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HFF Closes $15M Sale, Arranges $9.75M Financing For Intercontinental Parking Garage

May 16, 2012 | Reprints | Unlock Link | Print

HFF has closed the sale of and arranged financing for the parking garage below the Intercontinental Hotel & Residences in Boston.

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 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.

Commercial & Industrial