Daily Business Report: February 7, 2024
273-unit Pulse Millenia apartment community
in Otay Ranch, Chula Vista sells for $116 million
JLL Capital Markets announced that it closed the $116 million sale of and the $71.842 million acquisition financing for Pulse Millenia, a 273-unit, garden-style multi-housing community located in the Otay Ranch region of Chula Vista. Pulse was the first apartment community constructed as part of the $4 billion Millenia Master Plan within Otay Ranch.
JLL worked on behalf of the seller, Northwestern Mutual. JLL also worked on behalf of the new owner to secure the seven-year, fixed-rate loan through Freddie Mac Multifamily. The loan will be serviced by JLL Real Estate Capital LLC, a Freddie Mac Optigo lender.
Built in 2016, Pulse offers one-, two- and three-bedroom floor plans averaging 970 square feet. Community amenities include a central sundeck plaza with a heated pool and spa, a 24-hour fitness center, a social lounge with a billiard table and kitchen, a multi-station business center, a conference and private dining room, a multi-sport/bocce ball court, barbecue grilling stations and more.
The JLL Capital Markets Investment Sales Advisory Team was led by Managing Director Kip Malo. Executive Managing Director Charles Halladay, Managing Directors Annie Rice and Brandon Smith and Senior Director Rick Salinas led the JLL Capital Markets Debt Advisory Team.
Photo: Pulse Millenia is located at Situated at 2043 Artisan Way in the Otay Ranch section of Chula Vista. (Photo courtesy of JLL Capital Markets)
Know Your Rights Symposium set for March 9
The San Diego County Commission on the Status of Women and Girls announced its first Know Your Rights Symposium, a half-day event aimed at educating women about their legal rights. The Know Your Rights Symposium will feature expert speakers from legal service providers who will delve into the critical topics of employment, housing, health care and immigration.
The symposium will take place on Saturday, March 9, 2024, at the Southeastern Live Well Center – Tubman Chavez Center, 5101 Market St. in San Diego, 92114. The event, which runs from 9 a.m. to 1 p.m. with registration starting at 8:30 a.m., is open to women and girls throughout San Diego County.
For more information about the Know Your Rights Symposium and the San Diego County Commission on the Status of Women and Girls, visit https://www.sdstatusofwomenandgirls.org/
Researchers unveil new approach to flip the script on drug addiction
By Jade Griffin and Miles Martin | UC San Diego
Scientists at the University of California San Diego are working to flip the script on drug addiction with a $1.3 million grant from the W.M. Keck Foundation. Their new approach, called negative feedback chemogenetics, works by leveraging the body’s biochemical feedback processes to disrupt pathways in the brain associated with drug addiction.
“We’re essentially asking what would happen if, instead of a drug making you want more and more of that drug, we could encourage the opposite effect, which would make it much more manageable for people to abstain,” said Scott Sternson, a professor in the Department of Neurosciences at UC San Diego School of Medicine. Sternson is principal investigator on the grant.
California Western School of Law top ranked
in diversity and International and Technology Law
In the Winter 2024 edition of The National Jurist’s pre-Law magazine, California Western School of Law (CWSL) was ranked among the top schools in the country providing a strong, supportive environment for students from diverse backgrounds. CWSL was ranked as the 4th best school in the nation for Hispanic students and the 13th best for Asian students.
In this issue, The National Jurist also identified California Western School of Law as one of the top schools in the country for International Law and Technology Law, giving it an A+ and A ranking, respectively.
Bob Brower to retire as president of Point Loma Nazarene University
Bob Brower, president of Point Loma Nazarene University for more than two and a half decades, announced his intention to retire in summer 2024. He was elected 14th president of the university in October 1997.
During his tenure, PLNU’s enrollment has more than doubled to 4,546 students and the university has expanded to five campus locations for undergraduate and graduate programs.
With record enrollments and finances, the establishment of strategic and master campus plans, and the foundations for continued growth and development, Brower indicated to the Board of Trustees that, “This is the right and best time for PLNU to move forward with a transition in leadership to continue serving the educational needs of current and future students.
Bailey J. Mezan joins Higgs Fletcher & Mack law firm
Bailey J. Mezan has joined Higgs Fletcher & Mack’s Transportation Law Practice Group.
Mezan earned her law degree from the University of San Diego School of Law in May 2023. She subsequently gained experience in civil litigation primarily on employment cases. While in law school, in addition to holding several clerkships at prominent law firms, Mezan served as a judicial extern for Magistrate Judge Jill Burkhardt at the United States District Court for the Southern District of California. She also held a law clerk position with the San Diego office of Disability Rights California in the Civil Rights Practice Group.
