PEBBLE CREEK APARTMENTS RECEIVES HUD REFINANCE LOAN

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PORT ARTHUR — Walker & Dunlop has provided a $5.97 million loan under the U.S. Department of Housing and Urban Development (HUD) Section 223 (a)(7) program for Pebble Creek Apartments, a 208-unit garden style apartment complex in Port Arthur. The apartment complex features a swimming pool, playground and laundry center, and is currently 95 percent leased. Walker & Dunlop's Carolyn McMullen provided the loan for the borrower, The Itex Group, based on a 37-year term and a 37-year amortization schedule.

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