Pebb Capital Obtains $223M Loan for Refinancing of Sundy Village in Delray Beach, Florida
Why this matters
Mixed-use is where the most interesting urban repositioning is happening. Office-to-residential conversions in Manhattan, Washington, and Philadelphia have moved from pro-forma exercises to closed transactions, and walkable suburban densification is drawing patient capital with longer hold periods than the traditional core or value-add fund structures support. For allocators, mixed-use offers exposure to multiple property types within a single basis, which has become attractive as monoline sector forecasts have widened.
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On the RET wire
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DELRAY BEACH, FLA. — Pebb Capital has received a $223 million loan for the refinancing of Sundy Village, a seven-acre mixed-use campus under development in downtown Delray Beach, a coastal city in South Florida’s Palm…
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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 con…