Peppertree Capital Management has increased its funding commitment to Blue Sky Towers from $80 million to $120 million. Blue Sky was formed in 2014 to acquire, develop, and manage wireless infrastructure throughout the United States, with an initial funding commitment of $80 million. Due to Blue Sky’s success in executing on its business plan over the last two years, Peppertree has committed to increasing Blue Sky’s funding.
“During the past two years, Blue Sky’s management has done a terrific job of prudently, strategically, scaling Blue Sky’s business of acquiring existing wireless assets and developing new tower and rooftop assets. We are very pleased with Blue Sky’s performance to date and are excited about expanding our financial commitment,” said Ryan Lepene, Peppertree’s managing partner.
Blue Sky has created a scalable platform for both mergers and acquisitions and development that has resulted in the ownership of wireless infrastructure assets throughout the country – from Hawaii to Maine. Additionally, the company has an “under contract” pipeline of acquisition and development opportunities that ensures continued growth over the next several quarters and beyond. To date, Blue Sky has more than 2,900 qualified properties throughout the United States under an exclusive development agreement providing a runway for growth in the long term.
“From Blue Sky’s inception, it has always been our philosophy that we need to work very hard in establishing Blue Sky as a ’Carrier Friendly’ developer. This approach has resonated with the carriers and has helped in our execution of both tower build to suit and rooftop to suit programs,” said Jim Rech, president of Blue Sky.