Deal of the Year 2025: SR 400 Peach Partners (P3 Financing)

Georgia's SR 400 Express Lanes financing shows how public and private partners can solve a regional mobility challenge at scale. The project reached financial close with the largest U.S. P3 bond financing ever, anchored by record private-activity bonds and a landmark federal loan. The structure delivers 16 miles of dynamically tolled express lanes under a long-term concession, while providing Georgia with a multi-billion-dollar upfront concession payment to reinvest in transportation. It also funds future bus rapid transit improvements, helping commuters save time and improving safety across the corridor.