BOSTON, MA– HFF announced today that it has arranged a $123.6 million construction/permanent loan for 1282 Boylston Street, a to-be-built, 342-unit, Class A multi-housing development with ground floor retail and below-grade parking in Boston’s Fenway/Kenmore neighborhood.
Working exclusively on behalf of the borrower, The Abbey Group, HFF placed the loan with AXA Equitable through its advisor Quadrant Real Estate Advisors.
Due for completion in Summer 2015, 1282 Boylston Street will have metro suites, studios, one-, two- and three-bedroom units averaging 750 square feet each. 38 units will be designated affordable. Property amenities will include a fitness center, 24-hour concierge, a 10th floor common area roofdeck with views of Fenway Park, and a 260-space parking garage. There will also be 9,935 square feet of ground floor retail space plus a 2,700-square-foot community space to serve neighborhood needs. The property is located adjacent to Fenway Park near Landmark Center, Trilogy, the MBTA’s Yawkey Way and Kenmore stations and is within a short walking distance of Boston’s Back Bay and Longwood Medical areas.
The HFF team representing Abbey Group was led by senior managing director Bob Herron and director Porter Terry.
The Abbey Group, formed in 1968, is a Boston-based real estate development company with a portfolio of more than 100 acquisitions and developments throughout New England.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.