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**BH Group, PEBB Secure $89.88M Financing for The Eclipse Mixed-Use Redevelopment in Boca Raton**
BH Group and PEBB Enterprises have closed an $89.88 million financing deal for The Eclipse, a major new mixed-use redevelopment project in Boca Raton. Formerly the site of Office Depot’s headquarters, The Eclipse is being reimagined into a dynamic, multi-faceted destination. The loan was provided by City National Bank, with Abanca participating in the transaction.
The development spans more than 405,000 square feet of existing office space spread across two buildings. It will also feature two newly constructed retail and restaurant outparcel buildings totaling approximately 21,500 square feet, a state-of-the-art 37,000-square-foot Equinox fitness center, and a new 500-unit multifamily residential community.
In a previous transaction, BH and PEBB closed on a $50 million land acquisition in Boca Raton, paving the way for the residential portion of The Eclipse. The residential component is being developed in partnership with the Related Group, while BH and PEBB are co-developing the office and retail segments.
Notable tenants in the office spaces include Atlantic | Pacific Companies, Kanner & Pintaluga, MN8 Energy, and ODP Corp.
Industry professionals interested in exploring current trends in financing, underwriting, and capital movement will gain valuable insights at the upcoming Connect Southeast Multifamily conference on December 4th. The event will spotlight evolving strategies and innovation in today’s complex real estate environment.
For more information or to register, visit www.ConnectSEMF2025.com.
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