Northleaf Capital Partners is to acquire a 33.3 per cent equity interest in Northwest Parkway, a toll-road located in the Denver metropolitan area of Colorado.
Northleaf is part of a consortium alongside DIF Infrastructure IV and HICL Infrastructure Company which has conditionally acquired a 100 per cent equity interest in Northwest Parkway from Brisa, a Portuguese toll-road operator.
Northwest Parkway has 90 years left on its 99-year concession to operate and maintain a 14km section of the beltway system extending around Denver. The road, which opened in 2003, has strong traffic history and connects with several toll and non-toll highways, including E-470, I-25, US 36 and US 287, providing convenient access to residential and commercial centres in the region. Revenues are generated by tolls through an all-electronic tolling system. The counterparty to the concession is the Northwest Parkway Public Highway Authority.
"Northwest Parkway represents an excellent investment opportunity for our investors. The asset offers exciting potential due to the strength of Denver’s economic and demographic factors,” says George Zakem, managing director and co-head of Northleaf’s infrastructure team. “Infrastructure assets such as Northwest Parkway that provide long-term exposure to US GDP growth, alongside like-minded investment partners, are a key focus of Northleaf’s investment strategy.”