Global Signal acquires Triton PCS towers
Communications tower management firm Global Signal announced today it will acquire 169 wireless towers from wireless service provider Triton PCS. The $55.1 million transaction is expected to close in the second half of this year.
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The towers are primarily located in the North Carolina markets of Charlotte, Raleigh and Greensboro, with additional sites scattered across the state. Global Signal will also acquire Triton PCS tower sites in South Carolina and Puerto Rico.
Per the terms of the transaction, Global Signal and Triton PCS agreed on a 10-year master lease agreement at an initial monthly rate of $1850 for each of the towers, with three five-year lease renewal options.
Global Signal additionally obtains the exclusive option to purchase 70 other existing towers currently owned by Triton, as well as an option on any new towers constructed by the carrier during a one-year period.
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© 2012 Penton Media Inc.
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