Skanska sells stake in LaGuardia Airport Terminal B in New York for $115m

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Skanska sells stake in LaGuardia Airport Terminal B in New York for $115m

Skanska has agreed to sell its entire 32% ownership of LaGuardia Gateway Partners LLC in New York, NY for $115 million.

The buyers are existing partners, MI LaGuardia CTB, LLC and Vantage Airport Group (New York) LLC.

The transaction is expected to be during the fourth quarter of 2023.

LaGuardia Gateway Partners is responsible for the private investment, development and operation of the entirely reconstructed Terminal B at LaGuardia Airport as part of a public-private partnership with the Port Authority of New York and New Jersey.

“It has been an honor to be a part of LaGuardia Airport’s Terminal B redevelopment,” said Magnus Eriksson, managing director of Skanska’s Asset Management division.

“We want to thank the Port Authority of New York and New Jersey for placing its trust in Skanska and its partners to deliver a project of this magnitude. From the onset, it was imperative to have the right team in place to deliver on the vision to create a world-class terminal. We are now very pleased that our partners Meridiam and Vantage Airport Group will fully take over and continue to deliver the future success of Terminal B. Skanska is incredibly grateful for the opportunity and proud at what we’ve created together, from a vision to reality.”

LaGuardia Airport Terminal B is the first airport project in the world to receive LEED v4 Gold certification for building design and construction. It also received Envision certification and won several distinctions, including “Best Airport” from UNESCO’s Prix Versailles and “World’s Best New Airport Terminal” from Sky Trax. In addition, it received the first 5-star rating of an airport terminal in North America.

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