Diamond Communications, LLC announced on Wednesday the acquisition of substantially all of the assets of 5G LLC. 5G is a communications infrastructure company facilitating the integration of wireless carrier networks and commercial real estate. Over the past several years, 5G has built a portfolio of rooftop cell site deployments and has become an aggregator of Class A institutional real estate with a portfolio of approximately 50,000 properties under management. The acquisition is designed to strengthen Diamond’s position in the wireless infrastructure marketplace and enable the company to bring its solutions to 5G’s relationships.
“Bringing 5G into the Diamond family is an important step towards our goal of delivering versatile and comprehensive wireless infrastructure solutions to our partners,” said Diamond Founder and CEO Ed Farscht. “Their expertise in the rooftop cell site market and deep relationships with commercial real estate owners complements our strategic vision and will enhance our ability to provide connectivity solutions in urban and suburban areas.”
As part of the acquisition, several members of the 5G team will be joining Diamond in new roles to provide continuity with existing relationships. Rick Varnell, 5G’s Executive Director of CRE Sales, will join as Diamond’s new Chief Innovation Officer, and Tucker Lahr, 5G’s Vice President of Operations, will be joining the Diamond team in that same role. Both Varnell and Lahr will work with the Diamond team to strengthen commercial real estate relationships and continue to operate as a primary point-of-contact for their third-party partners.
“The commercial real estate relationships of 5G, paired with Diamond’s strong track record in the wireless infrastructure ecosystem, makes this a powerful combination,” Varnell said. “We are excited to join forces with Diamond and look forward to working together to create flexible, scalable infrastructure for our commercial real estate partners.”
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