AFCO closes USD36m in financing for Baltimore/Washington Airport air cargo facility

Aviation Facilities Company Management (AFCO) announced (28-Aug-2019) one of its affiliates recently closed USD36 million in financing for a new air cargo facility at Baltimore/Washington International Airport. The transaction also established AFCO Airport Real Estate Group, a new financing vehicle for AFCO. AFCO will use the funds to construct a 200,000sqft air cargo facility, 450,000sqft of aircraft parking apron and related infrastructure, which will be completed in Oct-2019. The financing is from the sale of series 2019 airport revenue bonds issued by the Maryland Economic Development Corporation as part of an expandable obligated group structure. [more - original PR]