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Pioneering Pays $530M for Abbey Group

WASHINGTON DC 05.08.2017

MONTGOMERY COUNTY STATE OF THE MARKET

Featuring an Interview of Marriott CEO Arne Sorenson

Arne Sorenson -- Marriott International
Mike Gill -- The State of Maryland
Barry Glassman -- Glassman Wealth Services
Pioneering Pays $530M for Abbey Group
Abbey Group:David Epstein  with his son-in-law Shane Baron and son Jason
Pioneering on the old Sears building in the Fenway paid off big time for The Abbey Group, run by brothers Robert and David Epstein (above center) with son-in-law Shane Baron (left) and son Jason (right). In the '90s, before Fenway was fashionable (and baggy pants and grunge music were in), Abbey converted the old distribution center into a 1M SF mixed-use complex. Last spring, it sold it to Samuels for $530M. Still working for a living, Abbey recently won BRA approval to build a new 210-unit rental apartment building near the ballpark.