Cellular and billboard lease acquisition company Lease Advisors has formed a joint venture for wireless infrastructure with privately-held tower company InSite Wireless Group, which owns and manages about 800 cell tower and distributed antenna system sites in the U.S., Canada, Puerto Rico and the U.S. Virgin Islands.
“Pairing Lease Advisors’ proven leadership in cellular land acquisitions with InSite’s substantial experience with ownership and operation of tower sites and DAS installations will create one of the strongest joint ventures in the wireless telecommunications infrastructure industry,” said Jarred Saba, Lease Advisors’ CEO, in a statement.
InSite Wireless has committed an unspecified amount of funds to support the new relationship and the two companies expect the partnership to allow them both to grow substantially.
David Weisman, president and CEO of InSite, said the move benefits his company by “adding a division that fully understands the importance of long-term ground ownership in the wireless infrastructure business, while continuing to maintain and grow a quality tower portfolio.”
Lease Advisors is expected to benefit from InSite’s expertise in the tower industry both domestically and internationally, and it “is poised to leverage and maintain long-term partnerships with its landlords” as well as maximizing the value of the leases that it acquires with InSite through plans such as site marketing and renegotiating leases.
RCR Wireless News has ranked InSite as one of the largest privately-held tower companies in the United States. The company has towers across the U.S., with a particularly high concentration in Texas. In 2012, it acquired a majority interest in Canadian tower company Turris Sites.
