Triton will lease back the towers at an initial rate of $1,850 a month each for a 10-year term with three five-year lease extensions. In addition, Triton grants Global Signal an exclusive option to acquire its approximately 70 additional wireless communications towers along with all new towers it constructs over a one-year period. The initial sale agreement is expected to close in the second quarter of this year. Media Capital Advisors Inc., a West Chester, PA-based investment banking firm, represented Triton.
Triton operates under the SunCom Wireless brand and is licensed to provide digital wireless communications services in an area covering 14.3 million points of presence in the southeastern US and four million points of presence in Puerto Rico and the US Virgin Islands. Global Signal, which is organized as a REIT, currently owns and manages approximately 4,000 wireless communications towers and other communications sites.
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