Prior to earning a law degree, Mezan earned a Bachelor of Arts degree from the University of California, Santa Cruz.
General Atomics conducts demonstrations with Air Force
During a series of demonstrations in December 2023, General Atomics Aeronautical Systems, Inc. (GA-ASI) and the U.S. Air Force Special Operations Command (AFSOC) worked collaboratively to execute several capability demonstrations as part of the Adaptive Airborne Enterprise concept development. The first demo featured the simultaneous control of three MQ-9A remotely piloted aircraft by a single crew. ARCS adds additional capability to the Ground Control Station by allowing a standard crew to control multiple UAS platforms.
ESET’s Ryan Grant named a CRN Channel Chief
ESET, a global leader in digital security, announced that CRN, a brand of The Channel Company, has recognized Ryan Grant, vice president of sales for ESET North America, on its 2024 Channel Chiefs list. This list showcases the top IT channel vendor and distribution executives whose exceptional leadership and influence are driving innovation and growth in the IT channel industry, setting the channel agenda for their companies, and enabling sustained success for their partners.
CSL and Arcturus Therapeutics announce study results
Global biotechnology leader CSL and San Diego-based Arcturus Therapeutics, announced the successful results of a follow-up analysis of a Phase 3 study evaluating a booster dose of ARCT-154, the world’s first approved self-amplifying messenger RNA COVID1-9 vaccine, compared to a conventional mRNA COVID-19 vaccine.
New attractions coming at SeaWorld San Diego
SeaWorld is turning 60 this year, and to celebrate, the world-class parks are throwing a party and marking the occasion throughout the year with all-new themed rides and attractions, including a new attractions at SeaWorld San Diego: “Jewels of the Sea: The Jellyfish Experience, ” and “Shamu and Crew — Together Again.” There also will be limited-edition ffood and beverage offerings, collectibles and exclusive memorabilia.
DirectMed Imaging unifies with Technical Prospects
DirectMed Imaging, the premier supplier of aftermarket medical imaging parts, systems, and training, announced that Technical Prospects, the company it acquired in August 2023, will now fully join forces under the DirectMed Imaging name. By unifying the two companies, customers will benefit from a single contact for all GE, Siemens and Philips parts, expanded technical expertise, more parts and inventory locations, as well as enhanced training and support.
Element Biosciences and IDT bolster partnership
Life sciences companies Integrated DNA Technologies (IDT) and San Diego-based Element Biosciences Inc. have bolstered their partnership with products to enable more efficient and streamlined next generation sequencing (NGS) workflows for users of the AVITI System, an innovative sequencing and multi-omics platform based on Element’s novel avidity base chemistry. Integrated DNA Technologies is based in Coralville, Iowa.
Scale Biosciences unveils platform for scaling of single-cell experiments
Scale Biosciences announced its development of a new two plate workflow to enable dramatic scaling of its technology to improve ease of use and enable the deployment of their portfolio across new omics applications. The new platform, announced at the 2024 Advances in Genome Biology and Technology general meeting held Feb. 5-8 in Orlando, Fla., allows researchers to prepare sequencing-ready single-cell libraries of up to 2 million cells in a experiment and reduces the plates needed from three to two.
National Resilience and Taiwan Bio-Manufacturing announce partnership
National Resilience Inc., a technology-focused biomanufacturing company dedicated to broadening access to complex medicines, and Taiwan Bio-Manufacturing Corporation (TBMC), announced a groundbreaking joint venture which aims to transform the biomanufacturing industry. This collaboration addresses the growing need for technology-enabled, end-to-end solutions for complex medicines. Resilience will license certain manufacturing technology platforms in all five of its therapeutic modalities to TBMC.
Vektor Medical secures $16 million in Series A funding
Vektor Medical, a pioneer in non-invasive, AI-based arrhythmia analysis technology, announced a $16 million Series A investment co-led by Solas BioVentures and TVM Capital Life Science. This funding underscores investor confidence in Vektor’s vision and ability to successfully execute its mission to revolutionize arrhythmia care. Funding will support the commercialization of vMap, Vektor’s AI-based arrhythmia analysis tool, which is transforming how EPs approach ablation procedures.
Toku announces success for it CLAir technology
Toku Inc., a commercial medical device company specializing in AI assessment of retinal images, announced that it has obtained CE and UKCA Marks for its patented CLAiR technology. This milestone underscores Toku’s commitment to maintaining the highest standards of quality and safety and allows access to the Europe and UK markets. CLAiR provides accurate, affordable, non-invasive evaluation for the risk of cardiovascular disease at the point of care using retinal images captured during a routine eye exam.
