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COMCAST CORPORATION

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Xfinity Communities : and Chicago's Kass Management Services Launch Nation's First Commercial Smart Communities Platform

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07/18/2019 | 09:02am EDT

Connected living experience technologies allow residents to control thermostats and lighting in their units; simplifies property management

Xfinity Communities and Kass Management Services, a Chicago-based rental and commercial property and condominium association management company, announced today the nation’s first commercial deployment of the Xfinity Communities’ Smart Communities platform at two Kass-operated, multifamily rental properties in the city.

Through the partnership, 50 units were outfitted with smart devices, including smart thermostats and smart lighting, which renters can control via the Xfinity Communities app when they’re at home or away. When combined with the power of Xfinity Internet service, the devices create a technology platform that over time, property managers can expand with additional smart features, such as security cameras and smart locks.

“Creating smart communities by integrating smart home technology into our properties makes life easier and more convenient for residents and may even help them have more control over their utility usage,” said Mark Durakovic, principal, Kass Management Services Inc. “In a competitive rental market like Chicago’s, smart features help to differentiate properties, add value and attract residents.”

Property managers can control the entire platform via Xfinity Communities’ Smart Communities Portal, which gives them the ability to manage automation technology in their properties’ administrative and public areas. For example, the system can help reduce energy use by controlling temperatures in vacant units and common areas. In addition, when a unit is rented, property managers can prep it and turn over control of the smart devices to the new tenant via the portal.

“We’re excited to partner with Kass to launch Smart Communities in the Chicago market,” said Chris Smith, Comcast’s regional vice president of Marketing and Sales. “Home automation is a burgeoning market, and we’re thrilled to bring it to Chicago area apartment dwellers. Tenants are going to appreciate the control they have over their units, and property managers are going to appreciate the convenience and control this technology will give them over their properties.”

For more information about Xfinity Communities, visit: https://www.xfinity.com/multifamily.

About XFINITY Communities

XFINITY Communities™ provides multifamily property and residents with a better network, better entertainment and better service. With one of the largest fiber networks in the country spanning more than 150,000 miles, a one-of-a-kind interactive TV experience with XFINITY X1, and dedicated property support, we provide an end-to-end service that translates to better living for more than 189,000 properties and 14.7 million units. Our Advanced Communities Network (ACN) – a fiber network solution that provides your properties with gigabit speeds – can help attract new residents while giving existing residents what they want.

With more than 6,000 local employees, Comcast’s Greater Chicago Region (https://chicago.comcast.com) serves customers in central and northern Illinois, including the Chicago area, northwest Indiana and southwest Michigan. “Like” Comcast’s Greater Chicago Region on Facebook by visiting @Comcast. “Follow” Comcast’s Greater Chicago Region on Twitter at @ComcastIllinois.

About Kass Management Services Inc.

Since 1985, Kass Management Services Inc. has been providing residential rental, condominium and commercial management services. Today, the company manages more than 10,000 units and more than 450 properties in the Chicago area. Kass believes technology plays an integral role in the residential and commercial real estate industry and has been a leader in adopting and providing residents and owners access to advanced new technologies before they become commonplace.

For more information about Kass, visit http://www.kassmanagement.com online or @kass_management_services on Instagram.


© Business Wire 2019
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Financials (USD)
Sales 2019 111 B
EBIT 2019 21 484 M
Net income 2019 13 137 M
Debt 2019 98 453 M
Yield 2019 1,88%
P/E ratio 2019 15,5x
P/E ratio 2020 14,2x
EV / Sales2019 2,69x
EV / Sales2020 2,47x
Capitalization 200 B
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Mean consensus BUY
Number of Analysts 33
Average target price 48,80  $
Last Close Price 44,06  $
Spread / Highest target 29,4%
Spread / Average Target 10,8%
Spread / Lowest Target -4,68%
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Managers
NameTitle
Brian L. Roberts Chairman, President & Chief Executive Officer
Michael J. Cavanagh Chief Financial Officer & Senior Executive VP
Kenneth J. Bacon Independent Director
Sheldon M. Bonovitz Director
Jeffrey A. Honickman Independent Director
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