NEW YORK, June 22, 2022 – Proskauer, a leading international law firm, announced today that it advised JLC Infrastructure (“JLC”) on its capital raising and related activities in connection with its investment in the New Terminal One project at John F. Kennedy International Airport in New York City. The $9.5 billion state-of-the-art project will result in a 23-gate, 2.4 million square foot terminal with construction anticipated to finalize in 2030.
The terminal is sustainably designed, future-focused and will feature spacious, naturally-lit public spaces, cutting-edge technology and an array of amenities, including 300,000 square feet of dining, retail, lounges and recreational space. The first gates are expected to open to the public in 2026.
JLC is an investor and asset management firm focused on the sustainable energy, utilities, transportation and social infrastructure sectors in the U.S. The firm was formed in 2015 by Earvin “Magic” Johnson of Magic Johnson Enterprises and Jim Reynolds of Loop Capital. JLC seeks to invest in critical infrastructure projects that provide long term benefits to the communities they serve.
The Proskauer team included partner Monica Arora, special funds counsel Sean Spence, and associates Jennifer Hicks, Kevin Beckoff and Celeste Kim (Private Funds); partners Jeremy Naylor and Stephen Severo and associate Emily Benedict (Tax); partner Adam Creed and associate Nick Wardle (Transactional); and partners Ron Franklin and Jinyoung Joo and associate Carolyn Killea (Finance).
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