Strategic Wireless Infrastructure Funds Management, LLC and its affiliate, SWI Funds Tower Holdings, LLC announced the acquisition of telecommunications assets including a cell tower, real estate and other related properties located in central South Dakota. The assets are located near the center of the state and are critical in providing wireless access and connectivity to the local rural population and businesses in the area.
One of the sellers was a group of radio stations from North Dakota-based Red River Broadcasting, owned by Kathy Lau.
The Buyer, SWI Funds Tower Holdings, LLC, is a California-based property holding company focused on acquiring, developing and managing telecom infrastructure assets that support broadband connectivity.
The price of the sale was not disclosed. In a statement announcing the transaction, Strategic Wireless stated, “Although many economic sectors are feeling the effects of the market downturn, wireless connectivity continues to display utility like importance. Critical assets like cell towers are being relied upon now more than ever as they continue to display their resilient nature in the face of economic adversity.”
Kalil & Co., Inc represented the Seller, Red River Broadcasting. “We had strong interest from a number of tower companies,” said Kalil & Co. VP Frank Higney. “The buyer is happy and the seller is happy, and that’s what counts.”