StratCap is proud to announce that its wireless infrastructure and data center divisions (StratCap Wireless and StratCap Data Centers respectively) have completed the acquisition of approximately $151 million of essential digital infrastructure assets since the beginning of 2022.
The acquisitions include eighteen cell towers that were purchased for approximately $30.3 million and are located in California, Oklahoma, Kansas, Georgia, Florida, Tennessee, and Connecticut. In addition, the company closed on four data centers that were acquired for an aggregate purchase price of approximately $120.9 million.
The cell towers and other related assets are geographically diverse and tenants are highlighted by the major wireless carriers which include Verizon, AT&T and T-Mobile among others. While each tower includes at least one top-tier broadband tenant, there is still capacity throughout most of the towers to accommodate additional tenants, thus creating attractive lease-up opportunities. Todd Rowley, CEO of StratCap Wireless stated, “We are excited to continue expanding our portfolio of digital infrastructure assets that serve as critical pieces for our broadband carrier partners and other tenants.”
The data center assets are located in the Jacksonville, Cleveland, Denver, and Atlanta metropolitan areas. Three of the properties are fully leased with in-place cash flows while one of the assets is partially leased and was specifically acquired for its value-add enhancement opportunity. Management has stated that the assets are in “NFL cities” with growing demand for data center space and serve as mission critical infrastructure for the existing tenants which include a major financial services firm, a global bank, a national retail colocation provider and a major wireless carrier. “These latest acquisitions provide us with what we believe are long-term, predictable rental revenues from high quality tenants while at the same time creating attractive value-add opportunities for our overall portfolio.”
Bryan Marsh, CEO of StratCap Data Centers
Pat Miller, Managing Partner of StratCap, added, “We think digital infrastructure is one of the most compelling and resilient real estate sectors in the market right now. We continue to expand our footprint in the space, and we believe the sector has a long growth runway ahead.”
StratCap is a privately held, global alternative investment management platform committed to providing access to dynamic asset classes and highly experienced investment professionals in order to provide clients with attractive risk-adjusted returns. The company is focused on a wide range of digital economy investments with an emphasis on digital infrastructure, sustainability, and technology-centric sectors.