InSite Wireless Group News

InSite Wireless Group, LLC Closes Sale of $177.5 Million in Secured Notes

noreply@blogger.com (InSite Wireless Group) — Tue, 27 Aug 2013 16:11:00 +0000

InSite Wireless Group, LLC ("InSite"), owner, operator and manager of wireless communication tower site facilities and distributed antenna systems (DAS) across the United States, Puerto Rico, the U.S. Virgin Islands and Canada, today announced that it successfully completed the sale of $177.5 million InSite Wireless Group, LLC Secured Cellular Site 2013-1 Rev Notes on August 26, 2013. The notes are backed by mortgages representing approximately 72.7% of the annualized run rate (ARR) net cash flow (NCF) and guaranteed by the direct parent of the borrowers. The guarantees are secured by a pledge and first-priority-perfected security interest in 100% of the equity interest of the borrowers (which own or lease 512 cellular sites and own the rights to operate 16 DAS networks) and the direct parent, respectively.This securitization transaction will help finance the growth of InSite’s tower and DAS portfolio.

“We are excited to announce the completion of this securitization during 2013, and are very pleased with both the pricing and execution of this transaction,” said David E. Weisman, President and CEO of InSite. “It demonstrates the continued quality and strength of InSite’s wireless infrastructure business and assets, and we look forward to the opportunities for continued growth this funding will provide.”

For the full press release on Business Wire:

http://www.businesswire.com/news/home/20130826006023/en

InSite Wireless Group, LLC Goes International with the Acquisition of Majority Interest in Canadian Company Turris Sites Inc.

noreply@blogger.com (InSite Wireless Group) — Mon, 17 Dec 2012 21:55:00 +0000

With its investment in Turris Sites, InSite Wireless Group adds more than 45 Canadian sites to its existing wireless communications tower portfolio—expanding the company’s reach beyond the United States and its territories.

InSite Wireless Group, LLC ("InSite"), owner, operator and manager of wireless communication tower site facilities and distributed antenna systems (DAS) across the United States, Puerto Rico, and the U.S. Virgin Islands, today announced its investment in Turris Sites Inc. (“Turris”), a leading owner, operator and manager of wireless communication tower site facilities in Canada. Pursuant to the purchase agreement, InSite acquired a 54% equity interest in Turris. Turris will continue to be led by its existing management team headed by President John Wahba and COO Rick Sullivan.

David E. Weisman, President and CEO of InSite, describes the new partnership as groundbreaking. “The Canadian tower market represents a significant growth opportunity for us. We’re delighted to be partnering with an experienced management team with a keen understanding of the local marketplace.”

For the full press release:
http://www.prweb.com/releases/2012/12/prweb10241489.htm

Cox Enterprises to Invest in InSite Wireless Group, LLC; Partnership to Focus on Continued Growth

noreply@blogger.com (InSite Wireless Group) — Thu, 19 Apr 2012 16:13:00 +0000

Cox Enterprises, Inc. (CEI) and its subsidiary Cox Communications (CCI) today announced an investment in InSite Wireless Group, LLC (“InSite”). Under terms of the agreement, CCI will contribute approximately 150 of its existing wireless towers while CEI will make an additional cash investment in InSite.

“InSite, its investors, and its employees are enthusiastic about this new relationship with Cox,” said David E. Weisman, president and CEO of InSite. “We view this as a unique opportunity not only to add to our current tower portfolio, but also to continue the strong growth of both our tower and DAS divisions as we benefit from Cox’s equity investment, as well as their knowledge and expertise in the communications sector.”

The transaction is scheduled to close May 31, 2012. Wells Fargo served as financial advisor to Cox and Dow Lohnes PLLC provided legal counsel. InSite was represented by Kirkland & Ellis LLP and Sullivan & Worcester LLP, with advisory assistance from InSite investor Catalyst Investors.

For the full version of Cox’s press release: http://www.prnewswire.com/news-releases/cox-enterprises-to-invest-in-insite-wireless-group-llc-148108985.html

T-Mobile Expands Service on MBTA to the Blue and Green Lines

noreply@blogger.com (InSite Wireless Group) — Tue, 27 Mar 2012 21:08:00 +0000

In partnership with the Massachusetts Bay Transportation Authority (MBTA) and InSite Wireless, LLC, today T-Mobile USA announced the official launch of new T-Mobile wireless service on the Blue and Green lines of The T in Boston. With the expansion, T-Mobile has nearly doubled its underground service to 13 miles of coverage and 26 underground stops.

T-Mobile first brought service to The T in 2007 and will continue to partner with InSite Wireless and MBTA to expand service to the remaining subway lines.

