Waterfront living meets transit access: $67.3M refinancing secured for 194-unit Revere Beach property

NEW YORK, Aug. 6, 2026 –  JLL Capital Markets announced today that it has arranged a $67.256 million refinancing for Eliot on Ocean, a 194-unit multifamily property in Revere Beach, Massachusetts.

JLL represented the borrower, Invictus Real Estate Partners, in securing the three-year, floating-rate loan through Bridge Investment Group Holdings Inc.

The Eliot on Ocean, located at 660 Ocean Ave., represents a rare opportunity in Boston's waterfront multifamily market. Built in 2016, the property sits directly adjacent to the MBTA Wonderland Blue Line station, providing residents access to downtown Boston in approximately 33 minutes. The 143,252-square-foot property features ocean views and direct beach access at America's first public beach.

The sponsorship's renovation program will target both common areas and unit interiors over a 33-month timeline. Common area improvements will enhance the lobby, amenity spaces, fitness center and beachfront terrace to match the quality of newer properties in the submarket. The unit renovation program will add in-unit washers and dryers, upgraded appliances, smart thermostats and premium finishes across all 194 units.

JLL Capital Market’s Debt Advisory team was led by Senior Managing Directors Scott Aiese and Tom Sullivan and Director Alex Staikos.

"Revere Beach represents one of the few remaining value-add opportunities in Boston's constrained waterfront multifamily market," said Aiese. "The combination of irreplaceable location, strong transit connectivity, and a clear path to capture market rents through targeted improvements made this an attractive financing for lenders seeking quality coastal assets."

Revere Beach has emerged as one of Greater Boston's most dynamic residential markets over the past decade, attracting over $1 billion in institutional investment. Major developers including Hines, Mill Creek, TA Realty, Redgate and Greystar have delivered more than 2,700 units along the three-mile waterfront corridor since 2015. 

The Boston multifamily market continues to demonstrate exceptional strength, with net absorption exceeding 5,900 units over the past year. Boston's vacancy rate outperforms the national average by approximately 200 basis points, and multifamily assets accounted for 43.6% of all commercial property sales in 2025, the highest share among major asset classes.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Invictus Real Estate Partners LLC is a New York-based real estate private equity firm whose principals bring more than 120 years of combined investment experience. The company makes equity and debt investments utilizing creative structures designed to align interests with its partners.