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SBA Tower Portfolio Grows by 6.5%

BOCA RATON, FL-The locally based developer and operator of wireless communications towers builds 133 new towers, and acquires 77 more at an aggregate cost of $23.8 million during the third quarter ended Sept. 30.

By David R. Corder | Updated on October 15, 2001

BOCA RATON, FL-SBA Communications Corp. is reporting a 6.5% increase in the number of owned wireless communications towers as of the third quarter ended Sept. 30.

Besides constructing 133 new sites, the Boca Raton-based developer acquired 77 sites during the reporting period at a total of cost of $23.8 million, or about $309,000 each.

The company estimates it added gross site leasing revenues at an annual rate of .44 new tenants per tower on a broadband equivalent basis, based on the 3,254 towers the company owned as of Sept. 30. It estimates that same-tower revenue from tenant leases executed on 1,950 towers owned as of Sept. 30, 2000, increased by 26%.

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