Everest Infrastructure Partners yesterday announced the acquisition of nearly 100 wireless tower assets from Norwalk, Connecticut-based Frontier Communications (NASDAQ:FTR). The acquisition includes towers located in 17 states throughout the U.S., with significant tower concentrations in Connecticut, New York, and California.
“We anticipate this to be one of the largest tower acquisitions completed in 2019 and provides us with the scale to better serve our customers,” said Mike Mackey, President of Everest.
“Many of these [sites] are centrally located in major urban markets in the Northeast, as well as small and medium-sized communities on the West Coast,” he said. “The towers offer easy access to high-quality backhaul through Frontier, in areas with few alternatives for additional macro site installations.” Mackey said many of the towers are in valuable locations, in terrain and zoning-challenged environments.
“The Everest team was tremendous to work with throughout this complex transaction. They demonstrated a high level of capability and service and we believe they will continue to provide exceptional infrastructure leasing services to our collective customers going forward,” said Jim Campbell, Group Vice President, Facilities and Real Estate Services for Frontier.
This is the eighth tower portfolio acquisition completed by Everest in the past two years. The transaction increases its current portfolio to nearly 300 tower sites in more than 40 states.
“The acquisition of towers and carrier customers from Frontier is a substantial increase in our footprint of tower locations as well as our customer activity with all of the national wireless operators,” said Matt Newton, CEO of Everest. “We are seeing tremendous growth across our tower portfolio as mobile operators continue to densify their networks and plan for new advanced services such as 5G. The portfolio of towers acquired from Frontier will add substantial value to our customers in these markets.” Comments? Email Us.
January 23, 2019