Interport Capital is strategically expanding its aviation infrastructure vertical, building on the foundation established through our AeroColorado operations at Centennial Airport, one of the busiest general aviation airports in the United States. Our aviation thesis is rooted in a fundamental conviction: general aviation infrastructure represents one of the most under-institutionalized segments of commercial real estate, offering durable cash flows, meaningful barriers to entry, and long-term demand trajectories that are largely uncorrelated with broader economic cycles. The U.S. general aviation fleet continues to expand, driven by corporate travel requirements, charter operations, and the emerging advanced air mobility sector, yet the supply of institutional-quality hangar and FBO facilities remains constrained by the complexity of airport authority negotiations, FAA regulatory requirements, and the operational expertise needed to develop and manage these assets effectively.
“General aviation assets operate under long-term municipal ground leases with predictable revenue streams anchored by fuel sales, hangar rentals, and aviation services. That cash-flow profile that institutional investors increasingly recognize as both durable and scalable.”
Our aviation journey began in 2014 when CEO Jack McClurg founded AeroColorado at Centennial Airport, developing a 55,000-square-foot hangar and office complex on a premium 3.8-acre lot adjacent to taxilane S-1. The facility housed nine aircraft and demonstrated the viability of institutional-grade aviation investment, achieving full occupancy and ultimately trading in September 2021 for $14 million, a transaction that validated the asset class and informed our decision to build a dedicated aviation platform within Interport Capital. In October 2022, we formalized our strategic partnership with Business Aviation Group, the nation's leading aviation real estate development and consulting firm, to systematically identify and develop FBO and hangar opportunities across the western United States. The partnership was announced at NBAA BACE, the industry's premier annual conference, signaling our commitment to this vertical.
The partnership has already yielded tangible results. Our AeroFNL complex at Northern Colorado Regional Airport in Loveland comprises 77,000 square feet across five buildings and 23 individual hangars, with unit sizes ranging from 2,600 to 5,300 square feet. The facility, which broke ground in fall 2022, is now 87 percent leased and tracking toward full occupancy ahead of schedule. Meanwhile, our AeroHDN development at Yampa Valley Regional Airport in Hayden serves as a strategic regional feeder to Steamboat Springs, capturing seasonal demand from the resort community's growing base of private aviation users. We anticipate deploying approximately $150 million in aviation investments over the next 24 months, targeting a portfolio of 8 to 12 strategically located facilities. Each investment is structured around long-term municipal ground leases, typically 40 to 50 years, providing the income stability and capital protection that our investors expect from every asset in the Interport Capital portfolio.
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