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Friday, Aug 19, 2022
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Regional Report

CENTRAL AREA

HOLLYWOOD

Apartment Purchase: Woodland Hills’ CGI Strategies in Real Estate has acquired a Franklin Village apartment building for $12.3 million from limited liability corporation Villa Carlotta. Built in 1926, the 50-unit, four-story Villa Carlotta totals 45,644 square feet. The building, which requires major rehab, was designated a Los Angeles Historical Cultural Monument in 1986.

SOUTH BAY

EL SEGUNDO

Revved Up: Internet Brands, an El Segundo software firm and operator of consumer-interest websites, has acquired High Gear Media, a Menlo Park publisher of auto enthusiast sites. Internet Brands said the acquisition will expand monthly unique visits to the company’s properties by 25 percent to 35 million. Financial terms of the deal were not disclosed.

NORTH COUNTY

LANCASTER

Drug Deal: Simulations Plus Inc., a Lancaster developer of clinical trial software used by drug makers, has completed its acquisition of Cognigen Corp., a Buffalo, N.Y., company that helps drug makers seek regulatory approval for their products. Simulations Plus will pay Cognigen shareholders $7 million, with $2.8 million of that in cash and the remainder in newly issued unregistered stock. Cognigen will be a subsidiary of Simulations Plus and operate under its own name.

SAN FERNANDO VALLEY

AGOURA HILLS

Private Funding: Aligned TeleHealth Inc., an Agoura Hills company that provides specialty physical consultations to hospitals and emergency rooms via telecommunications networks, has secured private funding from two investors to support growth plans. The company would not disclosed how much it received from Hector Sulaiman, chief executive of Mexico City’s Controles Graficos, and Deepak Chopra, chief executive of Hawthorne’s OSI Systems Inc. Sulaiman and Chopra have been named board advisers.

WOODLAND HILLS

Northern Exposure: AFEX, a Woodland Hills provider of cross-border payment services for businesses, has purchased GFX Partners, a Toronto provider of payment and foreign exchange services. AFEX said the purchase will bolster its position in the Canadian and North American markets. Financial terms of the deal were not disclosed.

STUDIO CITY

Back Aboard: Shareholders of Studio City discount-ticket service Tix Corp. have re-elected the company’s board. The five directors, including Chairman and Chief Executive Mitch Francis, will serve through next year’s annual meeting. The company operates Las Vegas kiosks that sell discount show tickets.

WESTSIDE

DEL REY

Residential Acquisition: Newport Beach’s InSite Investment Realty Inc. has purchased a Del Rey apartment property for $15.1 million from Westwood’s Canfield Development. The 42,900-square-foot, five-story Azure building was built this year and was 70 percent leased at the time of sale.

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