September 14, 2020
International real estate firm Hines has entered into a joint venture with Belfonti Cos. and Bridge Investment Group for the acquisition of a development site at 646 Ocean Ave. in Revere, MA.
The JV plans to develop a 209-unit beachfront apartment community on the 1.4-acre site. The community will feature an outdoor courtyard and pool overlooking the Atlantic Ocean, structured parking and a gym as well as a retail component.
“When the Belfonti Companies introduced us to this opportunity, we immediately recognized the potential of this development site,” said Hines Senior Managing Director David Perry. “We are excited about working together with Bridge Investment Group and Belfonti to create a superior residential community in an oceanfront location with convenient access to downtown Boston.”
For comments, questions or concerns, please contact David Cohen