Orange County Business Journal

FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Solis Gets Stake in Propane Company

Newport Beach-based private equity firm Solis Capital Partners LLC has invested in ICOM North America.

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Latino Focus for CSUF Center

The Orange County/Inland Empire Small Business Development Center at California State University-Fullerton plans to focus on Latino-American business owners with its third site here.

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Pyott in Line for $100M Payout

Allergan Inc. Chief Executive David Pyott is in line for a severance payment of $100 million as a result of Actavis PLC’s pending buy of the Irvine-based drug maker, according to a federal filing.

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Shorebreak Hotel Sells for $58.5M

Bethesda, Md.-based DiamondRock Hospitality Co. said it has bought the Shorebreak Hotel in Huntington Beach for $58.5 million.

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Irvine Software Firm Gets $19M

Irvine-based software company Mavenlink Inc. has raised $19 million in a recent funding round.

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Entrepreneur Media Invests in NY Firm

Entrepreneur Media Inc. in Irvine has invested in AlleyNYC, a company that leases shared work spaces on an hourly basis.

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Corinthian: Good News, Bad News

Corinthian Colleges Inc. got a reprieve from the California Student Aid Commission for one of its subsidiaries in the state, but its division in Canada filed for bankruptcy protection there after regulators closed the local campuses, according to news reports.

Port Discord Starts to Seep Into OC

ECONOMY: Inventories, air shipments help blunt effects so far

Most Orange County-based companies that rely on seaborne shipments have so far managed to work around the labor dispute that’s jamming West Coast ports.

Quality’s New Quantity

Adoption of Electronic Medical Records Prompts Diversification at Software Maker

Quality Systems Inc. has gone from darling to diversification, and the shift in gears looks to be giving the Irvine-based medical software maker and its shares a shot in the arm.

Vans Looks to Asia for Next Chapter of Growth

APPAREL: Expects to near $3 billion in sales by 2017

Kevin Bailey’s goals for Vans Inc. seem quite ambitious.

Sales of New Homes Reach 10-Year High

REAL ESTATE: Top builders in area combine to top 4,000 mark in 2014

More than $3.5 billion was spent on new homes in Orange County last year as the area’s busiest builders reported the most sales here in a decade.

Mastering the Plan: Share Sales Rise for OC’s Big Three

Irvine Ranch, Pavilion Park, RMV Counter Nat’l Trend

Sales at Orange County’s best-selling masterplanned residential developments showed no signs of slowing last year and are poised for more growth this year, despite a cooling trend across much of the country.

Infill Projects Keep Big and Small Builders Busy

Less Risk, Fast Sales Appeal to Publicly Traded Firms

Orange County’s largest masterplanned developments are driving a bulk of the recent new-home sales in the region, but plenty of builders are also finding success buying land for residential projects off the beaten path.

Allergan Brand Equity Seen as Key to Top Billing

HEALTHCARE: Name better known than buyer in $71B deal

Actavis PLC’s recent decision to take on the name and ticker symbol of Allergan Inc. after it completes its $70 billion acquisition of the Irvine-based drugmaker next month brought plaudits from the local business community, where the move was hailed as a worthy acknowledgment and good business sense.

Menlo Buys $60M+ of Offices in South County

REAL ESTATE: Four offices total 365,000 square feet

Menlo Equities LLC has added four more offices to its already sizable holdings in Foothill Ranch and Lake Forest, in a pair of acquisitions valued at more than $60 million.

Pizza Chain Adds Fast-Casual Version

San Clemente-based Oggi’s Pizza and Brewing Co. plans to mine the fast-casual trend as it also expands its full-service restaurants.

Buchanan Street Bolsters Portfolio Beyond OC Base

REAL ESTATE: Gets low-rises in SoCal, 10-story Dallas office

Recent deals for three low-rise offices in Southern California capped off an active couple of months for Newport beach-based Buchanan Street Partners, which has also added a 10-story office in Dallas to its portfolio of recent investments.

Raj Buys Basta Swim, Beachwear Brand

Raj Manufacturing LLC in Tustin acquired Basta Co., a New York-based swim and beachwear brand. The financial details of the deal were not disclosed.

Golden State Plans $40M Alabama Plant

Irvine-based food manufacturer and distributor Golden State Foods Corp. is planning to spend about $40 million to build a meat processing plant in Alabama.

Octane Head Leaves for San Diego

Matthew Jenusaitis will step down as president and chief executive of Aliso Viejo-based Octane to join the University of California San Diego Healthcare System.

New Scholarship Program at Chapman

The Simon Foundations in Newport Beach and Chapman University in Orange plan to offer scholarships to four high school students a year to major in science, technology, engineering and math (STEM) disciplines.

Irvine-Based REIT Discusses Probe of Biggest Tenant

HCP Says Nursing Home Operator Cooperating

Executives at Irvine-based HCP Inc. are standing behind their largest tenant, which is being investigated by the Department of Justice and several other federal agencies.

Mid-Counties Industrial Market Notches Strong Q4

The Mid-Counties industrial market saw a 47% increase in year-over-year gross absorption in the fourth quarter, or nearly 2.5 million square feet compared to roughly 1.7 million square feet.

Legal Job Ad Question: Is Vizio Mulling IPO?

Desired Skills Include SEC Filings, Pre-IPO Know-How

Is Irvine-based Vizio Inc. mulling an initial public offering?

Brea Industrial Project Moves Ahead on Imperial

Clarion, Pacific Industrial Buy Site From Greenlaw

Land in Brea that once held an RV storage facility is on the fast track to hold one of the city’s largest new industrial buildings.