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Thursday, Feb 29, 2024

Regional Report


REIT Unit Agrees to Buy New Courtyard by Marriott

A new 142-room Courtyard by Marriott hotel has opened in Oceanside, Irvine-based developer R.D. Olson Development announced Nov. 11.

The hotel, at 3501 Seagate Way in the Ocean Ranch development, is being managed by Marriott International Inc. A subsidiary of Apple REIT 10, a Virginia-based real estate investment trust, recently disclosed that it has entered into an agreement to purchase the hotel for $30.5 million, subject to closing conditions.

In a statement, R.D. Olson Development said the hotel, built by the company’s construction division, was completed three weeks ahead of schedule. It is the second hotel to be built in San Diego County by the company, led by president and CEO Robert Olson, following a Residence Inn by Marriott completed in 2007, also in Oceanside.

The 79,000-square-foot Courtyard hotel has 2,000 square feet of meeting space, with fitness, pool and spa areas. The statement said the lobby has an interactive “GoBoard” displaying news, weather and local restaurant information, as well as semi-enclosed “media pods” with individually controlled flat-panel televisions.

— Lou Hirsh


Widow of Medgar Evers Christens New Navy Ship

The widow of civil rights leader Medgar Evers christened a U.S. Navy ship bearing her late husband’s name during ceremonies Nov. 12 at the General Dynamics Nassco shipyard. Myrlie Evers-Williams broke a bottle of champagne against the ship’s hull as dignitaries, including Navy Secretary Ray Mabus, looked on.

The 689-foot ship is the 13th of 14 dry cargo and ammunition ships that have gone together at the Barrio Logan shipyard. The resupply ship will join the fleet of the Military Sealift Command in 2012.

In other news, General Dynamics Nassco announced Oct. 31 that it acquired Metro Machine Corp., a surface ship repair firm in Norfolk, Va., for undisclosed terms. General Dynamics Nassco paid in cash.

— Brad Graves


Two Programs Separate to Keep Grant Options Open

Two programs, aimed at helping small businesses housed inside Southwestern College, are separating after 22 years in order to maintain their eligibility for state and federal grants.

The entities are the San Diego Small Business Development Center, focused on management and training consulting, and the Center for International Trade Development, which helps businesses in importing and exporting products.

The two centers decided to split in October but the separation doesn’t take effect officially until Jan. 1, according to a news statement.

In the last five years, the SBDC has assisted more than 12,000 businesses in such areas as expanding market share and sales, and reducing costs, the group said.

— Mike Allen


Care Facility Opens for Those Suffering With Memory Loss

San Diego-based Health Care Group has opened a new care facility in Carlsbad geared to residents with Alzheimer’s and other conditions related to memory loss. ActivCare at Bressi Ranch debuted Nov. 8 at 6255 Nygaard St., according to a company statement.

W. Major Chance, founder and chief executive officer of Health Care Group, said the facility offers accommodations for up to 80 individuals, and more than 20 rooms had been reserved as of Nov. 1. The facility has a licensed nurse on-site 24 hours daily, and serves residents with conditions ranging from mild cognitive impairment to late stages of memory loss resulting from Alzheimer’s disease and related dementia.

Among other facilities, Health Care Group also owns and operates Brittany House in Long Beach, serving more than 100 residents with memory loss.

— Lou Hirsh


Digirad Shakes Losses In Profitable 3rd Quarter

Digirad Corp., a maker of medical imaging machines, reported on Nov. 4 that it had third-quarter net income of $99,000 on revenue of $13.4 million, compared with a net loss of $1.3 million on revenue of $13.3 million in the same quarter one year ago.

For the first nine months of 2011, Digirad reported a net loss of $515,000 on revenue of $41.9 million. For the first nine months of 2010, Digirad reported a net loss of $5.7 million on revenue of $41.5 million.

As of Sept. 30, Digirad reported cash of $10.3 million, as well as $21.4 million of securities available for sale.

Digirad develops, makes and distributes solid-state medical imaging products such as gamma cameras. It also has services and leasing businesses. Its stock trades on the Nasdaq under the symbol DRAD.

— Brad Graves


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