Orange County Business Journal

OCBJ WEEKLY EDITION

OC 500’s Place in the Pulpit; Man’s Lamb Chops

Howard and Roberta Ahmanson recently hosted another intriguing salon at their family office on Von Karman, providing the Baroness Caroline Cox, a long-standing member of the British House of Lords, a platform to talk about her ongoing efforts to give voice to peoples under religious prosecution around the world—you can check out her book titled “The Very Stones Cry Out” for more.

OC 500’s Place in the Pulpit; Man’s Lamb Chops

Howard and Roberta Ahmanson recently hosted another intriguing salon at their family office on Von Karman, providing the Baroness Caroline Cox, a long-standing member of the British House of Lords, a platform to talk about her ongoing efforts to give voice to peoples under religious prosecution around the world—you can check out her book titled “The Very Stones Cry Out” for more.

OC 500’s Place in the Pulpit; Man’s Lamb Chops

Howard and Roberta Ahmanson recently hosted another intriguing salon at their family office on Von Karman, providing the Baroness Caroline Cox, a long-standing member of the British House of Lords, a platform to talk about her ongoing efforts to give voice to peoples under religious prosecution around the world—you can check out her book titled “The Very Stones Cry Out” for more.

State Fund Office in Santa Ana Sold to Investor

REAL ESTATE: Caltrans’ new space last sold for $40M in 2014

A Chicago-based real estate investor that buys commercial properties leased to government agencies has bought the State Fund office in Santa Ana, bringing its 2016 Orange County acquisitions tally past the $120 million mark.

The Eyes Have It With OCTANe’s New Fund

HEALTHCARE: First $5M in investments spread over 3 deals

Aliso Viejo-based OCTANe has invested $5 million in three ophthalmology companies through its Visionary Venture Fund.

Palace Pays Debt With Parent’s IPO

Palace Entertainment Holdings LLC in Newport Beach has paid down $430 million in debt with part of the proceeds of its Madrid-based parent company’s $600 million initial public offering in April.

2017 Preview: TECHNOLOGY

The past year was marked by a wave of consolidation in the local technology sector as several big-name companies were taken over.

2017 Preview: REAL ESTATE

Is the clock ticking on Orange County’s real estate market?

2017 Preview: HEALTHCARE

Healthcare services continue to trend toward convenience and personalization.

2017 Preview: RETAIL & MARKETING

Orange County will have a prominent role in the marketing industry’s deepening use of artificial intelligence as more tools emerge to help brands connect with consumers on a personal level.

2017 Preview: HOSPITALITY

The Disneyland Resort area and the coast drew most of the investment in hotels that opened or got under way this year.

Modified Mainstream at Source

Food, Entertainment Main Draws at New Retail Landmark in Buena Park

Visitors to Buena Park’s soon-to-open retail center, The Source, next year should have the chance to check out a movie in a theater that incorporates interactive special effects, relax at a spa, play a round of virtual-reality golf, and sample fare from across the globe at a variety of restaurants unique to the area.

2017 Preview: Multifaceted Push for Growth

No sooner does OC’s community of business make big news one year than it’s prepping plans to do it again in the next.

Fashion Island Tests Interactive User Tech For Irvine Company

RETAIL: Chatbot helps navigate guests’ brick-and-mortar experience

Irvine Company is using Fashion Island as a testing ground for a concierge chatbot that helps shoppers find brands, stores or services offered at the outdoor mall in Newport Beach.

Game Maker Takes Artsy Approach

TECHNOLOGY: Coloring app diversifies revenue streams

The recent acquisition of thousands of digital jigsaw puzzles signals a new turn for MobilityWare as it diversifies revenue streams beyond traditional card games.

ADDENDUM

Other items of interest Orange County Business Journal Vol. 39, No. 51

The University of California-Irvine opened a Center for Critical Korean Studies with a grant of about $850,000 from the Academy of Korean Studies in Seongnam, South Korea.

OCBJ Calendar

Dec. 19-28, 2016

This week's business and other event listings.

A Look Back at the Homes that Wowed Us This Year

Stadium Sports, Outdoor Living, Even a Tower

Orange County boasts some of the most impressive homes in the country, from sprawling European-inspired estates that grace the low hills of Coto de Caza to the modern masterpieces with endless ocean views.

