San Diego Business Journal

SD FINANCE

Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...
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Pension Fund Is Acquiring Stakes in UTC Buildings for $256M

New York-based pension fund operator TIAA Global Asset Management has agreed to acquire a 45 percent stake in two University Towne Center office properties for a total of approximately $256 million, according to CoStar Group and property owner Alexandria Real Estate Equities Inc.

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ROIC Announces $115.8 Million Stock Offering

San Diego-based Retail Opportunity Investments Corp. (ROIC) on July 6 announced the start of a public offering of common stock shares, expected to generate net proceeds of approximately $115.8 million after underwriting and related expenses.

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HUFC Fundraising Gala Helps Children Around the World

The Fifth Annual Hands United for Children Fundraiser Gala took place at the Prado Ballroom in Balboa Park recently. The evening raised $97,000 for HUFC’s three projects: Children’s Nature Retreat, HUFC Dental Clinic and the programs in Saponé Burkina Faso in West Africa, all benefitting children in need.

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‘Shark Tank’ Survivors

FINANCE: Local Businesses Tested the Waters Of TV Show Financing With Mixed Results

When producers of the popular ABC TV show “Shark Tank” last came through San Diego County to audition potential entrepreneurs in 2014 — at Southwestern College in National City — more than 150 locals showed up to make their pitch.

Microlender Accion Partners With Small Business Administration

The San Diego District Office of the U.S. Small Business Administration has signed an agreement with Accion San Diego, a nonprofit microlender.

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La Jolla-Based Sector 9 Acquired by Bravo Sports Corp.

Bravo Sports Corp. in Santa Fe Springs bought Sector 9 in La Jolla on undisclosed terms.

San Diego Economic Index Down Slightly in May

An index tracking San Diego’s economic health showed the region in May lost nearly all gains made the previous month as hiring slowed and local stock prices dropped.

Ignyta Secures $42 Million Loan Facility

San Diego’s Ignyta Inc. has secured $42 million in loan from Silicon Valley Bank and Oxford Finance.

California Economic Index Shows Gain

Comerica Bank’s California Economic Activity Index advanced 0.9 of a percentage point in April to a level of 120.6, the bank said.

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Foundation Funds Groups on Front Lines of Helping Military

The Patriots Connection, a program of Rancho Santa Fe Foundation, awarded grants of $100,200 to nine nonprofit military programs in San Diego County recently. The Patriots Connection has awarded 135 grants of more than $1.2 million since 2009 to nonprofits serving the local military community.

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Short on Future Advice

Industry Projects Significant Shortage of Financial Planners

As more financial planners enter their 60s, wealth management firms and universities are looking for ways to bring younger people into the profession.

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Good Company

Qualcomm Ventures Is on the Hunt For Promising Tech Startups to Back

It’s been 31 years since Qualcomm Inc. was a startup. Today the chip maker has revenue of $25.3 billion. Still, it is very much a part of San Diego’s startup scene: Its venture capital arm is a source of capital for a lot of new companies.

MVP REIT Defers NASDAQ Listing Pending Review

VP REIT Inc. and MVP REIT II Inc., San Diego-headquartered investment firms focused on parking structures and facilities, have decided to defer taking any action to list the company’s common shares on the NASDAQ Global Market.

S.D. County Business Confidence Rebounded in May

The San Diego business community’s outlook is regaining stability after erratic confidence in recent months, the San Diego Regional Chamber of Commerce reported.

Grandpoint Division to Offer Cyber Crime Insurance

Grandpoint Bank, parent of La Jolla-based Regents Bank, has created a new division to address growing concerns about cybercrime within the banking industry.