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.