This Week's Dallas-Fort Worth Deal Sheet
Metrocrest Services celebrated the opening of its new headquarters in Carrollton.
The 48K SF facility at 1145 North Josey Lane consolidates operations closer to established need, per the organization’s website. It includes an expanded food pantry and warehouse, a volunteer center and a teaching kitchen.
“The ribbon-cutting is more than a celebration of a building, it is the unveiling of a beacon of hope and support for this community,” Gensler Design Director Justin Bashaw said in a statement. “This new facility for Metrocrest Services stands as a testament to the collective dedication of many individuals to uplift, empower and serve those in need. We are so happy to be a part of a brighter future for those that Metrocrest serves.”
Metrocrest Services assists individuals, families and seniors living in Carrollton, Addison, Farmers Branch, Coppell and the city of Dallas in Denton County. Its previous headquarters was in Farmers Branch.
PEOPLE
Fort Capital promoted Steve Bailey to president of FCP Management, the company’s property management division, which he helped launch after joining the company in 2019.
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Premier hired James Sims as director of architecture. With almost 40 years of industry experience, Sims will oversee Premier’s project delivery strategy, produce high-quality documentation and lead site-planning efforts.
Stream Realty Partners made Matt Dornak a partner. Dornak, a managing director in the firm’s industrial division, has held several roles since joining the company in 2011. He is credited with helping the company grow its industrial portfolio by more than 30M SF, among other accomplishments.
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S2 Capital hired Mark Halford as vice president of special situations. Halford spent a decade with Lone Star Funds where he participated in more than $10B of distressed and opportunistic investing. His work with S2 will target similar acquisitions through the firm’s commingled fund vehicles.
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Rand Construction Corp. hired Brad Carbo as managing director in its Dallas office. Carbo has nearly 20 years of experience in the construction industry, most recently serving as a managing director in JLL’s project and development services division. In his new role, Carbo will lead strategic market initiatives to scale the business while tapping into his commercial real estate industry network.
LEASES
Lee & Associates DFW completed a lease transaction for 12K SF of industrial space at Grove Business Park, 777-797 North Grove Road in Richardson. Jessica Reinhardt and George Tanghongs of Lee & Associates represented the landlord, Dallas North Industrial. Byron McCoy of Younger Partners represented the tenant, English Color & Supply.
SALES
LanCarte Commercial finalized an investment sale of a 50K SF industrial property at 11126 Shady Trail Parkway in Dallas. The property consists of three buildings and 18 units on a nearly 3-acre site.
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BV Capital raised $31M through its Delaware Statutory Trust for the acquisition and renovation of The Dunhill, a 214-unit Class-A apartment community at 1900 Hi Line Drive in the Dallas Design District. The property will be rebranded as The Adelphi.
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GREA sold Casa San Luis Apartments, a 63-unit community at 3155 Park Lane in Dallas. Executive Managing Director Mark Allen represented the seller, Gomel Capital, and procured the buyer, a local investment company.
FINANCING
Red Oak Capital Holdings provided a $2.3M bridge loan to the owner of the 21K SF Templecliff Apartments at 1234 Templecliff Drive in Dallas. The borrower will use the funds to retire an existing mortgage and implement a capital improvement program to increase the property’s value.
THIS AND THAT
The Rainier Cos., a Dallas-based commercial real estate investment firm, launched Rainier Development Co. Operating as an independent entity within the Rainier portfolio, Rainier Development will specialize in retail-driven mixed-use development projects nationwide. To lead this venture, Rainier tapped retail and mixed-use industry veteran David Neher, who will serve as president. Neher most recently headed Lincoln Property Co.’s national retail platform.
