
Residential Move: Cores Management Inc., a Beverly Hills multifamily investment firm, has acquired a Canoga Park apartment property for $26.3 million from Praedium Group of New York and Beverly Hills’ Brooktree Realty Investors. The 81-unit Verandas complex, at 21535 Roscoe Blvd., was built in 2012. Average rent is $2,400.
Driving Interest: Sperling Nursery in Calabasas has sold the 10.5-acre property on which it did business to Chicago’s Slevin Automotive Group, which plans to build a Nissan dealership on the land at 24460 Calabasas Road.
Multifamily Pickup: RBM of California Inc., the L.A. subsidiary of Tokyo’s Residence Building Management Co. Ltd., has purchased a Sherman Oaks apartment building for $16.5 million from L.A. developer DNN Capital Inc. in an all-cash deal. The four-story, 34-unit Vista Modern apartment complex, at 4632-46 Vista Del Monte Ave., was built in December.
Taking Off: Tetra Tech Inc., a Pasadena engineering services company, has been awarded a $48 million contract to provide environmental services to Air Force installations in Europe. The contract has a five-year ordering period with three additional years for execution.
Healthy Boost: In-home senior care management website HomeHero of Santa Monica has just raised $20 million in a Series A round to expand its services to about a dozen cities over the next two years, starting with San Diego and San Francisco. The round was led by Graham Holdings Co. of Washington, D.C.
Law Merger: Westwood law firm Richardson & Patel has merged its eight-person team with West L.A. law firm Mitchell Silberberg & Knupp, among the largest firms in Los Angeles County. The Richardson firm, which moved into MSK’s West L.A. office and began using the MSK name last week, specialized in corporate finance, securities, merger and acquisitions, private equity and other general corporate matters.
DOWNTOWN LOS ANGELES
Industrial Purchase: Ming Zhi Investment has acquired a downtown L.A. industrial building for $3.1 million from Urth Alameda Development. The 4,500-square-foot property, at 580 S. Alameda St., sits on 14,963-square-foot lot in the Arts District.
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