Pebb Capital has secured a $173 million construction loan for Sundy Village, a mixed-use development in Downtown Delray Beach. Pebb Capital started work on the $240 million project in 2023 and expects delivery in summer 2024. The loan came from Monroe Capital and JP Morgan.
Sundy Village will include over 28,000 feet of retail space and 180,000 square feet of ‘Class A’ offices, of which Pebb Capital has already leased 141,400 square feet.
Designed by Gensler and RLC Architects, the development will offer a layout featuring open-air courtyards, walkways, lush green spaces, and indoor and outdoor dining and seating areas.
Sundy Village construction commenced in February with Bluewater Builders as the general contractor. Joe Freitas and John Criddle of CBRE oversee Sundy Village office leasing, and Sara Wolfe of Vertical Real Estate handles retail leasing.