09/19/2011, GTP
Boca Raton, FL - September 19, 2011 - Global Tower Partners (GTP) today announced the acquisition by GTP of GS Cell Site Holding LLC from GS Global Infrastructure Partners I.
GS Cell Site Holding LLC owns a portfolio of property interests relating to over 1,600 communications sites, including rooftop easements, ground easements and owned land under third party wireless communications towers, and easements of third party structures on which wireless carriers telecommunications equipment is collocated. The transaction includes the leasing and marketing rights to these structures as well as the pre-existing recurring cash flow generated from these sites pursuant to the underlying real estate rights.
"GTP views this acquisition as an excellent opportunity to acquire rights to market and lease premier rooftop and tower locations to our customers while investing in the high quality rent roll currently in place" said Marc C. Ganzi, Global Tower Partners Chief Executive Officer. "This acquisition also represents a further investment in the wireless infrastructure ecosystem for GTP as the underlying real estate rights acquired are long-term in nature, allowing us to better serve our wireless customers for the life of their underlying occupancy at these sites."
GTP is majority owned by infrastructure funds managed by Macquarie Infrastructure Partners Inc. (MIP). TAP Advisors and Goldman, Sachs & Co. acted as financial advisors to GS Cell Site Holding LLC. Shearman & Sterling LLP acted as legal advisor to GS Cell Site Holding LLC. Simpson Thacher & Bartlett LLP acted as legal advisors to GTP and MIP.
About Global Tower Partners
Global Tower Partners (www.gtpsites.com), based in Boca
Raton, Florida, is one of the leading providers of outsourced
antenna site facilities to the wireless communications industry in
the United States. GTP's business includes the ownership,
development, leasing and management of antenna sites on towers and
commercial real estate rooftops. GTP owns, manages, or master
leases more than 13,000 wireless sites. GTP's customers are leading
wireless communications providers including AT&T,
Sprint-Nextel, Verizon Wireless, T-Mobile USA, Leap Wireless,
Clearwire, US Cellular, and Metro PCS.
About Macquarie Infrastructure Partners
Inc.
Headquartered in New York, Macquarie Infrastructure Partners Inc.
manages diversified unlisted funds focusing on infrastructure and
infrastructure-like investments in North America. MIP is a wholly
owned subsidiary of Macquarie Group Limited (Macquarie), a global
provider of banking, financial, advisory, investment and funds
management services. Founded in 1969, Macquarie employs more than
15,500 people in approximately 70 office locations in over 28
countries. As of March 31, 2011, Macquarie had assets under
management of US$321 billion.
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Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries and has assets under management totaling nearly $200 billion USD as of September 2009.
