MIAMI-In a move to reinforce its role as a developer of Internet infrastructure, Terremark Worldwide Inc. is selling its telecommunications-hotel business to a group of senior managers for an undisclosed price.

The Miami company announced Tuesday it entered into a binding contract to sell Telecom Routing Exchange Developers Inc., an operating subsidiary, as part of a strategic plan to transform the parent company from a full-service real estate company into a developer of Internet infrastructure and provider of Internet-managed services.

While no one connected to the deal would talk about contract details, Terremark disclosed it agreed to sell all the assets of Telecom Routing, also known as T-Rex, to Thomas M. Mulroy, Telecom Routing's president and chief executive officer, and Clifford J. Preminger. However, the deal does not include Terremark's interest in the 700,000-square-foot Technology Center of the Americas–home to NAP of the Americas, a network-access point Internet switching system.