CARY,
N.C., Nov. 15, 2022 /PRNewswire/ -- CTI Towers,
Inc. ("CTI Towers"), a leading owner and manager of wireless
towers, today announced the acquisition of 180 towers located in 14
states from Uniti Group Inc. ("Uniti") (Nasdaq: UNIT), a real
estate investment trust engaged in the acquisition and construction
of mission critical communications infrastructure. CTI Towers is a
portfolio company of Palistar Capital LP ("Palistar"), an
alternative asset manager focused on telecommunications
infrastructure investments.
CTI Towers, one of the largest private tower companies in the
US, currently owns and manages more than 1,200 towers across 47
states, which are leased by established carriers including
AT&T, DISH, T-Mobile and Verizon. With this acquisition, the
company significantly expands its presence in the Southeastern
region of the US. This is the second transaction CTI Towers has
announced this year, following its acquisition of SCI Towers in
May.
"We are pleased to expand our growing portfolio with the
acquisition of these towers from Uniti," said David Bacino,
CEO at CTI Towers. "The towers will support our continued efforts
to increase connectivity for our wireless carrier customers and
their clients."
About CTI Towers
CTI Towers, Inc., based in Cary, NC, is one of the largest
private tower companies in the U.S. Founded in 2011 with an
investment from Comcast Ventures, the company was acquired by
Palistar in 2020. The company operates over 1,200 wireless
communications towers across 47 states in the continental US and
leases tower space to major wireless carriers, which include
AT&T, DISH, T-Mobile and Verizon as well as broadcasters,
utility companies, internet service providers and government
entities. To learn more about CTI Towers,
visit www.ctitowers.com.
About Palistar Capital
Palistar Capital LP is an alternative asset manager led by
Managing Partner and sole Founder, Omar Jaffrey, focused on
communications infrastructure. The firm seeks to invest through
direct asset ownership as well as by developing innovative
financing solutions to complex problems for leading global
communications companies. To learn more about Palistar,
visit www.palistar.com.
Media Contacts
CTI Towers
Lisa
Linares
llinares@ctitowers.com
(919) 415-0959
Palistar Capital
Mary Beth
Grover / Keely Gispan
ASC Advisors
mbgrover@ascadvisors.com / kgispan@ascadvisors.com
(203) 992-1230
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SOURCE CTI Towers, Inc.