AFCO and American Triple I Selected to Develop Aeronautical Facilities at Laredo International Airport

Oct. 26, 2020

Aviation Facilities Company Management, LLC (“AFCO”), in a joint venture with American Triple I Partners (“ATI”), was selected to develop nearly 75 acres at Laredo International Airport (“LRD”). The group, composed of the on-airport facility developer, investor, and manager – AFCO, and New York-based infrastructure investment firm – ATI, anticipates developing a range of facilities and infrastructure, including cargo, logistics, and general aviation. The new infrastructure will facilitate steadily growing cargo flow at the South Texas airport.

The Laredo City Council voted to approve the selection of the consortium to develop four of the seven parcels that it had put out for bid at its Oct. 19 meeting. “We are thrilled to be selected as a preferred consortium to deliver these needed facilities to meet growing demand at the airport,” said Chuck Stipancic, president and CEO of AFCO. “We look forward to a productive and highly-collaborative partnership with the Laredo International Airport team and the City of Laredo.”

ATI Chairman and Co-Founder, Henry Cisneros, stated that, “Despite the challenging global environment amidst COVID-19, airport leadership is pushing forward to have Laredo International Airport continue to play its vital role in making the City of Laredo one of the top trade ports in the U.S. This is a real testament to a local government team that we’re honored to call our partners.”

Jeff Miller, airport director at Laredo International Airport added, “We look forward to working with the AFCO and ATI team on this important initiative, which will not only provide expansion opportunities for existing airport businesses, but also bring new business and jobs to the airport.”

Jonathan Hunt, managing director in the merchant banking division (“MBD”) of Goldman Sachs, said, “We are excited to have the opportunity to invest in this dynamic project that reinforces the City of Laredo’s position as a critical logistics hub.” MBD manages West Street Infrastructure Partners III, an infrastructure investment fund that is AFCO’s largest shareholder.