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3724 South Ocean Drive

Related Group And BH Group Secure $360 Million Construction Loan From Tyko Capital In Hollywood
FINANCEDDevelopment Site

Related Group And BH Group Secure $360 Million Construction Loan From Tyko Capital In Hollywood

3724 South Ocean Drive

$360,000,000

Building Size

Asset Type

Development Site

Closing

Apr 23, 2026

AI

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:

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.

Players

Adi Chugh

TYKO Capital

Lender

$5.9B

vol

24 deals

Lender
Jorge Pérez

Jorge Pérez

Related Group

Landlord

$2.2B

vol

28 deals

Landlord

Hollywood Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.04%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93