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| Stillwater Crystal Springs, a 386-unit, Class A+ apartment community in Fort Worth, TX |
DALLAS, TX, June 23, 2020 – JLL
Capital Markets announced today that it has arranged equity and financing for
the development of Stillwater Crystal Springs, a 386-unit, Class A+
apartment community in Fort Worth, Texas.
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| De’On Collins. |
The JLL team worked on behalf of Stillwater Capital (“Stillwater”)
to arrange an equity investment from CrossHarbor Capital Partners.
In addition,
the team also assisted Stillwater by placing 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 approximately 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 square feet.
Planned community amenities include an elevated
amenity deck, resort-style pool, courtyard with outdoor lounge area and fire
pit, expansive coworking space, dog park, bike storage, fitness center,
controlled building access and garage parking.
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| Clay Roby |
“We are excited to bring a high-quality project to the River
District area of Fort Worth,” said Stillwater Partner Clay Roby. “The
unique topography of the site provides an opportunity for elevated amenity
decks and incredible views.
"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.”
For more news, videos and research resources on JLL, please visit
the firm’s U.S. media center Web page: U.S. newsroom.
Deal secured by Holliday
Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019.
Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
CONTACT:
Kimberly
Steele
JLL Senior Associate
Public Relations
Phone: +1 713 852 3420
Email: Kimberly.Steele@am.jll.com
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