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Exclusive Financial Advisor to Terminal One Group Association

  • Oppenheimer & Co. Inc.
  • June 29, 2022
Oppenheimer & Co. Inc. acted as Exclusive Financial Advisor to Terminal One Group Association ("TOGA") regarding the P3 development of New Terminal One at JFK International Airport

New Terminal One is a public-private partnership ("P3") to design, build, finance, operate and maintain a $9.5 billion world-class international terminal at JFK International Airport in Queens, NY. Once completed, the new terminal will encompass 2.4 million square feet and feature 23 aircraft gates. The project's equity sponsors include Ferrovial, Carlyle, JLC Infrastructure and Ullico. New Terminal One reached financial close in June 2022.

terminal one group tombstone

The Port Authority of New York and New Jersey is the public sponsor and awarded the project to TOGA (which operates the current Terminal One) and Carlyle in October 2018. TOGA is a partnership of three international airlines: Air France, Korean Airlines and Lufthansa.

This transaction is Oppenheimer's first airport P3 advisory engagement to reach financial close. It is the largest transportation P3 to date in the US.

Mark Morehouse
Name:

Mark Morehouse

Title:

Managing Director | P3

Address

500 W. Madison
Suite 3800
Chicago, IL 60661Click to open address in a new window on Google Maps

Contact

(312) 360-5935 mark.morehouse@opco.com
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