CTI Towers Announces Acquisition of 180 Wireless Towers from Uniti Group
CARY, N.C., Nov. 15, 2022 /PRNewswire/ -- CTI Towers, Inc. ("CTI Towers"), a leading owner and manager of wireless towers, today announced the acquisition of 180 towers located in 14 states from Uniti Group Inc. ("Uniti") (Nasdaq: UNIT), a real estate investment trust engaged in the acquisition and construction of mission critical communications infrastructure. CTI Towers is a portfolio company of Palistar Capital LP ("Palistar"), an alternative asset manager focused on telecommunications infrastructure investments.
CTI Towers, one of the largest private tower companies in the US, currently owns and manages more than 1,200 towers across 47 states, which are leased by established carriers including AT&T, DISH, T-Mobile and Verizon. With this acquisition, the company significantly expands its presence in the Southeastern region of the US. This is the second transaction CTI Towers has announced this year, following its acquisition of SCI Towers in May.
"We are pleased to expand our growing portfolio with the acquisition of these towers from Uniti," said David Bacino, CEO at CTI Towers. "The towers will support our continued efforts to increase connectivity for our wireless carrier customers and their clients."
CTI Towers, Inc., based in Cary, NC, is one of the largest private tower companies in the U.S. Founded in 2011 with an investment from Comcast Ventures, the company was acquired by Palistar in 2020. The company operates over 1,200 wireless communications towers across 47 states in the continental US and leases tower space to major wireless carriers, which include AT&T, DISH, T-Mobile and Verizon as well as broadcasters, utility companies, internet service providers and government entities. To learn more about CTI Towers, visit www.ctitowers.com.
Palistar Capital LP is an alternative asset manager led by Managing Partner and sole Founder, Omar Jaffrey, focused on communications infrastructure. The firm seeks to invest through direct asset ownership as well as by developing innovative financing solutions to complex problems for leading global communications companies. To learn more about Palistar, visit www.palistar.com.
Media Contacts
CTI Towers
Lisa Linares
llinares@ctitowers.com
(919) 415-0959
Palistar Capital
Mary Beth Grover / Keely Gispan
ASC Advisors
mbgrover@ascadvisors.com / kgispan@ascadvisors.com
(203) 992-1230
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SOURCE CTI Towers, Inc.
