Monday, May 16, 2016

TowerCo Sells Grain 253 Towers, 95 Other Assets For $244 Million

It’s the third time since 2004, when TowerCo was launched, that Richard Byrne and his team of more than two dozen in Cary, NC have built up an impressive collection of tower assets and found a buyer for them. He told Inside Towers “I am extremely fortunate to have wonderful investors (Tailwind Capital Partners and Soros Fund Management) and great people working with me.” With a chuckle, Byrne added, “ I am very, very lucky.”
Grain Infrastructure II, L.P, of Sarasota, FL paid $244 million for the 253 tower spread “all over the U.S.,” Byrne said. The deal settled on May 11. Byrne said TowerCo decided to part with its third portfolio of towers last summer and began marketing it in the fall. “We are pleased with the outcome of this transaction and look forward to the continued growth of TowerCo IV which is off to a very good start.” Continue Reading

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