To get a better idea of the future direction of Parallel Infrastructure, just look to see who it appointed as the new president of telecommunications infrastructure. It is Yannis Macheras, and his experience will likely help the company add to tower portfolio growth.
Before this post, he worked in telecom for 15 years, having been in management at American Tower (News - Alert) Corporation (AMT). His experience there includes work in back-office operations, experience in the integration of SpectraSite into AMT in 2005, work as a vice president and general manager, and work on rooftop business and tower development in Latin America. He is a graduate of Tulane Law School and Columbia University.
“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,” Frank Chechile, CEO of Parallel Infrastructure, said in a statement. “He will continue to foster Parallel’s focus on speed and agility in the tower development space.”
Overall, Parallel Infrastructure provides communications infrastructure and asset management services to businesses and government offices. Among its services are helping organizations acquire land, build a telecom site and lease towers. It also invests in and manages underutilized assets alongside railroads and highways. The company calls many of its services “right-of-way” (ROW) third-party management and infrastructure development. It offers real estate management, telecom, energy and outdoor advertising infrastructure development, and ROW services that generate income.
“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 said.
Also, the timing of the appointment comes as there is strong demand in the marketplace for wireless services – and commercial need for cell towers. As of November, it was estimated there were 190,000 cell phone towers in the United States, according to Airwave Management.
Parallel Infrastructure prides itself on speedy construction and deployment of tower sites. In addition, it has specialization in the zoning and permitting issues related to tower development. The company’s goal is to get its clients to market quicker “with greater pinpoint coverage and higher customer satisfaction.” Often, there can be local opposition to cell phone tower development, despite the commercial need for the towers.
“In many cases, our ROW land portfolio provides exclusive access in high-demand locations,” the company adds in a statement. “We offer targeted coverage in areas that were inaccessible during the initial build outs, and are now exclusively available through our right-of-way partners.”
Parallel Infrastructure, which is owned by Florida East Coast Industries, has a portfolio which now includes more than 2,100 miles of ROW across 22 U.S. states. It is also expanding relationships with carriers, and is working on new leases.