HOLLYWOOD, Fla. – While the larger tower operators garnered most of the spotlight at this week’s PCIA Wireless Infrastructure event, they were not the only ones to make news. CTI Towers, which controls more than 800 towers across the country, said it had secured $30 million in debt financing and closed on its first third-party acquisition.
The company has to this point made a business out of acquiring tower assets from parent company and cable television giant Comcast, but noted it picked up five towers from a “major wireless carrier.” Those new towers are spread across North Carolina, South Carolina, Ohio, Mississippi and Pennsylvania. CTI added that it has already received carrier inquiries on leasing opportunities from wireless carriers concerning the new assets. Those towers will be added to the 230 towers it has acquired outright to date from Comcast.
As for the access to new financing, which was led by Comcast Ventures, CTI said it plans to use those resources to quicken its acquisition plan in an attempt to become one of markets 10 largest domestic tower operators. While not showing his hand, CTI CEO Tony Peduto explained to RCR Wireless News that those acquisition plans could include larger deals as its plans to own several thousand towers over the next couple of years will require some larger deals.
Peduto also echoed comments made during the PCIA event’s “View from the Top” executive roundtable, which featured quiet confidence from the nation’s four largest tower owners that there was still considerable runway for growth across the tower space.
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