Baystone Development secures $50 million construction financing for Beach House
Baystone Development has secured $50 million in construction financing through First Niagara Bank for Beach House, an under-construction 234-unit luxury apartment building fronting Revere Beach with sweeping ocean views. John Kelly, Kyle Juszczyszyn, Chris Coutts and Lenny Pierce of CBRE/New England arranged the financing with First Niagara Bank Senior Vice President David Yesue and Market Executive Doug MacLean.
“We are pleased to have assisted Baystone Development with the construction financing and look forward to the grand opening of this exciting new development,” noted Kelly of CBRE/New England in an interview with Boston Real Estate Times. "This new development should provide an attractive option to renters seeking a well-located and well-appointed home with great amenities at a discount to downtown Boston options,” said Yeuse of First Niagara Bank. The following is the mortgage for Beach House's construction financing as recorded in the Suffolk County Registry of Deeds: