San Diego Business Journal


Vical Inc. Announces $4.4 Million Loss For Third Quarter

Vical Inc., a San Diego-based biopharmaceutical company, announced Thursday that it lost $4.4 million in the third quarter, or 5 cents per share, which is 1 cent below what Wall Street analysts were projecting. The loss is less than half the $9.9 million Vical lost in the same period in 2013.

Balboa Park to Get Tech Upgrades With $1 Million Donation

Visitors to Balboa Park will soon be able to enjoy Internet access and other high-tech improvements following a $1 million donation from the James Irvine Foundation to double the size of the park’s WiFi network.

AMN Healthcare Reports $265 Million in Third-Quarter Revenue

AMN Healthcare Services Inc., a San Diego-based staffing company, announced quarterly revenue of $265 million for the third quarter of this year.

Vibra Bank Acquired by Los Angeles Bank

Vibra Bank, based in Chula Vista and one of San Diego’s smallest with about $148 million in assets, said it signed a definitive agreement to be acquired by Pacific Commerce Bank of Los Angeles in a stock and cash deal valued at $16 million.

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Third-Quarter Revenue Rises 6 Percent at BioMed Realty Trust

San Diego-based BioMed Realty Trust Inc. saw total revenue rise 6 percent from a year ago in its third quarter ending Sept. 30, reaching $168.9 million, with rental revenue for the period hitting a company record $122.8 million.

Apartments Planned at San Diego Site Acquired for $3.5 Million

Rize Eagles LLC has purchased a 1.8-acre parcel in San Diego’s College area for $3.5 million, with plans to develop a new apartment community, according to brokerage company Colliers International.

Fourth-Quarter Revenue Up 6.3 percent at PriceSmart Inc.

PriceSmart Inc., the San Diego operator of club warehouse stores in Latin America and the Caribbean, reported fiscal 2014 fourth quarter revenue of $622.6 million, up 6.3 percent from the like quarter of 2013.

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Wermers Completes $6.5 Million Kensington Apartment Project

San Diego-based Wermers Multi-Family Corp. recently completed construction of Kensington Commons, a 34-unit apartment project on Adams Avenue in the city’s Kensington neighborhood.

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Realty Income Reports Third-Quarter Gains in Revenue, Income

Realty Income Corp. posted a 16.6 percent gain in revenue from a year ago and a 40.8 percent rise in net income available to common stockholders for its third quarter ending Sept. 30.

Thomas Jefferson Reaches Restructuring Deal With Bondholders

Thomas Jefferson School of Law said it signed a restructuring agreement with its bondholders, reducing its debt from $127 million to $40 million, and lifting the cloud of default.

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County Construction Contracts Up 30 Percent in First 9 Months

San Diego County’s contracts for future construction rose 30 percent in value for the first nine months of 2014 compared with the same year-ago period, topping $3.2 billion, according to the latest data from McGraw Hill Construction.

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Rancho Valencia Resort Rates High Among Conde Nast Readers

Rancho Valencia Resort & Spa, a luxury property spanning 45 acres in Rancho Santa Fe, was recently named the top resort in Southern California, No. 6 in the U.S. and No. 25 globally in Conde Nast Traveler’s 2014 Readers’ Choice Awards.

Biocom Institute Seeking Applicants for Veterans Mentoring Program

The Biocom Institute, the educational and workforce development arm of the life sciences trade association Biocom, is now accepting applications from military personnel interested in participating in its Veteran Career Mentoring Program.

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Richman Group Begins Work on $28 Million Seniors Community

La Jolla-based Richman Group of California has broken ground on a $28 million, 95-unit affordable apartment community for seniors in downtown Fullerton.

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Hillcrest Apartment Project Gets $7.46 Million in Construction Financing

Real estate and capital services provider HFF has secured $7.46 million in construction financing for a planned 36-unit apartment building in Hillcrest, being developed by San Diego-based Veritas Urban Properties.

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Alexandria Buys Sorrento Mesa Office Property for $13.1 million

Alexandria Real Estate Equities Inc. of Pasadena has acquired the two-building Barnes Canyon Center office property in Sorrento Mesa for $13.1 million, according to CoStar Group and public data.

My Perfect Pet Moves to Larger Production Facility

My Perfect Pet, an all-natural dog food company, announced its move to a production facility 10 times larger than the current location and a new distributor to meet a growing national demand.

SingldOut Inc. Raises More Than $500,000 for Expansion

San Diego-based SingldOut Inc., a dating website that analyzes members’ DNA and matches people based in part on genetic compatibility, has raised more than a half-million dollars in its seed financing round from a group of private investors.

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Hyatt Place Hotel in Vista Sells For $22 Million

An entity recorded as HP Vista LLC has purchased the 150-room Hyatt Place hotel in Vista for $22 million, according to CoStar Group and public data.

Mogl Receives $11 Million in Venture Funding

Mogl, the San Diego-based restaurant loyalty service, received $11 million in venture funding recently, led by existing investors.