FORT WORTH – (Realty News Report) – Stillwater Capital is developing Stillwater Crystal Springs, a 386-unit, apartment community in Fort Worth.
JLL Capital Markets arranged equity and financing for the development. The JLL team worked on behalf of Stillwater Capital to arrange an equity investment from CrossHarbor Capital Partners. In addition, JLL placed a 40-month, floating-rate construction loan that was provided by Texas Capital Bank.
Stillwater Crystal Springs will be situated on an approximately 7.5-acre site at 5336 White Settlement Rd. along the Trinity River in Fort Worth’s River District, which is three miles west of downtown.
Due for completion in 2022, the project has broken ground and will consist of studio, one- and two-bedroom units totaling 308,250 SF.
The JLL Capital Markets team representing the borrower was led by Senior Director De’On Collins.
“The unique topography of the site provides an opportunity for elevated amenity decks and incredible views,” said Stillwater Partner Clay Roby. “With direct access to the Trinity Trail, the project will also address increasing demand for developments that promote density and walkability in a thoughtful and community-focused way.”
June 22, 2020 Realty News Report Copyright 2020
