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Westcore Starts Europe Airport Biz With $100M

LAUSANNE, SWITZERLAND-The firm is looking to develop, acquire and operate airport facilities in Europe.

By Ian Ritter | Updated on May 13, 2008

LAUSANEE, SWITZERLAND-Westcore Properties has started an airport acquisition, development and operation business here called Airport Development Partners and allocated $100 million to get it off the ground. The firm is currently in negotiations to acquire land near the Vienna airport to develop cargo and logistics facilities.

Other projects in the works include the development of a cargo facility at the airport in Bratislava, Slovakia; and development of facilities around an airport in Sion, Switzerland. Airport Development is also reconstructing some of the infrastructure at two airports in Poland.

“Many of the assets our company is acquiring have tangential real estate projects including airport logistics and commercial development that Westcore’s team of professionals can assist with,” says Thomas Frankl, the firm’s chief executive officer.

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