200 Stuart Street Garage
Update
07/04/17
CIM Group acquires Revere Hotel parking garage in Bay Village for $95 million
CIM Group has acquired the 200 Stuart Street Garage, an 826-space parking garage in Bay Village that serves the adjacent Revere Hotel, for $95 million. The sale also includes the garage's 10,500-square-foot vacant ground-floor retail space. John Hancock provided $52 million in financing for CIM Group's acquisition. The garage's seller is Pebblebrook Hotel Trust, owner of the Revere Hotel. The acquisition is one of CIM Group’s two recent major deals in Boston, the other being the joint acquisition of 2.16 acres of land in the Fenway neighborhood with Cabot, Cabot & Forbes for $51 million in cash. The 200 Stuart Street Garage is CIM Group's third recent Bay Village area acquisition; CIM Group acquired the Motor Mart Garage, located across from the 200 Stuart Street Garage, for $162.5 million in October 2016, and 95 Berkeley Street, an office building located just south of the garages in the South End neighborhood, for $43 million in March 2016.
