The Ohio State University completes 50-year lease and concession agreement of parking facilities and operations in exchange for $483 million up-front payment
Clients Ohio State University, The
Jones Day advised The Ohio State University in connection with the University's 50 year concession of its parking assets for $483 million to a consortium comprised of QIC Private Capital (Queensland Investment Corporation - an Australian pension fund manager) and LAZ Parking. The parking assets included over 35,000 parking spaces in parking garages, lots, and metered street spaces. This transaction is the first public-private partnership relating to the long-term lease and concession of a university parking system in the United States.