Uniti Group Inc. Completes Sale-Leaseback and Fiber Acquisition with U.S. TelePacific Holdings Corp.
LITTLE ROCK, Ark., Sept. 19, 2018 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today the closing of the second tranche of its previously announced sale-leaseback and fiber acquisition with U.S. TelePacific Holdings Corp. (“TPx”). At closing, the Company acquired 32,000 fiber strand miles located in California, which will be leased back to TPx on a triple net basis. The Company previously closed the first tranche of the non-California assets on May 1, 2018. Total consideration for the second tranche was $70 million.
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of June 30, 2018, Uniti owns 5.4 million fiber strand miles, approximately 770 wireless towers, and other communications real estate throughout the United States and Latin America. Additional information about Uniti can be found on its website at www.uniti.com.
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