The two-year-old Boca Raton, FL-based wireless infrastructure manager grew by more than 1,000 sites yesterday to over 45,000 sites with the signing of a five-year deal with The RMR Group. The agreement will have Vertical Bridge holding the master lease to RMR managed buildings and marketing properties that include hotels, travel centers, healthcare, senior living, and office properties, the companies said in a joint announcement. Vertical Bridge’s portfolio includes 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. 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.”
As of March 31, 2016, The RMR Group LLC reported it 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, MA.
Financial details about the agreement were not disclosed.
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