Law360 Profiles Infrastructure Group For Project Finance Practice Group of the Year Series
Nossaman's Infrastructure Practice Group was profiled in Law360 as a result of being named a "Project Finance Practice Group of the Year" for 2016. The article notes that over the past year the Group has "projects under management across several states, including a major University of California expansion that closed late last year, [and] is one of the leading project finance groups in the nation.
The article also highlights the extensive experience of the Group’s attorneys in the project finance arena, and long history in the space. The Group’s history dates back to some of the first P3 projects in the nation, such as a series of toll roads completed in Orange County in the 1990s. Commenting on the importance of this project, Infrastructure Practice Group Chair Patrick Harder said that these P3 projects were some of the early transactions that started the trend, and we’ve been helping to innovate and provide legislation and [be] involved in organizations and other things that allow us to help create and grow the market.
The UC Merced 2020 Campus Expansion project and the Maryland Purple Line Light Rail project were also featured prominently in the Law360 piece.
The $1.3 billion UC Merced project reached financial and commercial close in 2016 and will include new classrooms, laboratories and housing alongside extended basic infrastructure to ensure that adequate gas, heating and electricity is provided for the new construction. Speaking about the project, Mr. Harder said that what makes it unique is the mix of the facilities, both revenue generating and non-revenue generating together in one transaction. I don’t know of any project anywhere in the world that’s been done like this, very unique, exciting and, like many of our projects, very cutting edge."
Commenting on the $5.6 billion Purple Line project, which reached commercial and financial close in 2016, Simon Santiago, Leader of East Coast Operations for the Infrastructure Practice Group, said that the real-world experience of Nossaman’s attorneys was important during the transaction. He added that the Firm has experienced attorneys who know how to handle complex transactions. It’s not all theoretical; we provide practical advice."
Also mentioned in the article was Nossaman’s ongoing work on the $7 billion Los Angeles International Airport modernization project, which aims to redirect traffic around the terminals to a massive rental car facility serviced by an automated people mover that shuttles passengers back and forth.