The Related Group, a major player in luxury real estate development led by the Pérez family, together with BH Group, has obtained a $360 million construction loan to build a new waterfront condominium tower in Hollywood, Florida. The financing was provided by Tyko Capital, signaling strong investor confidence in the South Florida luxury market.

The project, named Icon Beach Waterfront Residences, will rise 38 stories and offer 350 residential units. Located at 3724 South Ocean Drive, the development boasts sweeping views of the Intracoastal Waterway and is positioned adjacent to a large, 1,000-room hotel complex, enhancing its appeal for both residents and visitors.

Icon Beach Waterfront Residences aims to combine upscale living with resort-style amenities, further cementing Hollywood’s growing reputation as a desirable coastal community. The tower will feature modern design elements and a range of luxury services, targeting affluent buyers seeking a blend of tranquility and vibrant nearby attractions.

This new development marks another significant investment by Related Group, which has a well-established track record for transforming urban waterfront spaces in Florida and beyond. For New Yorkers considering a second home or investment property, South Florida continues to be an attractive option, with projects like Icon Beach exemplifying the region’s upscale offerings.

As the project moves forward, it will be closely watched by real estate professionals and potential buyers alike, with the $360 million loan underscoring confidence in Hollywood’s luxury condo market. The partnership between Related Group and BH Group highlights the growing collaboration between major developers to meet demand for high-end residences in dynamic coastal communities.

Editorial Transparency. A first draft of this story was produced with AI-assisted writing tools, then reviewed for accuracy and tone by the named editor before publication. More on our process: Editorial Policy.