Pebb Capital Secures $223 Million Refinancing For Sundy Village In Delray Beach, FL

The asset involved in this transaction is a development site located at 22 West Atlantic Avenue, Delray Beach, FL, consisting of 7.0 acres. The refinancing amounts to $223 million, which replaces a previous construction loan of $173 million obtained in 2023 for the development known as Sundy Village, a mixed-use project that is currently 97% pre-leased and includes both office and retail space. The property is entering its next construction phase.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $223,000,000
• Lender: J.P. Morgan Chase & Hudson Bay Capital
• Landlord: Todd Benson & Todd Rosenberg - Pebb Capital
• Broker: Walker & Dunlop
• Previous Construction Loan: $173,000,000

The key individuals involved in the transaction include Todd Benson and Todd Rosenberg from Pebb Capital, who serve as the landlords. Walker & Dunlop played a crucial role by arranging the financing for the project, facilitating this refinance transaction that supports the development efforts of Sundy Village.