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Vantage Airport Group and Corsair Infrastructure mark financial close of US$4.2B deal to develop a new international Terminal 6 at JFK Airport through their involvement in the JFK Millennium Partners consortium

Date Closed

November 17, 2022

Lead Office

Vancouver

Value

4.20 Billion USD

On November 17, 2022, Vantage Airport Group (Vantage) and Corsair Infrastructure (Corsair), through their involvement in a consortium, JFK Millennium Partners (JMP), successfully completed the financial close of the US$4.2 billion deal to develop a new international Terminal 6 at John F. Kennedy International Airport. JMP will lead the construction of the new JFK Terminal 6 in two phases, managing both the existing Terminal 7 until its demolition in 2025, and the new international Terminal 6 from completion through 2060 via a long-term lease with the Port Authority of New York and New Jersey. Vantage and Corsair will act as lead developer in respect of the redevelopment, and a Vantage subsidiary has entered into an agreement with JMP to provide management services to the terminals for the duration of the lease.

Vantage Airport Group, headquartered in Vancouver, British Columbia, develops and manages airports and transportation infrastructure around the world.

McCarthy Tétrault assisted Vantage Airport Group with a team led by Jody Aldcorn (Business & Financial Services) and included Robin Mahood, Xinya Wang, Rachael Carlson and Dinah Holliday (Business).

 

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