JetBlue & JFK Millennium Partners Select New York-based Private Equity Investor – American Triple I as a Minority Owned Bus...
03 December 2019 - 4:38AM
Business Wire
JetBlue (Nasdaq: JBLU) in partnership with JFK Millennium
Partners (JMP), recently announced a new investment partner—
infrastructure investor American Triple I Partners, a 100%
minority-owned and managed business enterprise (MWBE).
Following a request for proposals to the investment community
and competitive selection process, JetBlue and JMP selected
American Triple I Partners (ATI) as a 30 percent equity investor in
the project. Based in New York, ATI is a developer and manager of
infrastructure assets with decades of experience in project
development and finance.
This new partnership is an important early step toward achieving
New York Governor Andrew Cuomo’s 30 percent MWBE participation goal
at all phases of the multi-billion dollar transformation of JFK
Airport.
JetBlue, New York’s Hometown Airline® with a significant
presence at JFK, was designated by the Port Authority of New York
and New Jersey to build a 1.2 million square foot terminal
featuring up to 12 international gates, approximately 74,000 square
feet of commercial dining and retail amenities, including lounges
and recreational space.
JetBlue is working with JMP, a private consortium comprised of
Vantage Airport Group - an industry leading airport investor,
developer and manager known for leadership roles at more than 30
airports in its 25-year history (including the new Terminal B at
LaGuardia Airport), and RXR Realty - an industry leader in
developing multi-billion dollar projects across the New York
region. The consortium offers significant experience in fostering
growth and talent through MWBE outreach and compliance.
“With their vast investment and leadership experience and
commitment to community partnership, we are proud to welcome
American Triple I Partners to the team,” said Lisa Reifer, Vice
President Infrastructure, Properties and Development, JetBlue.
“ATI’s participation strengthens and diversifies the JetBlue/JMP
Partnership to the benefit of this world-class terminal
project.”
With the new partnership in place, American Triple I will focus
its efforts on investing and managing funds for the project from
traditional institutional investors and minority and female
investors, as well as helping lead the project’s community
engagement initiatives.
“The modernization of JFK Airport is transformational for New
York City, providing an opportunity to reimagine one of the most
important gateways in the world,” said American Triple I CEO David
J. Cibrian. “As partners in the redevelopment of JFK Terminals 6
and 7, American Triple I looks forward to bringing real value to
the project through our experienced team of infrastructure
development and fund management professionals.”
The multi-billion dollar plan to transform JFK into a unified,
world-class gateway will continue to offer compelling opportunities
for MWBE involvement in all elements and stages of the project,
from investment to construction, concession and operations
contracts, offering local employment and community involvement
opportunities.
With a significant presence at JFK and its home in Long Island
City, JetBlue is the only major commercial airline based in New
York City and New York State. JetBlue’s home terminal (T5) at JFK
is the newest terminal at JFK and focuses on delivering the
award-winning JetBlue experience.
About JetBlue
JetBlue is New York's Hometown Airline®, and a leading carrier
in Boston, Fort Lauderdale-Hollywood, Los Angeles (Long Beach),
Orlando, and San Juan. JetBlue carries more than 42 million
customers a year to 100+ cities in the U.S., Caribbean, and Latin
America with an average of more than 1,000 daily flights. For more
information please visit jetblue.com.
About American Triple I
American Triple I Partners is a New York-based developer and
manager of infrastructure assets. The firm makes equity investments
in U.S. transportation, knowledge and information, and smart city
projects. The firm’s professionals have decades of experience in
project development and finance. For more information please visit
tripleipartners.com.
About JFK Millennium Partners
JFK Millennium Partners (JMP) is the preferred development
partner selected by JetBlue in March 2018 to advance the airline’s
Terminals 6 and 7 redevelopment project at JFK International
Airport. JMP is composed of Vantage Airport Group, an industry
leading investor, developer and manager of award-winning global
airport projects, and RXR Realty, a leading New York-based real
estate operating and development company. For more information,
visit vantageairportgroup.com and rxrrealty.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191202005780/en/
JetBlue Corporate Communications Tel: +1 718 709 3089
corpcomm@jetblue.com
Butler Associates for American Triple I Partners Tel: +1
646-213-1369 jfink@butlerassociates.com
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