Story by Banker & Tradesmen
September 26, 2016
First Niagara Bank has furnished a construction loan for Beach House, a 234-unit luxury apartment development in Revere.
Baystone Development of Weston is leading the project at a long-vacant parcel at 540 Revere Beach Boulevard. The development will include open layout floor plans with a full amenity package including a heated outdoor pool, roof deck with Boston skyline views, fitness center, resident club area with full kitchen and theater room.
CBRE/New England’s John Kelly, Kyle Juszczyszyn, Chris Coutts and Lenny Pierce arranged the construction loan with First Niagara Bank’s Senior Vice President David Yesue and Market Executive Doug MacLean.
The developers will market the property as a transit-friendly option for Boston commuters with lower rents than the city, Baystone executive Todd MacDowell told Banker & Tradesman in July.