Frontier Appoints Newmark to Manage its Real-Estate Portfolio
Newmark’s technology platform will further streamline Frontier’s operations and drive efficiencies
TL;DR – The Byte-Size Download:
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Happening: Today,
Frontier (NASDAQ: FYBR) announced it appointed Newmark, a world leader in commercial real estate, to manage its real-estate portfolio. Newmark’s leading-edge, real-estate technology platform, Newlitic, and market expertise will help Frontier further streamline operations and identify cost savings opportunities. - Why it Matters: Frontier’s real-estate portfolio is made up of thousands of properties, including leased, owned and specialized network facilities, across 25 states. The entire portfolio will now be managed by a single partner, Newmark.
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Get stoked: “As we advance our purpose of
Building Gigabit America , simplifying our real-estate portfolio represents an important opportunity to reduce our cost structure and improve the sustainability of our footprint,” saidScott Beasley , Frontier’s Chief Financial Officer. “We’re excited to partner with Newmark to use their technology and experience to accelerate our real-estate transformation.”
The Details:
Frontier announced today that Newmark will serve as its single real-estate partner to oversee its portfolio of properties spanning 25 states. Newmark’s business intelligence technology platform will deliver data analytics and insights to optimize Frontier’s real-estate portfolio as the company transforms with its fiber-first strategy.
Why is this important?
Frontier made rapid improvements to its cost structure in 2022, achieving its initial cost savings target of
Hear from Newmark:
Newmark Global Corporate Services Chief Executive Officer,
About Frontier
Frontier is a leading communications provider offering gigabit speeds to empower and connect millions of consumers and businesses in 25 states. It is building critical digital infrastructure across the country with its fiber-optic network and cloud-based solutions, enabling connections today and future proofing for tomorrow. Rallied around a single purpose, Building Gigabit America™, the company is focused on supporting a digital society, closing the digital divide, and working toward a more sustainable environment. Frontier is preparing today for a better tomorrow. Visit frontier.com.
About Newmark
View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005405/en/
Media
VP, Corporate Communications
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chrissy.murray@ftr.com
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