What lies beneath
Ground lease aggregators disrupt the tower industry
Ground lease aggregators exploit a gap in many towerco’s business models – few of the US towercos own more than a third of the land under their towers.
Often targeting the highest value sites, which boast the most tenants, ground lease aggregators painstakingly canvass site owners with a proposition to transfer or buyout expiring leases. As such, lease aggregators are felt by some to do be a threat to the towerco business model as they transfer margin from towerco’s to land owners’ balance sheets.
As lease aggregators start to attract big-ticket PE-investment, TowerXchange thought it was time we looked at the model and examined whether this layer of the tower industry could take root in emerging markets.