Strategic Wireless Infrastructure Funds Management LLC, an investment manager focused on telecom infrastructure assets, has purchased a telecommunications rooftop easement that supports wireless network services. Financial terms were not disclosed.
Located in Spartanburg, South Carolina, the easement acquisition provides exclusive telecom rooftop rights for a period of 99 years. A portion of the easement is currently leased to an existing Tier 1 wireless carrier under a long-term lease agreement. The company said that the carrier has been leasing and utilizing the rooftop for its wireless services in the downtown Spartanburg area since the 1996.
With the capacity to support additional tenants, the company said that it is working to maximize occupancy for this newly acquired rooftop easement.
According to a filing with the Securities and Exchange Commission, Strategic Wireless Infrastructure Fund LLC is a Regulation D fund structured as a 506(b) that filed its registration statement in May 2019 and seeks to raise up to $100 million.
Strategic Wireless focuses on acquiring, building and managing telecom infrastructure assets that support mobile and internet connectivity and establishes partnerships with select independent operators and developers throughout the U.S.