In recent weeks, we have heard evidence that the market for existing tower portfolios is red hot. Towers are bought and sold on the basis of a multiple of annual net cash flow. The multiples on recent deals for cell towers have been steadily increasing and are approaching rates that are significantly higher than those seen in the last four years.
Primarily this is due to a number of new tower companies that are being headed up by prior Big 5 tower company executives. Additionally, access to capital for tower acquisitions is both cheap and readily available. Add to this the resurgence of some companies that have been absent from the acquisition market for a while (Crown Castle, SBA, ATC) and the market keeps growing.
It is Steel in the Air’s belief that this market will continue to increase in the near term future. If we owned any towers right now, they would definitely be on the market. Whether or not you own a single tower or a large portfolio, you should consider getting a free evaluation of the value of your portfolio. You will be surprised at what they are currently worth. Contact ken@www.steelintheair.com for more details.
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