Pebb Enterprises Refis Boca Offices With $35M From Citibank
Both buildings are nearly fully leased
By Julia Echikson March 17, 2026 1:35 pm
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PEBB Enterprises nabbed $35 million from Citibank to refinance two office properties in Boca Raton, Fla., the developer announced.
The portfolio is made up of Boca Corporate Plaza, a six-story office building at 7900 Glades Road, and 5900 Broken Sound Parkway, a three-story building within the 700-acre Park at Broken Sound business park.
“This refinancing reflects both the quality of the portfolio assets and continued strength of the Boca Raton office market,” Pebb Enterprises CEO Ian Weiner said in a statement.
The 89,336-square-foot Boca Corporate Plaza is 97 percent leased, per a spokesperson for Pebb Enterprises. In 2010, the Boca Raton-based developer paid $8.6 million for the asset, which was completed in 1987.
The 77,340-square-foot 5900 Broken Sound Parkway is fully leased. Pebb Enterprises bought the property for $14.5 million in 2021.
The new refinancing loan replaces debt previously provided by Citibank, including a $14.2 senior mortgage for the acquisition of 5900 Broken Sound Parkway. Christopher Staller and Donny Schreiber of the Nelson Mullins law firm represented Pebb in the recent transaction.
Despite the rise of remote work, boutique offices in wealthy submarkets are still managing to land funding. Last week, Crestline Investors provided a $24 million, five-year loan for Westside Capital Group’s eight-story property in Coral Gables.
Julia Echikson can be reached at jechikson@commercialobserver.com.
