Strategic Wireless Infrastructure Funds Management LLC, an investment manager focused on telecom infrastructure assets, has acquired a portfolio of cell towers located in various counties throughout Iowa. Financial terms were not disclosed.
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 said that several of the telecom industry’s leading wireless carriers serve as anchor tenants on the towers and are joined by a host of other organizations.
The towers are at approximately 50 percent capacity, which management believes provides upside and value creation upon lease-up, and expects to pursue additional wireless carriers, governmental agencies, radio stations, wireless internet service providers and others to help maximize occupancy on the towers.
“We believe this acquisition highlights our expertise and commitment to creating strategic partnerships not only with tower owners and developers but with the wireless operators as well,” said Jerry Sullivan, chief executive officer of Strategic Wireless. “This was a complex and challenging acquisition that served to accentuate the unique experience and robust capabilities of our management team.”
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.