PEBB Enterprises Secures $35M Refinancing for Boca Raton Office Properties

Why It Matters

The refinancing strengthens PEBB’s balance sheet while confirming investor confidence in high‑quality Florida office assets, a sector showing resilience amid shifting work‑place trends.

Key Takeaways

• $35M refinancing secured for two Boca Raton office assets.
• Both properties are Class A, totaling ~166,676 sq ft.
• Citibank acted as both original lender and refinancer.
• 5900 Broken Sound fully occupied by Infinity Sales Group.
• Nelson Mullins represented PEBB in the transaction.

Pulse Analysis

The $35 million loan from Citibank underscores a growing appetite for stable, Class A office properties in secondary markets like Boca Raton. While major metros grapple with excess inventory, Florida’s office sector benefits from population inflows, corporate relocations, and limited new supply. By refinancing rather than seeking fresh equity, PEBB can lock in lower financing costs, preserve cash for future acquisitions, and extend the maturity profile of its debt, a prudent move in an environment of modest interest‑rate volatility.

Boca Corporate Plaza and 5900 Broken Sound Parkway exemplify the premium‑grade assets that attract institutional lenders. The former boasts water and golf‑course vistas, a refreshed lobby, and proximity to Glades Road and the Turnpike, enhancing tenant appeal. The latter sits within the expansive Park at Broken Sound mixed‑use campus and is fully leased to Infinity Sales Group, delivering immediate cash flow stability. Such high‑occupancy, well‑located buildings reduce risk premiums, allowing lenders like Citibank to offer favorable terms and reinforcing the assets’ long‑term valuation.

For investors and developers, the transaction signals that refinancing remains a viable strategy to optimize capital structures without diluting ownership. It also highlights the importance of partnering with experienced legal counsel—Nelson Mullins in this case—to navigate complex loan documentation and ensure compliance. As office demand continues to evolve, owners who maintain strong tenant mixes and invest in property upgrades will likely secure better financing conditions, positioning themselves for sustained growth in the competitive CRE landscape.

Deal Summary

PEBB Enterprises completed a $35 million refinancing loan for its Boca Corporate Plaza and 5900 Broken Sound Parkway office buildings in Boca Raton. The loan, provided by Citibank, N.A., closed on March 12, 2026. The properties are fully occupied, with Infinity Sales Group as tenant of the Broken Sound property.