REBusiness Online reports that Walker & Dunlop has arranged a $49.5 million Fannie Mae loan to refinance Palmilla Apartments, a 240-unit multifamily community located at 51 S. Coyle St. in downtown Pensacola.
Will Baker and Doug McDaniel of Walker & Dunlop’s Birmingham office arranged the five-year, fixed-rate loan on behalf of Kore LLC, the borrower.
The borrower will use the proceeds to stabilize Palmilla and pay off construction debt. According to Walker & Dunlop, Kore used Fannie Mae’s green platform for better pricing.
For a loan to be determined ‘green’, the utilisation of funds must exclusively provide clear environmental benefits, including addressing climate change, natural resource depletion, loss of biodiversity and air, water and soil pollution. Jul 19, 2023
Fannie Mae
I’m not seeing any of this at Palmilla Apartments. Look back at the build… fill and build…
How will the company comply with the “rules” of green infrastructure?
Stormwater continues to run a muck in The Tanyard.
ARGH!!!