AECOM announced that AECOM Capital has entered into a definitive agreement to sell its equity interest in its first investment. The transaction is expected to close in AECOM’s fiscal third quarter, subject to customary closing and other financial conditions, and will contribute approximately $0.17 to EPS in that quarter.
This is an important milestone, and the first of what we expect to be many successful returns from our AECOM Capital investments,’’ said Michael S. Burke, AECOM’s chairman and chief executive officer. “In tandem with our partners, we successfully developed high-value real estate, leveraging both our equity capital and construction services. This effort further validates our design, build, finance and operate vision and reinforces AECOM’s reputation as a development partner of choice.’’ Since launching AECOM Capital in 2013, AECOM has committed approximately $200 million in 15 projects with total development value in excess of $3.5 billion. Projects primarily include multifamily, condo, hotel, office, and mixed use assets across the U.S. AECOM Capital is actively seeking to expand into public private partnerships and the industrial and power markets. In addition to providing equity, AECOM is differentiated from peers by being able to deliver its vast design and construction services. Read More