What Does $80 Million Get You?Comments Off on What Does $80 Million Get You?
When you see the headline “Peppertree Capital Commits $80 Million in Equity and Debt Financing to Blue Sky Towers,” you may wonder why they are spending so much money on towers. “We’re at a very unique time in the industry,” said CEO Tom Remillard, formerly principal of Norfolk-based Wireless Realty Advisors, which is being merged into the new company. “When they initially designed cell networks, they thought people were going to talk on phones.” (Source: Boston Business Journal) Now these cell phones are used more for messaging, downloading data, surfing the web, or playing with apps. This is why towers have become such an important part of our wireless infrastructure needs. Remillard said the company will focus on beefing up cell and data coverage in the “top 20 cities,” first building in cities in the Northeast corridor over the next five years. He said his goal will be to build 700 to 800 cell towers and smaller “micro cells,” essentially smaller devices that are attached to the roof of a building or the side of a building. He said he was also hire 20 to 30 employees by 2017. (Source: Boston Business Journal)