JLL arranges $132M financing for premier multifamily property in Boston's Fenway district

BOSTON, Jul. 23, 2025 – JLL Capital Markets announced today it has arranged $132 million in financing for The Viridian, a 342-unit luxury multifamily community with fully leased ground-floor retail in Boston's iconic Fenway neighborhood.

JLL worked on behalf of the borrower, The Abbey Group, to secure a permanent refinancing loan through PGIM Real Estate.

The Viridian, completed in 2015, features a 20-story west tower and 15-story east tower, featuring 304 market-rate and 38 affordable units. The property spans 261,715 square feet of residential space with unit types ranging from studios to three-bedroom apartments.

The community boasts exceptional amenities including two rooftop decks with panoramic views of the city and Fenway Park, a state-of-the-art fitness center, resident lounges, “work labs” with computer bars and conference rooms and a 24/7 concierge. The building also includes 11,850 square feet of ground-floor retail, with 9,150 square feet fully leased to CorePower Yoga, honeygrow and Blaze Pizza, plus a 2,700-square-foot community center serving the Fenway neighborhood.

Located at 1282 Boylston St., The Viridian offers unparalleled access to Boston's key employment centers, situated just a 15-minute walk from the world-renowned Longwood Medical Area and within easy reach of Back Bay and Downtown Boston via nearby transit options. The property is just 0.5 miles from both Lansdowne Station and Kenmore Square MBTA T-stations, providing excellent connectivity throughout the city.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Managing Director Amy Lousararian, Director Madeline Joyce and Associate Michael Schwarze.

“We have had a long-standing relationship with the JLL Capital Markets team, and we continue to find that their guidance and ability to find solutions that meet our financing needs are exemplary,” said Audrey Epstein Reny, Co-CEO, The Abbey Group.

"The combination of The Abbey Group's deep local expertise, the property's prime location near major employment centers and Boston's persistent supply-demand imbalance creates tremendous long-term value for The Viridian," added Lousararian. "With strong occupancy and a demonstrated track record of rent and NOI growth, The Viridian exemplifies the resilience and strength we continue to see in Boston's urban multifamily market."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

With a history of turning opportunities into landmarks, The Abbey Group has become the standard bearer of developing urban properties in a way that brings vitality and value to the communities of Greater Boston. In 1979, Robert Epstein, David Epstein, and John Svenson came together with a vision of a real estate company that would demand excellence in every aspect of the business, from inception to completion. Since then, a consistent ability to identify target markets—and to create properties that meet the needs of those markets—has made The Abbey Group’s name synonymous with fiscal stability and high quality in residential, commercial and retail development. We pride ourselves on creating places that make people feel engaged with their surroundings, comfortable in their residences, and excited by their possibilities. Our team includes specialists in marketing, finance, architecture, construction, land planning, and property management to fulfill the needs of the rapidly changing marketplace. It is always our goal to act as considerate stewards of the environment and of the communities our properties serve. In addition to our commitment to supporting arts, education, and medical research, The Abbey Group is also a proud co-owner and managing partner of the Boston Celtics.

PGIM Real Estate is the world’s third-largest real estate investment manager, with $210 billion in gross assets under management and administration,¹ and real estate professionals located in 35 cities worldwide. Built on our belief that strong performance is fueled by dynamic expertise, our global network of on-the-ground specialists is dedicated to opportunity creation, optimization, and timely capital deployment amid shifting market conditions.

Through our full suite of real estate equity and debt solutions, we aim to achieve exceptional outcomes on behalf of investors and borrowers. Our uncompromising commitment to building lasting relationships with our clients is founded on trust, transparency, and mutual respect. We strive to integrate sustainable best practices throughout our investment, asset management, risk and talent management processes for the benefit of our clients, employees, and the communities in which we operate. PGIM Real Estate is a business of PGIM, the global asset management business of Prudential Financial, Inc. of the United States (NYSE: PRU). For more information visit pgimrealestate.com.