Everest Infrastructure Partners acquired more than 40 tower sites located throughout the Midwest region during 2020. Included in the acquisitions are 30 on-air macro towers located in major markets with an average tower age of less than five years and an average tenancy of less than 1.5 tenants per tower.
“These are new macro towers with significant capacity for additional carriers in attractive urban and suburban locations,” said Mike Mackey, President of Everest Infrastructure Partners. “With more than a dozen completed transactions, Everest was more active in the Midwest during 2020 than ever before.”
“These recent additions to our tower portfolio offer attractive clusters around several large Midwest cities including Chicago, Indianapolis, Madison, and St. Louis,” said Chris Davis, President of US Towers for Everest. “These sites have very few competing structures and are ideally located for carriers to expand and enhance their 4G and 5G mobile services. We expect to continue growing our presence in the Midwest in 2021 and beyond with additional acquisitions and a new tower build program to complement our tower development efforts in New England and California.”
Also included in Everest’s Midwest activities in 2020 was the acquisition of the iconic Tower Center located in Bloomington, Illinois. The 420-foot structure located in downtown Bloomington provides infrastructure services to nearly a dozen tenants, including all major mobile operators and numerous broadcaster and public safety networks serving the region.
“2020 was a substantial year of growth for Everest,” added Mackey. “We completed a portfolio refinancing that raised $500 million in new capital led by Peppertree Capital Management, Inc. We closed more than 100 acquisitions during 2020 and are actively considering new opportunities both domestically and in select international markets. We expect 2021 to deliver even greater growth for Everest as the U.S. mobile infrastructure market rapidly densifies and carriers continue to deploy new spectrum and evolve their networks for 5G technologies.”
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