Central Parking System Announces Strategic Alliance with Alatus LLC

NASHVILLE, Tenn.--(BUSINESS WIRE)--Central Parking System today announced that it has been selected by Alatus LLC and has entered into a strategic alliance to operate Alatus’ Minneapolis parking portfolio. The five properties are comprised of four fully-automated, multi-level parking facilities and one property consisting of a large surface lot. The portfolio includes the Centre Village Ramp, Gateway Ramp, Downtown East Ramp, Seven Corners Ramp and Orpheum Ramada lots, which encompasses a total of 4,300 spaces. Alatus LLC is the largest private owner of parking facilities in the Minneapolis central business district. The multi-year strategic alliance contract commenced in the fourth quarter of 2008.

Emanuel J. Eads, Central Parking’s President and Chief Executive Officer, said, “We are very pleased that Alatus LLC has, after a comprehensive selection process, chosen Central Parking given our ability to provide enhanced centralized reporting, industry leading financial controls, increased profit opportunities, state of the art technological capability, and our experienced, well-trained, professional team. We believe this alliance is another example of Central Parking’s overall strength and ability to bring true value to its clients.”

Central Parking System is the leader in professional parking management. With offices in all major metropolitan areas in the United States, the Company operates approximately 2,400 parking facilities containing in excess of 1.1 million spaces. The Company’s clients include some of the nation’s largest owners and operators of mixed-use projects, office buildings, hotels, stadiums and arenas as well as airports, hospitals and municipalities.