Crestline Investors Closes $56 Million Bridge Loan to Bridgeview Real Estate for 288-Unit Denton Multifamily Community
Crestline Investors, through Crestline Management, L.P., announced Nov. 11 the closing of a $56.0 million senior secured bridge loan to Bridgeview Real Estate, a Dallas-based, vertically integrated real estate investment and development firm. The loan is secured by Woods at Forest Crossing, a 288-unit Class A garden-style multifamily community in Denton, Texas, which Bridgeview developed and delivered in 2024.
Proceeds were used to refinance the property's existing senior debt. The loan is structured to support Bridgeview's plan to place the community into a Housing Finance Corporation (HFC) structure in partnership with the City of Denton, which will restrict a portion of the units to income-qualified households.
Bridgeview Real Estate Bridge Loan Details
The $56.0 million financing equates to approximately $194,444 per unit. The facility is a senior secured bridge loan, and the proceeds went toward refinancing existing debt rather than funding an acquisition.
Woods at Forest Crossing is located at 3755 E. McKinney St., Denton, Texas 76208. Unit sizes range from approximately 731 square feet to 1,316 square feet. Reported floor plans include one-bedroom units of about 731 square feet, two-bedroom units of about 983 square feet and three-bedroom units of about 1,316 square feet.
Advertised rents range from approximately $1,290 to $2,360 per month, depending on floor plan and source. Public listings show one-bedroom units at roughly $1,290 to $1,370, two-bedroom units at $1,640 to $1,670 and three-bedroom units at $2,300 to $2,360.
Comments From Crestline and Bridgeview
"Woods at Forest Crossing is a newly built, well-amenitized community that has leased up quickly in a Denton market anchored by the University of North Texas and Texas Woman's University. As our second transaction with Bridgeview, we are pleased to continue our partnership with their team," said Seb Trujillo, Vice President at Crestline.
"Crestline knew our team and our business plan from our first deal together, and they structured a facility that gives us the flexibility to bring Woods at Forest Crossing to stabilization and complete the HFC process," said Aubrey Ennis, Managing Director at Bridgeview Real Estate.
Housing Finance Corporation Structure in Denton
Under the planned HFC structure, a portion of the community's units would be restricted to income-qualified households in partnership with the City of Denton. For Bridgeview, the structure could provide an alternative source of longer-term financing and align the property with Denton's need for additional income-restricted housing, while the bridge facility provides Crestline secured exposure to a recently delivered asset as the sponsor pursues the affordability and refinancing strategy.
Denton Multifamily Market Context
Denton's multifamily market has a sizable supply pipeline. A City of Denton document cited existing inventory of approximately 26,500 units plus 5,907 units in predevelopment or under construction, for a projected total pipeline of 32,407 units. The same document cited market vacancy estimates ranging from 12.8% to 19.9% and average rent of approximately $1,420, down 6.1% year over year.
Other market data point to continued demand. Cushman & Wakefield reported that the Denton submarket recorded 1,671 units of demand in the second quarter of 2026, while stabilized Dallas-Fort Worth multifamily vacancy improved to 9.6%, down 30 basis points from the prior quarter. Denton's second-quarter vacancy was 9.4%, with average effective rent of $1,358 per unit, or $1.47 per square foot.
Woods at Forest Crossing is near the University of North Texas and Texas Woman's University, which anchor the Denton market.
About Crestline and Bridgeview
Crestline is a global alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Tokyo and Toronto. The firm has approximately $18 billion of credit assets under management as of June 30, 2026, including its capital solutions, direct lending and portfolio finance platforms. Crestline operates as part of Rithm Capital Corp. (NYSE: RITM).
Bridgeview Real Estate was founded in 2011 and is headquartered in Dallas. The firm focuses on multifamily and mixed-use properties across Texas, with in-house capabilities spanning acquisitions, development, construction, capital markets, brokerage and property management.
The Woods at Forest Crossing loan is the second transaction between Crestline and Bridgeview.