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12/04/17
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MC Companies has secured a new $33.45 mil loan for The Place at Castle Hills, a 680-unit apartment community the company owns in Suburban San Antonio, TX. The Freddie Mac financing was arranged by Walker & Dunlop.
Located 13 miles north of San Antonio, the Class B, garden-style property includes one- and two-bedroom apartments, a fitness center, four outdoor swimming pools, a spa, gated access, courtyards, and walking trails. The Place at Castle Hills is conveniently situated near Interstates 10 and 210, the San Antonio International Airport, and Phil Hardberger Park.
The new financing is a long-term, fixed rate product through Freddie Mac’s Green Up® and Index Lock programs. It was originated by W&D’s Alex Inman, who notes that the loan closed in under 60 days and reduced the borrower’s annual debt service requirements.
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