Orange County Business Journal

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

Deal Signal of Irvine Co. Shopping Spree?

REAL ESTATE: $1B CMBS offering could precede some big property buysA new billion-dollar funding deal involving a portion of Irvine Company’s apartment portfolio raises the prospect that Orange County’s dominant real estate company could soon be on the lookout for acquisitions.

By Mark Mueller May 23, 2016 midnight   $$ Share
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Chapman Creates VP for Research

Chapman University named Thomas Piechota its first vice president of research, effective Sept. 1.

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Carbon-Capture Co. Gets $29M

Costa Mesa-based Newlight Technologies LLC, founded to make technology that captures and converts carbon and methane into plastics, received $29.2 million in “Form D” venture funding, according to a regulatory filing Tuesday.

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More Job Cuts at WD

Irvine-based storage products maker Western Digital Corp. is cutting nearly 100 more jobs in Orange County as the company begins to integrate its $17 billion buy of SanDisk Corp. that closed two weeks ago.

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Tilly’s Shares Up

Shares of Tilly’s Inc. in Irvine were up 12% in midday trading Thursday following a first quarter report that exceeded Wall Street expectations on revenue and despite a higher-than-expected loss.

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Alphaeon CEO Steps Down

Robert Grant is no longer the chief executive of Irvine-based Alphaeon Corp., a lifestyle healthcare company he founded three years ago.

Irvine Co. Provides Free Space to Incubator - Which Provides Free Space to Startups

Bennett Washabaugh and Mike Zei launched their commercial real estate startup, TenantBase, with Irvine Company in mind as an innovator that leases space to startups around the country.

KBS Lands SF Tower, Redmond Business Parks

REAL ESTATE: $300M spree follows bond deal in Israel

A real estate investment trust run by Newport Beach-based KBS Realty Advisors, fresh off a $250 million bond offering in Israel, has made plans to spend nearly $300 million on an office property in downtown San Francisco and a portfolio of business parks in the Seattle suburbs.

Details of Pending Abbott-St. Jude Merger Unclear

HEALTHCARE: Combo to make both more competitive

It’s not yet clear how Abbott Laboratories’ pending $25 billion buy of St. Jude Medical Inc. will impact the latter’s Orange County operations.

Dallas Biotech to Costa Mesa

Dallas-based Cerebain Biotech Corp. has moved its corporate headquarters from Dallas to Costa Mesa.

Theme Park Company Buys NY Property

Apex Parks Group LLC in Aliso Viejo bought Martin’s Fantasy Island theme park in Grand Island, N.Y., on undisclosed terms.

AI Developer Secures Sony Investment

Anaheim-based artificial intelligence developer Cogitai received a strategic investment on undisclosed terms from Sony Corp., the multinational conglomerate headquartered in Tokyo, Japan.

Knife Maker Sold to Beverly Hills Firm

American Capital Ltd. sold PHC Sharp Holdings Inc. to Beverly Hills-based investment manager Levine Lechtman Capital Partners on undisclosed terms.

Augmented Reality Product Picked for China Pitch

CandyBAR Delivers Images to Mobile Devices

Irvine-based Candy Lab, which has developed an augmented reality product intended to help businesses attract consumers, is one of eight companies selected by the Plug and Play Tech Center in Sunnyvale to pitch to venture capitalists, angel investors, and government officials in China.

Pyott Slated to Return to Spotlight at Eye Conference

Will Be Interviewed By Another Company Veteran

David Pyott, retired chief executive and chairman of Allergan Inc., now Allergan PLC, will be the headliner next month at the annual Ophthalmology Technology Summit put on by OCTANe, an Aliso Viejo-based booster group for life sciences and other forms of technology.

Newport Sports Museum Office Sells for Top Price

Museum Closed in 2014, Sells for Nearly $1,500/SF

An office near Fashion Island shopping center that previously held the Newport Sports Museum has sold for what looks to be one of the highest recent prices for an office deal in Orange County per square foot.

Clean Energy Founder Savors Idea of First Profits

Otherwise Laments State Of Overall Fuel Market

Count Clean Energy Fuels Corp. co-founder and corporate raider T. Boone Pickens among the throngs of company backers who thought a profitable quarter would come years ago.

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OC Unemployment Down

Orange County’s unemployment rate was down to 3.9% in April as employers added 9,600 jobs.

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UCI Eye Institute Gets $2M

University of California-Irvine’s Gavin Herbert Eye Institute received a $2 million gift from the Discovery Eye Foundation in Los Angeles.

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Sony Invests in AI Developer

Anaheim-based artificial intelligence developer Cogitai received a strategic investment on undisclosed terms from Sony Corp.

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Knife Maker Sold

American Capital Ltd. sold PHC Sharp Holdings Inc. to Levine Lechtman Capital Partners on undisclosed terms.

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Apex Parks Buys in NY

Apex Parks Group LLC in Aliso Viejo bought Martin’s Fantasy Island theme park in Grand Island, N.Y., on undisclosed terms.

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Q1 Tech VC Funding Down

Orange County High-tech venture capital investment dollars declined in the first quarter of 2016 compared with the same time last year.

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Nissan Takes $2.2B Mitsubishi Stake

Nissan Motor Co. Ltd. said it will take a controlling stake in Mitsubishi Motors Corp., the parent company of Cypress-based Mitsubishi Motors North America Inc., for about $2.2 billion.

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Palace Parent Goes Public

Newport Beach-based Palace Entertainment Holdings LLC’s $430 million in debt is expected to be repaid as a result of its parent company’s recent initial public offering.