CTI Towers buys wireless towers in North Dakota from SRT Communications
Deal will bring 5G access to rural areas
CTI Towers, Inc. ("CTI Towers"), a owner and manager of wireless towers and a portfolio company of Palistar Capital LP, an alternative asset manager focused on mission-critical communications and digital infrastructure, today announced the purchase of 56 towers in North Dakota from SRT Communications Inc. ("SRT"), the state's largest telecommunications cooperative. The acquisition significantly expands CTI Towers' footprint in the region.
"We are excited to announce this transaction, which will provide crucial 5G access to end users in a rural area," said David Bacino, CEO of CTI Towers. "As we continue to expand our portfolio of wireless infrastructure assets, CTI is proud to share that we now own and manage over 1,800 towers throughout the U.S."
Cassidy Hjelmstad, CEO and General Manager of SRT said: "CTI Towers is one of the premier tower companies in the U.S., and we are pleased to partner on this transaction with David and his team."
In December 2023, CTI Towers announced the acquisition rights for 525 towers located in Louisiana, Texas, North Carolina, South Carolina and California from Conterra Ultra Broadband Holdings, Inc., one the largest independent fiber bandwidth providers in the U.S.
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