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Northside apartment complex secures $33.4M loan for green improvements

December 1, 2017

The company that owns The Place at Castle Hills apartments has secured a $33.45 million loan to renovate and refinance the property. The loan, which was secured by Maryland-based commercial real estate finance company Walker & Dunlop Inc., 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. With the loan, MC Cos., the firm that owns the complex, will refinance its existing loan and fund environmental improvements, including low-flow kitchen and bathroom faucet aerators, shower heads and toilets.

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