Skanska has recently completed 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. According to Magnus Eriksson, managing director of Skanska’s Asset Management division, it was crucial to have a competent team in place from the start in order to achieve their goal of creating a world-class terminal. He expressed confidence that Meridiam and Vantage Airport Group will continue delivering success for Terminal B.
This divestment marks the end of Skanska’s involvement in the reconstruction project at Terminal B at LaGuardia Airport. The sale is expected to be finalized by Q4 2023 pending regulatory approval and will be recorded under their Central stream. Skanska’s role as an engineering and construction partner through a design-build joint venture concluded earlier this year in July 2022.
The post titled “Skanska Divests $115M Ownership of LaGuardia Airport Terminal B” originally appeared on Connect CRE.