“We are excited to continue to partner with the MBTA and T-Mobile to expand wireless coverage in the subway for Boston commuters,” said David E. Weisman, president and CEO, InSite Wireless. “By working with the MBTA and T-Mobile, we are able to continue to make Boston a technological hub and provide state-of-the-art connectivity to residents and visitors alike.”

For the full version of T-Mobile's press release:
http://www.businesswire.com/news/home/20120326006637/en

For a link to the Boston Herald article on T-Mobile's expanded service on MBTA:
http://www.bostonherald.com/jobfind/news/technology/view.bg?articleid=1061120275&srvc=rss

InSite Wireless, LLC Acquires Distributed Antenna System (“DAS”) Sites from Dianet Communications, Inc.

noreply@blogger.com (InSite Wireless Group) — Wed, 20 Jul 2011 17:35:00 +0000

InSite Wireless, LLC, owner, operator, and manager of distributed antenna systems in public and private venues across the United States, today announced that it has closed on the initial purchase of DAS facilities and related assets from Dianet Communications, Inc. Under the terms of its Definitive Purchase Agreement, InSite has acquired the wireless system infrastructure and all customer license agreements pertaining to the DAS operations at 30 Rockefeller Center in New York City and at the Atlantic City Convention Center in Atlantic City, NJ.

“This acquisition creates significant strategic value for InSite Wireless and expands our DAS presence in the Northeast into the New York/New Jersey area,” stated David E. Weisman, InSite’s President and CEO. “We are pleased to add these attractive and well-known venues to our DAS portfolio.”

For the full press release: http://www.prweb.com/releases/2011/7/prweb8651192.htm

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InSite Towers, LLC Acquires 40 Tower Sites from Sierra Nevada Property Management

noreply@blogger.com (InSite Wireless Group) — Mon, 07 Jun 2010 18:32:00 +0000

InSite Towers, LLC (“InSite Towers”), owner, operator, and manager of wireless communication tower site facilities throughout the United States and Puerto Rico, today announced that, on behalf of itself and Vangard Wireless, LLC, its wholly-owned subsidiary, it has closed on the purchase of 40 tower sites from Sierra Nevada Property Management, LLC. The new assets include cell towers, related tower site equipment and infrastructure, related real property interests, and all customer collocation agreements pertaining to the tower assets.

“This acquisition creates significant strategic value for InSite Towers, as well as enhances the value of our already existing western region tower assets,” stated David E. Weisman, InSite’s President and CEO. “We are excited about adding these attractive assets to our existing portfolio.”

The transaction was the result of exclusive negotiations between InSite Towers and Sierra Nevada Property Management. The law firm of Sutin, Thayer & Browne P.C. represented Sierra Nevada Property Management; InSite Towers was represented by its General Counsel, Roni D. Jackson, together with the law firm of Locke Lord Bissell & Liddell LLP.

With the completion of this acquisition, InSite Towers now owns and operates nearly 400 communication towers. More information on InSite’s business can be found at http://www.insitewireless.com/.

About InSite Towers, LLC
Founded in October of 2006, InSite Towers, LLC is a privately owned wireless communication tower company headquartered in Alexandria, VA. InSite Towers owns and operates approximately 400 wireless communication tower sites in the United States and Puerto Rico. InSite’s parent company, InSite Wireless Group, LLC, also owns InSite Wireless, LLC, which specializes in the design, installation, operation, and maintenance of distributed antenna system (DAS) infrastructure solutions in convention centers, hotels and casinos, airports, sports stadiums, and transit systems.

InSite Wireless, LLC installation expands cell phone coverage on Boston’s MBTA subway system

noreply@blogger.com (InSite Wireless Group) — Fri, 26 Mar 2010 19:54:00 +0000

InSite Wireless, LLC has completed Phase II of construction on the distributed antenna system (DAS) in Boston’s MBTA subway system and expanded service on the MBTA Orange Line from the tunnel entrance south of Community College to Massachusetts Avenue. The InSite DAS provides continuous service in stations and trains, allowing riders whose service providers connect to the antenna system to text, make phone calls, check e-mail, and surf the web while on the subway.

For the complete press release, click here [PDF].

For more detailed information on the project, see our InSite Wireless DAS Case Study: Boston Subway (MBTA) [PDF].

InSite Wireless Group Receives Funding from Catalyst Investors

noreply@blogger.com (InSite Wireless Group) — Thu, 25 Feb 2010 22:39:00 +0000

InSite has received funding from Catalyst Investors, a New York-based growth private equity firm. We plan to use the capital to expand the company through acquisitions and construction of new towers and DAS projects. Catalyst partners Chris Shipman and Todd Clapp will join inSite's board. Click here for the complete press release.