CS&L (Nasdaq: CSAL), an S&P 400 Midcap Index company headquartered in Little Rock, Ark., is a publicly traded real estate investment trust primarily engaged in the acquisition of communication distribution systems. CS&L currently owns 3.6 million strand miles of fiber, 235,000 route miles of copper and central office land and buildings across 29 states. As a strategic financing partner to the telecommunications industry, CS&L continually evaluates challenges and trends impacting the industry, and opportunities to grow and diversify its portfolio by acquiring additional communication distribution systems. As a real estate investment trust (REIT), CS&L intends to grow and diversify its portfolio over time, primarily in three ways: 1. Acquiring and leasing communications assets that qualify as real property. 2. Financing fiber for existing and new customers. 3. Acting as financing partner to facilitate M&A. CS&L also expects to benefit from rent escalations related to our existing tenant, which begin in year four of the lease. CS&L also has the option to fund capital investment and increase the value of the asset.