Riverstone Residential Group Launches Telecommunications Services for Multifamily Properties

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Riverstone Telecom venture offers custom, value-added packages of cable, Internet, and phone services

“Riverstone Telecom represents a new era in the company's longstanding dedication to anticipating and providing an innovative response to the needs of multifamily stakeholders," said Riverstone CEO Walt Smith.

Riverstone Residential Group, one of the largest privately-owned, third-party multifamily property management companies in the United States, has launched a new telecommunications initiative. Riverstone Telecom, available under Riverstone’s suite of ancillary services, offers feature-rich communication packages designed with the needs of multifamily owners, properties, and residents in mind.

Under Riverstone Telecom, property owners have the opportunity for additional ancillary revenue by selecting value-added services including bundled cable, high-speed Internet access, Wi-fi hotspots, and campus systems. Owners may also select from expense reduction opportunities for fire and intrusion alarm systems, 911 emergency phones, business office telephony, high-speed Internet access service, and project management services.

“With over 165,000 apartments under management, Riverstone has extensive negotiating and buying power with dependable, high-quality suppliers,” noted Riverstone Executive Vice President Gardner Rees. “This allows Riverstone Telecom to reduce properties’ costs while offering additional income and access to an array of cutting-edge services.”

Riverstone Telecom will be headed by Greg McDonald, an esteemed 25-year telecommunications-industry veteran with a proven track record of generating value for clients. Among other duties, McDonald will oversee Riverstone Telecom’s custom consultation program, designed to evaluate a property’s current telecommunication programs and use. During the course of the detailed consultation process, owners receive tailored service recommendations based on their property’s resident base, available options, and optimal financial return.

In addition to providing benefits for multifamily owners and their properties, the telecommunications packages are positioned to appeal to value-minded residents by offering a dependable solution that saves time and money that would ordinarily be spent interacting with and paying multiple off-site providers. The service’s in-demand amenities support residents’ busy lifestyles by providing 24/7 access to news, information, and resources that augment their personal and professional lives.

For Riverstone CEO Walt Smith, Riverstone Telecom represents a new era in the company’s longstanding dedication to anticipating, and providing an innovative response to the needs of multifamily stakeholders.

“Our strong relationships with property owners, along with data from our local markets, have yielded insights into the types of services that add bottom-line benefits for our sclients,” stated Smith. “We are steadfast in our commitment to dedicating resources to the creation of next-generation services including Riverstone Telecom, and to capitalizing on current and up-and-coming technologies to better serve Riverstone clients, properties, and residents.”

About Riverstone Residential Group
Riverstone Residential Group, one of the largest third-party multifamily apartment management companies in the United States, is focused exclusively on the delivery of unparalleled property management, as well as, resident and ancillary services. Riverstone's core service groups include accounting, affordable housing, compliance and property audits, information technology, risk management, human resources, marketing and education, purchasing, and regional maintenance. Ancillary service groups include utility management services, resident screening and receivables management services, client and resident insurance, telecommunications, and financial advisory services. The company manages a portfolio of multifamily assets valued at more than $15 billion for leading institutions, pension funds, developers and other major owners. Located in metropolitan markets across the nation, the more than 650 managed apartment properties include high-rise, mid-rise, and garden-style communities in conventional, affordable and receivership assets. The company is headquartered in Dallas, TX. For additional information, visit http://www.RiverstoneRes.com or e-mail ClientServices(at)RiverstoneRes(dot)com.

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Susan Morrow

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