$84.35M sale of multi-housing community near Boston closes

BOSTON, December 1, 2021 -JLL Capital Markets announced today that it has closed the $84.35 million sale of and arranged $60.9 million in acquisition financing for Eliot on Ocean, a 194-unit, transit-oriented, Class A multi-housing community in the greater Boston community of Revere, Massachusetts.

JLL marketed the property on behalf of the seller, Westbrook Partners. Invictus Real Estate Partners acquired the property. Additionally, JLL worked on behalf of the new owner to secure the three-year, floating-rate loan through Barings.

Built in 2016, Eliot on Ocean offers one-, two- and three-bedroom units averaging 738 square feet. Unit amenities include stainless steel appliances, quartz countertops, heated bathroom floors and walk-in closets. The community features a fitness center, sun deck, wine room, yoga studio, bike storage, game room, clubhouse, dog grooming station and more.