Oaktree Capital is reportedly considering various options for Austin-Bergstrom International Airport’s (ABIA) South Terminal, including a partial divestment of its right to operate the terminal.
Citing undisclosed sources familiar with the development, BloombergQuint reported that the Los Angeles-based alternative investment firm has hired an adviser to scout for prospective buyers.
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Oaktree Capital, through LoneStar Airport Holdings, holds a 40-year lease to operate the South Terminal at ABIA in Austin, Texas.
The South Terminal is an existing, three-gate, single-storey terminal located on the south end of the airport that was restored for commercial use in 2017.
A source told the publication that an equity injection will accelerate the terminal’s expansion beyond the three gates it currently operates.
In 2016 and 2017, LoneStar Airport Holdings invested nearly $12m to rehabilitate the South Terminal and its support infrastructure.
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By GlobalDataThe renovated 30,000ft² terminal officially launched operations in April 2017. It is equipped to service up to 500,000 passengers each year through its three canopy-covered outdoor gates.
It features eight check-in counters, automated kiosks, a TSA checkpoint, checked-baggage screening equipment, a passenger hold room, and a baggage claim area.
The South Terminal is designed to accommodate a combined total of up to 36 aircraft arrivals and departures per day.
It also offers passengers a vast array of amenities, including food trucks and kiosks, an indoor/outdoor waiting area with a stage and bar, 1,000 covered parking spaces, a drop-off area for taxis, as well as a shuttle service to the main Barbara Jordan Terminal.
