The project will include more than 120,000 square feet of Class A office space, along with over 11,000 square feet of ground-floor retail.
The transaction marks the first partnership between the two firms.
“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.
This transaction brings the 420,525 square feet of rentable Class A office space at the project to nearly full occupancy.
PEBB, in a joint venture with Cincinnati-based Topvalco Inc., sold the property for $30 million.
Scott O’Donnell of Cushman & Wakefield represented PEBB in the sale.
The project encompasses over 405,000 square feet of existing office space across two buildings, two ground-up retail and restaurant outparcel buildings totaling approximately 21,500 square feet, a nearly 37,000-square-foot Equinox gym and 500 multifamily units.
The transactions included numerous new leases and a sale transaction.
Leading real estate developer Related Group is developing the residential project in partnership with BH and PEBB.
Joe Freitas and John Criddle of CBRE are handling office leasing at The Eclipse on behalf of the development partnership. The law firm was represented by Greg Katz, Carlyle Coffin and Shay Pope of Stream Realty Partners.