MoFo Represents Sky Harbour in Hangar Campus Acquisition at Camarillo Airport

Morrison Foerster represented Sky Harbour Group Corporation (“Sky Harbour”), an aviation infrastructure company building the first nationwide network of Home-Basing hangar campuses for business aircraft, in the acquisition of CloudNine at Camarillo (“CloudNine”), an approximately 120,000 square foot hangar and office complex, and Sky 805, the holder of related ground leases and fixed-based operator rights at Camarillo Airport, serving the greater Los Angeles metropolitan area.

Under the terms of the acquisition, SHG paid approximately $31 million in cash consideration, substantially all of which was utilized to satisfy existing senior and subordinated debt obligations of CloudNine and Sky 805 at an aggregate discount of 10% to such debt’s face value.

The MoFo team was led by San Francisco corporate partner James Beach with assistance from Los Angeles corporate associate Kelly Kan and San Francisco corporate associate Grace Tepley. Washington, D.C. of counsel Rafael Hernandez Mayoral advised on airport infrastructure matters.

Read the press release.