San Diego Business Journal

SD FINANCE

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

County Median Price for House in June is $525,000

The median price for single family houses sold in San Diego last month rose 5 percent from May to $525,000, while the median price for condos sold here last month was unchanged at $334,500, according to the Greater San Diego Association of Realtors.

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Westcore Sells 9 Industrial Buildings for $88.5 Million

San Diego-based Westcore Properties has sold a nine-building industrial portfolio, which includes five in San Diego, for $88.5 million. The buyer was Rexford Industrial Realty Inc. of Los Angeles, according to statements from the buyer and seller.

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Realty Income Corp. Buys El Cajon Retail Center for $20.1 Million

Escondido-based Realty Income Corp. has purchased a two-building community shopping center in El Cajon for approximately $20.1 million, according to CoStar Group and public data.

Pulse Receives Notice of Noncompliance From NYSE

Pulse Electronics Corp., a San Diego-based maker of electronic components, said it has been notified by the New York Stock Exchange that it is not in compliance with the exchange’s minimum listing requirements covering market capitalization.

Teens Without Diplomas Face Bad Job Prospects

ECONOMY: Minimum Wage Hike Could Make Job Search Even Harder

Many San Diego teenagers are likely singing the summertime blues amid an already tough job market and a $1 per hour statewide minimum wage hike that took effect last week.

Seragon Being Purchased in Deal Potentially Worth $1.7 Billion

Seragon Pharmaceuticals, a privately held San Diego-based drug developer targeting breast cancer treatment, agreed to be acquired by Genentech, a subsidiary of the Roche Group, for $725 million in cash plus future payments which could reach $1 billion if specific milestones are reached, the companies announced.

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Novatel Settles Class-Action Lawsuit

Novatel Wireless Inc. settled a securities class action lawsuit without admitting liability on June 23, according to a securities filing, following a preliminary agreement to settle struck on Dec. 6.

SANDAG Program Will Help Companies to Increase Number of 'Teleworkers'

The San Diego Association of Governments is launching a pilot program aimed at helping employers to convert more of their workers to teleworkers, or working from their homes.

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BBX Capital Corp. Acquires Solana Beach-Based Jer’s Chocolates

Solana Beach-headquartered candy maker Jer’s Chocolates has been acquired by BBX Sweet Holdings, a wholly owned subsidiary of Florida-based BBX Capital Corp.

Trovagene Secures Debt Facility of $15 Million

Trovagene Inc., a San Diego molecular diagnostics company, said it secured an unrestricted debt facility of $15 million from Silicon Valley bank and Oxford Finance LLC.

Real Estate Firm’s Service Targets Sellers Needing Quick Cash

Renovation Realty, a San Diego residential contractor and full-service real estate firm, said it launched a new service it calls Sell Your Home Quick aimed at homeowners who need to sell their homes quickly for cash.

Cidara Therapeutics Completes $32M Series A Financing Round

Cidara Therapeutics, a privately held bio-pharmaceutical company formerly known as K2 Therapeutics, said it completed a $32 million Series A financing round.

Ambrx Withdraws IPO

La Jolla-based biotech Ambrx Inc. withdrew its plans for an initial public offering, citing current market conditions, according to Renaissance Capital.

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Qualcomm Joins MapR Technologies’ Backers

Qualcomm Inc.’s venture capital arm has invested in a Silicon Valley company that specializes in Hadoop, an up-and-coming software for dealing with big data.

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Red Cross Chapter Names William Earley as CEO

The American Red Cross San Diego / Imperial Counties Chapter named William Earley as regional chief executive officer.