Macquarie Infrastructure Partners is looking to sell Global Tower Partners to one of the publicly traded tower companies, according to a story in the Wall Street Journal.
GTP, the fourth largest cell tower company in the nation, owns, manages or master leases more than 16,000 wireless sites throughout the United States, Mexico and Costa Rica.
GTP was founded in 2002 by Marc Ganzi, who also founded and was president of Apex Site Management, a company that leased rooftop space. In 2005, Blackstone Group purchased GTP for $225 million. Australian investment bank Macquarie purchased the tower company, which had 2,500 towers and 6,000 roof tops, in 2007 for $1.425 billion and structured it as a REIT. GTP is now rumored to be worth between $3.5 billion to $4 billion.