This Week's Dallas-Fort Worth Deal Sheet
Construction is moving quickly on ELM’s new 125K SF headquarters and manufacturing facility in The Colony.
The company, which produces microgrid systems, plans to use the new HQ to expand its energy storage and management capabilities, according to a news release. ELM MicroGrid specializes in the capture and storage of energy for use in commercial and industrial applications. ELM Solar is also relocating to the new HQ.
“The work of ELM’s engineers and technicians are vital to energy resilience and cost savings for operations across multiple applications," Mayor Richard Boyer said in a statement. "We are very proud to welcome them to The Colony, and we look forward to their future expansion and ongoing innovation."
In addition to the 35 staff members who will move from ELM's current 25K SF facility in Lewisville, the company predicts it will need to hire 65 more employees to fill engineering and manufacturing positions, per the news release.
Construction is expected to be complete later this year.
PEOPLE
TruAmerica promoted Ammanuel Metta to managing director of acquisitions. Metta, a 20-year veteran of the CRE industry with more than 15 years of experience in multifamily investment, joined the firm in 2020. In his new role, Metta will focus on TruAmerica’s Texas and Midwest acquisition and growth strategy.
Trademark Property Co. hired Sunny Patel to lead the company’s new mall advisory business as senior vice president of institutional services and investments. With more than 15 years of retail and mixed-use real estate experience, Patel will oversee the sourcing of investments, institutional joint ventures and service relationships.
***
Mohr Capital added Roger Snell as chief strategy officer. He is responsible for developing new investment verticals and leading capital market relationships and joint ventures. Prior to joining Mohr Capital, Snell served as chief investment officer and board member of Veritas Investments.
***
Streetlights Residential promoted Andrew Kastanos, Case Killgore and C.J. Cacheris to chief financial officer, president of development and president of design-build, respectively. Kastanos, who previously served as senior vice president of finance, is responsible for all debt and equity capital markets as well as capital relationship management. Killgore, who previously served as senior vice president of development, will oversee the company’s development efforts across the country. Cacheris, who served as senior vice president of design-build, will oversee the vertically integrated organizational structure of the core architectural, interior design and construction business units.
LEASES
Lone Star Event Rentals leased 12K SF of warehouse space in Bickham Industrial Park, 10312 Bickham Road in Dallas, from Bickham EPA. Jason Finch, first vice president of Bradford Commercial Real Estate Services, and Michael W. Spain, executive vice president and managing partner, represented the landlord.
SALES
Greysteel arranged the sale of Villa Gardens, a 142-unit multifamily property in Farmers Branch. Senior Managing Director Doug Banerjee, Managing Director Jack Stone, Director Andrew Mueller and associate Sterling Warren of Greysteel’s national multifamily team negotiated the transaction on behalf of both the buyer and the seller. The buyer, KeyCity Capital, was able to assume a Fannie Mae loan with more than five years remaining at a fixed rate below 4%. It plans to renovate units as they turn over.
***
Reserve Capital Partners, in partnership with Trinity Investors, has purchased Crestview Tower at 105 Decker Court in Irving from CapRidge Partners. The new owner, which retained Stream Realty Partners’ Tim Terrell and Rhett Miller as leasing agents, plans a multimillion-dollar renovation to the building, which will be spearheaded by Entos Design. Financing for the remodel was provided by Jonathan Ferrell, senior vice president for commercial real estate at Southside Bank.
THIS AND THAT
Arlington-based Dodson Commercial Real Estate has rebranded to Street Realty and will soon relocate its headquarters to a newly acquired building at 3909 Hulen St. in Fort Worth. The firm has several projects currently in the works, including the development of West Loop Business Park in White Settlement and the continued redevelopment of Urban Union in Downtown Arlington. The firm plans to focus on projects in Tarrant County.
