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San Diego-based Excel Trust Inc. saw total revenue rise 14 percent from a year ago, reaching $30.6 million in its second quarter ending June 30.
Vibra Bank, based in Chula Vista and a single office, reported a second quarter loss of $26,000, compared to net income of $61,000 for the like period of 2013.
EvoNexus, the incubator of CommNexus, the area’s nonprofit trade group for the high-tech industry, said one of its portfolio companies Portfolium recently closed a $900,000 seed round of investment from the Tech Coast Angels and other San Diego-based investors.
San Diego-based investment firm BBL Commercial Real Estate and Westbrook Partners of New York City have purchased the Fifth Avenue Financial Center in Bankers Hill, better known locally as “The Mister A’s Building,” BBL officials announced.
Correlation Ventures, a San Diego venture capital firm that invests only with other venture firms and has deployed $166 million, said it added eight new portfolio companies during the second quarter of this year, bringing the total number of companies it’s funded to 88.
The San Diego chapter of Tech Coast Angels said its investments in the first half of this year, $7.3 million, matched the total invested in all of 2013.
La Jolla Pharmaceutical Co., a therapeutics company focused on unmet life-threatening diseases, announced the closing of its underwritten $56.6 million public offering.
Fitch Ratings has assigned an ‘AAA’ rating to the San Diego County Regional Transportation Commission’s $350 million sales tax revenue bonds, 2014 series A.
Although San Diego lenders are generally making more loans backed by the U.S. Small Business Administration, loan amounts have declined for most of this fiscal year, according to the latest report from the SBA’s San Diego district office.
FINANCE: BrightScope’s Growth in Revenue, Clients Leads To Increase in Hiring
BrightScope, a San Diego startup that began rating company 401(k) plans, is still rating those plans and financial advisers, but it is now making more money from all the data it’s collected, and signing up bigger clients.
ECONOMY: It May Boost Commercial Fishing, Tourism
Local operators and government officials believe a fresh-seafood market debuting soon on the downtown San Diego waterfront could be a good first step toward restoring what was once a much more vibrant regional fishing economy.
Bristol-Myers Squibb has signed a 10-year lease with San Diego-based BioMed Realty Trust Inc. for about 61,000 square feet of additional laboratory and office space at BioMed’s Woodside Technology Park, a life science industry campus in Redwood City.
Economy: Construction Jobs Rise as Projects Get Going
Work at Kaiser Permanente’s new hospital in Kearny Mesa is going smoothly — so well that the expected completion of the $900 million project was moved up several months to March 2016. And that progress is reflected in the construction employment levels on the site.
Escondido-based Realty Income Corp. saw revenue rise 22.6 percent from a year ago in its second quarter ending June 30, reaching $228.6 million.
San Diego Private Bank reported second quarter net income of $594,000, up from $253,000 for the like quarter of 2013 when the results were affected by the bank’s merger with Coronado First Bank.