The asset involved in this context is a development site located at 3724 South Ocean Drive in Hollywood, Florida. It is designated for a luxury condo tower known as Icon Beach Waterfront Residences, which will consist of 350 residential units spread across 38 stories. The project area is situated on a waterfront site next to the Diplomat Beach Resort. The secured construction loan amounts to $360 million.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $360,000,000
• Lender: Adi Chugh - TYKO Capital
• Landlord: Jon Paul Pérez, Nicholas Pérez & Jorge Pérez - Related Group; Isaac Toledano & Liat Toledano - BH Group
• Loan Type: Construction
• Expected Completion: 2028
• Construction Start: Next month

This transaction highlights the involvement of key players, including Adi Chugh from TYKO Capital, who provided the construction loan. The Related Group, represented by Jon Paul Pérez, Nicholas Pérez, and Jorge Pérez, alongside the BH Group, represented by Isaac Toledano and Liat Toledano, are collaborating on this significant development project in South Florida.