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Business

Parallel Infrastructure Appoints Industry Veteran Yannis Macheras as President of Telecommunications

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Parallel Infrastructure LLC, a leading right-of-way (ROW) management and infrastructure development company, today announced the appointment of Yannis Macheras as President of the company’s Telecommunications Infrastructure business.

Coral Gables, FL (March 3, 2014) — Parallel Infrastructure LLC, a leading right-of-way (ROW) management and infrastructure development company, today announced the appointment of Yannis Macheras as President of the company’s Telecommunications Infrastructure business. In this capacity, Macheras will be responsible for building on the momentum that Parallel has established in this business segment, and further accelerating its tower portfolio growth plans.

Macheras has worked in the telecommunications industry for 15 years, serving in diverse executive positions at American Tower Corporation (AMT), and brings a wealth of industry knowledge, insight and experience to Parallel’s operations. Macheras joined AMT in its early days and played a large part in helping to create a global leader in the wireless communications infrastructure industry. His success with AMT includes establishing a strong back-office, ensuring the successful integration of SpectraSite into AMT in 2005, leading several distinct geographic regions as a VP/GM, consolidating and leading AMT’s Managed Sites rooftop business and overseeing tower development in Latin America.

“Yannis’ global leadership experience will be an invaluable asset as we accelerate our pace and fill the market need for increased capacity and coverage in the wireless communications arena,” said Frank Chechile, CEO of Parallel Infrastructure. “He will continue to foster Parallel’s focus on speed and agility in the tower development space.”

Macheras holds a Bachelor of Arts from Columbia University and a Juris Doctor from Tulane University.

Parallel Infrastructure continues to expand its management portfolio, which spans more than 2,100 miles of ROW across 22 states, as well as strengthen its relationships with carriers, executing new leases across the nation. “Building on our reputation to deliver carrier-grade infrastructure and under Macheras’ leadership, Parallel is well positioned to establish itself as a leading wireless communication infrastructure owner and operator in the United States,” Chechile added.

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About Parallel Infrastructure
Parallel Infrastructure LLC is national right-of-way (ROW) management and infrastructure development company that invests in and manages underutilized land assets along railroad and highway corridors, creating significant value for both public and private owners. The company’s capabilities include real estate management services, telecommunications, energy and outdoor advertising infrastructure development, and the implementation of innovative ROW uses that generate incremental income streams. Headquartered in Jacksonville, Fla., Parallel Infrastructure is a wholly owned subsidiary of Florida East Coast Industries, Inc. For more information, visit http://www.parallelinfrastructure.com.

About Florida East Coast Industries, Inc.
Florida East Coast Industries, LLC (FECI) is one of Florida’s oldest and largest full-service commercial real estate, transportation, and infrastructure companies. Headquartered in Coral Gables, Fla., FECI has a rich history dating back over a century. Mr. Henry Flagler first established a predecessor company in 1892, which became a pioneer in the development of Florida’s eastern coast. Today, FECI continues to transform Florida as the parent company to the following leading real estate, transportation, and infrastructure businesses within the state: Flagler, a full-service commercial real estate company; All Aboard Florida, the United States’ first privately owned, operated and maintained intercity passenger rail system; Flagler Global Logistics, an integrated logistics company that offers a wide range of logistics services and real estate solutions; and Parallel Infrastructure, a leader in third-party Right of Way (ROW) investments and management services. FECI is owned by private equity funds managed by affiliates of Fortress Investment Group LLC. For more information, visit http://www.feci.com.

Media Contacts:
Kristy Kennedy
rbb Public Relations
305-448-5839
kristy.kennedy@rbbpr.com

Kathleen Rodriguez
Florida East Coast Industries
305-520-2306
kathleen.rodriguez@feci.com

Business, Real Estate

Parallel Infrastructure Expands Telecom Footprint with Three New Development Agreements in Pennsylvania

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Contracts with Allegheny County, SEDA-CoG JRA and Pioneer Railcorp Add to Company’s Communications Development Portfolio.

