First Foundation Relocates Top Office To Dallas, Says DFW Is New Southern California
Another California-based company is making Dallas-Fort Worth its corporate home after pegging the area as a top spot for future opportunities in wealth management, banking, commercial real estate and multifamily lending and investments.
The new DFW tenant is First Foundation Inc., a financial services firm, which announced plans to grow its presence in Texas with the relocation of its principal office from Irvine, California, to The Crescent in Dallas.
With the executive office slated to sit inside 200 Crescent Court, the firm will be better able to execute its Texas growth strategy, which includes plans for growing its commercial real estate finance activity across the Lone Star State.
First Foundation sees an abundance of opportunities in Texas when it comes to income property financing, bridge loan financing, loan production and multifamily lending.
“The Dallas-Fort Worth area today reminds me of what Southern California was like 30 years ago, where First Foundation started, and for me personally, it is nice to return to Texas as my roots are in the South,” First Foundation CEO Scott F. Kavanaugh said in a press statement.
As it settles into Texas, First Foundation Bank, one of the firm's subsidiaries, intends to hire more local staff and set up a lending team. The bank has already appointed Gary Woods, executive senior vice president and director of commercial real estate production, to lead DFW's growing commercial finance division.