Investments - Fengate

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Prince George’s County Public Schools | Maryland, USA

Fengate is the lead developer and equity investor in the Prince George’s County Public Schools (PGCPS) alternative financing construction project underway to design, build, finance, operate, and maintain six public schools under a 30-year contract in Prince George’s County, Maryland. PGCPS, one of the nation’s largest school districts, was faced with aging facilities and expected overcrowding from a growing student population. This pioneering delivery approach is the first of its kind for a U.S. public school system, and it will provide five new middle schools and one K-8 school while cutting delivery time in half, reducing construction costs, and reducing preventative maintenance over the life of the schools. Compared to a traditional construction procurement model, this approach will save approximately $174 million in deferred maintenance and construction costs. Following commercial and financial close, PGCPS and project team together announced the creation of a $1 million endowed fund supporting scholarships, student internships, mentoring opportunities and apprenticeships valued at $4.7 million. Other community benefits include the guaranteed procurement of at least 30 percent of total eligible costs of the program to minority-owned businesses, community-based enterprises and community-based small businesses.

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LAX ConRAC | Los Angeles, USA

Fengate is a developer and equity investor in the high-profile ConRAC development project underway at Los Angeles International Airport (LAX). This new facility will consolidate the operations of rental car agencies at LAX, which are currently spread across 23 separate properties surrounding the airport. Comprising 5.3 million square feet, the LAX ConRAC will be the largest ConRAC facility ever built and will be connected to LAX’s Central Terminal Area via a train system. The US$2 billion project includes all design, construction, financing, commissioning, operations and maintenance costs over the 28-year concession period and is focused on a greatly enhanced LAX passenger experience, reduced traffic congestion, reduced carbon emissions and environmental impacts, increased operational efficiencies, and improved land use.

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EWR ConRAC | New Jersey, USA

The new Consolidated Rent-A-Car (ConRAC) facility planned for Newark Liberty International Airport (EWR) will bring all rent-a-car companies at EWR under one roof — at a convenient location — as part of the Terminal One Redevelopment Program. The facility is being constructed on a 16.65-acre site, with 2,925 public parking spaces and 3,380 rental car spaces to support ten rental brands. The project is led by Conrac Solutions, Fengate and Related Fund Management and valued at $500M USD. This is the first ConRAC facility subject to demand risk, financed in the bank market, demonstrating a unique and innovative structure of private financing, that could become a national model for future airport ConRACs.

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TowerCom | USA

In September 2020, Fengate closed an equity investment and future commitment to a portfolio of built-to-suit multi-tenant wireless communications towers managed by TowerCom, LLC, a leading communications tower developer and owner focused on some of the fastest-growing wireless markets in the United States. In August 2021, Fengate and TowerCom achieved financial close on the acquisition a diversified portfolio of 42 high-quality wireless communications towers located in seven states from Municipal Communications II, LLC.

Edmonton Valley Line Light Rail Transit | Alberta, Canada

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Edmonton Valley Line Light Rail Transit | Alberta, Canada

Fengate is an equity investor in this $1.7 billion infrastructure project to design, build, finance, operate, maintain and supply vehicles for the Valley Line LRT — Stage 1, the largest in Edmonton’s history being delivered using a public-private partnership model. This project is a significant part of Edmonton’s transportation plan, designed and built to meet the demands of one of Canada’s fastest growing cities.

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Oakville Trafalgar Memorial Hospital | Ontario, Canada

On behalf of the firm’s investors, Fengate acts as a developer and equity investor in one of the largest healthcare public-private projects in Canada. Opened in 2017, OTMH is a full-service acute care community hospital offering a comprehensive range of primary and secondary care services and internationally recognized surgical patient care in addition to a roster of tertiary services. Built with world-class technology, the hospital cares for 15,000 inpatients each year in addition to 240,000 outpatient visits, 2,300 births and more than 70,000 visits to its 24-hour emergency department.

InvestmentsOvi2021-01-13T17:23:15-05:00

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