Tower One Wireless (OTCQB: TOWTF), based in Miami, FL, reported for the month of February 2022, the company completed eight new towers and has a total of 44 towers under construction in Colombia and Mexico. These towers are built-to-suit for specific clients and will provide a total, non-cancellable rent for 10 years for over $1.2 million not counting colocation revenue upside and inflation escalators.
These towers are valued at over $2.2 million. Tower One began the year with 204 towers in operation. Through the end of February, the company has completed 18 new tower builds and now owns and operates 222 towers including 41 colocation sites, supporting a total of 263 tenants. With its current construction schedule, Tower One expects to have approximately 450 towers in operation by year end.
“We have completed an additional 160 towers during 2021, which has positively contributed to the continued growth of the company’s revenue and value. Tower One has delivered on our backlog that we outlined earlier and are well positioned as a key provider in Latin America. Our goal is to continue this consistent build out in anticipation of future developments with 5G in local markets,” comments Alejandro Ochoa, Tower One Wireless CEO.
Tower One’s principal business is to build, own and operate multi-tenant wireless telecommunications infrastructure in Latin America, primarily in Mexico and Colombia, leasing space on its towers to the national and regional mobile network operators. The company operates on a build-to-suit tower model whereby a long-term lease is secured with a tenant prior to building a tower.
Tower One continues to support the efforts to deploy efficient telecommunications networks which lead to more connected and serviced communities across Latin America.
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