Macquarie is expected to pay more than $54 million for the rights, as the international investor has agreed to acquire 100% of Californian Transportation Ventures Inc. and 82% of San Diego Expressway Limited Partnership, the concessionaire for the SR-125 project. It will be acquiring the majority stake from two engineering firms, US-based Parsons Brinckerhoff and French-headquartered Egis.
The project, which is slated to reach financial close by the end of this year, has qualified for $140 million of federal loan funding. It has also been promised $138 million from the San Diego Association of Governments, which will be used to build untolled links between the tollway and the existing San Diego freeway network.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
