Orange County Business Journal

FINANCE

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

Obamacare Provides Lift for Central OC

REAL ESTATE: Provider, insurers snap up former subprime turf

Obamacare was a boon to the health of Central Orange County’s office market in 2014.

Edwards In $50M Round for NorCal Device Maker

HEALTHCARE: Gets option to buy Menlo Park-based startup

Irvine-based Edwards Lifesciences Corp. has dipped its toe into the investment waters of the medical device business.

Olen Flips Santa Ana Business Park for $31.7M

REAL ESTATE: Sheds odd fit, uses some of profit in Atlanta

Newport Beach-based Olen Properties has sold one of its local holdings, a business park in Santa Ana that it owned for less than three years.

RJI Acquires IE Accounting Firm

Irvine-based RJI Ramirez Jimenez International CPAs has acquired an accounting firm in the Inland Empire on undisclosed terms.

Hospitality: Richard ‘Dick’ Pickup

Longtime Equities Investor Puts $65 Million Into Family Ties

Dick Pickup sips an Arnold Palmer and wonders why all the attention.

Real Estate: Emile Haddad

Great Park Developer Lands Broadcom for Commercial Anchor

Emile Haddad caught the big fish in Orange County’s office market last year.

Restaurants: Steve Sather

Market Cap Near $800M After El Pollo Loco Leaves ‘No Stone Unturned’

El Pollo Loco Holdings Inc. President and Chief Executive Steve Sather is our Business Person of the Year for restaurants—but it took nearly a decade to pull it off.

Finance: Mordy Rothberg

Busy Buyer Builds Regional Insurance Brands With Latino Focus

Confie Seguros Insurance Services is getting big with a lot of small moves.

OC Real Estate Specialists Predict 2015 Lux Trends

Rising Prices, Strong Sales Among Expected Patterns

Orange County’s coastal luxury market posted a solid sales year in 2014.

Taylor Morrison Buys Newport Beach Housing Site

‘Echo Beach’ Plan Would Raze 1970s-Era Apartments

A midsize apartment complex steps from the ocean in Newport Beach has been acquired by a new owner with plans for a for-sale residential project at the site.

Real Estate Deals

Sales and leases of offices, industrial buildings, retail space and apartments

Tyler Leeson of Marcus & Millichap’s Newport Beach office had the exclusive listing to market an apartment building in Anaheim on behalf of the seller, a limited liability company.

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Midday Stock Roundup

The S&P 500 was down 0.1% to 2,077.47 in midday trading.

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Pac Life Adds $200B Worth of Reinsurance Business

Pacific Life Insurance Co. has assumed $200 billion worth of individual life reinsurance risk from Reinsurance Group of America Inc.

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Costa Mesa Firm Headed to Utah

Armada Skis Inc. is moving its headquarters from Costa Mesa to Park City, according to the Utah governor’s Office of Economic Development.

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Orange Bank Acquired

Orange-based First Security Business Bank has been acquired by San Diego Private Bank on undisclosed terms.

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Wells Fargo Names Irvine Exec SoCal President

Wells Fargo has named Ben Alvarado president of its Southern California region in a restructuring.

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Irvine Resort Operator Plans Napa Expansion

Irvine-based Pacific Hospitality Group has proposed a 134-room expansion to its Meritage Resort and Spa in Napa, according to a news report.

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PE Firm Invests in Apparel Company

Private equity firm Altamont Capital Partners in Palo Alto said it’s made a strategic investment in Cypress-based Hybrid Apparel.

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Aliso Viejo Software Firm Gets $2M

Corent Technology Inc. in Aliso Viejo received $2.1 million in venture capital funding.

Early Indicators Point to Strength, Staying Power for OC’s Economy

Is the outlook for business in Orange County hot or strong?

Olen Adds Atlanta Apartments, Stays Patient on Deals Here

REAL ESTATE: Latest OC-based investor to buy into Georgia capital

A nationwide apartment push by Olen Properties has seen the Newport Beach-based real estate owner and investor make its first acquisition in the Atlanta area while ramping up development in other markets outside Orange County.

Bankers See Trend of Global Growth for OC Clients in 2015

FINANCE: Exports pegged to rise 8%, reach $28B in 2015

Many of the biggest commercial banks with operations in Orange County are poised to gain from international markets as the local business landscape becomes more global in character.

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OC Adds 9,000 Jobs, Unemployment Rate Steady at 5%

Orange County added 9,000 jobs in November, continuing a streak of monthly job gains since a dip in August.

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Sanuk Founder Leaves for Tea Brand

Sanuk USA LLC founder Jeff Kelley said he will “transition from an active role” at the Irvine-based footwear brand by the end of the year.

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Wet Seal Revises Loan Terms With BofA

Wet Seal Inc. said it amended its loan terms with Bank of America N.A. and will now provide reports on the value of its assets to the lender on a weekly basis instead of once a month as previously agreed.