UPDATE Melody Investment Advisors announced Tuesday that it has closed its transaction to acquire both the Uniti Towers tower development business and over 500 US-based towers from Uniti Group Inc. (NASDAQ: UNIT).
As part of the transaction, Uniti retained a 10 percent interest in the tower business, and Melody and Uniti will enter into a strategic relationship to collaborate on integrated solutions for wireless carriers requiring tower, fiber and small cell infrastructure.
Lawrence Gleason, President of Uniti Towers, said, “As 5G continues to roll out, increasing demand for new and improved communications infrastructure, we are pleased to partner with Melody, our new financial sponsor, to provide mission-critical infrastructure to our carrier customers.”
David Bacino, an Operating Partner at Melody and President of Melody Wireless Infrastructure, said, “This transaction represents the latest step in our ongoing growth strategy to invest in wireless infrastructure by developing and acquiring cellular properties in the U.S. We are excited about our acquisition of Uniti Towers as we seek to further expand and deepen our strong relationships with our wireless carrier partners with new locations and services.”
With the closing of this transaction, Melody and its affiliates now own and market over 4,000 wireless infrastructure properties. Melody is a top five independent owner of national wireless infrastructure assets and one of the largest privately owned telecom landowners in the U.S.