JACKSONVILLE, Fla. (February 17, 2014) — Parallel Infrastructure LLC, a leading right-of-way (ROW) management and infrastructure development company, continues to expand its client portfolio with three new telecommunications tower development agreements in Pennsylvania. Allegheny County awarded the company more than 3 million square feet of developable land parcels, while contracts with SEDA-Council of Governments Joint Rail Authority (SEDA-CoG JRA) and Pioneer Railcorp bring an additional 207 miles of corridor to the company’s 1,800-mile communications development portfolio throughout the country.

“There continues to be strong demand to improve telecommunications infrastructure and that means growth opportunities abound for right-of-way property owners,” said Frank Chechile, CEO of Parallel Infrastructure. “By entering into innovative revenue-share agreements, we help monetize our clients’ underutilized real estate without interrupting their core operations. The result is increased revenue for them with little to no risk, and plenty of upside for incremental revenue generation.”

Chechile added that Parallel Infrastructure is seeing increased demand for its capabilities from state and local governments in particular. “With tightening budgets, government entities are making efforts to capture additional revenue by unlocking the value of their real estate,” he said.

As a result of an extensive RFP process, Allegheny County awarded Parallel Infrastructure the telecommunications facility development rights on 14 parcels, totaling more than 3 million square feet of underutilized county-owned land. By partnering with top engineering, architecture and construction firm Jacobs Engineering, Parallel Infrastructure was able to scout and assess developable sites. Moreover, because of its private capital backing, the company was able to offer the County a “win-win” revenue generation prospect, providing quick and recurring payments to the County for each site it develops.

“The County was attracted by the prospect of earning new revenue, and doing so in an efficient and quick manner,” said Ed Myers, Vice President of Telecommunications Sales for Parallel Infrastructure. “We will use our capabilities and our capital to design, finance, build, maintain, and lease facilities to communications service operators, which in turn, will provide the County with a long-term revenue stream without having to spend any of their money.” Myers added that along with telecom development, Parallel Infrastructure will also provide the County with access to its communications facilities to allow it to develop emergency management systems.

SEDA-CoG JRA is a municipal authority with the mission of preserving rail service for industries in Central Pennsylvania and furthering economic development through retention, improvement, and expansion of rail infrastructure. It agreed to allow Parallel Infrastructure to begin evaluating sites for development on nearly 200 miles of the JRA’s railroad right-of-way. This agreement comes on the heels of an earlier tower development agreement on a 25-mile stretch of Pennsylvania ROW owned by Pioneer Railroad. Parallel Infrastructure will begin working immediately with railroad owners and wireless carriers to identify sites for towers along the JRA’s five short line Central Pennsylvania railroads: Juniata Valley Railroad, Lycoming Valley Railroad, Nittany & Bald Eagle, North Shore Railroad and Shamokin Valley Railroad.

These new agreements with Allegheny County, SEDA-CoG JRA, and Pioneer’s Gettysburg & Northern Railroad Line exemplify Parallel Infrastructure’s proficiency in collaborating with the public sector. Myers further commented, “While sharing revenue with a land owner earned from communications infrastructure developments is not a new concept, doing so in a comprehensive manner with a government land owner is the type of public-private arrangement that forward-thinking entities, such as these agencies, are using to institutionalize revenue capture opportunities.”

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About Parallel Infrastructure
Parallel Infrastructure LLC is the first universal Right-of-Way (ROW) management and infrastructure development company focused on monetizing and maximizing the value of underutilized land assets along railroad and highway corridors for third-party clients. The Company’s service offerings include real estate management services, telecommunications infrastructure development, and generating ancillary revenue streams through alternative ROW uses. Headquartered in Jacksonville, Fla., Parallel Infrastructure is a wholly owned subsidiary of Florida East Coast Industries, Inc. For more information, visit http://www.parallelinfrastructure.com.

About Florida East Coast Industries, Inc.
Florida East Coast Industries, Inc. (FECI) is one of Florida’s oldest and largest full-service commercial real estate, transportation, and infrastructure companies. Headquartered in Coral Gables, Fla., FECI has a rich history dating back over a century. Mr. Henry Flagler first established a predecessor company in 1892, which became a pioneer in the development of Florida’s eastern coast. Today, FECI continues to transform Florida as the parent company to the following leading real estate, transportation, and infrastructure businesses within the state: Flagler, a full-service commercial real estate company; All Aboard Florida, the United States’ first privately owned, operated and maintained intercity passenger rail system; South Florida Logistics Services, an integrated logistics company that offers a wide range of logistics services and real estate solutions; and Parallel Infrastructure, a leader in third-party Right of Way (ROW) investments and management services. FECI is owned by private equity funds managed by affiliates of Fortress Investment Group LLC. For more information, visit http://www.feci.com.

