Riser Management Systems Negotiates Winstar Access to MEPT-Riggs Portfolio
BURLINGTON, Vt.--(BUSINESS WIRE)--Jan. 30, 2001--Riser Management Systems, L.P. has successfully negotiated a portfolio access agreement between Winstar Wireless, Inc., and Riser's client, Riggs & Company, a division of Riggs Bank N.A., as Trustee for the Multi-Employer Property Trust (MEPT). Under the Master Agreement, Winstar has committed to provide its telecommunications services to 20 MEPT buildings within six months. Winstar also has a two-year option to provide services to 108 additional MEPT buildings. Robert I. Goetz, Esq., Riser's Communications Counsel, led the negotiations.
"This agreement with Winstar furthers our goal of offering MEPT tenants increased access to broadband telecom services," said Pat Mayberry, Executive Director of Riggs & Company. "We are very pleased with the successful result of this thorough and swift negotiation process." Jerry Marmelstein, president of Riser, added, "Portfolio access agreements like this one illustrate building owners' commitment to bringing tenants the services they need. Riser is proud to apply our expertise, experience, and relationship with telecom providers to helping real estate owners efficiently negotiate agreements that benefit all parties."
Tenants demand Internet and data services that require reliable and secure broadband facilities. Property owners and managers are taking an increasingly active role in developing and implementing telecom strategies that give tenants access to a choice of sophisticated services from multiple providers. Building owners increase their building's value and its attractiveness to tenants, while allowing telecom providers to gain access to new tenant-customers.
The Multi-Employer Property Trust, Washington, D.C., is a pooled real estate equity fund. Riggs & Company, a division of Riggs Bank N.A., Washington, D.C., is the manager and trustee for MEPT. Kennedy Associates Real Estate Counsel, Inc., Seattle, WA, serves as the real estate advisor to MEPT. MEPT's national portfolio spans over 20 million square feet in over 130 buildings across the United States.
Riser Management Systems, L.P. (www.riser.com) installs and manages Communications Distribution Systems (CDS) in commercial office properties. Riser's competitively neutral, broadband infrastructures give tenants ready access to a choice of high-speed services and providers, improving tenant satisfaction and the building's competitive position. A leader since 1994 in providing wired and wireless design and consulting services to the commercial office and high-rise residential real estate industry, Riser has established an unsurpassed reputation for excellence in service and client satisfaction. |
