News Release: PEBB Propels Past $50M in Dispositions in the First Quarter

PEBB Enterprises had a busy first quarter, closing on four separate transactions to four different buyers, totaling over $50 million. 

PEBB’s banner quarter included the sale of two successful redevelopment projects, a standalone box in Ohio and a single tenant retail building in Coral Springs, FL.

The company has been upfront about its desire to reinvest capital nearer to home in South Florida and these transactions have brought them a step closer.

 “We’re actively pursuing a few deals that we aren’t quite ready to announce,” says PEBB President Ian Weiner.  “However, our aggressive disposition goals are being met and pave the way for diversifying our portfolio.”

PEBB’s diversification is wrapped around their unwavering ethos – Be opportunistic. Be nimble. “We’re ramping up a J/V equity platform to enable us to diversify our abilities even more and shift focus when the opportunity arises as we continue to aggressively look for value in today’s marketplace,” says Rob Truett, PEBB’s Chief Investment Officer who was recently promoted into the newly-created position.  “We’re still looking for retail deals and envision acquiring a portfolio this year, but are pursuing other property types too,” continued Truett.

Rob Truett’s recent promotion to Chief Investment Officer signals an opportunity for PEBB to expand their investments team and other parts of their organizational chart.