$7.6M Agency Refinance of a 30-Unit Jupiter Apartment Property

The numbers at 812 Center Street tell a quarter century of South Florida rent growth in two recorded sales: $1,450,000 in March 1998, and $7,500,000 in May 2023. Three years after that second sale, Walker and Dunlop recorded a $7,605,000 agency refinance on May 13, 2026, executed May 1, on a 61 month term due June 2031, a loan slightly exceeding the price the current owner paid for the property.

The asset is thirty units across five single story buildings on 2.49 acres in Jupiter, built in 1975, an increasingly rare configuration, garden density on large land, in a town that has grown up around it. The owner, 812 Center Street LLC, is an active Florida entity in the 2023 filing series formed around the acquisition, with related manager and partnership entities also on file. No community branding or active marketing was found; the asset is simply held and operated.

The financing sequence mirrors its sister deal up the road. BrightStar Credit Union recorded the $4,875,000 purchase loan in May 2023; the Walker and Dunlop refinance replaces it at a 56 percent higher balance. Before the sale, the chain ran through First Union in 1998, Wachovia in 2001, Washington Mutual in 2006, and an Arbor Commercial Funding ten year loan in 2018, one lender per era, each name itself a piece of banking history.

Walker and Dunlop's published small balance platform, Fannie Mae DUS and Freddie Mac executions on stabilized five plus unit properties, is the program tier for a deal this size, and the firm describes itself as the top Fannie Mae DUS small loan producer of 2025. This is its second tracked Jupiter refinance of the spring, alongside the $3,237,000 Villas of Jupiter Gardens loan, and it ranks 5th of 26 tracked Palm Beach closings.

For long hold owners, the two Jupiter recordings together sketch the current playbook for small Florida multifamily: buy or hold through the rate cycle on credit union or bank paper, then term out with agency debt once operations season. Twice in one town, in one spring, the same lender executed exactly that trade, and both files are in the county record.