Rivage Bal Harbour Secures $424 Million Loan from Tyko Capital

Developers Related Group, Rockpoint, and Two Roads Development have secured a $424 million construction loan from Tyko Capital, backed by Elliott Investment Management, for their luxury condominium project, Rivage Residences Bal Harbour.

This announcement reflects the ongoing demand for high-end residences in South Florida. The region has seen a flurry of financing activity for luxury developments, including Witkoff Group and PPG Development’s $273 million loan for a project north of Miami and a $527 million financing deal secured by Related and a partner in September for another upscale condo project.

Construction on Rivage Residences Bal Harbour began earlier this year, with completion anticipated in 2027. Sales for the exclusive condos are already underway, with over $100 million in transactions closed in the past two months.

Residences at Rivage range in size from 3,300 to nearly 13,000 square feet and offer premium features such as private parking garages. The development includes luxurious amenities, including a fitness center, hammam spa, and a virtual reality game simulator.

“We envisioned Rivage as an unparalleled jewel of luxury and service, surpassing even the most prestigious residential offerings in this iconic community,” said Nick Pérez, president of condominium development at Related Group.