The Related Group and BH Group secured $360 million in construction financing from Tyko Capital for Icon Beach Waterfront Residences, a planned 350-unit, 31-story twin-tower development at 3210–3690 South Ocean Drive in Hollywood, Florida, with construction scheduled to begin in May 2026 and completion targeted for 2028. The loan is the latest in a string of South Florida construction financing packages that Related and BH have closed in 2026, including a $200 million loan from Madison Realty Capital for their Ritz-Carlton Residences in West Palm Beach. Designed by Cohen Freedman Encinose & Associates with interiors by Meyer Davids, Icon Beach offers units from 948 to 2,580 square feet across one to three bedrooms at prices ranging from $825,000 to $2.8 million. Gil Dezer's Dezer Platinum Realty leads sales and marketing.

The $360 million Tyko Capital loan for Icon Beach extends the Related Group's proven playbook of using the "Icon" brand — previously deployed at Icon Brickell and Icon South Beach — as a mid-luxury residential identifier that commands broad market appeal. For Hollywood, which sits between Fort Lauderdale and Hallandale Beach on the South Florida coastline, the project's entry point of $825,000 positions it as an accessible oceanfront option in a market where comparable Brickell product now frequently exceeds $1,500/sq ft. The construction start in May 2026 also makes Icon Beach one of the earliest new-start luxury condo towers to break ground in the Hollywood market this cycle.

Quick Facts

What is the project and who developed it?

Icon Beach Waterfront Residences — a two-tower, 350-unit luxury condo development at 3210–3690 South Ocean Drive in Hollywood, Florida, developed jointly by the Pérez family's Related Group and Isaac and Liat Toledano's BH Group.

What financing was secured?

$360 million in construction financing from Adi Chugh's Tyko Capital — adding to the pair's growing pipeline of South Florida construction debt secured in 2026, which also includes a $200 million loan from Madison Realty Capital for their planned Ritz-Carlton Residences in West Palm Beach.

When does construction start and when is completion expected?

Construction is set to begin in May 2026, with completion expected in 2028.

What are the unit sizes and prices?

Units range from 948 to 2,580 square feet across one to three bedrooms. Sales launched in 2024 with prices from $825,000 to $2.8 million. Gil Dezer's Dezer Platinum Realty leads sales and marketing.

Who designed the project?

Cohen Freedman Encinose & Associates (architecture) with interiors by Meyer Davids. The project is a 31-story twin-tower development on South Ocean Drive in Hollywood.