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Strategic Wireless Buys Multi-State Tower Portfolio

Strategic Wireless Infrastructure Funds Management LLC, a private placement sponsor and the wireless infrastructure division of Strategic Capital Fund Management, has purchased a wireless tower portfolio of real estate and other related assets.

Strategic Wireless Infrastructure Funds Management LLC, a private placement sponsor and the wireless infrastructure division of Strategic Capital Fund Management, has purchased a wireless tower portfolio of real estate and other related assets located throughout multiple states including New York, Delaware, Massachusetts, Pennsylvania and Florida. Financial terms were not disclosed.

The company indicated that a majority of the sites, all of which were constructed in 2015 or later, support at least two of the major wireless carriers which make up most of the portfolio’s lease revenue. Each site has excess capacity for additional broadband or broadband-equivalent tenants, and the company plans to pursue additional wireless carriers, governmental agencies and other wireless providers to maximize occupancy on the newly acquired towers.

“This acquisition helps to further diversify our growing portfolio of high-quality, telecommunications infrastructure assets throughout the U.S,” said Jerry Sullivan, chief executive officer of Strategic Wireless. “We continue to exercise extreme discipline in our acquisition and development programs focusing on unique opportunities that help mitigate risk by delivering revenues associated with the country’s top wireless carriers and other credit-worthy tenants.”

The company sponsors Strategic Wireless Infrastructure Fund LLC, which according to a filing with the Securities and Exchange Commission, is a Regulation D fund structured as a 506(b) that 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 independent operators and developers throughout the U.S.

For more Strategic Wireless/Strategic Capital Fund Management news, visit their directory page here.