WESTBOROUGH, Mass.-Arch Communications Group Inc. announced it completed the second phase in selling its site management business to OmniAmerica Inc.
The three-part transaction is valued at about $38 million. In the second phase, Arch sold the towers, real estate and two management contracts to OmniAmerica for $20.5 million. Earlier, Arch collected $15 million through selling other tower-related assets.
Both companies expect the third and final phase of the sale to be completed before the end of the year. The three-phase process was necessary due to the complex nature of selling and documenting more than 150 different real-estate transactions, Arch said.
