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:
- 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.
Players
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