NEWARK, N.J., July 21, 2025 – PGIM Real Estate has provided $132 million in floating-rate financing through its core strategy to The Abbey Group to refinance a Class A multifamily high rise in Boston. Amy Lousararian, managing director at JLL Capital Markets, arranged the financing.

The Viridian is 342 units and located in Boston’s Fenway neighborhood. The community offers open layouts, floor-to-ceiling windows, designer kitchens with Blomberg appliances, and select features such as spa-inspired baths, walk-in closets, and Juliet balconies. Building amenities include a two-story atrium with 24/7 concierge, two rooftop decks with panoramic views and outdoor lounges, a state-of-the-art fitness center, coworking and social lounges, and on-site parking.

Within the heart of Fenway, The Viridian is within walking distance to top medical centers, dining, shopping, arts and entertainment, with on-site retail and transit options including the MBTA, Masco Shuttle, and Blue Bikes.

“We’re excited to provide the financing to The Abbey Group for this dynamic residential project in Fenway, a neighborhood known for its energy, connectivity, and cultural significance,” said Michelle Liu, executive director at PGIM Real Estate who led the financing. “With thoughtfully designed residences, expansive amenity spaces, and direct access to world-class dining, entertainment and transit, this property reflects the type of high-quality, well-located urban living experience we seek to back.” 

“We’re proud to have secured this new financing that will allow us to continue enhancing the property for our residents, retail tenants, and investors while positioning the asset for long-term success,” said Abbey Group Co-CEO Shane Baron.

ABOUT PGIM REAL ESTATE

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.

ABOUT PGIM

PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU). In 41 offices across 19 countries, our more than 1,450 investment professionals serve both retail and institutional clients around the world.

As a leading global asset manager with $1.39 trillion in assets under management,² PGIM is built on a foundation of strength, stability, and disciplined risk management. Our multi-affiliate model allows us to deliver specialized expertise across key asset classes with a focused investment approach. This gives our clients a diversified suite of investment strategies and solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. For more information visit pgim.com.

Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

ABOUT THE ABBEY GROUP

The Abbey Group, a Boston-based developer known for its 100+ commercial office, laboratory, residential and retail buildings, is behind some of the city’s most exceptionally designed developments. The multigenerational, family-owned firm takes great pride in partnering with the local community and neighborhoods where they develop, own and manage properties for the long term. In addition to a commitment to supporting the city’s world-class arts, education and medical research, The Abbey Group is a proud co-owner and managing partner of the Boston Celtics. Commercial properties include Riverside Technology Center, a first-class technology facility home to Cambridge’s most innovative biotech firms, and Lafayette City Center, a mixed-use urban development in Downtown Boston. Most recently, The Abbey Group purchased the former site of the Boston Flower Exchange in Boston’s South End with plans to redevelop the site into Exchange South End, a 5.6-acre vibrant life science and tech community. Additional properties include Landmark Center, a 1.5-million-square-foot mixed-use development that is widely credited with sparking the resurgence of Boston’s Fenway neighborhood and luxury residential buildings such as The Viridian, a stylish residential tower with ground-level restaurant and retail space in Boston’s Fenway neighborhood.

¹ As of March 31, 2025. Net AUM is $136 billion and AUA is $47 billion. PGIM Real Estate is the third-largest real estate investment manager (out of 72 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ “Largest Real Estate Investment Managers” list published October 2024. This ranking represents AUM as of June 30, 2024. Participation in the ranking is voluntary and no compensation is required to participate in the ranking.

² As of March 31, 2025.

For Professional Investors only. All investments involve risk, including the possible loss of capital.

PGIM is the primary asset management business of Prudential Financial, Inc. (PFI). PGIM Real Estate is PGIM’s real estate investment advisory business and operates through PGIM, Inc., a registered investment advisor.

REF ID 4679215

PGIM Real Estate is the real estate investment management business of PGIM, the principal asset management business of Prudential Financial, Inc. (“PFI”), a company incorporated and with its principal place of business in the United States. PGIM is a trading name of PGIM, Inc. and its global subsidiaries. PGIM, Inc. is an investment advisor registered with the U.S. Securities and Exchange Commission (the “SEC”). Registration with the SEC does not imply a certain level of skill or training. PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. Prudential, PGIM, their respective logos and the Rock symbol are service marks of PFI and its related entities, registered in many jurisdictions worldwide. For more information, please visit pgimrealestate.com.

The brand “PGIM Real Estate” encompasses both (1) a fund advisory business headquartered in Newark, New Jersey, which operates as a business unit of PGIM, Inc., an SEC-registered investment advisor organized as a New Jersey corporation (“PGIM”), under the name “PGIM Real Estate,” and (2) a commercial real estate debt origination and advisory platform which operates through a separate, affiliated legal entity known as PGIM Real Estate Finance, LLC (“PGIM REF”), a Delaware limited liability company. Several officers of PGIM REF are also associated with PGIM, Inc., and, from time to time, may provide services to PGIM Real Estate in their capacities as officers of PGIM that are separate and distinct from the services they provide as officers of PGIM REF.