InSite Towers, LLC Acquires 40 Tower Sites from Sierra Nevada Property Management
Jun 7, 2010
InSite Towers, LLC (“InSite Towers”), owner, operator, and manager of wireless communication tower site facilities throughout the United States and Puerto Rico, today announced that, on behalf of itself and Vangard Wireless, LLC, its wholly-owned subsidiary, it has closed on the purchase of 40 tower sites from Sierra Nevada Property Management, LLC. The new assets include cell towers, related tower site equipment and infrastructure, related real property interests, and all customer collocation agreements pertaining to the tower assets.
“This acquisition creates significant strategic value for InSite Towers, as well as enhances the value of our already existing western region tower assets,” stated David E. Weisman, InSite’s President and CEO. “We are excited about adding these attractive assets to our existing portfolio.”
The transaction was the result of exclusive negotiations between InSite Towers and Sierra Nevada Property Management. The law firm of Sutin, Thayer & Browne P.C. represented Sierra Nevada Property Management; InSite Towers was represented by its General Counsel, Roni D. Jackson, together with the law firm of Locke Lord Bissell & Liddell LLP.
With the completion of this acquisition, InSite Towers now owns and operates nearly 400 communication towers. More information on InSite’s business can be found at http://www.insitewireless.com/.
About InSite Towers, LLC
Founded in October of 2006, InSite Towers, LLC is a privately owned wireless communication tower company headquartered in Alexandria, VA. InSite Towers owns and operates approximately 400 wireless communication tower sites in the United States and Puerto Rico. InSite’s parent company, InSite Wireless Group, LLC, also owns InSite Wireless, LLC, which specializes in the design, installation, operation, and maintenance of distributed antenna system (DAS) infrastructure solutions in convention centers, hotels and casinos, airports, sports stadiums, and transit systems.