Meridiam closes transaction to increase ownership in New York’s LaGuardia Airport Terminal B

Meridiam, a leading sustainable infrastructure investor and asset manager, has successfully closed its acquisition of an additional c.16% ownership of LaGuardia Gateway Partners LLC in New York. LaGuardia Gateway Partners is responsible for the investment, development, and operation of the reconstructed Terminal B at LaGuardia Airport, completed in July 2022, as part of a public-private partnership with the Port Authority of New York and New Jersey. Meridiam now holds a c.48% stake in the asset.

LaGuardia Airport Terminal B is the first airport project in the world to receive LEED (Leadership in Energy and Environmental Design) v4 Gold certification^[1], a globally recognized sustainability achievement symbol, for building design and construction. It also received an Envision certification and won several distinctions, including “Best Airport” from UNESCO’s Prix Versailles^[2] and “World’s Best New Airport Terminal” from Sky Trax.^[3] Additionally, it received the first 5-star rating of an airport terminal in North America.^[4]

In 2016, Meridiam served as an initial investor and partner in LaGuardia Terminal B’s redevelopment project, alongside with Skanska, Vantage Airport Group, and JLC Infrastructure Group. The investment is representative of Meridiam’s strategy to invest in sustainable assets that will have a positive, long-term impact on people and the planet.

Sources:

[1] “LaGuardia Airport’s Terminal B Is World’s First to Earn LEED v4 Gold Certification for Sustainability Under More Stringent Gold ‘Version 4’ Standards.” The Port Authority of New York and New Jersey, 15 July 2021, https://www.panynj.gov/port-authority/en/press-room/press-release-archives/2021-press-releases/laguardia-airports-terminal-b-is-worlds-first-to-earn-leed-v4-gold-certification.html

[2] “LaGuardia Airport Terminal B Wins UNESCO’s Prestigious 2021 Prix Versailles for Best New Airport in the World.” The Port Authority of New York and New Jersey, 22 December 2021, https://www.panynj.gov/port-authority/en/press-room/press-release-archives/2021-press-releases/LAGUARDIA-AIRPORT-TERMINAL-B-WINS-UNESCOS-PRESTIGIOUS-2021-PRIX-VERSAILLES-FOR-BEST-NEW-AIRPORT-IN-THE-WORLD.html

[3] “Terminal B at LaGuardia Airport Awarded 5-Star Airport Terminal Rating.” Sky Trax, 15 March 2023, https://skytraxratings.com/terminal-b-at-laguardia-airport-awarded-5-star-airport-terminal-rating

[4] “Terminal B at LaGuardia Airport Awarded 5-Star Airport Terminal Rating.” Sky Trax, 15 March 2023, https://skytraxratings.com/terminal-b-at-laguardia-airport-awarded-5-star-airport-terminal-rating