COSTA MESA, Calif.--(BUSINESS WIRE)--On the heels of acquiring a multi-tower portfolio in the mid-west, Strategic Wireless Infrastructure Funds Management, Inc. (“Strategic Wireless”) announced the addition of its second asset class through the acquisition of a telecommunications rooftop easement that supports wireless network services.
Located in Spartanburg, SC, the easement acquisition provides exclusive telecom rooftop rights for a period of 99 years. A portion of the easement is currently leased to an existing Tier 1 wireless carrier under a long-term lease agreement. The carrier has been leasing and utilizing the rooftop since the 1996 and uses it as a strategic location to provide wireless coverage to its customers in the downtown Spartanburg area.
Jerry Sullivan, CEO of Strategic Wireless, stated, “We continue to execute on our strategy of sourcing and acquiring high-quality infrastructure assets that support telecommunication networks and believe this asset class further complements the existing tower investment strategy in our portfolio.” Mr. Sullivan went on to say that the rooftop has capacity to support additional tenants, which management believes provides upside potential and value creation upon lease-up. In that regard, management expects to pursue additional tenants to help maximize occupancy.
About Strategic Wireless
Strategic Wireless is an investment manager and capital partner focused on acquiring, building and managing telecom infrastructure assets that support mobile and internet connectivity. To help achieve its investment goals, Strategic Wireless establishes mutually beneficial partnerships with select independent operators and developers throughout the U.S. The company prides itself on aligning interests, providing transparency and offering fair pricing to ensure longstanding working relationships for years to come.