News: Front Section
Posted: June 14, 2012
HFF closes $15 million sale and arranges $9.75 million financing for Intercontinental Hotel parking garage
HFF closed the sale of and arranged financing for the parking garage below the Intercontinental Hotel & Residences 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 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.
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