DigitalBridge Forms New Tower Company in Iceland

DigitalBridge Group (NYSE: DBRG) announced yesterday that funds affiliated with DigitalBridge Investment Management, the firm’s investment management platform, have completed the combined acquisition of two of Iceland’s largest tower portfolios from Sýn hf. (Sýn) and Nova hf. (Nova), the leading Icelandic mobile network operators, to create ÍslandsTurnar.

ÍslandsTurnar is the first independent tower company of scale in Iceland with national coverage to support the two MNOs as they execute their 5G deployment plans. Sýn and Nova will be long-term dual-anchor tenants on all ÍslandsTurnar’s towers. The transaction includes a material build-to-suit program. The company did not disclose financial terms of the transaction or the existing and projected tower counts. Continue Reading