ATLANTA, Feb. 19, 2025 /PRNewswire/ -- Meritage Group LP and its affiliated funds ("Meritage Group") and TowerPoint Capital ("TowerPoint Capital") today announced the recapitalization of their portfolio of mission-critical wireless infrastructure assets into a newly formed, open-ended vehicle, TowerPoint Infrastructure Partners LLC. The transaction closed in December 2024.
TowerPoint Infrastructure Partners is a leading U.S. wireless infrastructure platform that owns and operates one of the largest privately-held portfolios of macro cell towers, rooftops, and land cell sites across the United States. The venture is supported by a dedicated originations team driving portfolio growth and a senior management team with over 20 years of industry experience.
This transaction was led by Meritage Group. Jared Halperin, Head of Real Estate at Meritage Group and Board Member at TowerPoint stated "We have achieved significant growth and enhanced the operational capabilities of this business over the last six years. This transaction underscores our commitment to continuing to build the premier wireless infrastructure platform in the United States, and we are pleased to welcome Ullico Infrastructure Fund as a capital partner."
Jesse Wellner, CEO of TowerPoint Capital, said, "This transaction represents a significant achievement for our team and expands our business capabilities with respect to operating and acquiring mission-critical real estate in strategically defensive locations across the United States. We remain eager to deliver exceptional value to mobile network operators, property owners, and communities that rely on advanced wireless connectivity. We are grateful for our longstanding and continuing partnership with Meritage Group, and our teams look forward to expanding the platform with Ullico Infrastructure Fund."
TD Securities served as financial advisor to TowerPoint Infrastructure Partners. Davis Polk & Wardwell LLP and Akin Gump Strauss Hauer & Feld LLP acted as legal counsel to TowerPoint Infrastructure Partners. Weil, Gotshal & Manges LLP acted as legal counsel to TowerPoint Capital.
About TowerPoint Infrastructure Partners
TowerPoint Infrastructure Partners is a premier digital infrastructure platform specializing in the acquisition, development, and management of mission-critical telecommunications infrastructure and wireless real estate assets. With a strategic focus on the nation's most essential and fast-growing population centers, TowerPoint Infrastructure Partners is committed to addressing the increasing demand for high-quality, expertly managed infrastructure in dense, high-growth markets, delivering reliable and scalable solutions that drive the digital age.
About Meritage Group
Meritage Group is a fundamentally-oriented investment firm with assets under management in excess of $13 billion as of January 1, 2025. Meritage Group invests in public and private equity, credit, and real estate. The firm has approximately 55 employees in offices located in Greenwich, New York City, and San Francisco.
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SOURCE TowerPoint
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