On 14 November 2016, CS&L, a U.S. based REIT which owns 4.2mn fibre strand miles (6.76mn km), 86 wireless towers, and other communications real estate throughout the United States and Mexico, announced the purchase of 359 towers from NMS for a total value of US$65mn.
The towers are spread across Mexico, Colombia and Nicaragua and have been acquired by CS&L’s LatAm subsidiary, Uniti Towers (formerly known as Summit LatAm). Here are some details of the transaction.
In Mexico, Uniti Towers acquired 205 sites (and 108 under development) with annual revenue of US$3.5mn, TCF margin around 54% and a tenancy ratio of 1.13x.