The Abbey Group has received a $123.6 million construction/permanent loan for 1282 Boylston St., a planned 342-unit multifamily development with ground floor retail and below-grade parking in Boston`s Fenway/Kenmore neighborhood.
HFF placed the loan with AXA Equitable through its advisor Quadrant Real Estate Advisors, working exclusively on behalf of the borrower.
The project due for completion in summer 2015 will have metro suites, studios, and one-, two- and three-bedroom units averaging 750 square feet each. Amenities include a fitness center, concierge, a 10th floor common area roof deck with views of Fenway Park, and a 260-space parking garage.
The project includes 9,935 square feet of ground floor retail space
plus a 2,700-square-foot community space to serve neighborhood needs. The property is Fenway Park, 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.