NEW YORK–(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 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.
JetBlue 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 airport investor, and RXR Realty – known for 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.
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 American Triple I
American Triple I Partners is a New York-based developer and manager of infrastructure assets. Former Secretary of the U.S. Department of Housing and Urban Development Henry Cisneros serves as chairman of the firm. Former Comptroller of New York City, William C. Thompson, Jr. is the chief administrtive officer, and Suzanne Shank, Chairwoman, CEO, and a co-founder of Siebert Cisneros Shank & Co., serves on the executive committee.
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.