Mergers & Acquisitions for the Week of June 10, 2024

A roundup of notable M&A deals involving Southern California companies.

Ace Software Exports Limited agreed to acquire the remaining 60% stake in Woodland Hills-based QeCAD on June 5 for about $343,000. QeCAD provides architectural drafting, modeling and visualizing services. The company was founded in 1992 and is based in Woodland Hills. Ace Software purchased a 40% stake in the company in January, and this acquisition will increase its stake to 100% upon completion of the deal, which is expected to close within the next six months.

Student Housing

Virtus Real Estate LLC agreed to acquire Student Housing Property located in Fayetteville, Arkansas, from Strategic Student & Senior Housing Trust Inc. for $72.3 million on June 7. Strategic Student & Senior Housing Trust Inc. will use net proceeds from the sale to repay two loans that include a $34.5-million mortgage loan and a $25.5-million bridge loan and other corporate purposes. The sale is expected to close in the third quarter. Andee Hartig of Jackson Walker LLP acted as legal advisor to Virtus Real Estate LLC. Steven Kennedy of Seyfarth Shaw LLP acted as legal advisor to Strategic Student & Senior Housing Trust Inc.