BOCA RATON, Fla., Aug. 4, 2015 /PRNewswire/ -- Phoenix Tower International ("PTI") announces that it has entered into a contract with T-Mobile to acquire the ownership or management rights relating to approximately 600 wireless communication tower sites including the exclusive right to manage and operate the sites from T-Mobile ("T-Mobile") via PTI's local US subsidiaries. "We are incredibly excited to transact with T-Mobile and believe these locations are well situated for additional lease-up opportunities as the wireless operators continue to expand and improve their networks. The PTI management team has significant experience operating and leasing tower sites in the United States and is thrilled to have a significant portfolio of high quality sites in the United States to offer to our customers. Furthermore, this transaction represents another milestone in Phoenix Tower's expansion and allows us to service our customer's strategic needs across the Americas," stated Dagan Kasavana, Chief Executive Officer of Phoenix Tower International. Terms of the transaction remain confidential between the parties.
TD Securities (USA) LLC served as M&A Advisor to PTI and provided financing for the transaction. Locke Lord, LLP acted as legal advisor to PTI. TAP Advisors served as exclusive financial advisor to T-Mobile. Lape Mansfield Nakasian & Gibson, LLC acted as legal advisor to T-Mobile.
About Phoenix Tower International:
Phoenix Tower International ("PTI") owns and operates towers and other wireless infrastructure and related sites throughout Latin America, the Caribbean and the United States. PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across various high-growth markets internationally. Phoenix Tower International and its affiliates currently own and operate wireless infrastructure in Costa Rica, Panama, the Dominican Republic, Colombia the United States and Brazil. PTI's investors include funds managed by Blackstone Tactical Opportunities, as well as various members of the management team. PTI is based in Boca Raton, Florida. For more information about Phoenix Tower International, please visit www.phoenixintnl.com
SOURCE Phoenix Tower International