Sydney, Australia — Macquarie Atlas Roads (MQA) announced that it will exercise its pre-emptive right to acquire the remaining 50 percent economic interest in the Dulles Greenway for $445 million. The Greenway is a 14-mile toll road located in Loudoun County, Va., part of a key road corridor connecting suburban communities with the greater Washington, D.C., area.
Loudoun County is one of the fastest growing and most affluent counties in the United States, and over the last four years the Greenway has experienced compound annual traffic and revenue growth rates of 3.5 percent and 6.1 percent, respectively.
MQA’s Chief Executive Officer, Peter Trent, said “The Acquisition represents a value accretive investment for MQA, enhancing our ability to optimize Greenway’s key operating business decisions, capital structure and cash flows over the longer term, to ensure the reliability of its service to commuters and drive future asset performance.
“Today’s announcement marks another step in generating long term value for our securityholders. The acquisition will consolidate ownership to 100 percent in a core portfolio asset, lengthen MQA’s overall portfolio duration and improve our income diversification through greater exposure to a strong growth region within the U.S. economy” Trent said.