StratCap Acquires $90 Million in Digital Infrastructure Assets
StratCap LLC, a privately held alternative investment management platform, announced that in the second quarter of 2023 the company acquired nearly $90 million of digital infrastructure assets including 13 cell towers and a data center.
The 13 cell tower acquisitions included both individual and portfolio transactions with towers located throughout Missouri, Wisconsin, Florida, Tennessee, and New York. StratCap says primary tenants on the towers include the various carriers, AT&T, Verizon, T-Mobile, Dish, Wisconsin Electric Power Company, Wisconsin Power & Light, and an AT&T affiliate that supports AT&T’s First Net Network, which is dedicated to first responders.
Todd Rowley, head of StratCap’s Wireless Infrastructure Platform, said, “The ongoing deployment of 5G networks and continuous increases in mobile data usage are catalyzing both growth and investor appetite in what we believe is a very resilient sector.”
The company also acquired a 127,000-square-foot data center in Toronto, Canada. The facility includes two premier credit-rated tenants, ready access to rich fiber connectivity and 10 megavolt amperes, a unit used for measuring apparent power, of installed critical capacity, with plans to increase to 27MVA.
The acquisition was part of an institutional joint venture wherein StratCap took a minority stake in the property, yet led the acquisition process and will continue to manage the overall facility.
“This is a mission critical facility that plays a vital role in the digital economy,” Bryan Marsh, head of StratCap’s Global Data Center Platform commented. “We are excited to align ourselves with a valued institutional partner to participate in such a dynamic asset with in-place rental income, exceptional tenants, and a value-add growth opportunity though potential expansion.”
StratCap says it remains bullish on digital infrastructure given demand drivers like the increasing number of connected devices, growing mobile data usage, the essential role of connectivity in our lives, and new technologies like 5G, autonomous cars, artificial intelligence and more.
Jim Condon, managing partner of StratCap, said, “Digital transformation is moving deeper into all aspects of the global economy and our personal lives. Digital infrastructure assets like cell towers, data centers, fiber networks, and the like, play a mission critical role in making it all work, as well as creating a solid, scalable foundation for the future.”
StratCap is a privately held, global alternative investment management platform that focuses on a range of digital economy investments with an emphasis on digital infrastructure, sustainability and technology-centric sectors.
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