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Owner Lands $67M Loan To Renovate Apartments On Revere Waterfront
['Taylor Driscoll']
Bisnow News Feed
The owner of a Revere Beach waterfront apartment property has closed a refinancing deal that enables it to start a renovation program at the property.
Photo credit: Google Earth Revere BeachNew York-based Invictus Real Estate Partners secured a $67M loan for its 194-unit Eliot on Ocean apartment building in Revere, JLL announced.
The waterfront apartments offer ocean views of Revere Beach.
"Revere Beach represents one of the few remaining value-add opportunities in Boston's constrained waterfront multifamily market," Aiese said in a statement.
The Revere Beach neighborhood has attracted other multifamily developers, drawn to its location close to the Blue Line and the beach.