New York & Tri-State CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Skanska Divests $115M Ownership of LGA Terminal B
Skanska has finalized the sale of its 32% stake in LaGuardia Gateway Partners LLC for $115 million to existing partners MI LaGuardia CTB, LLC and Vantage Airport Group (New York) LLC.
“From the onset, it was imperative to have the right team in place to deliver on the vision to create a world-class terminal. We are now very pleased that our partners Meridiam and Vantage Airport Group will fully take over and continue to deliver the future success of Terminal B.” said Magnus Eriksson, managing director of Skanska’s Asset Management division.
This divestment from the entirely reconstructed Terminal B at LaGuardia Airport marks the closure of Skanska’s involvement in the project. The sale, pending regulatory approval, is expected to conclude in Q4 of 2023. Skanska’s role in engineering and construction, executed via a design-build joint venture, concluded in July 2022.
- ◦Sale/Acquisition
