Monday, April 11, 2016

Crown Castle Pays $461M For Tower Development Corp.

The Houston tower giant has paid Berkshire Partners $461 million cash for the 336 towers it owns and operates in the U.S. and Puerto Rico. Crown Castle said Friday the towers have an average tenancy of about two carriers per tower.
The acquisition of Tower Development Corp. should add $25 million to $27 million to Crown Castle’s site rental gross margin in the first full year of ownership and be immediately accretive to Adjusted Funds from... Continue Reading

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