Sponsor of JFK Airport infrastructure project closes on $4.2 billion in financing
Private airport developer Vantage Airport Group said Thursday it reached financial close on a $4.2 billion deal to develop the new Terminal 6 facility at John F. Kennedy International Airport. Backed by private equity firm Corsair Capital, Vantage Airport Group is lead member of JFK Millennium Partners, the private organization chosen by the Port Authority of New York and New Jersey to build and manage Terminal 6. Corsair and Vantage are the majority owners of the project, which includes $1.3 billion in equity. Terminal 6 is scheduled for completion in 2028 with capacity for ten gates and more than 100,000 square feet of commercial amenities. Vantage also developed the $5.1 billion LaGuardia Terminal B.
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