Becoming a REIT is all the rage these days among tower companies, and soon SBA Communications will be filing the proper paperwork to operate as on, I’m sure. Ben Moreland, president and CEO of Crown Castle International Corp. joined REIT.com for a CEO Spotlight video interview during REITWeek 2014: NAREIT’s Investor Forum, held in New York. The company began operating as a REIT at the beginning of 2014 and Moreland believes it was the right decision for the company. “We thought the REIT corporate organization was the right long-term structure for us,” Moreland said, noting that Crown Castle has thought of itself as a real estate company since inception. “We are far and away the largest provider of shared wireless infrastructure to the wireless carriers in the U.S. and we’re working very hard to support their needs for all the data consumption that is being put on these networks,” he said. Moreland cited figures from Cisco Systems, Inc. estimating that between now and 2018, current data consumption on networks will increase by a factor of eight. “We feel we have a very long runway of growth as we all continue to load these networks,” Moreland said. (Source: REIT.com)
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