Everest Infrastructure Partners has acquired 70 telecom towers from Tower Ventures. Memphis-based Tower Ventures states on its website that it owns more than 400 towers across the US. The company has previously sold 202 towers to Phoenix Tower International.

Everest notes that the tower portfolio is comprised of 83 percent broadband tenancy and is "well-positioned for substantial future leasing growth to support 5G wireless network expansion."

“We are pleased to transact with the Tower Ventures management team and look forward to delivering strong future growth on these high-quality tower assets,” said Mike Mackey, president of Everest Infrastructure Partners. 

“The towers acquired from Tower Ventures are strong complements to the existing Everest portfolio of nearly 2,000 US tower assets.  A large portion of the towers are newly developed towers located in areas that have high expectations for future leasing growth.”