HFF senior managing director Riaz Cassum (top right photo) and real estate analyst Carlos Febres-Mazzei worked on behalf of 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 Road in downtown Boston, adjacent to the New England Aquarium (photo at left) 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. “This transaction was a welcome challenge given the size of the deal and the current state of global capital markets.”
The Chiofaro Company is a privately held, independent firm engaged in the development, investment, leasing, management and ownership of real estate properties of the highest quality, including Boston’s International Place.
HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.