Ubiquity Partners, LP (“Ubiquity”), which invests in critical communications infrastructure throughout the United States, announced today it recently completed a $40-million investment with Netly, LLC (“Netly”) to develop open-access, fiber-optic networks throughout California, including North County, San Diego.
Netly will begin development in Solana Beach, CA immediately and later expand to surrounding communities. Ubiquity’s partnership with Netly has the potential to grow to $250 million in overall capital commitments.
Ubiquity is working with Netly to bring a city-wide, open-access fiber network to Solana Beach, CA and surrounding areas. The network’s open-access feature makes the fiber system open to local and national providers. The initial system will pass approximately 7,000 residential and business addresses with construction commencing in early 2020.
“Ubiquity’s goal is to invest in communications infrastructure that empowers communities for the future,” said Ajay Ghanekar, Managing Partner of Ubiquity. “Working collaboratively, Ubiquity’s operationally-focused management team is enhanced by Netly’s regional expertise. Netly is an ideal partner that shares our vision. Looking ahead, we have a robust pipeline of investment opportunities that we expect to attract capital and drive growth in 2020 and beyond.”
The open-access network is designed to accommodate all current and future fiber uses, including long-term contracts with: mobile carriers, government entities, utilities, edge computing and other broadband providers. “Today’s investment is supported by a long-term contract with an anchor tenant. Given the open-access nature of the system, we are well positioned to add multiple independent service providers, diversify revenue streams and enhance asset value,” said Ghanekar.
“Netly is on a mission to change the business model for internet infrastructure and fiber-optic deployments in the United States,” said Jack Demers, CEO of Netly. “We believe every home, business, school, library and city building in the country should have access to abundant fiber-optic connections. The digital divide is best bridged by providing choice and spurring innovation, which are vital for healthy and vibrant communities. Ubiquity’s support allows us to develop future-proof Gigabit cities, enabling all constituencies to thrive in a digital world.”
Outlook for 2020
Ubiquity successfully executed on its communications infrastructure strategy in 2019 and is poised for growth in 2020. Key senior advisors have been appointed to work with the management team, including: Marty Bicknell, CEO of Mariner Wealth Advisors, who is a recognized leader in the wealth management space, and Dave Schulte, CEO of CorEnergy Infrastructure Trust, Inc. (NYSE: CORR) and co-founder of Tortoise Capital Advisors, LLC, who is recognized as a pioneer in the energy infrastructure sector.
The Ubiquity management team is led by Ajay Ghanekar as Managing Partner and consists of fellow co-founders, Christian Scharosch and Jamie Earp. Management will continue to evaluate a diverse set of opportunities that can bring modern communications infrastructure to underserved urban, suburban, and rural markets. A number of investments ranging in value from $50 to $250 million are in the preliminary stages of review. Ubiquity will consider investments in the fiber, data center, tower and small cell space.
Ubiquity is a private infrastructure investment platform that seeks to invest, develop and manage critical communications infrastructure throughout the United States. Ubiquity partners with wireless carriers, technology companies, broadband providers, developers and municipalities to deliver infrastructure solutions. Ubiquity’s mission is to build communications infrastructure to empower communities for the future and create value for investors in the digital age. Ubiquity has partnered with Montage Investments, an operationally oriented investment firm specializing in alternative investments. For more information, please visit https://ubiqpartners.com/.
Netly designs, builds, and operates city-wide, open-access fiber optic systems to radically upgrade the internet infrastructure in select markets across the United States. Netly is a developer that builds “ready-for-light” fiber networks for any and all service providers. As a wholesaler, Netly focuses on building a best-in-class system to meet all communications needs for the next 50 years. Using a city-wide design, Netly constructs once and shares cost savings amongst all users. For more information, please visit https://www.netlyfiber.com/.