This Week's Dallas-Fort Worth Deal Sheet
Elite Advanced Polymers has joined a league of companies leaving their home states for Texas. The company, which specializes in polymer compounding, will relocate its headquarters to Plano as it expands its national presence.
The company noted the Metroplex’s strong talent pipeline as one of the reasons for the move. The new HQ will be located at 5717 Legacy Drive, according to Dallas Innovates.
Elite named a new CEO in December. Seiichiro “Ichiro” Araki will oversee Elite’s operations, including its manufacturing facility in Ripley, Mississippi, and its expansion efforts across the country.
“We are excited to have Ichiro join Elite’s management team to spearhead the strategic initiatives we have lined up for the near future and lead the company’s expansion efforts,” Murli Nathan, the company’s current executive chairman and former CEO, said in a statement.
Araki comes to Elite from DestinHaus Capital, where he oversaw the company’s operations in Japan and was part of the investment team that conducted the acquisition of Elite in February 2021, according to Elite.
PEOPLE
Next-generation connectivity platform Aerwave named Jeffrey Kok as its new chief operating officer. Daniel Jensen, current COO and co-founder, will become the company’s chief revenue officer. Kok will lead the overall operations of Aerwave, with a particular focus on product, project implementation and network operations at scale. He comes to Aerwave from Mill Creek Residential, where he served as chief information officer and chief innovation officer for the rental community developer and operator.
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Canada-based real estate investment firm Trez Capital named John Hutchinson as its new vice chairman. Hutchinson, who is based in Dallas, will continue to serve as global head of origination, responsible for overseeing the company’s commercial real estate lending business across North America. The firm is celebrating 10 years at its Dallas office this year.
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Dallas-based Stream Realty Partners plans to launch an Industrial Capital Markets division. The national real estate services, development and investment company has named Matteson Hamilton and Seth Koschak to lead the effort as executive managing directors and partners in Texas. Hamilton currently serves as managing director and partner for the firm’s Houston office. Koschak currently serves as managing director and partner at Stream’s DFW office. The pair bring 26 years of combined industry experience to their new roles.
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Dallas-based Imaginuity named Angela Sweeney as executive director of Pylot, a marketing technology solution that allows multi-location businesses to launch and manage their digital presence across multiple locations, brands and websites. Sweeney joins the agency from Peterson Cos., where she most recently served as chief marketing officer.
SALES
Jack Gaffney and Keith Bilski with Finial Group facilitated the sale of 9904 South Highway 287 in Rhome. The 6.6-acre plot was purchased by Flagstone Acquisition Co. Finial Group represented the seller.
LEASES
CEX Holdings LLC, an electronics recycling firm, signed a 58K SF lease renewal in Marsh Business Park, 2727 Realty Road, Carrollton. Brian Pafford, executive vice president and managing partner of Bradford Commercial Real Estate Services, represented the landlord, NWP TX TT LLC.
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AllPoints of Texas, a moving and storage company, renewed a 51K SF lease at Trinity West Business Park, 2450 114th St. in Grand Prairie. Jim Ferris, vice president of Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president and managing partner, represented the landlord, William J. Owen Trust and OMO Investment Co. The tenant representative was Bill Biesel of Biesel Investments Inc.
CONSTRUCTION AND DEVELOPMENT
Life Time Frisco opened at 4900 Throne Hall Way in Frisco. The 124K SF luxury athletic resort is the company’s 10th in DFW and will house 220 employees. The building includes a fast-casual café, full-service salon and 30K SF outdoor beach club, in addition to exercise studios, tennis and pickleball courts, and an on-site childcare facility.
FINANCING
Avatar Financial Group provided a $30M bridge loan at a 6.3% rate for the refinance, repositioning and stabilization of CityView Corporate Center, a more than 293K SF, multi-tenant, Class-B office building at 1201, 1255 and 1309 West 15th St. in Plano.
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Thorofare Capital Inc. provided a loan to Quadrant Investment Properties for the refinancing of a 13-building portfolio of newly converted and renovated flex office properties in the Design District. Thorofare’s David Perlman originated the loan. Eddie Prosser, Henry Johnson and Jonathan Hart, also with Thorofare, led the underwriting and closed the financing.
