Meritage Group LP and its affiliated funds and TowerPoint Capital have recapitalized their portfolio of mission-critical wireless infrastructure assets into a newly formed, open-ended vehicle, TowerPoint Infrastructure Partners LLC. The transaction closed in December 2024 and was led by Meritage Group.
“We have achieved significant growth and enhanced the operational capabilities of this business over the last six years,” said Jared Halperin, head of real estate at Meritage Group and board member at TowerPoint. “This transaction underscores our commitment to continuing to build the premier wireless infrastructure platform in the United States, and we are pleased to welcome Ullico Infrastructure Fund as a capital partner.”
TowerPoint Infrastructure Partners is a U.S. wireless infrastructure platform that owns and operates one of the largest privately held portfolios of macro cell towers, rooftops and land cell sites across the United States. The venture is supported by a dedicated originations team driving portfolio growth and a senior management team with over 20 years of industry experience.
“This transaction represents a significant achievement for our team and expands our business capabilities with respect to operating and acquiring mission-critical real estate in strategically defensive locations across the United States,” said Jesse Wellner, CEO of TowerPoint Capital. “We remain eager to deliver exceptional value to mobile network operators, property owners, and communities that rely on advanced wireless connectivity. We are grateful for our longstanding and continuing partnership with Meritage Group, and our teams look forward to expanding the platform with Ullico Infrastructure Fund.”
TD Securities served as financial advisor to TowerPoint Infrastructure Partners. Davis Polk & Wardwell LLP and Akin Gump Strauss Hauer & Feld LLP acted as legal counsel to TowerPoint Infrastructure Partners. Weil, Gotshal & Manges LLP acted as legal counsel to TowerPoint Capital.
