StratCap, a privately held alternative investment management platform, reported that its wireless infrastructure division, StratCap Wireless, has purchased 14 cell towers for approximately $20.3 million. The majority of the towers are located in and around the Oklahoma City metropolitan area with one tower in Wichita, Kansas.
The towers include 23 existing tenant leases with the top three wireless carriers (Verizon, AT&T and T-Mobile) who make up 100 percent of rental revenues, the company said. The towers have capacity for new tenants, and the company’s management believes that “lease modifications could occur as current tenants are likely to upgrade their sites with 5G equipment at some point.”
“Oklahoma City is an excellent wireless market,” said Todd Rowley, CEO of StratCap Wireless. “It is the 41st largest metropolitan statistical area and one the fastest growing MSAs in the country with significant land area throughout the metro area. This presents considerable engineering challenges and complexities when building a mobile network.”
However, Rowley believes that “the towers’ strategic locations add to the appeal of the portfolio.”
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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