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By Pacific Coast Business Times Staff / Monday, September 13th, 2010 / Top Stories / Comments Off on Investigation puts Oxnard
Oxnard’s efforts to rebrand itself as an “international city” may suffer as county and federal agents investigate the possible misappropriation of public money and conflicts of interest among city officials. But the ordeal should be “a footnote in history” by the time serious marketing of the new image begins several years from now, business leaders Read More →
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By Pacific Coast Business Times Staff / Monday, September 13th, 2010 / Top Stories / Comments Off on For a song, and $81.5M: L.A. firms buy Serenade apartments.
When the Seranade apartment complex in Oxnard’s RiverPark development was sold Sept. 2 for $81.5 million, it was the biggest apartment sale in Ventura County in years. It was also a bet by its new owners that Oxnard has enough white-collar workers to support the 400-unit luxury complex. Three Los Angeles-area firms — Urban Partners, Read More →
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By Pacific Coast Business Times Staff / Monday, September 13th, 2010 / Top Stories / Comments Off on Real estate firm files for $175M offering
Velocity Commercial Capital plans to raise $175 million in an initial public offering of its stock, a sign that it hopes investors still see money to be made in commercial real estate lending. The Westlake Village-based firm, which originates and acquires small-balance commercial real estate mortgages, filed documents with the U.S. Securities and Exchange Commission Read More →
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By Staff Report / Friday, September 10th, 2010 / Latest news / Comments Off on Harrington West files for bankruptcy
Solvang-based Harrington West Financial Group, the former parent of failed Los Padres Bank, announced Sept. 10 that it has voluntarily filed for Chapter 11 bankruptcy. Harrington West, listing more than $26 million in liabilities, said it intends to file a liquidating plan within the next few months. With the loss of Los Padres Bank Read More →
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By Pacific Coast Business Times Staff / Friday, September 10th, 2010 / Uncategorized / Comments Off on Santa Lucia defers debt payments
Atascadero-based Santa Lucia Bancorp said Sept. 3 that, following consultation with Federal Reserve officials, it will defer payments on $5 million in debt for up to 20 quarters. The firm also recently announced that it expects to enter an agreement with or be placed under an enforcement order to boost capital by banking regulators. The Read More →
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By Staff Report / Wednesday, September 8th, 2010 / Latest news / Comments Off on Row 44 closes $37M funding round
Row 44, a Westlake Village-based company that provides wireless Internet on commercial airlines, announced Sept. 8 that it had closed a $37 million round of private financing. The new Series B round brings Row 44’s venture capital total to more than $60 million since 2008. “This investment gives Row 44 the operating capital to continue Read More →
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By Staff Report / Tuesday, September 7th, 2010 / Latest news / Comments Off on Financial crisis inquiry underway in Bakersfield
The federal Financial Crisis Inquiry Commission is meeting in Bakersfield for a Sept. 7 hearing that will focus on community banks and credit unions and the impact of the financial meltdown on California communities. A live feed of the hearing is available at www.fcic.gov. The FCIC’s vice chairman is Bill Thomas, a former congressman from Read More →
