The Beck
Update
06/05/23
$136M JV Equity & Construction Financing Secured for Haverhill Multifamily
The Procopio Companies have officially closed on $136M in joint-venture equity and construction financing for The Beck in Haverhill. Procopio, in partnership with Boston Andes Capital, is transforming the waterfront site into a 290-unit, Class-A apartment community to also include 6,750 square feet of ground-floor retail space. Colliers International worked on behalf of the developer to secure the capitalization.
“Our goal with The Beck was to bring a hospitality-focused property to Haverhill, developing a transit-oriented property that provides all the benefits of a downtown location, waterfront views, and luxury amenities. These resident amenities will be coupled with retail and a public waterfront park for the broader community and city of Haverhill,” says Bryan Vitale, Vice President of Strategy & Investments. “As we continue with construction alongside our newest partners, we look forward to seeing this waterfront project take shape.”
Construction is already underway on site, with a groundbreaking ceremony soon to be scheduled. Steel erection is scheduled for late Summer 2023. The project has an estimated completion date of April 2025
