Earlier this year, it was announced that Vertical Bridge would be acquiring CiG Wireless for an estimated $143 million. The acquisition will include not only CiG’s business team, but will also increase Vertical Bridge’s tower portfolio by more than 200 towers. Following the purchase, Vertical Bridge’s tower portfolio is expected to grow to over 2,500 towers in the United States.
Former Global Tower executives formed Vertical Bridge following American Tower’s acquisition of Global Tower in 2013 for $3.3 billion. While Vertical Bridge is a relatively new player in the cell tower industry, its executives have been very aggressive in growing their portfolio in hopes of duplicating the success they enjoyed at Global Tower. Vertical Bridge has embarked on expanding their portfolio by both acquiring towers from other companies, as well as pursuing land rights at individual sites. The acquisition of over 200 cell towers from CiG Wireless is only the latest move by Vertical Bridge. In December of 2014, it was announced that Vertical Bridge was acquiring over 400 towers purchased from iHeartMedia for $400 million, as well as nearly 600 towers from U.S. Cellular for $159 million.
At Vertical Consultants, we always endeavor to keep landowners informed of movement in the industry and how it may affect them. These transactions are just the latest in an overall trend towards consolidation of assets in the cell tower industry. With each portfolio acquisition, there is a chance that your cell tower agreement was transferred and that your tenant has changed. Depending on the wording of your individual site agreement, this may occur without your consent or even without you receiving notice of the transfer. If you have questions about your right in the event of your agreement being sold or are concerned about the long-term prospects of your lease, an advisor at Vertical Consultants is available to assist you!
When a tower company acquires new tower site agreements, many landowners are contacted for term extensions. This is because the tower companies are spending a lot of money for the rights to your land, and they want to secure that investment for as long as possible. In fact, at Vertical Consultants we have seen many landowners who were presented lease extensions through 2099! If you are being contacted for a lease extension, or if a tower company is contacting you to lease rights in your property, the company has placed a high monetary value on your land. The best time to strike your optimal agreement is during the initial lease negotiation, as well as during lease extension discussions. At Vertical Consultants, we will maximize your results to ensure you receive the most money and best landowner rights possible! We have worked with all the biggest cell tower industry players, including Vertical Bridge, so call today for your free consultation.
In 2016, Vertical Consultants averaged an immediate 322% increase in rents being received by its clients, and since 2010, has been able to assist its clients in the recovery of over 300 years worth of combined underpaid, and, in some cases, unpaid rents and other expenses that were rightfully due to these property owners located throughout North America.
To learn more about our services, visit https://www.celltowerleaseexperts.com or contact Vertical Consultants at info(at)vertical-consultants(dot)com or 877.456.7552.