The developer of a two-year-old Revere Beach apartment complex has sold the property to an affiliate of UBS for $80 million.
NRP Group broke ground in March 2019 on the 145-unit BLVD at Revere Beach complex at 320 Revere Beach Blvd. after receiving $35.3 million in construction financing from Capital One. The price works out to nearly $552,000 per unit.
The BLVD at Revere Beach currently lists studios starting at monthly rents of $2,595, according to Apartments.com.
The complex promotes ocean views from most units and includes a salt water pool, sky lounge, bocce courts and a courtyard with fire pits.
NRP Group has developed more than 33,000 apartments since 1994.