Tower at One Greenway Changes Hands

Located in downtown Boston, the 217-unit residential community was acquired by PGIM Real Estate. Tower at One Greenway is LEED-certified, offering more than 3,000 square feet of ground-floor retail space.

By Beata Lorincz

Tower One Greenway, Boston
Tower at One Greenway, Boston

PGIM Real Estate is the new owner of the Tower at One Greenway, a Class A residential property in Downtown Boston. The 181,442-square-foot LEED Gold certified apartment community is within walking distance of South Station, Boston Common, Chinatown and the Theater District, providing easy access to the major subway lines of the city.

Located at 99 Kneeland St., the 21-story building includes 217 apartments, 3,180 square feet of ground floor retail and a three-level parking garage. Coffee House and East Boston Savings Bank fully occupy the ground-level retail space, while the parking garage is leased to Pilgrim Parking Inc.

Green features

The property offers studio, one-, two- and three-bedroom apartments. The building includes community amenities such as a rooftop terrace with fire pits and views of the harbor, an outdoor park with deck and grills, a 24-hour fitness center and yoga studio. Tower at One Greenway also features energy-efficient strategies like:

  • Energy Star appliances
  • water conservation fixtures
  • electric car charging stations
  • designated parking for fuel-efficient vehicles
  • 9,863 square feet of landscaped open space

“The acquisition of One Greenway is a unique opportunity to make a longterm investment in a transit-oriented, high-barrier-to-entry property in Downtown Boston,” said Alfonso Munk, Americas chief investment officer for PGIM Real Estate, in prepared remarks.

Todd Goldberg, head of Northeast Transactions at PGIM Real Estate, led the transaction. PGIM recently worked together with Marcus & Millichap to secure a $36 million refinancing for Aurora Apartments in Charlotte, N.C.

Image courtesy of Yardi Matrix

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