June.11.2021
We represented Whitehelm Capital, acting through its Smart City Infrastructure Fund (“SCIF”) dedicated to investing in smart city projects globally utilizing next-generation digital infrastructure, in its equity investment in and joint venture with SiFi Networks to construct its first East Coast FiberCity™, a city-wide fiber network to be used by both business and residential locations in Salem, Massachusetts.
The deal was structured as a joint venture. SiFi, an experienced international network developer, will provide the day-to-day operational support and management of the company. The project will offer Salem businesses and homes access to state-of-the-art smart city applications, including e-education, e-health and waste management. As a smart city, its proximity to Boston will enable it to attract and retain businesses, while its high-speed connectivity will facilitate telecommuting.
Construction is set to commence soon with anticipated completion in 2022. SCIF plans to install its city-wide fiber networks in 20 US cities in the coming year to accommodate the growing demand for high quality, reliable digital infrastructure.
Our team was led by John Donaleski and included Savannah Raymond, Spencer Cohen, Eli Humphries, Michelle Pichardo, Harry Clark, Jeanine McGuinness, Robert Lawrence and Susan Cowell.