{"id":133834,"date":"2026-01-27T19:08:07","date_gmt":"2026-01-27T19:08:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/133834\/"},"modified":"2026-01-27T19:08:07","modified_gmt":"2026-01-27T19:08:07","slug":"tykos-410m-construction-loan-sets-record-for-miamis-coconut-grove-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/133834\/","title":{"rendered":"Tyko\u2019s $410M Construction Loan Sets Record for Miami\u2019s Coconut Grove \u2013 Commercial Observer"},"content":{"rendered":"

Terra<\/a> and AB Asset Management<\/a> secured $410 million to build a boutique luxury condo development in Miami\u2019s Coconut Grove neighborhood, the joint venture announced.<\/p>\n

The financing from Tyko Capital<\/a> will fund the Well Coconut Grove, a 194-unit development at\u00a0 2835 Tigertail Avenue. Vertical construction, which got underway this week, is expected to be completed in the fourth quarter of 2028.<\/p>\n

SEE ALSO: Keystone Equities Provides $84M in Bridge Debt for Queens Multifamily Property<\/a><\/p>\n

The recent debt \u2014 brokered by Walker & Dunlop<\/a> \u2014 marks the largest construction loan in the history of Coconut Grove, a leafy, wealthy residential neighborhood.\u00a0<\/p>\n

More than half of the units are under contract, with pricing starting at $1.5 million, according to the developers. One- to four-bedroom residences range between 960 and 4,200 square feet. Douglas Elliman<\/a> is serving as the project\u2019s brokerage.<\/p>\n

The eight-story project will house 53,000 square feet of wellness-focused amenity space, including a 40,000-square-foot rooftop pool deck with a pickleball court. Arquitectonica<\/a> served as the project\u2019s architect, while Meyer Davis<\/a> designed the interiors.\u00a0<\/p>\n

In 2021, Terra paid $21 million for the 2-acre site, which held a single-story rental building, according to property records. Two years later, Terra and AB Asset Management landed<\/a> $43 million in financing to begin site work.\u00a0<\/p>\n

Also along Coconut Grove\u2019s waterfront, Terra secured $286 million to build the three-building Park Grove luxury designed by Rem Koohas\u2019s OMA between 2013 and 2018. More recently, in December, Allen Morris nabbed a $138 million construction loan from BDT & MSD Partners and BHI for a boutique \\project that will include about 100,000 square feet of office space, 45,000 square feet of retail space and 18 condos.\u00a0<\/p>\n

Tyko Capital, which has emerged as one of South Florida\u2019s most prominent lenders since launching in 2023, is a frequent funder of Terra\u2019s project. The credit platform, founded by Adi Chugh and backed by Elliott Management, provided $392 million<\/a> for the construction of the convention center hotel in Miami Beach, $285 million<\/a> for the Mr. C-branded hotel and condo project in West Palm Beach and another $285 million<\/a> for the Major Food Group-branded condo tower in Miami.\u00a0<\/p>\n

Julia Echikson can be reached at jechikson@commercialobserver.com<\/a>.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Terra and AB Asset Management secured $410 million to build a boutique luxury condo development in Miami\u2019s Coconut…\n","protected":false},"author":2,"featured_media":133835,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[65580,43991,741,123,125,124,65581],"class_list":["post-133834","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-2835-tigertail-avenue","tag-construction-financing","tag-finance","tag-miami","tag-miami-headlines","tag-miami-news","tag-well-coconut-grove-channel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/133834","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=133834"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/133834\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/133835"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=133834"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=133834"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=133834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}