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Camino Colombia Toll Road Sold at Auction

Published Thursday, January 08, 2004

The $90 million Camino Colombia Toll Road, Texas’s first and only private superhighway, was sold at a foreclosure auction Tuesday for $12 million after three years of less than expected traffic. Camino Columbia, Inc, owners of the 21.8 mile road, had counted on strong revenue from truck traffic stemming from the North American Free Trade Agreement but delays in implementation and a weak economy made it impossible to pay back $75 million in outstanding loans from 1999. John Hancock Life Insurance Co., one of the investors, purchased the road after the Texas Department of Transportation would not bid higher ...

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