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Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...

Pacific Premier Acquires Plaza Bancorp

Irvine’s Pacific Premier Bancorp bought Irvine-based neighbor Plaza Bancorp in an all-stock deal for $226.3 million. The acquisition values Plaza at $7.29 a share.

Irvine Software Maker in $1.2B Sale

Irvine-based software maker Vision Solutions Inc. has changed hands again as part of a $1.2 billion sale between two private equity firms.

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July Unemployment Up

OC’s unemployment rate rose to 4.2% in July, up from a revised 3.8% in June.

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Sabra Completes CCP Buy

Irvine-based Sabra Health Care REIT Inc. and Care Capital Properties Inc. in Chicago announced completion of their all-stock merger despite shareholder backlash.

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Paciolan to Buy Two Firms

Paciolan in Irvine will buy TicketsWest and West Coast Entertainment in Spokane, Wash., on undisclosed terms, a trade journal reported.

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PE Firm Buys Burbank Manufacturer

Newport Beach private equity firm JW Hill Capital has acquired an aerospace parts manufacturer in Burbank.

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Corient Capital Names CEO

Corient Capital Partners LLC, a Newport Beach wealth management firm with $1.8 billion in assets under management, said it hired James "Jamie" A. Rooney to a new position as chief executive officer.

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Sabra-CCP Deal Gets Shareholder OK

Sabra Health Care REIT Inc. shareholders voted to approve a proposal to issue common stock related to a pending $7.4 billion merger with Care Capital Properties Inc., a transaction scheduled to close Thursday.

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Johnny Rockets Nabs Pieology President

Johnny Rockets Group Inc. in Lake Forest appears to have snagged a new president who was named to the same position at Pieology Pizzeria in Rancho Santa Margarita in May.

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Evolution Sells LAX Hotel for $54M

Evolution Hospitality in San Clemente and Argosy Real Estate Partners in Wayne, Pa., sold the 216-room DoubleTree by Hilton Hotel LAX in El Segundo for about $54.1 million, sales records show.

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Pieology Heads South

Pieology Pizzeria in Rancho Santa Margarita said an area developer will open two locations in Mexico City by year-end in the city’s Polanco and San Jose de Insurgentes Sur neighborhoods, the first of 47 locations in the country.

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Grants at UCI Top $375M

University of California-Irvine researchers received more than $378 million in grants and contract funding for fiscal 2016-17, the second-highest total in campus history, UCI said.

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Market Concerned About Sabra REIT’s CCP Buy

But Company Plans To Go Forward With Deal

Irvine-based Sabra Health Care REIT Inc.’s $7.4 billion all-stock merger with Care Capital Properties Inc. in Chicago—which will create a company with a portfolio of 546 investments across 43 states and Canada—faces some headwinds after proxy advisory firm Institutional Shareholder Services Inc. recommended Sabra shareholders oppose the acquisition.

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Fashion Island at 50

‘You had to dream a lot’ in ’67

Every pair of shoes Tom Gazsi wore until he reached high school, his parents bought at Dick Marowitz’s Newport Children’s Bootery at Fashion Island—“Adidas, saddle shoes, dress shoes, everything!”

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Industrial Deal Puts Sears’ OC Sales Near $228M

LBA Buys Big Industrial Site on Warner For $41M

An affiliate of struggling retailer Sears Holdings Corp. has sold a second sizable Orange County property in less than a month, the Business Journal has learned.

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Accelerators Help Bridge County’s Vast Sprawl

Jumpstart Companies By Various Means

Accelerators play a multifaceted role in any startups ecosystem, providing access to investors and mentors and helping companies scale.

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FivePoint Goes Commercial With $443M Irvine Deal

REAL ESTATE: Broadcom site renamed; Irvine Co. model eyed

FivePoint Communities Inc. has completed the blockbuster $443 million purchase of Broadcom Ltd.’s campus where construction is wrapping up in Irvine.

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Businessman Eric Davidson, Breakers Live the Dream

SPORTS: Team rewards owner, fans, sponsors with televised title

Orange County’s professional tennis team is looking to build momentum off the court after winning the Mylan World TeamTennis championship under first-year owner Eric Davidson.

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CombiMatrix To Be Bought By Year-End

HEALTHCARE: SF-based InVitae grows family health

CombiMatrix Corp. announced InVitae Corp. in San Francisco is acquiring it. It’s an all-stock deal expected to close by the end of the year, valued at $33 million to CombiMatrix stock and warrant holders.

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CEO: Microsemi Surge Reflects Market Share Gain

Chipmaker’s Sales Rose In Three of Four Segments

Aliso Viejo-based chipmaker Microsemi Corp. turned in a strong June quarter, growing sales in three of its four key markets.

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Cylance Hires CFO; Says Sales Climb 283%

Cylance Inc., the fast growing Irvine-based maker of artificial intelligence software to combat computer viruses, named Brian Robins chief financial officer.

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Blizzard Sells E-Team to Rams Owner

Blizzard Entertainment Inc.’s Overwatch League, a professional video gaming competition, will include an e-sports franchise fielded by Los Angeles Rams owner Stan Kroenke and his son Josh.

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Hotel Sales Mid-Year Tally: $372M

16 OC hotels sold for more $372 million in the first six months of the year—an average of $23.3 million and 201% higher by dollar volume than in the same period last year.

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Del Taco Names CMO

Del Taco Restaurants Inc. in Lake Forest named Barry Westrum chief marketing officer.

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LPA Names New CEO

LPA Inc., the largest architectural firm in Orange County, named Wendy Rogers as chief executive officer, succeeding Robert Kupper who was CEO for 30 years.

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Pacific Premier Buys Plaza Bancorp

Irvine’s Pacific Premier Bancorp (NASDAQ: PPBI) bought neighbor Plaza Bancorp (OTC Pink: PLZZ) in an all stock deal for $226.3 million.

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