The development site located at 811 North Central Expressway in Plano was involved in a loan transaction. The loan amount of $24,400,000 was secured from Nuveen Green Capital by Mehrdad Moayedi, who is also the landlord represented by Centurion American. The loan was obtained for energy efficiency improvements as part of the Collin Creek Mall redevelopment. PACE financing, which covers up to 25% of the project's capital stack, was chosen due to rising interest rates.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $24,400,000
• Address: 811 North Central Expressway
• Market: Plano
• Lender: Nuveen Green Capital
• Landlord: Mehrdad Moayedi - Centurion American

Mehrdad Moayedi, the landlord and borrower in this transaction, chose PACE financing for the Collin Creek Mall redevelopment. Nuveen Green Capital provided the loan for the energy efficiency improvements planned for the development site. This financing option is becoming more popular in the real estate market, especially for projects requiring sustainable and environmentally friendly upgrades.