American Tower Corporation (ATC) has purchased 66 towers from Brazil’s TIM Cellular S.A., and CTI Towers, Inc. has acquired the marketing rights to 125 commercial properties.
ATC paid $8 million for the 66 towers as part of a continuing deal that began in 2014 when TIM said it would sell up to 6,481 towers. Currently, 5,753 towers have been sold.
In 2014, ATC announced that it would pay TIM $1.2 billion for the 6,481 towers.
CTI Towers, a leading wireless infrastructure company, has entered in an agreement with Triple R Associates, an affiliate of Roschman Enterprises, to market and promote the commercial locations and properties of Triple R.
“The Roschman business entities offer products and services in all 50 states. Our family of businesses excel in the areas of hospitality, restaurant, technology, financial services, marketing, commercial real estate, development, marina and property services,” said Brian Smith, VP of Roschman Enterprises. “We welcome the opportunity to work with CTI as they endeavor to resolve the wireless coverage gaps throughout the country.”
CTI will initially be marketing the commercial locations and buildings owned by Triple R in Florida, Ohio, and Maryland.
“We look at this opportunity with Triple R as a way to solve a number of issues for the wireless carriers in a number of locations. Obviously, to work towards the goal of seamless coverage by constructing a tower, if needed, or by utilizing the existing buildings as small-cell locations,” stated CTI’s CEO, Tony Peduto. “In addition, we will be working with Triple R to improve the overall in-building coverage for the office parks where signal degradation impacts the existing tenant base.”
CTI owns and operates towers in most of the states where the Triple R properties are located. “The synergies are good and having established customer relationships in the markets should make the integration process go smoothly,” Peduto added. “Triple R’s portfolio includes some of the best locations in these markets with office parks and commercial shopping malls as part of the portfolio.”
With the agreement on the Triple R portfolio, 2016 will be the largest growth year in CTI’s history.