Cassum of HFF assists in $85 million financing for Boston Harbor Garage

Riaz Cassum

Boston, MA The Boston office of Holliday Fenoglio Fowler, LP has arranged $85 million in financing for the Boston Harbor Garage, a 1,380-space parking garage with 30,000 s/f of street-level retail.

HFF senior managing director Riaz Cassum and real estate analyst Carlos Febres-Mazzei worked on behalf of a joint venture between The Chiofaro Co. and Prudential Real Estate Investors to secure the five-year, fixed-rate loan through Hartford Investment Management Co.

The venture acquired the property in an all-cash transaction in December 2007.

The Boston Harbor Garage is located at 70 East India Rd., adjacent to the New England Aquarium and along the Rose Kennedy Greenway, a recently created boulevard with a series of parks linking several urban neighborhoods.

"The Boston Harbor Garage is among the highest income-producing garages in the city of Boston with an unparalleled location at the core of Boston's Financial District and frontage on both the new Greenway and the Boston Harbor.," said Cassum.