Thursday, May 5, 2016

Vertical Bridge Acquires Tower Portfolio from Alaska Wireless Network

The Alaskan operation said during its financial results conference call two months ago it was shopping its tower assets and it looks like a buyer from Florida has answered the bell. Vertical Bridge said late Wednesday it will scoop up 275 sites from General Communications, Inc. (GCI), including 200 towers and 70 rooftop locations, operated by Alaska Wireless Network. Vertical Bridge will also provide build to suit services to the network for the next five years in the sale-leaseback deal valued at $91 million. When the transaction closes, Vertical Bridge will be the largest tower owner in the state of Alaska with approximately 300 wireless/broadcast sites.
“Vertical Bridge is excited to be chosen as a long term partner with AWN,” said Alex Gellman, Vertical Bridge’s CEO and co-founder. “These are unique, high quality, fiber ready towers built in very good locations. The tower portfolio provides full coverage of the major population centers and the vast connecting corridors in this great state.” Continue Reading

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