Stroock, JPMorgan Asset Management also involved with Cintra in SH 121 toll road deal
Stroock Advises JPMorgan Asset Management in Privatization of Toll Road in Texas
3/09/2007
Infobolsa (Spain)
Copyright 2007
Stroock & Stroock & Lavan LLP, a national law firm with offices in New York, Los Angeles and Miami, is representing a private fund advised by JPMorgan Asset Management - Real Estate & Infrastructure in its joint venture with Cintra Concesiones de Infraestructuras de Transporte, S.A., one of the world s leading private-sector developers of transport infrastructure, to develop Texas State Highway 121 (SH 121) into a toll road in the Dallas-Fort Worth metropolitan area.
The privatization proposal made by the Cintra joint venture was selected as the winning bid for the project and approved by the Texas Transportation Commission.
The award of the privatization of SH 121 to the Cintra joint venture is one of the largest toll road transactions in the United States.
"We are very pleased to be represented in this important investment by Stroock, our long-term fund and investment counsel," said Steven Greenspan, JPMorgan Asset Management s Global Director of Product Development.
The transaction provides for a 50-year concession from the Texas Department of Transportation for which the project joint venture will pay $2.1 billion upfront and annual lease payments totaling $700 million.
"Private investment in infrastructure assets is growing in importance as a means of financing the long-term infrastructure needs of state and local governments, and private investment funds are being created specifically for this purpose," said Richard Madris, a partner with Stroock s Private Funds Practice Group.
"We are proud to be representing JPMorgan Asset Management on one of the leading toll road transactions in the United States." The agreement with the Texas Department of Transportation is a public-private partnership that allows the provider to handle all facets of developing the toll road, including completing construction and operating and maintaining the corridor.
Stroock attorneys that advised on this matter include:
Partners: Jeffrey S. Lowenthal, Richard G. Madris, Jeffrey D. Uffner and Mark S.
Wintner.
Associates: Todd Zornik and Adam Scoll.
Stroock & Stroock & Lavan LLP is a law firm providing transactional and litigation guidance to leading investment banks, investment funds, multinational corporations and entrepreneurial businesses in the U.S.and abroad.
Stroock is one of the country s preeminent real estate and investment management firms.
Stroock s emphasis on client service and innovation has made it one of the nation s leading law firms for 130 years.
Stroock s practice areas include: capital markets/securities, commercial finance, mergers & acquisitions and joint ventures, private equity/venture capital, private funds, derivatives and commodities, employment law and benefits, energy, infrastructure and project finance, entertainment, financial restructuring, financial services litigation, insurance, intellectual property, investment management, litigation, personal client services, real estate, structured finance and tax.
For more information, please visit Stroock s website at www.stroock.com.
This Stroock press release may contain attorney advertising.
Prior results do not guarantee a similar outcome.
© 2007 Infobolsa: www.infobolsa.es
To search TTC News Archives clickHERE
To view the Trans-Texas Corridor Blog clickHERE
3/09/2007
Infobolsa (Spain)
Copyright 2007
Stroock & Stroock & Lavan LLP, a national law firm with offices in New York, Los Angeles and Miami, is representing a private fund advised by JPMorgan Asset Management - Real Estate & Infrastructure in its joint venture with Cintra Concesiones de Infraestructuras de Transporte, S.A., one of the world s leading private-sector developers of transport infrastructure, to develop Texas State Highway 121 (SH 121) into a toll road in the Dallas-Fort Worth metropolitan area.
The privatization proposal made by the Cintra joint venture was selected as the winning bid for the project and approved by the Texas Transportation Commission.
The award of the privatization of SH 121 to the Cintra joint venture is one of the largest toll road transactions in the United States.
"We are very pleased to be represented in this important investment by Stroock, our long-term fund and investment counsel," said Steven Greenspan, JPMorgan Asset Management s Global Director of Product Development.
The transaction provides for a 50-year concession from the Texas Department of Transportation for which the project joint venture will pay $2.1 billion upfront and annual lease payments totaling $700 million.
"Private investment in infrastructure assets is growing in importance as a means of financing the long-term infrastructure needs of state and local governments, and private investment funds are being created specifically for this purpose," said Richard Madris, a partner with Stroock s Private Funds Practice Group.
"We are proud to be representing JPMorgan Asset Management on one of the leading toll road transactions in the United States." The agreement with the Texas Department of Transportation is a public-private partnership that allows the provider to handle all facets of developing the toll road, including completing construction and operating and maintaining the corridor.
Stroock attorneys that advised on this matter include:
Partners: Jeffrey S. Lowenthal, Richard G. Madris, Jeffrey D. Uffner and Mark S.
Wintner.
Associates: Todd Zornik and Adam Scoll.
Stroock & Stroock & Lavan LLP is a law firm providing transactional and litigation guidance to leading investment banks, investment funds, multinational corporations and entrepreneurial businesses in the U.S.and abroad.
Stroock is one of the country s preeminent real estate and investment management firms.
Stroock s emphasis on client service and innovation has made it one of the nation s leading law firms for 130 years.
Stroock s practice areas include: capital markets/securities, commercial finance, mergers & acquisitions and joint ventures, private equity/venture capital, private funds, derivatives and commodities, employment law and benefits, energy, infrastructure and project finance, entertainment, financial restructuring, financial services litigation, insurance, intellectual property, investment management, litigation, personal client services, real estate, structured finance and tax.
For more information, please visit Stroock s website at www.stroock.com.
This Stroock press release may contain attorney advertising.
Prior results do not guarantee a similar outcome.
© 2007 Infobolsa:
To search TTC News Archives click
To view the Trans-Texas Corridor Blog click
posted by Porkus Maximus Tex: at Friday, March 09, 2007
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