LBJ Express

The concession company is the operating business; NTTA provides billing.

Explore on map ↗

Ownership & control

01 / Public title & project rights

The asset and the business are different claims.

State of Texas / TxDOT public title; LBJ Infrastructure Group holds the concession.

Scope of this record

I-635/LBJ and associated I-35E managed-lane concession, not the whole interstate corridor.

legal titleState of Texas / TxDOT

Public highway title retained by Texas

Snapshot 2026-10-22Executed facility agreement; project title and handback provisions ↗

concessionLBJ Infrastructure Group, LLC

Finite concession and toll-revenue rights

Snapshot 2026-10-22Executed agreement and amendments; termination year separately sourced ↗

operatorLBJ Infrastructure Group, LLC

Operation and maintenance under concession

Snapshot 2026-10-22Executed agreement ↗

public contract controlTexas Transportation Commission

Public agreement oversight; pricing and enforcement are contract-specific

Snapshot 2026-10-22CDA / facility agreement ↗

billingNorth Texas Tollway Authority

NTTA collection services; no transfer of concession ownership

Snapshot 2026-10-22Slide 41 ↗

equity interest · 54.60%Ferrovial / Cintra affiliate→ LBJ Infrastructure Group, LLC

Reported project-company equity; affiliate-level chain not fully enumerated

Snapshot 2026-07-31Slide 32 ↗

equity interest · 28.33%APG-managed investor affiliates→ LBJ Infrastructure Group, LLC

Reported project-company equity; affiliate-level chain not fully enumerated

Snapshot 2026-07-31Slide 32 ↗

equity interest · 17.07%Meridiam-managed investor affiliates→ LBJ Infrastructure Group, LLC

Reported project-company equity; affiliate-level chain not fully enumerated

Snapshot 2026-07-31Slide 32 ↗

creditor claimBondholders (creditor class; individual holders unverified)→ LBJ Infrastructure Group, LLC

Project financing claims; security holders not inventoried

Snapshot 2025-12-31Slides 43–45; amounts as of December 2025 ↗

lenderU.S. Department of Transportation / federal interest→ LBJ Infrastructure Group, LLC

TIFIA creditor, distinct from equity

Snapshot 2025-12-31Slide 44 ↗

Financial record

Project PABs, taxable bonds, TIFIA and a capital facility. Individual bondholder identities are not verified.

Sponsor-reported project debt$2.04BPeriod ended 2025-12-31

Recorded financial observations · USD · scope: LBJ Infrastructure Group, LLC
Metric / period end	Reported value	Basis & evidence
Sponsor-reported project debt2025-12-31	$2,038,000,000	sponsor-reported project debt, rounded USD millionsSlide 44 ↗

Public audited carrying values and rounded sponsor-reported project debt use different definitions. No statewide total, leverage ranking or return estimate is calculated.

Historical changes

The reported concession termination year is 2061. The Atlas records year precision; it does not invent a day or month.

Table 4, PDF p7 · termination year ↗

No historical changes have been verified for this profile in this release.

Evidence for this profile (3 records)

TxDOT LBJ-635 executed agreements ↗
CDA and amendments; counterparty LBJ Infrastructure Group
Reviewed 2026-10-22 · Primary source reviewed
Ferrovial Fact Book 2026, July 31 amendment (SEC exhibit) ↗
Slides 32 (equity and terms), 43–45 (financing). Sponsor disclosure, not a public-authority audit.
Reviewed 2026-10-22 · Primary source reviewed
TxDOT FY2025 HB 803 toll-project report ↗
Reviewed 2026-10-22 · Original PDF retrieved and checked in this release

Geography: Region anchor is an editorial locator. It is not a facility coordinate, alignment or asset boundary. Reviewed 2026-10-22. Source dates and financial periods are stated separately.