BOSTON, MA – PGIM Real Estate and Toll Brothers Inc., through its Toll Brothers Apartment Living rental division, have formed a joint-venture partnership to develop a 432-unit luxury multifamily community in downtown Boston, MA.
For the project, the partnership has secured a $226 construction loan facility from Wells Fargo N.A. as agent, along with BNY Mellon and the Bank of East Asia Ltd.'s New York branch. Toll Brothers' in-house finance department arranged the debt and equity.
The 34-story rental community, titled Lyra, will consist of 376 market-rate units and 56 affordable units. The tower will feature a 24-hour concierge, a state-of-the-art fitness center, co-working space, a lounge and meeting room, a screening room, a pet spa, bicycle storage and a rooftop lounge with an outdoor terrace.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
