Pittsburgh-based Everest Infrastructure Partners, a wireless tower company, recently completed its purchase of CNS Microwave from TC Energy Corp.
CNS Microwave’s portfolio includes wireless communication tower assets located across six states. It also has 83 percent of the portfolio’s rental income derived from AT&T, T-Mobile and Verizon tenancies.
The purchase allows Everest to further identify and structure mutually beneficial transactions with non-traditional owners of wireless infrastructure.
“This transaction continues to validate Everest’s ability to partner with sellers in adjacent infrastructure verticals that require a trusted partner for operating in and around mission-critical highly secure locations, such as sites located within TC Energy’s critical energy infrastructure facilities,” Brenton Atcheson, Everest Infrastructure Partners vice president of corporate development, said. “We anticipate these sites will provide enhanced value for the growing Everest portfolio and look forward to facilitating our customers’ needs as well as new colocation activities at the CNS tower sites as they are integrated into Everest’s seasoned tower operations and marketing program.”
Everest Infrastructure Partners has developed an aggregation platform focused exclusively on wireless infrastructure assets. It owns or markets more than 2,500 communications tower sites in the United States, Australia, New Zealand, and Portugal. Since its founding in 2015, Everest has raised more than $1.5 billion in capital commitments.