Orange County Business Journal


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

Hip Is Hot: Costa Mesa Retail Center Draws $120M Investment

REAL ESTATE: LA firm buys into Burnham-Ward project off 405SOCO—the hip mix of furniture, fashion, design and food tenants along the San Diego (405) Freeway in Costa Mesa—has gotten a new ownership structure and a big boost in its valuation.

By Mark Mueller November 23, 2015 midnight   $$ Share
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Cypress Firm Buys Atlanta Sign Maker

Christie Digital Systems USA Inc., a Cypress-based manufacturer of high-definition movie projectors, acquired Allure Global Solutions Inc. in Atlanta on undisclosed terms.

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Nekter Enters Sacramento

Nekter Juice Bar Inc. said Ohana Juice LLC would open two franchised stores in the Sacramento market.

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St. Joseph Health Signs Agreement with Providence

Irvine-based St. Joseph Health said today it signed a definitive agreement with Renton, Wash.-based Providence Health and Services.

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Microsemi to Buy PMC-Sierra for $2.5B

Aliso Viejo-based semiconductor maker Microsemi Corp. said it had a “definitive agreement” to acquire Sunnyvale-based semiconductor maker PMC-Sierra Inc. for $2.5 billion in cash and stock.

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Allergan Name to Go in $155B Pfizer Deal

Allergan PLC and Pfizer Inc. will merge in a deal worth about $155 billion.

Biggest Employers Pick Up Pace on New Hires

ECONOMY: 3.4% hike to 267,243 jobs; Disney keeps No. 1 spot

Orange County’s biggest employers grew their combined work force at the fastest rate in years.

Olen’s Spree: 3 Deals, 3 States, 1,000 Apartments

REAL ESTATE: Portfolio now tops 12,000 residential units

Olen Properties Corp. has spent nearly $200 million to buy three out-of-state apartment complexes this month, adding to a busy year of acquisitions for the Newport Beach-based real estate owner and developer.

IBC Apartment Sale Points to New Benchmark

REAL ESTATE: Estimate on per-unit price tops $400,000

A recently built apartment complex has traded hands in what looks to be one of the priciest per-unit deals for a multifamily property in the Irvine Business Complex.

Alphaeon Pays $59M for Device Maker

HEALTHCARE: Adds software firm on undisclosed terms

Alphaeon Corp. keeps on making deals.

Nonprofit OCTANe Seeks to Expand Prospects for Startups

STARTUPS: Seeks more VC partners; might add own fund

OCTANe’s new strategy to attract investment dollars and emerging companies to the region is showing early returns for Orange County’s vibrant startup and entrepreneurial scene.

Software Maker Raises $15.5 Million

Irvine-based Numecent received $15.5 million in Series B funding that included $4.5 million from a previous investor.

Firm Adds Attorneys, Changes Name

Costa Mesa-based bankruptcy law firm Weiland Golden LLP added William Lobel and Alan Friedman as partners and changed its name to Lobel Weiland Golden Friedman LLP.

SJC Socks, Apparel Brand Acquired

St. Louis-based acquired socks and apparel brand Richer Poorer Inc. in San Juan Capistrano on undisclosed terms.

Coastal Lux Home Sales Average 96% of Listing Price

Some Areas Even Higher— Cameo Shores at 98%

One thing appears to remain consistent in Orange County’s dynamic luxury market: Buyers are willing to pay top dollar for the expansive homes and unique estates prevalent in the communities along the coast.

OCTANe Plans Continued Support of LaunchPad Businesses

Will Expand Initiative To Connect Ideas, Investors

Panel discussions and business plan competitions weren’t the only agenda items on deck at the Medical Device & Investor Forum held this month by Aliso Viejo-based group OCTANe.

Irvine Developer Gets $23 Million for Anaheim Hotel

Five-Story, 110,000-SF Project Set to Open in ’16

One of the developers planning a hotel for Anaheim’s resort area has gotten a construction loan to get the project under way.

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Habit Postpones Holders’ $138M Offering

Irvine-based fast casual burger chain Habit Restaurants Inc. today postponed a secondary offering by shareholders of $138 million in common stock “in light of current capital market conditions.”

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Jobs, Unemployment Rate Up

The unemployment rate in Orange County moved up slightly in October despite an increase in local jobs.

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Bank to Form in OC

A new state-chartered bank has been approved to be established in Orange County.

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Microsemi Ups Bid for Chipmaker

Aliso Viejo-based chipmaker Microsemi Corp. increased its bid for PMC-Sierra Inc. this morning to roughly $2.39 billion.

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ICU Medical Shutters Slovakia Plant

San Clemente-based ICU Medical Inc. will close its manufacturing plant in Vrable, Slovakia, and cut 265 jobs, according to a Securities and Exchange Commission filing.

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Irvine Cloud Service Gets $15.5M

Irvine-based Numecent received $15.5 million in Series B funding that included $4.5 million from an investor from a previous round.

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Alphaeon to Buy Laser Maker

Irvine-based Alphaeon Corp. said today that it would buy Lensar Inc. for up to $59 million.

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Confie Buys Santa Ana Brokerage

Huntington Beach-based insurance brokerage company Confie has acquired California Insurance Specialists on undisclosed terms.