The Boston office of Holliday Fenoglio Fowler L.P. (HFF) has arranged $85 million in acquisition financing for the Boston Harbor Garage.
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. Developer Donald Chiofaro reportedly paid $155 million for the parcel. According to HFF, the joint partnership acquired the parcel in December in an all-cash transaction.
The 1,380-space garage has 30,000 square feet of street-level retail and is located at 70 East India Road in downtown Boston.