Strategic Wireless Infrastructure Funds Management, LLC. (“Strategic Wireless”) announced that it has acquired a portfolio of cell towers located in various counties throughout Iowa. Several of the telecom industry’s leading wireless carriers serve as anchor tenants on the towers and are joined by a host of other organizations.
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Cell Tower in Eastern Iowa (Photo: Business Wire)
The towers are at approximately 50% capacity, which management believes provides significant upside and value creation upon lease-up. Management expects to pursue additional wireless carriers, governmental agencies, radio stations, wireless internet service providers and others to help maximize occupancy on the towers.
Jerry Sullivan, CEO of Strategic Wireless, stated, “We believe this acquisition highlights our expertise and commitment to creating strategic partnerships not only with tower owners and developers but with the wireless operators as well. This was a complex and challenging acquisition that served to accentuate the unique experience and robust capabilities of our management team.”
About Strategic Wireless
Strategic Wireless is an investment manager and capital partner focused on acquiring, building and managing telecom infrastructure assets that support mobile and internet connectivity. To help achieve its investment objectives, Strategic Wireless establishes mutually beneficial partnerships with select independent operators and developers throughout the U.S. The company’s goal is to align interests, provide transparency and offer fair pricing to ensure longstanding working relationships for years to come.