COSTA MESA, Calif.--(BUSINESS WIRE)--Strategic Wireless Infrastructure Funds Management, LLC (“Strategic Wireless”) announced today that through its affiliate, SWI Funds Tower Holdings, LLC, it has completed the acquisition of a tower portfolio, real estate and other related assets located at premier locations throughout multiple states on the eastern seaboard including New York, Delaware, Massachusetts, Pennsylvania and Florida.
Jerry Sullivan, Chief Executive Officer of Strategic Wireless, stated, “This acquisition helps to further diversify our growing portfolio of high-quality, telecommunications infrastructure assets throughout the U.S.” Sullivan added, “We continue to exercise extreme discipline in our acquisition and development programs focusing on unique opportunities that help mitigate risk by delivering revenues associated with the country’s top wireless carriers and other credit-worthy tenants.”
A majority of the sites, all of which were constructed in 2015 or later, support at least two of the major wireless carriers which make up most of the portfolio’s lease revenue. Each site has excess capacity for additional broadband or broadband-equivalent tenants which management believes provides significant upside and value creation upon lease-up. Management expects to pursue additional wireless carriers, governmental agencies and other wireless providers to maximize occupancy on the newly acquired towers.
Media Capital Advisors, Inc. based in West Chester, PA represented the seller in this transaction.
About Strategic Wireless
Strategic Wireless is an investment manager, capital partner and holding company focused on acquiring, developing and managing telecom infrastructure assets that support broadband connectivity. To help achieve its investment objectives, Strategic Wireless establishes mutually beneficial partnerships with wireless carriers and select independent operators and developers throughout the U.S. The company’s goal is to align interests, provide transparency and offer fair pricing to ensure longstanding working relationships for years to come.