Seven groups qualify for Ohio State parking RFQ
The Ohio State University qualified seven bidding groups after receiving 10 responses to its Request for Qualifications for its potential parking concession.
The university is considering entering into a long-term lease for the operations and maintenance of its parking systems as part of a comprehensive look at all of its non-core assets to see how they could be leveraged to generate additional revenue to support Ohio State’s academic mission.
The qualified bidders were selected on the basis of history of successfully operating large parking systems as well as demonstrating adequate financial capacity to undertake such a transaction. The bidding groups consist of financial sponsors teamed up with experienced parking operators.
The qualified bidding groups that have been invited to continue in the process are:
* Alinda & InterPark
* Carlyle Infrastructure Partners & Standard Parking
* Industry Funds Management & Parking Solutions
* Macquarie Capital & Central Parking
* Ontario Teachers’ Pension Plan & Imperial Parking
* Kohlberg Kravis Roberts & Ampco/ACS
* QIC Private Capital & LAZ Parking
"We are pleased that we received such a large number of responses. We will continue the selection process by interviewing the qualified bidders and inviting them to come to campus to conduct diligence. The number of bidders likely will be reduced after the interview process and, assuming we decide to proceed, we will issue the final RFP in the first quarter of 2012," said Geoff Chatas, senior vice president and CFO.
The bidding process is expected to conclude by the spring 2012. Morgan Stanley, Jones Day and Desman are serving as advisors to the university on this process.