Broadband Residential Announces Strategic Relationship With Leading Multi-Family Property Owners.Business Editors WASHINGTON--(BUSINESS WIRE)--Nov. 1, 2000 BroadBand Residential, Inc. (BBR BBR Bureau of Business Research BBR Broadbandreports.com (website) BBR Bending Beam Rheometer BBR Burnt Beyond Repair BBR Black Body Radiation (quantum physics) BBR Baby Back Ribs BBR Back Bone Ring ) announced today it has joined with eight leading multi-family real estate property owners to provide their residents high-speed data, broadcast video and entertainment services. This alliance represents the single largest multi-dwelling unit (MDU (1) (Multiple Dwelling Unit) A commercial or residential building with multiple offices or apartments. See BLEC. (2) (Multiply-Divide Unit) A high-speed circuit that performs multiplication and division within the CPU. ) broadband agreement to date. In addition, it is the only multiple MDU owner-sponsored initiative focused on delivering broadband services. The relationship provides BBR with preferred marketing and access rights, including rooftop access rights, for a ten-year period to approximately 2,000 properties containing more than 455,000 apartment units located in 25 metropolitan areas. This long-term, strategic relationship will bring state-of-the-art access and content to MDU communities in a cost-efficient manner. The property-owner group includes six publicly-traded REITs - AMLI AMLI Association of Medical Laboratory Immunologists Residential Properties Trust (NYSE NYSE See: New York Stock Exchange : AML AML - A Manufacturing Language ), AvalonBay Communities Inc. (NYSE: AVB AVB Allgemeine Versicherungsbedingungen AVB Armin Van Buuren (musician) AVB Atrioventricular Block AVB Association Vaincre le Bègaiement AVB Acappella Vocal Band (men's Christian a cappella group) ), Camden Property Trust (NYSE: CPT CPT See: Carriage Paid To ), Charles E. Smith Charles E. Smith can refer to:
In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ). In addition, it includes properties owned by Berkshire Realty Holdings and Whitehall Street Real Estate Funds, an affiliate of Goldman Sachs. In exchange for the access agreements, the contributing property-owner group has received a significant equity stake in BBR. An affiliate of Morgan Stanley Dean Witter, which provided advisory services to the contributing property owners, is also a member of the ownership group. "Meaningful economies of scale, strong support of the real estate owners, and responsive customer service will enable BBR to become the leading MDU onsite services provider," said Michael Glosserman, chairman and chief executive officer, BroadBand Residential. "Our management team is focused on providing state-of-the-art broadcast video, entertainment services and high-speed data access solutions to multi-family housing communities. This national platform will enable BBR to efficiently grow and expand." "Our strategic investment in BroadBand Residential allows us to offer residents comprehensive broadband services while offering value to shareholders through our equity interest in the company," said Douglas Crocker II, president and chief executive officer of Equity Residential Properties Trust. "Our primary objective is to offer residents the most competitive data and video communication services available in the marketplace today," said Dick Michaux, chairman and chief executive officer, AvalonBay Communities. "BroadBand Residential's business strategy and management team are dedicated to providing residents a full array of broadband services with superior onsite customer care." About BroadBand Residential BBR is the only multi-dwelling unit (MDU) owner-sponsored broadband company providing high-speed, data broadcast video and entertainment services to the MDU community. Founded in 1999, BBR was created to meet the exploding broadband demand in the MDU marketplace. BBR's business strategy and technology solutions reflect the convergence and bundling of data, video and voice services. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion