BOSTON, MA – HFF announced today that it has closed the sale of and arranged financing for the parking garage below the Intercontinental Hotel & Residences (top left photo) in Boston’s Financial District.
HFF marketed the property as part of a court-mandated Federal Receivership, and procured the buyer, Synergy Investment & Development of Boston.
The sale price was $15.0 million. HFF also arranged a $9.75 million, seven-year, fixed-rate acquisition loan through Webster Bank on behalf of the buyer.
The 376-space garage is part of a mixed-used development that was completed in 2006 and is located between the Rose Kennedy Greenway and the Fort Point Channel.
Synergy Investment & Development is a Boston-based real estate investment and development firm focused on the acquisition and operation of office, retail and residential assets, and their associated debt.
Contacts:
COLEMAN BENEDICT
HFF Managing Director
(617) 338-0990
GREG LABINE
HFF Director
(617) 338-0990
KRISTEN MURPHY
HFF Associate Director, Marketing
(713) 852-3500
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