Walker & Dunlop Arranges $75M Freddie Mac Refinance for EVO St. Petersburg High-Rise

Walker & Dunlop has arranged a $75 million Freddie Mac refinance loan for EVO St. Petersburg, a high-rise multifamily property in downtown St. Petersburg, Florida, the firm announced.

Walker & Dunlop Arranges Freddie Mac Financing

Walker & Dunlop served as the capital markets arranger on the transaction, which was announced in early October 2026. Freddie Mac is the lender on the $75 million refinance loan. The financing refinances EVO St. Petersburg, a high-rise apartment complex in the city's downtown.

The property is owned by Front Range Partners.

EVO St. Petersburg Property Details

EVO St. Petersburg, also marketed as EVO Apartments, is located at 334 2nd Ave. S., St. Petersburg, Fla. 33701. The property was delivered in 2023 and rises 23 stories, although some apartment-listing sources describe the building as 24 stories.

The building contains 220 residences, with a unit mix that includes studios and one-, two- and three-bedroom apartments. It also includes approximately 13,000 square feet of ground-floor retail and more than 26,000 square feet of indoor and outdoor amenities, including a resort-style pool and wellness facilities.

Based on the $75 million loan amount and the 220 residences, the financing equates to approximately $340,909 per unit. That figure is a loan-to-unit metric and not a property valuation.

Downtown St. Petersburg Location

The property sits two blocks from the Tampa Bay waterfront and within walking distance of the St. Pete Pier, The Dalí Museum, Central Avenue, Beach Drive and downtown dining, retail and entertainment options.

Apartment listings show asking rents ranging from roughly $2,541 for studios to more than $4,000 for selected two-bedroom units, with unit sizes generally ranging from approximately 654 to 1,498 square feet. These figures reflect advertised rents and availability and are not measures of effective rents or propertywide occupancy.

Agency Debt for a Recently Delivered Asset

Because EVO was delivered in 2023, the refinancing involves a relatively new building. Freddie Mac execution can provide long-term multifamily debt and may allow an owner to replace construction or bridge financing with permanent financing. The financing combines a sizable agency loan with a downtown high-rise that includes both residential and retail components.

Walker & Dunlop describes its platform as offering entity-level and property-level finance and advisory services across sectors including multifamily, affordable and industrial.

Sources

• Walker & Dunlop: https://www.walkerdunlop.com/news/75m-freddie-mac-refinance-loan