Daily Business Report-Oct. 15, 2019
Rendering of Palatine Bankers Hill, a development of INI Greenfield, San Diego-based developer.
INI Greenfield obtains $15.1 million loan
to build luxury condominiums in Bankers Hill
INI Greenfield, a development company based in San Diego, has obtained a $15.1 million loan arranged by JLL for the development of Palatine Bankers Hill, a five-story, 16-unit luxury condominium project at 2750 Fourth Ave. in Bankers Hill.
JLL worked on behalf of the developer to arrange the one-year, floating-rate construction loan through a New York City-based debt fund.
Palatine Bankers Hill is due for completion in early 2020. The property will consist of 16 for-sale residential units, 1,121 square feet of ground-level commercial space and 38 subterranean and grade-level parking spaces.
Residences will include a mix of two-, three- and four-bedroom layouts that will feature luxury finishes, including Turkish stone tile and hardwood flooring, quartzite countertops, sustainable wood cabinetry, Miele appliances, large private terraces, customizable closet systems, ThermoPad thermostats, automated Lutron lighting, keyless entry and electric car charging stations.
The JLL Capital Markets team representing the developer was led by Director Chris Collins and Analyst Brad Vansant.
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Center for Future Surgery expands
at UC San Diego School of Medicine
The idealplace to learn surgery is in an operating room — one without a patient. Welcome to the Center for the Future of Surgery (CFS) at University of California San Diego School of Medicine, one of the few facilities in the world dedicated to safely teaching surgery in high-tech simulated operating rooms. Here, surgeons refine their skills without risk to patients. In Fall 2019, UC San Diego School of Medicine expanded the center to address the newest surgical trends, especially those benefitting the brain and nervous system.
“The expansion of the Center for the Future of Surgery demonstrates UC San Diego’s continued and absolute commitment to patient safety,” said Dr. Santiago Horgan, CFS director. “The center offers surgeons of all specialties a rare opportunity to train on the newest techniques and technologies outside of a live operating room. This is where the next generation of surgeons is acquiring hands-on knowledge and experience to provide patients with the best, safest operations possible.”
The 22,000-square-foot center has added two one-of-a-kind training spaces: a new hybrid operating room and a microsurgical suite. The new spaces allow for training in highly specialized areas, such as interventional endovascular surgery involving delicate procedures to stop brain hemorrhages, repair arteries, reconstruct facial nerves and restore hearing.
“The Center for the Future of Surgery is now the largest, most comprehensive training facility in the U.S.,” said Horgan, who also serves as chief of minimally invasive surgery at UC San Diego School of Medicine. “This is where we develop and evaluate new surgical techniques and devices with the ultimate goal of providing the highest level of care for patients — less pain, quicker recoveries and better outcomes.”
“The center is an extraordinary space that gives surgeons — from residents to established surgeons — an opportunity to achieve their highest level of skill. The expansion, both in terms of the design of its physical space and implementation of technologies, reflects the emerging needs of surgeons, radiologists, cardiologists, and other experts,” said Dr. Bryan Clary, surgery chair at the School of Medicine. “The training rooms are designed with the newest imaging platforms and surgical instruments, including technologies so new they have not yet reached all U.S. hospitals.”
The hybrid operating room represents a confluence of multiple technologies from intraoperative imaging to 3D scanning capabilities. One wall of the room — the “wall of knowledge” — is paneled with an interactive computer touch screen as tall and wide as the room. It displays an array of integrated data sources, including medical records and CT and MRI scans. The high-fidelity space is designed to improve surgeons’ technical skills, psychomotor skills, hand-eye coordination and ambidextrous surgery.
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Newsom’s first rodeo: In year one,
the governor bucks both Trump and Brown
CALmatters
Californians will soon be allowed to eat roadkill but be prohibited from buying fur coats. Abortion pills will become available on college campuses, but tiny bottles of shampoo will be banned from hotel rooms. High school and middle school kids will get a later first bell, but schools won’t be forced to give kindergarteners a full-day program.
Democratic Gov. Gavin Newsom signed and vetoed the year’s final batch of legislation Sunday night, making decisions that will shape California in ways big and small. His choices during his first year as governor largely reflect Newsom’s progressive vision for the state. But they also offer a window into how he approaches his role as a leader — not only of California, but of the broader “resistance” movement opposed to Republican President Donald Trump.
Click here to see a few things Newsom revealed as he made his way through 1,042 bills the Legislature sent him this year.
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Sempra Energy announces agreement
to sell Chilquinta Energía in Chili
Sempra Energyannounced that it has entered into an agreement to sell its equity interests in its Chilean businesses, including its 100 percent stake in Chilquinta Energía S.A. (Chilquinta Energía), to State Grid International Development Limited (SGID). Sempra Energy’s interests will be sold for $2.23 billion in cash, subject to adjustments for working capital and net indebtedness and other adjustments. The sale also will include Sempra Energy’s 100 percent interest in Tecnored S.A., which provides electric construction and infrastructure services to Chilquinta Energía and third parties, and its 50 percent interest in Eletrans S.A., which owns, constructs, operates and maintains power transmission facilities.
The announcement follows Sempra Energy’s agreement to sell its equity interests in its Peruvian business, including its 83.6 percent stake in Luz del Sur S.A.A., to China Yangtze Power International (Hongkong) Co. Limited.
In combination, these transactions would conclude Sempra Energy’s planned sale of its South American businesses for combined proceeds of approximately $5.82 billion in cash, subject to adjustments and satisfaction of their closing conditions.
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Smart City Networks finishes fiber optics
project at San Diego Convention Center
Smart City Networks, aprovider of technology services for the convention industry, recently completed an enhanced fiber optics project at the San Diego Convention Center (SDCC) that now gives clients the opportunity for more bandwidth.
As part of the contract with the San Diego Convention Center Corp., Smart City designed, procured, and managed the entire project. The upgrade will allow Smart City to pass more bandwidth to exhibitors. Smart City financed the project with its allotted technology fund, which enables them to upgrade equipment and keep up with technology throughout the life of a contract.
In this upgrade, category 6 cable and fiber optic cable were added to 234 floor boxes in Halls A, B, and C. This will allow for the installation of high-speed Internet connections to exhibitor booths without dropping cables from the catwalks above, preserving the aesthetics for the event producer.
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Cubic and Google Pay enable
transit cards for android phones
Cubic Corporation said its Cubic Transportation Systems business division signed an agreement with Google to integrate contactless transit cards with Google Pay, making it fast and easy for travelers to use their mobile phones to pay for their journeys.
The collaboration also provides transit agencies using Cubic’s revenue management systems with the full benefit of Google’s user experiences to increase convenience and encourage ridership. The rollout of this technology will open the door for further enhancement of the contactless payment technology already available in cities such as London, New York and Miami, the company said.
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General Atomics awarded contract for manufacture
of Hypersonix Glide Body prototypes
General Atomics Electromagnetic Systems has been awarded a contract from Dynetics Technical Solutions (DTS) for the manufacture and production of subassemblies for the Common Hypersonic Glide Body. General Atomics will provide cable, electrical, and mechanical manufacturing to support DTS’ three-year contract award from the U.S. Army Hypersonic Project Office, part of the Army Rapid Capabilities and Critical Technologies Office, to produce 20 prototype glide bodies with an option for additional quantities.
General Atomics will manufacture its portion of the glide bodies at its San Diego, Huntsville, Ala., and Tupelo, Miss. facilities.
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Reliant Funding releases guide
for women business owners
To celebrate National Women’s Small Business Month, Reliant Funding released its comprehensive guide for businesswomen. The guide’s purpose is to serve as an all-in-one resource for female small business owners to support their development and growth.
“The Complete Women Business Owner Resource Guide” includes a versatile set of information including resources on small business certification, advice on human resource matters, an overview of available funding tools and guidance from trailblazing women leaders. Some of the guide’s contributors include Jeanette Armbrust, board chair of the National Association of Women Business Owners, Rieva Lesonsky, president and Founder of GrowBiz Media and more.
The release of this guide follows the company’s announcement regarding its partnership with the National Association of Women Business Owners (NAWBO) organization. As a part of the partnership, Reliant Funding is providing its qualified customers an annual membership to the organization in order to bring awareness to the importance of having access to networking as well as capital to grow a successful business.
To access the guide, click here
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EvoNexus expands to Silicon Valley
EvoNexus, Southern California’s most successful technology startup incubator, has expanded to Silicon Valley with the opening of a Fintech Incubator, with founding sponsor Franklin Templeton. The new incubator will be housed at a 13,000 square-foot facility in San Mateo on Franklin Templeton’s campus, about 20 miles south of San Francisco. The Silicon Valley incubator, like the other EvoNexus locations in San Diego and Orange County, is a non-profit organization. Startups admitted into the Fintech program will each receive $150,000 (SAFE) in seed funding from Franklin Templeton. The grand opening celebration will take place on October 15th at the new incubator.