Edwards Maps 2017 Outlook at Investor Conference

Valve Maker Expects Sales Gains From New Segments

Edwards Lifesciences Corp. highlighted growth plans for its core and newly acquired business lines next year.

City of Santa Ana Calls in the Pros for Profile Refresh

Hires Nashville Shop to Work on Its Public Image

Santa Ana hired North Star Destination Strategies in Nashville, Tenn., to develop a “community brand” for the city to market itself to residents, businesses and visitors.

Accelerator Joins Startups System With 10-Firm Setup

ERGO Capital Establishes Facility at Eureka in Irvine

Irvine-based ERGO Capital recently launched an accelerator at the Eureka Building co-working space in Irvine.

Year in Technology Highlights New Generation

Consolidation Shakes Up Otherwise Veteran Lineup

It was a dynamic year in Orange County’s diverse technology sector as several young companies made the leap to market-leading contenders.

Real Estate Deals

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

K&G El Paseo 1 & 2 LLC sold Plaza El Paseo in Rancho Santa Margarita to Plaza El Paseo Center LLC for $56.6 million, or about $550 per square foot.

North OC Business Parks Get NorCal Owners

$46.5M Spent on 2 Sites That Last Sold for $34.1M

One of the largest business parks in Yorba Linda has been bought by an investor in San Francisco.

Challenges Start at Aitkens’ Place

Holiday fun can become more meaningful with a challenge or two, which was the case at Wylie and Bette Aitkens’ recent party at their spread in Anaheim Hills.

Aliso Viejo Health Center Operator Snags $92M

HEALTHCARE: Draws interest of Swiss billionaire’s fund

Aliso Viejo-based Crossover Health Inc. secured a $92 million investment from Gurnet Point Capital in Cambridge, Mass.

De Novo Bank Cancels Bid to Join Field

FINANCE: Falls short on requirement to raise $25 million

Organizers of Core Commercial Bank have put the effort on the shelf in a move that comes about a year after they received government approval.

Oakley In Deal At Big Bear Resort

Oakley Inc. has signed on as the official eyewear and goggle brand of the Big Bear Mountain Resort, which includes the Bear Mountain, Snow Summit and Snow Summit Bike Park venues.

2016 YEAR in Review: Real Estate

Jabara’s Mobilitie, a wireless infrastructure firm whose business model is run much like a traditional real estate landlord, entered the year promising the “largest network deployment in the U.S.”

2016 YEAR in Review: Technology

The Business Journal, in a rare move, double dipped and tapped Broadcom co-founder Henry Samueli as the person to watch.

Hines in Line to Buy New Broadcom Campus

Mega Transaction Expected to Include Land, Leaseback

The local office of real estate investment and development firm Hines Interests LP (see related story, page 4) has emerged as the likely buyer of the massive office campus being built for Broadcom Ltd. in Irvine.

2016 Year in Review

Another big year.

2016 YEAR in Review: Healthcare

We selected Kiani—co-founder and longtime chief executive of Irvine-based patient monitoring device manufacturer Masimo Corp.—as the person to watch in 2016 based primarily on his ongoing effort to eliminate preventable patient deaths in U.S. hospitals by 2020.

Startup Hits Return On Growth Via Reliable Email

TECHNOLOGY: Raises $33M in anticipation of IPO Next Year

A startup founded by a couple of Orange County residents and a partner from Riverside, raised $33 million in advance of a potential initial public offering next year.

2016 YEAR in Review: Finance

Healy is co-founder and managing director of private equity firm L Squared Capital, which opened its Newport Beach office about two years ago.

PIMCO Plans More Property Buys with New Fund

REAL ESTATE: $818M raised in past month for BRAVO III

Pacific Investment Management Co. has raised more than $800 million in recent weeks for a new fund that will invest largely in real estate-oriented assets.

Conexant Climbs on Amazon Deal

TECHNOLOGY: Erstwhile tech star’s chip in Alexa development kit

Conexant Systems Inc.’s new deal with Amazon.com signals a comeback for the Irvine-based chipmaker, which emerged from bankruptcy organization more than three years ago under the ownership of hedge fund billionaire George Soros.