PGIM Real Estate, the real estate investment and financing arm of PGIM, has provided a $90 million fixed-rate loan to two Class-A retail properties in the suburbs of Boston. The two assets, Woburn Village and Burlington Crossroads, totaling 394,108 square feet, are unlevered and wholly owned by EDENS, a retail real estate owner, operator and developer headquartered in Washington, DC. 

“We are pleased to partner with EDENS to expand our necessity-based retail exposure in the high-barrier-to-entry Boston market,” said Tom Goodsite, managing director at PGIM Real Estate. “Necessity-based retail is a resilient property sector where we expect fundamentals will remain strong.”  

Located at Woburn and Burlington in Massachusetts, both retail assets underwent recent redevelopment, which aimed to broaden the shopping and entertainment options available to residents of the area. In addition, the renovation introduced a selection of restaurants and an organic grocery store.