Pebb Capital Secures $223 Million Refinance For Sundy Village In Delray Beach

The property asset involved in this transaction is Sundy Village, located at 22 West Atlantic Avenue in Delray Beach. This mixed-use project encompasses 209,141 square feet of commercial space on 7 acres of land. Pebb Capital secured a refinancing deal for this asset, allowing for its continued development and enhancement.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $223,000,000
• Lender: J.P. Morgan & Hudson Bay Capital
• Borrower: Todd Benson & Todd Rosenberg - Pebb Capital
• Broker: Walker & Dunlop
• Loan Type: Refinance
• Previous Loan Amount: $173,000,000
• Project Status: 97% pre-leased

The individuals key to this transaction are Todd Benson and Todd Rosenberg, representing Pebb Capital as the borrowers in this refinancing deal. The financing was arranged by Walker & Dunlop, which played a crucial role in facilitating the transaction as the broker. The deal replaces a previous construction loan from 2023, enabling the project to advance into its next construction phase.