Redgate Sold Revere Multifamily Property for $77 Million

Nuveen Alternatives Advisors has purchased the 226,000-square-foot One Beachmont complex.

Updated on Oct. 12, 2026 in Commercial

Redgate Sold Revere Multifamily Property for $77 Million

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The One Beachmont property at 205 Revere Beach Parkway has been sold to Nuveen Alternatives Advisors for $77 million. The multifamily building was originally developed by Redgate, Gate Residential Properties, and The TransDel Corp.

Why it matters

The sale highlights significant ongoing investment interest in the Revere multifamily market. The transaction represents a notable return on the original $60 million development cost for the property, which first opened in 2019.

The One Beachmont facility spans 226,000 square feet. Its new owner, Nuveen Alternatives Advisors, is a subsidiary of TIAA, which manages $141 billion in total real estate assets.

The players

Redgate

Redgate is a real estate developer based in Boston that participated in the initial development and sale of the One Beachmont project.

Nuveen Alternatives Advisors

Nuveen Alternatives Advisors is the real estate investment firm that purchased the One Beachmont multifamily complex.

TIAA

TIAA is a financial services organization and the parent company of Nuveen that oversees a massive portfolio of real estate assets.

The details

The acquisition of the Revere property was confirmed through public deed records. This deal marks another transaction in the local market, where Redgate previously sold properties at 500 Ocean Ave and 21 Revere Beach Blvd.

The property opened in 2019.
Redgate sold 500 Ocean Ave in 2021.
Redgate sold 21 Revere Beach Blvd in 2022.
The One Beachmont sale was finalized in October 2026.

Culture Shift

The transaction follows the established trend of high-value multifamily asset turnover in Revere. This sale continues the momentum seen in previous large-scale property acquisitions throughout the district.

The acquisition by a major institutional investor like TIAA suggests continued long-term management of the residential complex. Residents should not expect immediate changes to property operations or rent policies due to this change in ownership.

The takeaway

Large-scale property sales in Revere underscore the city's ongoing appeal for institutional real estate investors. Property owners and residents can track these high-value transactions to better understand regional market stability and development trends.