Terra And Sympatico Real Estate Secures $285M Construction Loan From TYKO Capital For Mr. C Hotel & Residences

The asset involved in this transaction is a development site located at 320 Lakeview Avenue in West Palm Beach. A loan of $285,000,000 has been secured for the construction of Mr. C Hotel & Residences West Palm Beach, which will feature 110 hotel suites and 146 residences. The development will also include amenities such as a lap pool, spa, and fitness center.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $285,000,000
• Lender: Adi Chugh - TYKO Capital
• Landlord: David Martin - Terra; Carlos Morrison & Thomas Morrison - Sympatico Real Estate
• Broker: Aztec Group
• Loan Type: Construction

This transaction has brought together key individuals and companies including Adi Chugh from TYKO Capital who provided the funding, and the landlords David Martin from Terra, along with Carlos Morrison and Thomas Morrison from Sympatico Real Estate. The arrangement was facilitated by broker Aztec Group, highlighting the collaborative effort behind the financing of this significant development project.