Airport City at Miami International Airport
Lambert provided financial and negotiation guidance to the development team for Airport City, an $800 million mixed-use development connected to Miami International Airport.
Odebrecht Construction Inc., a subsidiary of Odebrecht which is Latin America’s largest industrial company, has served as the long term construction manager for Miami International Airport for nearly two decades providing more than $4.0 billion in construction services. In its first public-private venture in the U.S., Odebrecht, committed to the airport to build an Airport City at MIA’s front door. Miami International has the 2nd highest international passenger traffic and highest international cargo in the United States. Airport City at MIA was proposed to include a 400 room 4-star hotel, over 1,000 parking spaces, 80,000 square feet of retail, and a 1.0 million square foot office and hotel complex on 32 acres adjoining the airport’s passenger terminals.
Lambert Advisory served as financial advisor to Odebrecht Construction, Inc. in its negotiation with Miami-Dade County Aviation Department (MDAD) to secure the lease held interest for the project. Lambert’s primary role was to assist the Odebrecht development team with complex financial evaluation and deal term structuring. Additionally, Lambert assisted in the negotiation of the terms and conditions defining development timing, developer contribution, terms of land lease and other related terms incorporated into corresponding development agreements.
Total development cost is estimated to be more than $800 million. Project approvals are currently in process.