Following up on an August contract announcement, Phoenix Tower International has finalized an acquisition of ownership/management of 600 tower sites from carrier T-Mobile US.
Phoenix Tower owns and operates towers in the U.S., Latin America and the Caribbean. The company is based in Boca Raton, Fla.
In August, when the pending deal was first made public, Phoenix Tower CEO Dagan T. Kasavana said: “We are incredibly excited to transact with T-Mobile and believe these locations are well situated for additional lease-up opportunities as the wireless operators continue to expand and improve their networks. The PTI management team has significant experience operating and leasing tower sites in the United States and is thrilled to have a significant portfolio of high-quality sites in the United States to offer to our customers. Furthermore, this transaction represents another milestone in Phoenix Tower’s expansion and allows us to service our customers’ strategic needs across the Americas.”
Kasavana, in comments made Nov. 16, praised merger and acquisition adviser and financial backer, TD Securities, for putting the deal together.
“The closing of this credit facility with Toronto Dominion was crucial to the acquisition of the sites [from] T-Mobile. Furthermore, TD’s facility provides additional financing for development and acquisition opportunities in the United States where we want to continue to build momentum after our transaction with T-Mobile. TD is a market leader in tower financing and we are excited to work with them in our continued expansion in the United States.”
Founded in 2013, Phoenix Tower describes its strategy as “to be a premier site provider to wireless operators across various high-growth markets internationally.”
