**BH Group and PEBB Enterprises Secure $89.88M Financing for The Eclipse in Boca Raton**
BH Group and PEBB Enterprises have closed an $89.88 million financing deal for The Eclipse, a major mixed-use redevelopment project in Boca Raton. The project is being developed on the former Office Depot headquarters site. City National Bank is providing the loan, with participation from Abanca.
The Eclipse will span more than 405,000 square feet of existing office space across two buildings. In addition, the redevelopment includes two newly constructed retail and restaurant outparcel buildings totaling approximately 21,500 square feet, a 37,000-square-foot Equinox gym, and a 500-unit multifamily residential component.
The residential portion, which recently advanced via a $50 million land acquisition, is being developed through a partnership between BH Group, PEBB Enterprises, and Related Group. BH and PEBB are also jointly overseeing the office and retail elements of the project.
Key office tenants already secured include Atlantic | Pacific Companies, Kanner & Pintaluga, MN8 Energy, and ODP Corp.
In related industry news, the Connect Southeast Multifamily conference on December 4 will explore the current landscape of real estate deals, including capital allocation, underwriting trends, and innovative financing strategies. Leaders from across the industry are expected to attend to share insights and strategies in today’s evolving market environment. Visit www.ConnectSEMF2025.com for more information or to register.
