Global investment firm Carlyle has closed a $750 million senior-secured debt financing for The Parking Spot, the largest near airport parking company in the United States.
The facility will support the refinancing of existing debt associated with a subset of The Parking Spot’s portfolio, consisting of 28 near-airport parking facilities located across 18 major U.S. airports in 13 states. Carlyle served as the sole manager, sole structuring agent and ratings adviser for the transaction.
The Parking Spot, a portfolio company of Green Courte Partners since 2011, was founded in 1998 and manages a diversified portfolio of near-airport parking facilities serving major U.S. airports. With 42 locations at 24 airports, The Parking Spot is the leading provider of parking in the country and currently has 4 million members in its loyalty-membership program.
“Carlyle is delighted to partner with The Parking Spot and support the ongoing success of their business,” said N