We are pleased to have acted as financial modelling partner to Fengate Capital, developing new operational models for the Los Angeles International Airport Consolidated Rent-A-Car Facility (LAX ConRAC) and the Prince George’s County Public Schools (PGCPS) P3 projects.
The LAX ConRAC project is a USD 2 billion public-private partnership to design, build, finance, operate, and maintain a 5.3 million square foot consolidated rental car facility. Once operational, the facility will be one of the largest of its kind in the United States, housing over 18,000 rental vehicles and consolidating more than 20 rental agencies into a single location. Operated under a 28-year availability-based agreement with Los Angeles World Airports, the facility is expected to transform the rental car experience for hundreds of thousands of travellers each year. Sustainability is embedded in the project’s design, targeting a LEED Silver rating and incorporating drought-tolerant landscaping, reclaimed water usage, and a solar farm generating over 8,400 MWh annually.
In addition, Evolution Infrastructure supported Fengate on the PGCPS alternative financing project in Prince George’s County, Maryland. This landmark P3 initiative will deliver six new schools – five middle schools and one K-8 facility under a 30-year design, build, finance, operate, and maintain contract. Faced with ageing infrastructure and increasing student enrolment, PGCPS embraced the P3 model to halve delivery times, reduce costs, and save approximately USD 174 million in deferred maintenance and construction expenses compared to traditional procurement. The project also delivers wide-ranging community benefits, including a USD 1 million endowed fund for scholarships, internships, and apprenticeships, alongside a 30% procurement commitment for minority-owned and community-based businesses.
Ramon Sequeira, Director at Evolution Infrastructure said:
“We are delighted to have supported Fengate Capital on two landmark US infrastructure projects. Both LAX ConRAC and PGCPS showcase the strength of the public-private partnership model in delivering high-quality infrastructure with meaningful community and environmental benefits.”
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