Boston & New England + New England + Apartments | September 24, 2019

Helge Capital Secures $21M Construction Loan for Revere MF Property

CBRE has arranged a $20.5 million construction loan for a six-story multifamily property in Boston’s Revere suburb. John Kelly of CBRE arranged the financing on behalf of the borrower, Helge Capital Inc. through an undisclosed lender.

Located at 90 Ocean Ave., the property will consist of 75 apartment units, including a mix of studio, one- and two-bedroom apartments. Amenities will include a fitness center and a rooftop lounge. The property is located nearby the MBTA Blue Line, which offers direct access to downtown Boston.

“We are attracted to the growth and strength that the Revere multifamily market has demonstrated over the past several years,” said Oleg Uritsky, CEO of Helge Capital. “We look forward to delivering a competitive product to the market and providing a premium living experience in a great location.”

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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