Adds more than 1,000 Sites to Portfolio
BOCA RATON, FL (PRWEB) JUNE 06, 2016
Vertical Bridge, the largest private owner and manager of wireless communications infrastructure in the U.S., today announced the signing of an exclusive five-year agreement with The RMR Group (NASDAQ: RMR) to market and master lease telecommunications sites at more than 1,000 RMR managed buildings. Terms of the transaction were not disclosed.
The RMR Group’s managed assets include hotels, travel centers, healthcare, senior living, and office properties. Vertical Bridge’s portfolio now stands at over 45,000 owned and/or managed sites including tower, rooftop, billboard, utility attachments and other site locations across the U.S.
“As one of the premier real estate companies in the U.S., The RMR Group has an attractive portfolio of managed assets that are well-suited for telecommunications infrastructure deployment,” said Jim McCulloch, Vice President of Real Estate for Vertical Bridge. “We are very excited about this transaction, which adds more than 1,000 sites to our portfolio. We are also enthusiastic about the future potential of the relationship. We continue to seek opportunities for our clients to generate additional revenue from their assets, and for our customers to enhance their capacity.”
“Managing commercial real estate properties to the highest standards in the industry is an important goal for The RMR Group,” said David Lepore, President of Real Estate Services for RMR. “Working with Vertical Bridge may assist us to deliver on this goal by helping us maximize our revenue potential at properties which are owned by our clients and managed by us throughout the US.”
About Vertical Bridge
Vertical Bridge is the largest private owner and manager of wireless communication infrastructure in the United States. The company owns, operates and manages over 45,000 tower, rooftop, billboard, utility attachment and other site locations in support of all wireless network deployments. Based in Boca Raton, Florida, Vertical Bridge was founded in 2014 by key executives from Digital Bridge Holdings, LLC and former senior officers of Global Tower Partners. The senior management team at Vertical Bridge has over 150 years of collective experience in tower infrastructure and related sectors. For more information, please visit http://www.verticalbridge.com.
About The RMR Group
The RMR Group Inc. is a holding company and substantially all of its business is conducted by its majority owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company which primarily provides management services to publicly traded REITs and real estate operating companies. As of March 31, 2016, The RMR Group LLC had approximately $22 billion of real estate assets under management and the companies managed by The RMR Group LLC collectively had over 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
The RMR Group
Timothy A. Bonang