Related Group and BH Group Join Forces Again for Pompano Beach Development Site


Related Group and BH Group have continued their successful partnership by acquiring a prime waterfront property in Pompano Beach for $47.5 million. This marks their sixth collaboration since 2001, as the dynamic duo aims to capitalize on the growing opportunities in the real estate market. Let’s explore their latest venture and the potential it holds for Pompano Beach.

The Acquisition and Site Details

Related Group and BH Group have purchased a 3.7-acre waterfront property located at 20 North Ocean Boulevard in Pompano Beach. The site already has approval for a mixed-use development, making it an attractive investment opportunity. The acquisition was facilitated through a joint venture, with Centennial Bank providing a $28.5 million mortgage to support the purchase.

Records reveal that the seller of the property is an affiliate of Chetrit Group, a New York-based real estate firm led by Joe Chetrit. Chetrit Group had originally partnered with developer Ari Pearl in 2009 to acquire the land for $9 million. However, Pearl withdrew from the project two years ago.

Planned Development and Co-Development Spree

The development plans for the Pompano Beach property were approved by the city in 2016. The project envisioned a 24-story tower with 77 condos, a 22-story hotel with 303 keys (including 49 condo-hotel rooms), restaurants, retail space, a spa, a banquet hall, and ample parking. The project, named Oceanside Pompano Beach, aimed to create a vibrant mixed-use community.

Related Group, led by Chairman Jorge Pérez and his sons Jon Paul and Nick Pérez, along with BH Group, led by Liat and Isaac Toledano, are currently engaged in a series of co-development projects. These include ventures in Hollywood, Aventura, North Miami, and Fisher Island, each showcasing their commitment to creating exceptional residential and commercial spaces.

The joint acquisition of the Pompano Beach development site by Related Group and BH Group represents another chapter in their successful partnership. With their proven track record of delivering high-quality projects, this collaboration promises to bring transformative development to Pompano Beach, adding to the city’s real estate landscape.

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