One of our clients received a letter from AT&T Mobility, LLC regarding the AT&T cell tower that stated that Global Towers, LLC – (Global Tower Partners or GTP) had acquired the tower in a transaction dated May 04, 2007.
We had heard previously that AT&T Mobility was offering the cell towers that they intended to decommission (between 400 to 700 actual towers) to the tower companies. These towers are typically towers where AT&T and Cingular had duplication in their network and no longer needed both sites. This was clearly the case here as this was a Cingular tower that was adjacent to a AT&T cell site mounted on a Sprint tower. Please note that the actual number of cell sites that AT&T/Cingular will terminate is definitely greater than 400-700- these were only the towers.
This portfolio is allegedly cashflow negative- meaning that it brings in less than the expense of operating the sites. AT&T Mobility wisely felt that they could sell these sites rather than decommission them. As there has not been an announcement by Global Towers of this purchase, we don’t know whether they purchased a portion of the towers or all of the towers. Depending upon the geographic distribution of the towers- this could be a good acquisition for Global Tower Partners. Only time (and actual lease up or lack thereof) will tell.
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