We investigate the nature of the unusual eclipsing star OGLE LMC-ECL-11893 (OGLE J05172127-6900558) in the Large Magellanic Cloud recently reported by Dong et al. 2014. The eclipse period for this star is 468 days, and the eclipses exhibit a minimum of ~1.4 mag, preceded by a plateau of ~0.8 mag. Spectra and optical/IR photometry are consistent with the eclipsed star being a lightly reddened B9III star of inferred age ~150 Myr and mass of ~4 solar masses. The disk appears to have an outer radius of ~0.2 AU with predicted temperatures of ~1100-1400 K. We model the eclipses as being due to either a transiting geometrically thin dust disk or gaseous accretion disk around a secondary object; the debris disk produces a better fit. We speculate on the origin of such a dense circumstellar dust disk structure orbiting a relatively old low-mass companion, and on the similarities of this system to the previously discovered EE Cep.