Crown Castle (CCI) to Acquire Ground Lease Assets from WCP in $180M Cash Deal; Will Assume $320M of Debt
Tweet
Share
E-mailGet Alerts CCI Hot Sheet
Join SI Premium – FREE
Crown Castle International Corp. (NYSE: CCI) has entered into a definitive agreement to acquire from Wireless Capital Partners, LLC ("WCP") a portfolio of ground lease related assets for approximately $180 million in cash and the assumption of approximately $320 million of debt.
The portfolio includes approximately 2,300 ground lease related assets, including over 150 related to Crown Castle towers. The assets being acquired generate annual cash flow of approximately $42 million, with 80% generated from the big four carriers. The acquisition is expected to close in the first quarter of 2012.
The portfolio includes approximately 2,300 ground lease related assets, including over 150 related to Crown Castle towers. The assets being acquired generate annual cash flow of approximately $42 million, with 80% generated from the big four carriers. The acquisition is expected to close in the first quarter of 2012.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Crown Castle (CCI) call put ratio 1 call to 1.7 puts on 7K contracts
- Crown Castle to Present at the Bank of America 2026 Media, Communications & Entertainment Conference
- Tidewater completes acquisition of Wilson Sons Ultratug
Create E-mail Alert Related Categories
Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
