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Pebb Secures $223M Refi on Delray Beach Mixed-Use Venture
Pebb Capital secured a $223 million refinancing for Sundy Village, its seven-acre mixed-use campus in Downtown Delray Beach. Provided by J.P. Morgan and Hudson Bay Capital, the deal replaces the project’s existing construction loan while providing additional capital for tenant improvements across the 97% pre-leased development,.
The financing was arranged by Walker & Dunlop’s Institutional Advisory Practice, led by Sean Reimer, Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Dustin Stolly. Aaron Casden served as the J.P. Morgan banker on the transaction.
Phase One delivered 100,000 square feet of Class A+ office space, 30,000 square feet of retail and dining and 268 below-grade parking spaces. The next phase includes a 79,141-square-foot standalone office building at 100 SE First Ave. for DigitalBridge, along with a 165-space parking garage at 48 SE First Ave. with approximately 3,400 square feet of ground-floor retail.
Sundy Village was designed by Gensler and RLC Architects.
- ◦Financing
