Global Towers Partners said it has signed a definitive agreement to acquire 51 towers from Jesta Towers, a regional developer and wireless facilities owner with a focus on the Gulf Coast region.
Terms of the acquisition were not disclosed because both companies are privately held.
GTP said it will own or master lease about 3,355 sites following the transaction, which is expected to close within the next two months.
Marc Ganzi, chief executive officer of GTP, said the Jesta acquisition represents the company’s first significant purchase of tower assets in the Southeast.
“The Jesta portfolio is an ideal complement to our existing footprint of rooftop and towers in the Southeast,” said Terry Armant, senior vice president of development at GTP. “Furthermore, these towers have exceptional barriers to entry and will no doubt enhance the coverage needs of our wireless customers in crucial growing markets.”
The announcement follows the merger of the country’s two largest wireless tower operators earlier this month. American Tower Corp. announced plans to merge with SpectraSite Inc. in an $11.3 billion deal, creating a company with more than 20,000 U.S. communications sites.
