The deal, expected to be rubber stamped later this year, means that Great Hall Partners will invest $650 million on new commercial facilities in exchange for a 34 year concession.
The other members of Great Hall Partners are Saunders Construction and JLC, an investment fund created by Loop Capital and Magic Johnson Enterprises. Ferrovial Agroman will participate in the construction work.
Jorge Gil, CEO of Ferrovial Airports, said: "We are very happy to have successfully achieved commercial closure of the project and to be able to continue working on the development and implementation of a new Great Hall that will provide numerous benefits forDenver and its community.
"We are grateful for the trust placed in our teams and we are fully committed to realising the vision for Denver International Airport and making it America's favourite hub."
In the next few months, Great Hall Partners will advance towards financial closure, which is expected to be achieved in the fourth quarter of this year.
Full upgrade of the terminal
Ferrovial Agromon in consortium with local company, Saunders Construction, will handle the construction work.
The Great Hall project consists of upgrading the Jeppesen terminal at Denver International Airport, encompassing over 70,000 square meters of floor space.
The upgrades include creating new shopping and foodservice areas, relocating and expanding the TSA screening areas, improving building access and passenger flow, creating a new check-in area, and optimising space and efficiency in the terminal.
Opened in 1995, Denver International Airport is the largest commercial airport in North America in terms of acreage and ranks sixth in terms of traffic, welcoming 58 million passengers in 2016.
New opportunities in the US market
According to Ferrovial, The Great Hall project offers it new business opportunities in public-private partnerships (P3), a space in which the company has extensive experience through subsidiaries Cintra and Ferrovial Agroman.
It states: "The number of P3 projects has expanded rapidly in the US, a trend that is expected to continue in the coming years since this approach offers great advantages to governments wishing to execute infrastructure projects."