SAN ANTONIO—The proceeds of $33.45 million loan will be used torefinance an existing loan and fund environmental improvements. Theloan has been secured on behalf of borrower, MC Companies, forThe Place at Castle Hills, a class-B garden-styleproperty that features 680 units, according to Walker & DunlopInc.
The execution utilized Freddie Mac's Green Upfinancing program, which offers favorable rates and generatessavings for borrowers whose properties meet certain criteria forreduced energy and water consumption. As a company offering greenfinancing, Walker & Dunlop encourages borrowers to take advantage ofthose types of financing options that positively impact theenvironment. Some of the improvements that will be made The Placeat Castle Hills will include low-flow kitchen and bathroom faucetaerators, shower heads and toilets.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
