Phoenix Tower acquires 197 towers from Tower Ventures

Phoenix Tower acquires 197 towers from Tower Ventures

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Phoenix Tower International (PTI) has closed the transaction for a 100% ownership interest in Tower Ventures Holdings.

Through the undisclosed deal PTI now has full ownership and control over high quality wireless communications infrastructure assets strategically located along the Atlantic seaboard, South and the Midwest of the US.

"PTI is excited to invest further in the United States and continue to grow its tower portfolio in advance of significant 5G deployments and ongoing 4G densification across the country," said Dagan Kasavana, chief executive officer of Phoenix Tower International.

"The Tower Ventures team has a great reputation and has constructed and operated high quality sites that we believe will see continued growth through lease-up and provide the wireless operators more best in class locations to achieve their network coverage needs alongside our existing towers and growing DAS and small cell business. 

“We are proud we have completed this transaction with Tower Ventures and look forward to working with them across the United States in the future."

By owning these 197 wireless communication towers, the company says it further boosts PTI's position as a leader in private tower in the Americas. 

"Dagan and the wonderful team he has built in the past seven years, were an absolute pleasure to work with on this transaction. They are professional, intelligent and have immense knowledge of the tower industry,” said William Orgel, president and CEO of Tower Ventures.

“Tower Ventures looks forward to a continued relationship with PTI as we move forward in developing more towers and managing our remaining portfolio of owned and managed sites."

At the start of the year, PTI entered into purchase, sale and master lease agreements with Telefónica over towers in Ecuador and Colombia.

The was with Telefónica Ecuador for 1,408 tower sites and it has also completed the purchase of 621 towers from Telefónica Colombia, bringing the total number of towers it has in Colombia to 1,046.

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