News: Front Section
Posted: November 30, 2018
Belmont Savings Bank provides $10.4m to Oakley Country Club
Watertown, MA According to Belmont Savings Bank, the ground breaking to renovate the clubhouse and pool for Oakley Country Club has taken place. Belmont Savings is the sole lender, providing a $10.4 million loan. The Oakley Country Club is a private 18-hole golf club, which was founded in 1898. The renovated space is slated to open in spring 2019.
The main clubhouse is undergoing a complete renovation which will include a new pool complex, an expanded front entry, and outside decking to showcase the views of the Boston skyline.
“We greatly value our partnership with Belmont Savings and appreciate their commercial real estate team’s expertise and seamless execution,” said John DeVito Sr., president of Oakley Country Club. “We look forward to continuing to work with the Belmont Savings team in the future, as well as the completion of the renovated clubhouse and pool.”
“This deal highlights Belmont Savings Bank’s strong commitment to the Watertown community and to helping our clients reach their potential,” said Keith Andre, senior vice president, commercial real estate lending at Belmont Savings. “The Oakley Country Club is a historic Watertown locale as it is the original home of noted golf course architect Donald Ross. We are proud to support this renovation.”
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