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TOWER COMPANY RAISES FINANCING

NEW YORK-SBA Communications Corp., a tower site development and management company, announced March 14 it had raised $50 million to help it enter the site ownership business through acquisition and construction.

Institutional investors ABS Capital Partners, TA Associates and The Hillman Co. purchased the debt in a private placement, for which Alex. Brown & Sons Inc., Baltimore, served as agent.

SBA, headquartered in Boca Raton, Fla., provides antenna facility site acquisition, zoning representation, construction and project management and site administration services for several companies that include AT&T Wireless Services Inc., Bell Atlantic Nynex Mobile, Paging Network Inc., and PrimeCo Personal Communications L.P.

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