Vertical Bridge to buy towers from Alaska Wireless Network
The value of the transaction is $91 million. AWN will be an on-going tenant on all of the sites in this sale-leaseback transaction.
With the closing of this transaction, Vertical Bridge will be the largest tower owner in the state of Alaska with approximately 300 wireless/broadcast sites.
Alex Gellman, Vertical Bridge’s CEO and co-founder, stated, "Vertical Bridge is excited to be chosen as a long term partner with AWN.
"These are unique, high quality, fiber ready towers built in very good locations. The tower portfolio provides full coverage of the major population centers and the vast connecting corridors in this great state."
"We are confident that Vertical Bridge is the right partner to take over management and operations of our portfolio of assets," said Bruce Broquet, AWN CFO.
"We are taking this opportunity to focus on investing in increased broadband coverage throughout the Alaska market." ■