The Virginia Port Authority executed a landmark financing to reshape control of the Virginia International Gateway terminal. Through a negotiated lease amendment, the Authority secured an option to purchase the facility at a fixed price in 2065, funded an upfront rent payment, and defeased legacy port debt — all on a tight timetable that avoided a steep ticking fee. The plan combined a short-term line of credit with a permanent bond takeout, preserving flexibility through a carefully structured escrow. Strong investor demand greeted the Authority’s first port revenue bond issue since 2016, positioning this critical maritime asset for decades of growth.