The Project’s purpose is to improve mobility along the highly congested IH820 and SH121/183 highways through the expansion of the existing general purpose lanes and the construction of 13.3 miles (21.4 km) of managed lanes (tolled lanes) and direct connections at major interchanges in Tarrant County.
Financial close occurred in 2009, with the Dallas Police and Fire Pension System (DPFS) involved as a 10% sponsor, with Cintra holding 56.7% and Meridiam 33.3%. In 2012 Meridiam sold 37% of its interest to a co-investor.
The highway opened to traffic on 4 October 2014, nine months ahead of schedule. The Final Acceptance Certificate was issued in January 2015.
In 2017, Meridiam purchased 3.7% stake from DPFS with Cintra taking its preemption share of 6.3%.
The investment was made through MI NTE Parallel LLC alongside a co-investor.
In December 2019, the project refinanced the entire $400 million of Private Activity Bonds and $850 million TIFIA Loan into the municipal bond market and made the first distribution of Meridiam’s managed lanes portfolio of $292 million.
In Operation, completion date 4 November 2014
Of vehicles are not luxury brands
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