GMAC Chief Takes Seat On USOL Holdings Board

AUSTIN-The largest shareholder of USOL Holdings Inc. has puts its president and chief executive on USOL’s board of directors. USOL provides telecommunications services to multifamily living communities through its U.S. Online subsidiary.

Robert Feller of GMAC Commercial Mortgage Corp. replaces Mark Sampson on the USOL Holdings’ board. Sampson is managing director of corporate finance at Newman & Associates, Inc., an investment banking firm owned by a subsidiary of GMAC Commercial Holding Corp.

The GMAC unit gained USOL shares through a deal in which USOL’s The Residents Club was to develop a private-label Internet service portal for GMAC. The Residents Club has been discontinued.

Feller is responsible for the GMAC Commercial Mortgage’s North American operations. Prior to joining GMAC, Feller was group vice president of finance and managing director of GMAC Mortgage Group. He also was manager of venture development for the Delphi Chassis Systems division of General Motors (GM), where he led worldwide acquisition, joint venture and divestiture activities.

“GMAC Commercial Mortgage Corp. is fully supportive of (USOL’s) long-term growth objectives and its plans for building shareholder value,” Feller says. “We continue to be one of USOL Holdings’ largest shareholders and clearly have a vested interest in its success.”

U.S. OnLine provides local and long distance telephone services, cable television and high-speed Internet access to residents of apartment complexes. U.S. OnLine provides its services to more than 137 apartment communities in Austin, Dallas-Fort Worth, Denver, Houston, San Antonio, Washington, D.C. and Portland, OR. It also serves several of the largest owners in the country including AMLI Residential, Simpson Housing and Gables Residential.