Media Contacts:
Mary Sudasassi
rbb Public Relations
305-448-6163
mary.sudasassi@rbbpr.com

Business

Parallel Infrastructure Offers New Fiber Optic Network along Florida’s East Coast, from Miami to Jacksonville

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New Superhighway Promises Broader Capacity and Faster Data Transmission.

JACKSONVILLE, Fla. (February 3, 2014) — Parallel Infrastructure LLC, a leading right-of-way (ROW) land management and communications infrastructure development company, today announced it is offering a new fiber optic network along its right-of-way (ROW) corridor that runs along Florida’s east coast from Miami to Jacksonville. These new fiber strands will offer increased speed and capacity and will be operational by the end of the year.

According to Parallel Infrastructure President and CEO, Frank Chechile, the company is already receiving interest from potential customers who want to take advantage of this new broadband infrastructure. “It’s been more than a decade since the last fiber cables were installed along this 351-mile corridor,” Chechile commented. “These new, low-latency strands can transfer large amounts of data faster, and are in high demand.”

The nature of the new, state-of-the art fiber infrastructure will allow companies to increase their capacity to support their needs without incurring additional operational expenses for each incremental bit transmitted. The network system will serve companies such as telephone and wireless carriers, utility companies, cable companies, data centers, municipalities, and other educational and healthcare businesses that transmit large amounts of data on a regular basis. Additionally, the fiber will be used to support the needs of All Aboard Florida, the country’s first privately owned and operated intercity passenger rail that will provide service along Florida’s east coast.

“There are added economic benefits to expanding Florida’s broadband infrastructure,” added Chechile. “This project will not only create more jobs locally, but thanks to Parallel Infrastructure’s ability to combine two of the most sought-after assets in telecom-contiguous land and dark fiber-we are better positioned to attract more high-tech companies to the region and fuel the growth of existing companies.”

Parallel Infrastructure manages a total of 1,700 miles of ROW corridor across 22 states on behalf of a prestigious list of railroad landowners. According to Chechile, the company is investigating plans to construct similar fiber optic networks along these routes over the next 24 months.

About Parallel Infrastructure
Headquartered in Jacksonville, Fla., with regional office nationwide, Parallel Infrastructure LLC is the first universal Right-of-Way (ROW) management and communications infrastructure development company focused on monetizing and maximizing the value of underutilized land assets along railroad and highway corridors for third-party clients. The company’s service offerings include real estate management services, telecommunications infrastructure development, and generating ancillary revenue streams through alternative ROW uses. Parallel Infrastructure is a wholly owned subsidiary of Florida East Coast Industries, Inc. For more information, visit http://www.parallelinfrastructure.com.

About Florida East Coast Industries, Inc.
Florida East Coast Industries, Inc. (FECI) is one of Florida’s oldest and largest full-service commercial real estate and infrastructure companies. Headquartered in Coral Gables, Fla., FECI has a rich history dating back over a century. Mr. Henry Flagler first established a predecessor company in 1892, which became a pioneer in the development of Florida’s eastern coast. Today, FECI continues to transform Florida as the parent company to four distinct business lines including Flagler, a full-service commercial real estate company; All Aboard Florida, the United States’ first privately owned, operated and maintained intercity passenger rail; South Florida Logistics Services, an integrated logistics company that offers a wide range of logistics services and solutions; and Parallel Infrastructure, a leader in third-party Right of Way (ROW) management and development services. FECI is owned by private equity funds managed by affiliates of Fortress Investment Group LLC. For more information, visit http://www.feci.com.

