Popular on eTradeWire

Similar on eTradeWire

New Innovation, Tech & Research Hub Rises in Texas

eTradeWire News/10582972
SAN ANTONIO - eTradeWire -- American Triple I Partners (ATI) has closed on a $60 million, 130,000-SQFT innovation center at the Port San Antonio technology campus, one of the nation's top high-tech business and science research incubators.

The New York-based developer, investor and manager of infrastructure projects partnered with Port San Antonio to spearhead the center's business plan, market feasibility analysis, design, structuring, and financing.

The complex will include high-tech business incubator space; R&D labs; a 2,500-seat technology arena for events, product launches, and esports; plus the San Antonio Museum of Science & Technology education space; BB&T, now Truist, will provide debt financing.

Port San Antonio is home to over 80 employers and over 14,000 jobs in aerospace, defense, cybersecurity, robotics, and advanced manufacturing.

The project was approved in August 2020, prior to the transaction closing by ATI, which is also a 30% equity investor in the redevelopment of Terminal 6/7 at New York's JFK International Airport.  ATI is also the lead infrastructure equity investor in Texas A&M University's new En-Med Campus in Houston.

More on eTradeWire News
Port San Antonio CEO Jim Perschbach, said, "American Triple I was instrumental in allowing us to realize our vision for the Innovation Center. The ATI team's vast specialized knowledge of infrastructure development and financing and their creative commercial and financial structuring ideas helped our Port team look at the execution of our project plan in new ways, resulting in a truly effective and cost-efficient Public Private Partnership."

"We are proud to partner with Port San Antonio to create this dynamic space, which will provide high-quality jobs, educate the next generation of science, engineering, and technology innovators and be an accelerator for the industries that are leading our economy into the future." said ATI CEO David J. Cibrian. "This project will make a notable and real impact in the community consistent with ATI's commitment to our investors and sound Environmental, Social and Corporate Governance (ESG) principles."

ATI Chairman Henry Cisneros, a former U.S. HUD Secretary said,  "We must invest in key infrastructure that will enable urban centers like San Antonio to continue to thrive and attract the best talent to work, to be educated and to start businesses. The Innovation Center will serve as a model for other cities to leverage their assets into diverse economic engines and incubators for new ideas."

More on eTradeWire News
RVK Architects designed the center and Sundt Construction is the construction company.



Jason Fink, Butler Associates

Source: American Triple I Partners
Filed Under: Financial, Business

Show All News | Report Violation