SD FINANCE
Recent and archived news stories on: Banks, Credit Unions, Mortgage Lending, SBA, Stocks/Bonds, Venture Capital, Wealth Management...Putting Puts Charities in the Winner’s Circle
Kudos/Giving Column
The Farmers Insurance Open’s Birdies for Charity program raised more than $420,000 for eight local charities. Farmers Insurance and the Century Club of San Diego presented the funds to all eight participating Birdies for Charity organizations. Participating charities asked for pledges and donations from individuals who support their organizations.
Downtown Office Tower Sold for $140.8M
Dallas-based Lone Star Funds has purchased First Allied Plaza on West Broadway in downtown San Diego for approximately $140.8 million, as part of its $621.5 million acquisition of a national office portfolio from Wereldhave USA, according to CoStar Group.
Wisconsin Investment Firm Buys Scripps Ranch Retail Center
Wisconsin-based Hendricks Commercial Properties has purchased the Scripps Mesa Retail Center, in the Scripps Ranch neighborhood, for $6.9 million.
UCSD Student-Run Venture Fund Participates in Series B Funding
A student-run venture capital fund at UC San Diego has participated in a $16 million Series B round of funding in startup Savara Pharmaceuticals Inc.
WD-40 Co. Declares Dividends to Shareholders
The board of WD-40 Co. recently declared a dividend of 31 cents per share.
Pacific Premier Plans To Buy San Diego Trust
Another San Diego community bank is exiting the scene. San Diego Trust Bank, founded in 2003 and with three branches and $242 million in assets, agreed to be acquired by Pacific Premier Bancorp Inc., based in Irvine and with $1.2 billion in assets.
Shiley Makes a Healthy Donation to Scripps’ Musculoskeletal Center
Kudos/Giving Column
Local philanthropist Darlene Shiley has donated $5 million to Scripps Clinic to support advanced orthopedic care and research. The Donald P. and Darlene V. Shiley Musculoskeletal Center, on the first floor of the Scripps Clinic Torrey Pines Anderson Outpatient Pavilion in La Jolla, will provide patients with a range of medical services and centralized programs all in one place.
Kearny Mesa Office Building Sells for $14.5M
Newport Beach-based investment firm Peregrine Realty Partners has purchased the Chesapeake Park Plaza office building in Kearny Mesa for $14.5 million. The seller was CW Capital Asset Management LLC of Bethesda, Md., according to CoStar Group.
Realty Income Nets $756M from Stock Offering
Realty Income Corp. has closed on its recently announced public offering of common stock, which garnered net proceeds of approximately $756 million.
Harvest Meat Co. Acquires Assets From Randall Foods Inc.
San Diego-based Harvest Meat Company Inc., a national distributor of meat-based products, has acquired certain assets from Vernon-based Randall Foods Inc. Financial terms of the deal were not disclosed.
Seacoast Commerce Bank Nearly Doubles Its Loan Output
Seacoast Commerce Bank changed its business model last year to holding rather than selling its SBA loans, and naturally, its portfolio got a lot larger.
When Buying or Selling a Business, Beware of all Financial Issues
BUSINESS: Planning An Exit Strategy Can Take Years
Often described as financial matchmakers, business brokers occupy a special niche in the world of business transactions.
New Award to Give Head Start to Cognitive Research
Kudos/Giving
Former UC San Diego Chancellor Richard Atkinson donated $3.5 million to the National Academy of Sciences. The funds will be used to establish an annual $200,000 prize that will recognize the work of researchers in the fields of psychology and cognitive sciences.
Mixed-use Mission Hills Development Sells for $8.6M
Locally based Paragon Management Co. has purchased a mixed-use project in Mission Hills, called 1Mission, for $8.6 million, according to CoStar Group.
Realty Income Announces $656.9 Million Stock Offering
Realty Income Corp. has announced a public offering of common stock, expected to generate net proceeds of approximately $656.9 million.
