Integra Investments Lands $322M for West Palm Beach Marina Site

Integra Investments has secured a $322 million acquisition and construction loan from Tyko Capital for the Safe Harbor Rybovich marina site in West Palm Beach, a bet on entitlements the Miami developer inherited from the property’s prior owner, the Huizenga family. The 15-acre site at 4200 North Flagler Drive carries approved plans for a 2.6 million-square-foot mixed-use project, including four condo towers plus office, retail and restaurant space, that Integra now controls after buying the marina last month for $73 million.

Why it matters

The loan is a marker of how much capital is chasing waterfront megaprojects in South Florida, even at a scale most lenders would balk at. Tyko Capital, led by Adi Chugh, has now backed Integra twice at nine figures and up: in 2024 the firm closed a $527 million construction loan for Integra and Related Group’s Ritz-Carlton Residences in Miami’s South Brickell neighborhood. Stacking a $322 million loan on top of a $73 million acquisition just weeks after closing shows Integra moving fast to convert inherited entitlements into a financed project before the market shifts, and it shows Tyko willing to underwrite a waterfront site that still needs to clear the distance between old approvals and new construction.

The numbers

The $322 million loan follows Integra’s $73 million purchase of the property last month. The site’s prior entitlements, approved under the Huizenga family’s ownership, cover 2.6 million square feet across four condo towers, 20,691 square feet of office space, 37,445 square feet of retail and 14,376 square feet of restaurant space, along with marine storage and crew amenities tied to the working marina. Tyko’s 2024 loan for Integra and Related Group’s Ritz-Carlton Residences Brickell deal totaled $527 million.

What’s next

Integra will need to determine how much of the inherited entitlement package it carries forward as designed versus reworks for the current condo and marina market. With acquisition and construction financing now in place, the next signals to watch are permit filings with the City of West Palm Beach and any changes to the unit count or tower massing as Integra finalizes its plans for the Rybovich site.