Everest Infrastructure Partners has completed the acquisition of a portfolio of wireless communications towers from Memphis, Tennessee-based Tower Ventures. The tower sites are located in 24 states with concentrations in the South and West regions. The tower portfolio is comprised of 83% broadband tenancy and is well-positioned for substantial future leasing growth to support 5G wireless network expansion.
Mike Mackey, President of Everest Infrastructure Partners
We are pleased to transact with the Tower Ventures management team and look forward to delivering strong future growth on these high-quality tower assets. The towers acquired from Tower Ventures are strong complements to the existing Everest portfolio of nearly 2,000 U.S. tower assets. A large portion of the towers are newly developed towers located in areas that have high expectations for future leasing growth.
Ben Orgel, Principal and Managing Director, Real Estate of Tower Ventures
We greatly appreciate the hard work that the entire Everest team put into this transaction and are pleased that we were able to create an outcome that is a great success for both parties. Tower Ventures takes great pride in the quality of our assets, and we are certain that Everest will deliver the level of service our customers deserve.
