FORT WORTH – (Realty News Report) – Stillwater Capital is developing Stillwater Crystal Springs, a 386-unit apartment community in Fort Worth.
JLL Capital Markets arranged both equity and financing for the project. Working on Stillwater Capital’s behalf, the JLL team secured an equity investment from CrossHarbor Capital Partners. JLL also placed a 40-month floating-rate construction loan provided by Texas Capital Bank.
Stillwater Crystal Springs will occupy an approximately 7.5-acre site at 5336 White Settlement Rd., along the Trinity River in Fort Worth’s River District, about three miles west of downtown.
Construction has begun, and the development—scheduled for completion in 2022—will include studio, one- and two-bedroom apartments totaling 308,250 square feet.
The JLL Capital Markets team representing the borrower was led by Senior Director De’On Collins.
“The site’s distinctive topography allows for elevated amenity decks and spectacular views,” said Stillwater Partner Clay Roby. “With direct access to the Trinity Trail, the project responds to growing demand for denser, walkable developments designed with community connectivity in mind.”
June 22, 2020 Realty News Report Copyright 2020