Global Tower Partners purchases 450 tower assets along railroad right of way

Global Tower Partners acquired the wireless assets, income and attachments built on Norfolk Southern railroad property from CitySwitch L.L.C. for an undisclosed sum. The assets include CitySwitch’s tower development and marketing agreements with Northfolk Southern’s railroad, including access and master license rights to more than 450 towers and tower developments along 21,000 miles of NS right of way in the eastern and central United States.
GTP also will hire certain CitySwitch employees as part of the transaction.
“We are very excited to complete this transaction with CitySwitch and are confident that these sites as well as the development and marketing partnership with Norfolk Southern will be an exciting complement to our existing assets in key Eastern U.S. markets” said Marc C. Ganzi, CEO of Global Tower Partners. “These strategic locations will no doubt serve the needs of our customers as they continue to build out their 4th generation networks.”
“Norfolk Southern has some very strategic locations in key urban markets that will allow us to best serve our carrier partners site needs” noted Alex Gellman, president and COO of Global Tower Partners.
Norfolk Southern operates a railroad network that spans 22 states.
Global Tower Partners has been aggressive in growing its portfolio, closing on 42 acquisitions in 2009.