WESTBOROUGH, Mass.—Eager to expand its portfolio, tower owner and operator Optasite Inc. completed a $125 million round of debt and equity financing.
The company also closed on a slew of site acquisitions, bringing the company’s portfolio of towers to more than 200. The acquisitions range in size from a single site to 58 towers, and are located within Optasite’s existing footprint in the Northeast and Southeast as well as Texas.
Along with the new financing, Optasite also boasts an experienced management team. The company’s president and chief executive, Jim Eisenstein, co-founded American Tower Corp., the nation’s largest tower company.
Key Venture Partners led Optasite’s equity round. Also participating were new equity investors Babson Capital Management and GE, as well as existing investors Centennial Ventures, Columbia Capital, Highland Capital Partners and Village Ventures. GE Capital Markets led the credit facility.
