BOSTON-Boston Red Sox fans rejoice: funding has come to an upcoming mixed-use project next to Fenway Park. HFF has arranged a $123.6 million construction/permanent loan for 1282 Boylston St., a to-be-built, 342-unit, Class A multi-housing development with ground floor retail and below-grade parking in the 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. The HFF team representing Abbey Group was led by senior managing director Bob Herron and director Porter Terry.
Slated for completion in summer 2015, 1282 Boylston St. will have metro suites, studios, one-, two- and three-bedroom units, with each averaging 750 square feet. Among those, 38 units will offer affordable housing.
Property amenities will include a fitness center, 24-hour concierge, a common area roofdeck with views of Fenway Park and a 260-space parking garage. There also will 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 walking distance of Boston's Back Bay and Longwood Medical areas.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