Media Contacts:
Mary Sudasassi
rbb Public Relations
305-448-6163
mary.sudasassi@rbbpr.com

Kathleen Rodriguez
Florida East Coast Industries
305-520-2306
kathleen.rodriguez@feci.com

Business, Construction, Real Estate

Parallel Infrastructure CEO Addresses Congressional Subcommittee on Using Right-of-Way Real Estate to Finance Passenger Rail Improvements

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Frank Chechile, CEO of Parallel Infrastructure LLC (“Parallel”), a leading right-of-way (“ROW”) land management and asset development company, presented testimony yesterday to the U.S. House of Representatives Subcommittee on Railroads, Pipelines, & Hazardous Materials on how right-of-way real estate can be used in an innovative way to fund passenger rail without placing additional burden on taxpayers. The title of the hearing was, “The Role of Innovative Finance in Intercity Passenger Rail.”

JACKSONVILLE, Fla. (January 27, 2014) — Frank Chechile, CEO of Parallel Infrastructure LLC (“Parallel”), a leading right-of-way (“ROW”) land management and asset development company, presented testimony yesterday to the U.S. House of Representatives Subcommittee on Railroads, Pipelines, & Hazardous Materials on how right-of-way real estate can be used in an innovative way to fund passenger rail without placing additional burden on taxpayers. The title of the hearing was, “The Role of Innovative Finance in Intercity Passenger Rail.”

In his testimony, Chechile stated that collaboration between the public and private sector can enable a new source of financing for passenger rail systems. Parallel Infrastructure has the ability to unlock the value of real estate assets owned by public agencies to create a new revenue stream that can be used to finance capital projects and/or ongoing operations.

“There are more than one million miles of right-of-way transportation corridor in the United States, the vast majority of which is owned by the public sector,” said Chechile. “By tapping the value of ROW real estate, billions of dollars in new revenue can be generated and leveraged to fund passenger rail infrastructure improvements in our country.”

Established just two years ago as an independent company, Parallel Infrastructure has grown to become a national player by securing agreements with public and private sector railroad companies. In addition to securing agreements with public sector railroads, such as North Coast Railroad Authority and SEDA-Council of Government, Parallel recently signed an agreement to help Allegheny County in Pennsylvania increase its earnings from its land assets through telecommunications infrastructure development.

Chechile credits the company’s rapid growth to the unique skillset developed from 100+ years of managing its own ROW in Florida and its ability and willingness to deploy its own capital to realize these real estate opportunities. The company has agreements covering more than 1,800 miles of ROW corridor across 22 states.

“I appreciate the chance to have spoken directly with this group of legislators to share Parallel Infrastructure’s experience with generating new financing streams from proactive ROW management that can offer government agencies at all levels the means to enhance our nation’s passenger rail transportation system,” added Chechile.

The hearing can be viewed at: http://www.transportation.house.gov/hearing/role-innovative-finance-intercity-passenger-rail.

About Parallel Infrastructure
Parallel Infrastructure LLC is the first universal Right-of-Way (ROW) land management and communications infrastructure development company focused on monetizing and maximizing the value of underutilized land assets along railroad and highway corridors for third-party clients. The Company’s service offerings include real estate management services, telecommunications infrastructure development, and generating ancillary revenue streams through alternative ROW uses. Headquartered in Jacksonville, Fla., Parallel Infrastructure is a wholly owned subsidiary of Florida East Coast Industries, Inc. For more information, visit http://www.parallelinfrastructure.com.

About Florida East Coast Industries
Florida East Coast Industries, Inc. (FECI) is one of Florida’s oldest and largest full-service commercial real estate and infrastructure companies. Headquartered in Coral Gables, Fla., FECI has a rich history dating back over a century. Mr. Henry Flagler first established a predecessor company in 1892, which became a pioneer in the development of Florida’s eastern coast. Today, FECI continues to transform Florida as the parent company to the following leading real estate, transportation, and infrastructure businesses within the state: Flagler, a full-service commercial real estate company; All Aboard Florida, the United States’ first privately owned, operated and maintained intercity passenger rail; South Florida Logistics Services, an integrated logistics company that offers a wide range of logistics services and solutions; and Parallel Infrastructure, a leader in third-party Right of Way (ROW) management services. FECI is owned by private equity funds managed by affiliates of Fortress Investment Group LLC. For more information, visit http://www.feci.com.

Media Contacts:
Kristy Kennedy
rbb Public Relations
305-448-5839
kristy.kennedy@rbbpr.com

Kathleen Rodriguez
Florida East Coast Industries
305-520-2306
kathleen.rodriguez@feci.com