News: Front Section
Posted: September 12, 2007
Meredith & Grew Markets Group secure $35.6m loan
Meredith & Grew's Capital Markets group secured a $35.6 million refinancing loan for Garage C located at the T.F. Green International Airport.
Executive VP Kevin Phelan and VP Seth Rosen represented the borrower, New England Parking Co. The ten-year, fixed-rate loan closed in July.
Citigroup Global Markets, Inc., a conduit lender, financed the transaction.
Built in 1999, Garage C, formerly known as Red Beam Garage, is a privately-owned, six-level, 1,500-space parking facility.
"Garage C at T.F. Green International Airport is one of the only privately-owned garages in the country that is on the premises of a commercial airport," said Phelan.
"Citigroup did an exceptional job closing this transaction in what was a very challenging capital and credit market environment," said Rosen.
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