Fengate invests in Newark Airport rent-a-car facility project
Conrac Solutions, a Renton, Washington-based developer of consolidated rent-a-car facilities, has closed financing for a US$500 million project planned for Newark Liberty International Airport. The financing was arranged by Conrac Solutions Capital with equity provided by Related Fund Management and Fengate Asset Management. A consortium of banks also provided debt financing. The Newark project is expected to begin this year, with completion of the consolidated rent-a-car facility in 2023. Fengate is a Toronto-based investor in infrastructure, private equity and real estate.
8 May 2019•5 mins read
