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ElectricStreets.com to Provide Custom Intranets for Broadband Residential's 455,000 Member Apartments.



Business Editors

LOUISVILLE, KY.--(BUSINESS WIRE)--Jan. 17, 2001

Agreement Makes Electricstreets World's Largest Apartment Portal;

Broadband Powerhouse Gears Up for Service Delivery

ElectricStreets.com, the leading national application service provider of Intranets for residential communities, has been selected by 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
), as the exclusive Intranet provider for its member companies, representing more than 455,000 apartment units across the US.

With eight leading multi-family real estate property members, BBR is the only 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.
) owner-sponsored broadband company providing high-speed, data broadcast video, and entertainment services to the MDU community. Larry Bouchard, President of ElectricStreets, and Michael Glosserman, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of BBR, made the announcement of this business relationship.

ElectricStreets' exclusive agreement with BBR provides the company preferred marketing and access rights to the properties owned and managed by its member property-owner group. BBR's current property owner group includes six publicly traded Real Estate Investment Trusts (REITs): AMLI AMLI Association of Medical Laboratory Immunologists  Residential Properties Trust, AvalonBay Communities AvalonBay Communities, Inc. (NYSE: AVB) is an Alexandria, Virginia-based public real estate investment trust. The company specializes in acquiring, developing, redeveloping and managing high-quality apartment communities in high barrier-to-entry markets, such as the Northeast,  Inc.; Camden Property Trust; Charles E. Smith Charles E. Smith can refer to:
  • Charles E. Smith (1820-1900), president of the Philadelphia and Reading Railroad.
  • Charles Emory Smith (1842-1908), American journalist and political leader.
  • Charles Emrys Smith (Dr.
 Residential Realty Inc.; Equity Residential Properties Trust; and Gables Residential. In addition, BBR includes properties owned by Berkshire Realty Holdings and Whitehall Street Real Estate Funds, an affiliate of Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. .

"This agreement effectively makes ElectricStreets the country's largest provider of custom Intranet service to residential properties, with exclusive access to nearly a half million apartments and homes," Mr. Bouchard said. "We are so honored to be BBR's selected provider for this service, and especially to have been chosen after such an extensive review of the marketplace further validates our product as best in class for residential properties.

"Our team is focused on providing a national platform of state-of-the-art broadcast video, entertainment services and high-speed data access solutions to multi-family housing communities, and ElectricStreets will be an integral component of this platform," said Mr. Glosserman. "Our member companies are forward-thinking, and committed to harnessing the power of technology to create a deeper sense of community among their residents and be even more proactive among their residents from a service perspective. The BBR-ElectricStreets agreement will create and deliver value for our members, their residents, shareholders and employees."

ElectricStreets will offer BBR's property owners private Intranet sites, customized for each ownership and property. By logging into these sites - powered through BBR broadband solutions -- residents can transact An earlier e-commerce system for the Web from Open Market that included order capture and secure order fulfillment using credit cards, ecash and other payment systems. It included customer service and subscription administration capabilities as well as an integrated database for reporting  business with their property manager on a national basis (including paying rent, or sending maintenance requests), connect with neighbors (to join clubs, find a babysitter babysitter A person, often an intelligent family member, who stays by the bedside of a Pt requiring mechanical ventilation, and guards for equipment malfunctions or other problems , set up a golf foursome or just socialize so·cial·ize  
v. so·cial·ized, so·cial·iz·ing, so·cial·iz·es

v.tr.
1. To place under government or group ownership or control.

2. To make fit for companionship with others; make sociable.
), find dining and entertainment options and shop on-line for local and national goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. .

"Our simple mission is to provide the world's best residential intranets to the largest audience. And this agreement makes our mission a reality at this point in time and gives us a strong platform to move forward from a leadership position," says Bouchard.

ElectricStreets is the leading national application service provider of customized Intranets to residential communities. Partnering with real estate owners, developers and managers and broadband, telecom and utility providers, ElectricStreets delivers property-centric Intranets to create on-line communities within apartment and professionally managed master-planned communities. For more information about ElectricStreets, visit the company's web site at: www.electricstreets.com

BBR is the only 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. For more information about BBR, visit the company's web site at: www.bbrez.com
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jan 17, 2001
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