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CRE: Hotel occupancy up, calls for housing intensifies | Pacific Coast Business Times

By Staff Report Visit Santa Barbara, the destination marketing organization for the Santa Barbara South Coast region, presented hotel performance data for March 2024 on April 19. According to the data, which is generated by STR, an independent hospitality data analytics company, the Santa Barbara South Coast hotel occupancy increased 7% in March 2024, compared

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Portfolio watch | Pacific Coast Business Times

Don’t obsess too much over Fed policy and inflation levels writes Mitch Zacks of Zacks Investment Management, adding that “it’s clear in the current environment that the Fed believes policy is sufficiently restrictive, meaning there’s no expectation that interest rates will go any higher.” With the economy growing and labor markets strong the current period resembles the period from 1950-22 when inflation was running at 3% to

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Feds reject long-proposed fracking near Fillmore | Pacific Coast Business Times

An oil well in the Sespe Oil Field. (courtesy photo) Two federal agencies have turned down a decade-old proposal to drill and frack eight new wells in the Sespe Oil Field in Los Padres National Forest north of Fillmore. Jeff Kuyper, executive director of environmental group Los Padres ForestWatch, hailed the denial of the project,

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805 Law: Santa Barbara property manager ordered to pay over $2M | Pacific Coast Business Times

A Santa Barbara County real estate broker who pleaded no contest to embezzlement was sentenced April 18 to five years probation and 30 days in jail. Adam Pirozzi, 42, was also ordered to pay a $1.06 million fine and $1.27 million in victim restitution. Pirozzi owned Santa Barbara Property Management, a company responsible for managing various apartment

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Our view: Marine Sanctuary accord advances offshore wind | Pacific Coast Business Times

Wind and water do not always mix well. But an agreement between the Northern Chumash Tribal Council and developers of the proposed wind farm off Morro Bay have reached an agreement that will allow the project to go forward. The deal defines the boundaries for the new marine sanctuary off the Central Coast and protects Chumash

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CRE: Oxnard shopping center snatched up by LA investment firm for $90M

A photo of all the retail stores at the Oxnard Shopping Center. (courtesy photo) By Staff Report The Esplanade Shopping Center located in Oxnard has sold for $90 million, according to an April 8 press release. Primestor Development, a leading minority-owned real estate development and investment firm based in Los Angeles, purchased the 357,000-square-foot grocery-anchored

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FDA gives nod to Affinity Biosensors' flagship product | Pacific Coast Business Times

Affinity Biosensors, a Santa Barbara-based healthcare diagnostics company, announced April 3 that its flagship LifeScale AST system has received FDA clearance. The company said that the FDA’s approval was a milestone that clears the way for healthcare professionals to begin using an important tool for managing bacteremia by providing antibiotic susceptibility test (AST) results with

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Portfolio watch | Pacific Coast Business Times

Buybacks could play a role in the S&P 500’s performance over the next 18 months. Goldman Sachs Research writes that companies in the S&P 500 will likely buy back $925 billion in stock in 2024, up from an earlier estimated $840 billion, thanks in part to “stronger than expected growth in earnings and margins.” That’s especially true

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Briq adds another $8 million in extension round | Pacific Coast Business Times

The Santa Barbara headquarters of Briq, a cloud software firm for construction companies to manage their finances. (courtesy photo) Santa Barbara-based construction startup Briq raised another $8 million in an extension round to help the company gain a $150 million valuation in 2024. This comes after the construction startup raised $30 million in a Series

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CRE: Santa Barbara County DA's office warns of vacant lot listing scams

By Staff Report Santa Barbara County District Attorney John T. Savrnoch warned the public about a fraudulent scheme of fake listings of vacant land for sale in the community. According to an April 2 press release, since September 23, the county DA's Real Estate Fraud Unit has become aware of several attempts to fraudulently list

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