PHOENIX, AZ – Watermark Residential, a wholly owned affiliate of Thompson Thrift and one of the nation’s leading multifamily developers, announced the acquisition of 10 acres of land in the Phoenix suburb of Gilbert, Ariz. The company will develop The Wyatt by Watermark, a $43 million Class A garden-style multifamily community on the land with an expected completion date of late 2021.
Located at 1205 South Gilbert Road, the site conveniently sits at the core of thriving downtown Gilbert, within walking distance to numerous high-end retail shops and restaurants and only a small drive to the entertainment and dining options available at Gilbert Heritage District and San Tan Village.
“According to data from the National Multifamily Housing Council, the greater Phoenix area needs 11,000 new apartments per year to meet demand,” said Josh Purvis, managing partner of Watermark Residential. “Watermark Residential looks forward to helping fill the need for quality housing options with one of our innovative and aesthetically pleasing apartment communities.”
The Wyatt by Watermark will consist of 216 one-, two- and three-bedroom apartment homes averaging 978 square feet. The apartment homes will feature upgraded finishes including gourmet bar-kitchens with granite countertops, stainless steel appliance packages, walk-in closets and full-size washers and dryers. Community amenities will include a clubhouse, 24-hour fitness center with state-of-the-art equipment, a resort-quality swimming pool with cabana and pet-friendly “bark park” and doggie spa.
Residents will delight in simple access to the 202 loop with the ability to reach all four of Gilbert’s major employment centers within 20 minutes. Additionally, the site is located within the Gilbert Public School District, the 4th Best School District in America, according to the National Council for Home Safety and Security.
Gilbert has experienced a population increase of 20 percent during the past decade and growth is expected to continue at double the national average over the next five years. In addition, the Phoenix suburb has been recognized for many awards recently including:

3rd Most Livable City in the U.S., according to SmartAsset
6th Safest City in the U.S., according to WalletHub
Arizona’s Fastest Growing City, according to WalletHub

The Wyatt by Watermark is the third of six to be funded by the Watermark 3G Development Fund II, which closed in late 2019. In addition, it will be the second multifamily community for Watermark in Gilbert, who also owns the 250-unit Watermark at Gateway Place.

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ST AUGUSTINE, FL – West Shore, a fully integrated multifamily real estate investment firm, announced the acquisition of Isla Antigua, a unique 249-unit apartment community located in St. Augustine, Florida. The addition of this asset marks West Shore’s 29th acquisition and its 13th in the state of Florida. The company’s expanding national footprint now includes 27 residential properties with 8,361 apartment units and well over $1 billion in assets under management.
“We are excited to further expand our footprint in Florida with this remarkable asset in St. Augustine,” said West Shore Chairman Steven P. Rosenthal. “The acquisition of Isla Antigua is a fantastic example of our real estate investment strategy.”
Isla Antigua, located at 655 West Marina Cove Drive, has over 850 feet of Intracoastal Waterway frontage in St. Augustine, FL, and is the only multifamily asset built on Anastasia Island since 1984. The newly constructed community is in an ideal location with quick access to retail, entertainment, historic Downtown St. Augustine, and the city’s largest job centers. The property’s unique waterfront outdoor amenities include a resort-style pool with private cabanas, an outdoor kitchen with grilling and dining areas, a sunset beach retreat with fire pit lounges, and a private dock with a kayak launch system. The grand clubhouse features billiards, game, and media rooms, a full business center, and a professional fitness club that includes interactive cardio equipment, a yoga and spin studio, and an indoor rotating rock-climbing wall. The community’s apartments boast breathtaking waterfront views and open concept floor plans with modern kitchens, high-end finishes, oversized closets, and private balconies.
“Isla Antigua is a very valuable addition to our growing portfolio,” said Lee Rosenthal, President of West Shore. “We are proud of our expansion in Florida and we expect to continue our significant growth both in Florida and nationally as well.”
In addition to Isla Antigua, West Shore’s other multifamily properties in Florida include: Grande Oasis at Carrollwood in Tampa, Deerwood Village in Ocala, The District at Clearwater in Clearwater, The Point at Naples and Belvedere at Quail Run in Naples, Savannahs at James Landing and Veridian Townhomes in Melbourne, and Live Oaks at Killearn, 2305 at Killearn, and The Greens at Ancient St. Augustine in Tallahassee.

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DALLAS, TX – Capital Investments, a leading Dallas-based developer, announced the start of construction on Stillwater Crystal Springs, a 387-unit, Class-A+ apartment community in Fort Worth, Texas. Stillwater is partnering with Boston-based CrossHarbor Capital Partners on the project. The first units are scheduled to be delivered in early 2022 and will consist of studio, one-, and two-bedroom units.
Stillwater Crystal Springs is situated on 6.85 acres along the West Fork Trinity River in The River District, a 287-acre master plotted neighborhood approximately three miles west of downtown Fort Worth. The historic neighborhood allows for simple access to major thoroughfares and is just minutes from West 7th, Magnolia Street, and downtown. The neighborhood is home to a variety of Fort Worth staples including Heim Barbecue, Tim Like’s Gemelle, Salsa Limon, Flowers on the Square, and is just minutes from Lockheed Martin’s regional facility at the Naval Air Station Joint Reserve Base.
The project is named after its predecessor, the Crystal Springs Dance Pavilion, which was home to a well loved dance hall and swimming hole from 1930 to 1966, famously known as the birthplace of Western Swing. The country music venue was a well loved destination and featured such performers as Bob Wills and Milton Brown, with reported guests such as the infamous Bonnie Parker and Clyde Barrow.
“We are excited to bring a high-quality project to the up-and-coming River District neighborhood,” 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.”
The development will offer a best-in-class set of community amenities including an elevated amenity deck with a resort style pool, courtyard with outdoor lounge area and fire pit, expansive coworking space, a dog park, bike storage, fitness center, Wi-Fi in all common areas, controlled building access, and garage parking. Each unit will feature stainless steel appliances, quartz countertops, custom cabinetry, faux wood floors, and modern finishes.
The community is the initial phase of a mixed-use development consisting of restaurants, office, and retail centered around an activated green space. The project’s thoughtful design will capture the unique history of the site and will provide multifamily residents with a uniquely Fort Worth experience.

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