AMP and Northleaf close $370 mln buy of Chicago’s Millennium Garages
AMP Capital and Northleaf Capital Partners have closed their buy of Chicago Downtown Public Parking System (Millennium Garages), the largest underground parking system in the United States. The deal, announced earlier this year, saw LMG2 LLC sell the system to MPG LLC, a joint venture established by AMP and Northleaf, for US$370 million. The acquisition gives MPG exclusive rights and obligations to manage, maintain and collect revenue in connection with Millennium Garages. Chicago-based SP Plus Corp has been appointed by MPG as the system's operator. Based in Toronto, Northleaf is a private equity and infrastructure investor with over $7 billion under management.
19 May 2016•2 mins read
