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FOR IMMEDIATE RELEASE
Contact: Terry Armant, 561.995.0320
Global Tower Partners to Acquire Tower Assets of Titan Towers
Acquisition Provides GTP with Significant Footprint in South Central United
States.
BOCA RATON, FL, April 9 – Global Tower Partners (“GTP”)
today announced the signing
of a definitive agreement to acquire all of the wireless communications towers from Titan Towers, L.P.. Titan Towers is a privately held tower management
company with
260 towers located throughout the United States.
"The Titan acquisition is consistent with our investment thesis of acquiring and
owning assets in key South Central markets in the United States," said Marc C. Ganzi, Chief Executive Officer,
Global Tower Partners. “Beyond the Titan acquisition, GTP
will continue to acquire and develop new wireless facilities that meet and address
the coverage needs of our wireless partners.”
"The Titan portfolio compliments our existing towers and rooftops in the central
United States and provides us with a dominant presence of nearly 200 plus towers
in the state of Texas” said Fred Kleber, Vice President of Operations, Global Tower Partners.
"Furthermore, the portfolio will address the growing needs of our customers
in enhancing
their wireless voice and data networks in these core GTP markets."
Post the closing of the Titan acquisition, GTP will own or master lease some 3,250
sites, including 507
owned communications towers. The transaction is expected to
close in stages over the next three to six months.
As privately held entities, GTP and Titan Towers
consider the terms and conditions of the
definitive agreements proprietary.
About Global Tower Partners
Since being founded in late 2003, Boca Raton based Global Tower Partners (http://www.gtpsites.com)
is one of the fastest growing and leading providers of outsourced antennae site
facilities to the wireless communications industry in the United States. Backed
by The Blackstone Group of New York City, GTP's core business includes the ownership,
development, leasing and management of antennae sites on towers and commercial real
estate rooftops. GTP owns, manages or master leases more than 7,200 sites, including
1,800 owned towers located throughout the United States. GTP's customers are leading
wireless communications providers including Sprint-Nextel, Cingular Wireless, T-Mobile
USA, Verizon Wireless, Centennial Wireless, Dobson Communications and Nextel Partners.
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