June 24, 2020 Comments (0) Views: 352 Dallas-Fort Worth, Texas News

Stillwater Secures Debt and Equity on Fort Worth Development

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JLL Capital Markets arranged equity and financing for the development of Stillwater Crystal Springs, a 386-unit, Class A+ apartment project in Fort Worth’s River District. The firm’s De’On Collins led a team representing the borrower, Stillwater Capital.

Collins’ team worked on Stillwater’s behalf to arrange an equity investment from CrossHarbor Capital Partners. The team also assisted Stillwater by placing a 40-month, floating-rate construction loan from 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. 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.

“The unique topography of the site provides an opportunity for elevated amenity decks and incredible views,” said Stillwater partner Clay Roby. He added, “The project will also address increasing demand for developments that promote density and walkability.”

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