CTI Towers sells 294 towers to InSite
InSite Wireless Group has acquired 294 communication tower sites from CTI Towers of Franklin.
A statement Wednesday from InSite said the assets purchased also include tower site equipment and infrastructure, related real property interests, and wireless carrier and customer agreements related to the towers.
David E. Weisman, president and CEO of Alexandria, Va.-based InSite, said in the statement: “We view this acquisition as an important addition to our current tower portfolio and as clear evidence of our investors’ ongoing commitment to grow InSite’s platform of wireless infrastructure assets.”
InSite has developed and currently operates more than 20 projects across the United States in convention centers, casinos, airports, sports stadiums, and transit systems such as the Boston MBTA Subway and the Los Angeles County Metro. With the transaction, InSite now has more than 1,200 communication towers.
CTI Towers owns, operates and maintains wireless towers throughout the country. Comcast Ventures is a majority owner of the company.
CTI Towers CEO Tony Peduto said in the statement: “In the four years since launching CTI Towers, we have constructed an outstanding tower portfolio and are very pleased with the market reception. We believe InSite’s management of these assets will continue to nurture and provide the same level of operating excellence.”
WBJ Web Partners
Most Recent
Most Recent
0 Comments