Jeff, USRT news today. They are progressing nicely.
Monday February 8, 8:36 am Eastern Time
Company Press Release
U.S. RealTel Creates First South American Subsidiary
RealTel de Argentina Signs More Than 100,000 Properties to Telecom Grid
CHICAGO--(BUSINESS WIRE)--Feb. 8, 1999--Chicago-based U.S. RealTel (NASDAQ:USRT - news), the nation's largest landlord of pre-leased telecommunications access sites, announced today the formation and incorporation of a new subsidiary in South America, RealTel de Argentina.
Like its parent company, RealTel de Argentina markets telecom access to properties in the USRT Telecom Grid(TM) to telecommunications companies seeking antenna sites for expanding their wireless systems and to provide access to office and other multi-tenant buildings for telecom services to tenants.
Soon after its incorporation and in less than a week's time, RealTel de Argentina added a diverse mix of more than 100,000 properties in Argentina to the USRT Telecom Grid by finalizing an agreement with a large private trust in Argentina. The trust's properties--ranging from office buildings to churches--are distributed throughout Argentina, making the Grid even more attractive to telecoms in search of antenna sites and site access.
According to Charles McNamee, U.S. RealTel's Telecom Group President, the market in South America is ideal for RealTel because countries such as Argentina are experiencing major increases in wireless phone usage. Also, by the end of third quarter 1999, McNamee said, four more telecoms are expected to be introduced there; currently, Argentina has three main providers. ''The increase in competition among telecoms will lower the cost of wireless phone rates, increasing usage even more. The new telecoms will want to find sites for their antennas quickly in order to provide more services to their customers in a timely fashion,'' McNamee said.
McNamee added, because Argentina's business community doesn't have ''smart'' buildings yet, RealTel's Occupant Services division is well positioned to help property owners update the telecommunications infrastructure of their buildings while gaining a new source of rental income from the telecoms who want to provide advanced services to their tenants.
U.S. RealTel's president Jordan Glazov agreed, ''We formed U.S. RealTel's new subsidiary, RealTel de Argentina, to service the tremendous pent-up demand for telecommunications systems in South America. To continue with our expansion internationally, we are also looking at the major markets of Chile, Brazil and Columbia as possible locations for additional subsidiaries.''
The master lease with the Argentina-based trust gives RealTel the right to market telecom access to its office, retail, industrial and other properties to telecommunications companies. The Argentina buildings join the USRT Telecom Grid, a worldwide network of sites that U.S. RealTel and its subsidiaries make available to telecoms for sublease for a variety of uses, including an array of telecommunication services to building tenants as well as antenna placement for wireless telecommunication systems.
Through the USRT Telecom Grid, U.S. RealTel helps real estate owners maximize the value of their properties by providing new sources of ancillary income. The Grid is a network of office, multifamily, retail, residential, governmental and industrial properties for which U.S. RealTel holds telecommunications access and antenna placement rights. By selecting sites from this grid, communications companies can save significant time and money in their infrastructure and service deployments.
For more information, visit the U.S. RealTel website at: usrealtel.com.
The statements contained in this news release that are forward looking are based on current expectations that are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include, but are not limited to competitive and other market factors, customer purchasing behavior, general economic conditions, technological advances, real estate trends, and other facets of the Company's business operations. Further information may be obtained at the Company's Internet site: usrealtel.com |
