Sky Harbour Group completed the acquisition of Cloudnine at Camarillo for $31m.

Sky Harbour Group, a developer of private aviation infrastructure focused on building, leasing and managing business aviation hangars, completed the acquisition of Cloudnine at Camarillo, an approximately 120k square foot hangar and office complex for $31m. “Given its attractive acquisition price, and an already established initial revenue stream from high-quality tenants, this acquisition is expected to be immediately operating-cash and earnings- accretive to Sky Harbour on a consolidated basis, with significant upside potential in the coming months and years. The acquisition, particularly at this stage of our company’s development, is also expected to be credit accretive. Improved cost of debt capital contributes directly to our equity value as we prepare for anticipated continued expansion of our development program in 2025,” Francisco X Gonzalez, Sky Harabour CFO.