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Thursday, Jun 20, 2024

Around the Valleys

ANTELOPE VALLEY LANCASTER About 1,000 nurses at Antelope Valley Hospital on Sept. 29 ended their 24-hour strike, which was the first of its kind in the hospital’s 61-year history. The California Nurses Association, the union representing the nurses in contract negotiations, said the strike was aimed to bring attention to concerns such as safe staffing and retention of experienced nurses. Chief Executive John Rossfeld said the Lancaster hospital has addressed the non-economic issues the nurses have brought to light and hopes to resolve the strike in a respectful way. Over the summer, Antelope Valley Hospital reached a three-year agreement with labor union Service Employees International Union, which represents about 1,100 of the hospital’s employees. CONEJO VALLEY WESTLAKE VILLAGE Lure Fish House’s Westlake Village real estate has sold for $6 million, according to commercial real estate brokerage and development firm Westcord Commercial Real Estate Services in Westlake Village. A limited liability entity, Lucrit, of Santa Clarita bought the 7,470-square-foot restaurant and its 1.76-acre-property at 30970 Russell Ranch Road. The seller was another limited liability entity, Bdga, according to CoStar Group Inc. The restaurant sits at the corner of Lindero Canyon and Russell Ranch roads and is immediately close to a Residence Inn and the Four Seasons Hotel. Also nearby is the Shoppes at Westlake shopping center. Tony Principe, president of Westcord, and Kamal Banki represented both parties in the deal. SAN FERNANDO VALLEY BURBANK Burbank has received two awards from the International Economic Development Council for last year’s campaign to promote the city and its businesses. The city was awarded a silver award in Excellence in Economic Development in General Purpose Print Promotion for its 2015 marketing campaign. It also won a bronze Special Purpose Website award for the same campaign. The website and print efforts were part of Burbank’s overall economic development campaign that portrayed the city as the world’s top home for the media and entertainment industry with more than 1,000 relevant companies. CALABASAS Audio technology developer DTS Inc. is acquiring broadcast radio software company Arctic Palm Technology Inc. Terms of the deal between DTS, in Calabasas, and Arctic Palm, in Ontario, Canada, were not disclosed. DTS Chief Executive Jon Kirchner said the transaction shows the company’s commitment to delivery of the best entertainment experience to listeners anywhere, any time, on any device. DTS announced the transaction as it waits for its sale to Tessera Technologies Inc., in San Jose, to close in a deal valued at $850 million. That deal is expected to be completed by the end of the year or early next year. GLENDALE Health management company Apollo Medical Holdings Inc. announced that its affiliate medical group ApolloMed Hospitalists has been contracted to provide doctors to Lompoc Valley Medical Center. Pursuant to the contract, the Glendale company will provide around-the-clock hospitalists, or doctors that specialize in providing services in a hospital setting. ApolloMed’s service will include a nocturnist who will be at the Lompoc hospital from 7 p.m. to 7 a.m. ApolloMed will also partner with other departments to improve efficiencies, such as reducing readmission rates and enhancing clinical scores. SHERMAN OAKS Real estate company IMT Capital has sold its apartment complex in Thousand Oaks. Called IMT Thousand Oaks, the property sold for $67 million, or $351,000 per unit, to Pacific Urban Residential, an apartment investor in Irvine, according to Calabasas real estate brokerage Marcus & Millichap Inc. That price was a 30 percent increase over what IMT paid for the property in 2012, about $51.4 million. The 191-unit, two-story complex built in 1973 sits on nearly 9 acres at 491 W. Gainsborough Road and has a mix of one-, two- and three-bedroom apartments. Features include in-unit laundry appliances and patios or balconies. Roberto Barragan, 57, has resigned as chief executive of the Valley Economic Development Center Inc., according to the L.A. Daily News. Barragan has worked for the small business finance organization for 17 years. His last day in office will be Oct. 28, but he will continue as an advisor until a new chief executive is appointed. Barragan joined the Sherman Oaks nonprofit in 1995 and has helped expand its reach into other cities and regions such as Chicago, Las Vegas, Miami and New York. According to the L.A. Daily News, Barragan earned over $300,000 in annual salary, which will be added to the Valley Economic Development Center’s general fund. SYLMAR Tutor Perini Corp. announced it has won a contract to build the Rosewood Miramar Beach Montecito in Santa Barbara County. The construction company was awarded the contract by Caruso Affiliated. Tutor didn’t disclose the contract value and said it would be reported as part of its project backlog in its third-quarter earnings. The 16-acre luxury resort is being built on the site of the former Miramar Hotel and will consist of 161 one- and two-story guest accommodations, a main building, two restaurants, a bar, outdoor terrace, spa, two pools and more. Construction is expected to finish in the summer of 2018. TARZANA Investment and property management firm Gelt Inc. has bought a Colorado apartment complex for $66 million, citing Denver’s growing population and employment. Gelt bought the 400-unit Westhills apartments at 453 Van Gordon St. in the Denver suburb of Lakewood from Fowler Property Acquisitions. The complex was built in 1972 and is spread across 27 buildings on more than 16 acres. The firm plans to continue the prior owners’ renovation of 30 percent of the units by refurbishing 100 original units with new vinyl plank flooring, stainless steel appliances, cabinet faces, fixtures and in-unit washers and dryers. UNIVERSAL CITY The Federal Trade Commission has charged Sage Auto Group with using so-called “yo-yo” financing tactics on customers to perpetrate unfair and deceptive sales practices. The complaint alleges Universal City-based Sage, which owns nine dealerships, pressured customers who had already signed a contract and driven off the lot to return and sign a different deal. The tactic is known as yo-yo financing and it’s the first time the FTC has made an action against an auto dealer for the practice. The FTC said in a statement it is seeking to return money to the wronged customers while ending the dealership’s unlawful practices. Steven Spielberg’s content creation firm Amblin Partners LLC, formerly DreamWorks Studios, has named a new chief operating officer and general counsel. Chris Floyd, who joined DreamWorks in 2007 and played a key role in the establishment of Amblin Partners in 2015, was promoted to the position from his post as general counsel and head of business affairs. He will continue to lead the company’s business and legal affairs in addition to assuming oversight of international distribution and various other operations of the firm. Amblin Partners offices are on the lot of Universal Studios in Universal City. SIMI VALLEY Simi Valley AeroVironment Inc. received a $22.8 million contract from the U.S. Army to supply its armed forces with miniature missile systems. The Monrovia-based company said Monday it will deliver the Switchblade aerial missile systems within 12 months. AeroVironment designs, manufactures and tests its unmanned aircraft in Simi Valley. The Switchblade drone launches from a tube and contains a body carrying explosives. It is controlled by a soldier using a hand-held screen. The aircraft flies below 500 feet in altitude at speeds up to 98 miles per hour. The U.S. military has been using the weapon system since 2011 and the version being made for the Army has been improved based on feedback from users. – Compiled by Stephanie Henkel

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