HFF arranges $90m in financing for the Boston Harbor Garage
HFF, a provider of commercial real estate and capital markets services, said that it has arranged $90 million in financing for the Boston Harbor Garage, a 1,380-space parking garage with 30,000 square feet of street-level retail.
HFF said it worked on behalf of the borrower, a joint venture between the Chiofaro Co. and Prudential Real Estate Investors, to secure the five-year, fixed-rate loan through Hartford Investment Management Company.
The Boston Harbor Garage is located at 70 East India Road, next to the New England Aquarium and along the Rose Fitzgerald Kennedy Greenway.
“This property has consistently performed extremely well throughout the years and remains one of the highest-income producing garages in the city,” HFF senior managing director Riaz Cassum said in a statement. “The asset’s unbeatable location near many of Boston’s most popular attractions and its central business district coupled with Boston’s strong market help to assure that it will continue to be a dependable source of revenue for the borrower.”
The Chiofaro Co. is a privately held, independent firm engaged in the development, investment, leasing, management, and ownership of real estate properties, including Boston’s International Place.
Headquartered in Madison, N.J., Prudential Real Estate Investors offers a broad range of investment vehicles that invest in private and public market opportunities in the United States, Europe, the Middle East, Asia, Australia, and Latin America.Chris Reidy can be reached at email@example.com.