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Energy Improvement Financing Finds Favor

December 8, 2017

The proceeds of $33.45 million loan will be used to refinance an existing loan and fund environmental improvements. The loan has been secured on behalf of borrower, MC Companies, for The Place at Castle Hills, a class-B garden-style property that features 680 units, according to Walker & Dunlop Inc. The execution utilized Freddie Mac’s Green Up financing program, which offers favorable rates and generates savings for borrowers whose properties meet certain criteria for reduced energy and water consumption. As a company offering green financing, Walker & Dunlop encourages borrowers to take advantage of those types of financing options that positively impact the environment. Some of the improvements that will be made The Place at Castle Hills will include low-flow kitchen and bathroom faucet aerators, shower heads and toilets.

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