NEW YORK, June 2, 2020 /PRNewswire/ -- Melody Investment Advisors ("Melody"), an alternative asset manager focused on communications infrastructure, is pleased to announce that it has closed its previously announced transaction to acquire both the Uniti Towers tower development business and over 500 US-based towers from Uniti Group Inc. ("Uniti") (NASDAQ: UNIT).
As part of the transaction, Uniti retained a 10% interest in the tower business, and Melody and Uniti will enter into a strategic relationship to collaborate on integrated solutions for wireless carriers requiring tower, fiber and small cell infrastructure.
Lawrence Gleason, President of Uniti Towers, said, "As 5G continues to rollout, increasing demand for new and improved communications infrastructure, we are pleased to partner with Melody, our new financial sponsor, to both develop new and continue to provide existing mission critical infrastructure to our carrier customers."
David Bacino, an Operating Partner at Melody and President of Melody Wireless Infrastructure, said, "This transaction represents the latest step in our ongoing growth strategy to invest in wireless infrastructure by developing and acquiring cellular properties in the U.S. We are excited about our acquisition of Uniti Towers as we seek to further expand and deepen our strong relationships with our wireless carrier partners with new locations and services."
With the closing of this transaction, Melody and its affiliates now own and market over 4,000 wireless infrastructure properties. Melody is a top five independent owner of national wireless infrastructure assets and one of the largest privately owned telecom landowners in the U.S.
About Melody Investment Advisors
Melody Investment Advisors is an alternative asset manager focused on communications infrastructure. The firm invests directly in assets and also seeks to provide innovative financing solutions to complex problems for leading global communications companies. Together with its affiliates, the Melody team has deployed over $1 billion in capital in this sector over the past six years. To learn more about Melody Investment Advisors, visit https://www.melodyinvestmentadvisors.com/
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of March 31, 2020, Uniti owns 6.3 million fiber strand miles and other communications real estate throughout the United States. Additional information about Uniti can be found on its website at www.uniti.com.
SOURCE Melody Investment Advisors