PGIM Real Estate, the $207.9 billion real estate investment and financing business of PGIM, has provided a seven-year, $90 million fixed-rate loan on behalf of its core lending strategy to EDENS for two class A retail properties located in Boston’s suburbs.
The two retail assets, totaling 394,108 square feet, are wholly owned and located about 10 miles north of Boston. The properties’ recent redevelopment expands shopping and entertainment options in the area and adds an organic grocery store and restaurants.
The assets include Woburn Village, a 201,965-square-foot neighborhood center located nine miles north of Boston in Woburn, Mass. EDENS purchased the property in 2017 and completed its redevelopment in 2021. The property is anchored by Market Basket, a dominant grocer in the area, TJ Maxx/HomeGoods, HomeSense and DSW.
Burlington Crossroads is a 192,143-square-foot shopping center located in Burlington, Mass., four miles southwest of Woburn Village. EDENS
