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Pebb Capital lands $223M refinancing for Delray Beach mixed-use campus

The refinancing replaces the project’s existing construction loan and adds capital for tenant improvements at a development that is 97% pre-leased.

Reported · Written up by our desk · Industry

Pebb Capital has secured a $223 million refinancing for Sundy Village, a seven-acre mixed-use campus in Downtown Delray Beach, according to ConnectCRE.

The financing, provided by J.P. Morgan and Hudson Bay Capital, replaces the property’s existing construction loan while also providing additional capital for tenant improvements across a development that is 97% pre-leased.

ConnectCRE reports that Walker & Dunlop’s Institutional Advisory Practice arranged the deal, with Aaron Casden serving as the J.P. Morgan banker on the transaction.

Sundy Village’s first phase includes 100,000 square feet of Class A+ office space, 30,000 square feet of retail and dining, and 268 below-grade parking spaces, while the next phase will add a 79,141-square-foot standalone office building for DigitalBridge and a 165-space parking garage with about 3,400 square feet of ground-floor retail.

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