Holliday Fenoglio Fowler, L.P. (HFF) has arranged $90 million in financing for the Boston Harbor Garage, a 1,380-space parking garage with 30,000 s/f of street-level retail.
HFF worked on behalf of the borrower, a joint venture between The Chiofaro Company 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 Rd. in downtown, adjacent to the New England Aquarium and along the Rose Kennedy Greenway across from Faneuil Hall.
The HFF team representing the borrower was led by senior managing director Riaz Cassum, director Porter Terry and real estate analyst Samantha Bendetson.
"This property has consistently performed extremely well throughout the years and remains one of the highest-income producing garages in the city. 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," said Cassum.