Kansas

CBRE Global Real Estate Income Fund : Investment Management Private Infrastructure Investments Support Acquisition of WANRack Fiber-To-the-Home Portfolio Company

 

CBRE Investment Management is pleased to announce that its private infrastructure portfolio company WANRack, LLC (“WANRack”), has entered into a definitive agreement to acquire Kansas-based fiber and fixed-line network provider KwiKom Communications (“KwiKom” ) through a fund sponsored by CBRE Investment Management.

WANRack is a national leader in custom fiber optic network deployments providing broadband connectivity services, primarily to K-12 school districts across the United States. KwiKom builds and operates fixed-line and fiber-optic wireless broadband networks serving residential and business customers in Kansas, Missouri, Oklahoma and Nebraska.

The two companies will continue to operate under their respective brands following the acquisition.

“We are excited to support the continued growth of our WANRack portfolio company through the acquisition of Kwikom. This transaction will not only enhance WANRack’s existing fiber footprint in Kansas, but will also provide access to KwiKom’s other markets and expand our service offering to now include fiber-to-the-home,” said Noi Spyratos, Managing Director, Private Infrastructure at CBRE Investment Management. “This is a great example of our commitment to growing our portfolio companies while also contributing to strong social outcomes given our plans to expand fiber into underserved and underserved communities. We believe that with this acquisition, WANRack will be in a even better positioned to make a significant impact to reduce the ‘jobs gap’ and the ‘digital divide’.”

Providing communities with high-speed, reliable Internet is a priority in the United States, as evidenced by the more than $42 billion in federal funding earmarked for broadband implementation under the new infrastructure bill. WANRack is well positioned to secure a portion of this grant funding and support construction in these communities.

“We are extremely excited to welcome KwiKom to the WANRack family,” said Mike Brigman, President and Chief Operating Officer of WANRack. “KwiKom has a proven track record of excellent customer service and expansion capabilities. Their world-class team and impressive portfolio of services align perfectly with WANRack’s vision for growth.”

The acquisition is expected to close in the first quarter of 2023 following regulatory approvals. WANRack was advised in this transaction by Financial Advisor TD Securities, Counsel Morgan, Lewis & Bockius, Commercial Advisor ATLANTIC-ACM and Technical Advisor Broadband Success Partners.

About CBRE Investment ManagementCBRE Investment Management is a leading global real estate investment management firm with $143.9 billion in assets under management* as of September 30, 2022, operating in more than 30 offices and 20 countries worldwide . Through its investor-dealer culture, the firm seeks to provide sustainable investment solutions across all real asset categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independent affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate investment and services company (based on 2021 revenues). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving customers in more than 100 countries. CBRE Investment Management leverages CBRE’s data and market analysis, investment sourcing and other resources for the benefit of its clients. For more information, visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of investments relating to real assets in respect of which CBRE Investment Management provides, on a global basis, supervision, investment management and other advisory services and which generally consist of investments in assets real ; equity investments in funds and joint ventures; securities portfolios; operating companies and real asset loans. This AUM is intended primarily to reflect the extent of CBRE Investment Management’s presence in the global real asset market and its calculation of AUM may differ from other asset managers’ calculations and its calculation of regulatory assets under management for the purposes of some regulatory documents.

About WANRackWANRack provides high bandwidth fiber-based infrastructure and related services to schools, hospitals, libraries, enterprises and carrier customers throughout the continental United States. Service offerings include E-Rate compliant illuminated fiber, dark fiber, and special build solutions. Headquartered in Overland Park, Kansas, the company provides custom fiber solutions that eliminate countless points of failure found in typical legacy networks. For more information about WANRack, visit www.wanrack.com.

About JMZ Corporation, d/b/a KwiKom CommunicationsKwiKom provides Internet and voice services today, with video services launching in Q1 2023. Established in 2010, KwiKom’s ever-expanding network services an area of ​​more than 30,000 square miles, in 75 counties in four states. Over the past five years, KwiKom has expanded into gigabit fiber network services for homes and businesses in multiple markets in Kansas. For more information about KwiKom, visit www.KwiKom.com.

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