REVERE, MASS. — JLL has arranged a $67.3 million refinancing loan through Bridge Investment Group Holdings for Eliot on Ocean, a 194-unit waterfront property along Revere Beach in Revere, Massachusetts. The borrower was New York City-based Invictus Real Estate Partners. Built in 2016, Eliot on Ocean is adjacent to the MBTA Wonderland Blue Line train station and features ocean views. Invictus plans to apply loan proceeds to renovations targeting common areas and unit interiors. Common area improvements will enhance the lobby, amenity spaces, fitness center and beachfront terrace. The unit renovation program will add in-unit washers and dryers, upgraded appliances, smart thermostats and premium finishes across all 194 units. JLL’s team was led by Scott Aiese, Tom Sullivan and Alex Staikos.
Owners of Eliot on Ocean, developed in 2016, will embark on a 33-month renovation of the property. JLL has arranged a refinancing loan to support construction.
Invictus Obtains $67.3M Loan for Renovations to Metro Boston Beachfront Property
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