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FOR IMMEDIATE RELEASE
Contact: Terry Armant, 561.995.0320
Global Tower Partners Acquires Certain Tower Assets from Shared Towers
GTP Picks Up Thirty-Eight (38) Strategic Towers
BOCA RATON, FL, December 2 – Global Tower Partners (“GTP”)
today announced the definitive
closing of thirty-eight (38) wireless communication tower assets from Shared Tower
Sites, LLC (“Shared”). The Shared tower acquisition will contribute key tower assets
in the Northeast, Mid-Atlantic and Southeast regions of GTP’s rapidly growing national
tower portfolio.
"The Shared portfolio continues our expansion
into the Northeast and Mid-Atlantic
portion of the United States," said Marc C. Ganzi, Chief Executive Officer,
Global Tower Partners. “We are very pleased to add these towers to our portfolio and want
to commend the Shared Tower management team on the successful completion of this
transaction.”
"The Shared portfolio is a perfect fit to our existing core tower portfolio and
will serve the growing needs of our wireless customers” said Terry Armant, Senior
Vice President of Development, Global Tower Partners.
"The TCP portfolio is a natural fit with GTP’s existing towers in our core markets”
said Terry Armant, Senior Vice President of Development, Global Tower Partners.
"Furthermore, we are excited to finish the great work that TCP has started in the
Northeast and helping our mutual customers address their rapidly growing coverage
needs in this part of the country."
Post the closing of the Shared acquisition, GTP will own, manage and master lease some 7,250 sites throughout the United States, including over 1,840
owned communications towers. The transaction closed on November 30, 2005. Media Venture Partners, the
San Francisco-based investment banking firm, exclusively represented Shared in the transaction.
As privately held entities, GTP and Shared 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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