CINCINNATI, OH, May 9, 2014 – Arcadia Towers II, LLC, a rapidly growing communication tower ownership company, announced today that it closed on a $5 million equity investment with Kern Whelan Capital, LLC in the first quarter of 2014. The proceeds of this transaction will support Arcadia’s growth through development of tower sites throughout its service area. Kern Whelan Capital previously invested in Arcadia Towers, LLC.
Arcadia Towers II, LLC is a privately held company focused on the ownership of wireless communications assets in select markets throughout the U.S. The company has five sites currently under development. Arcadia’s customers include national and regional wireless carriers, public safety entities, and utilities.
“Kern Whelan Capital has proven to be an ideal equity partner” said Tom Patterson, CFO at Arcadia. “This equity will provide Arcadia Towers II with the capital needed to work with our customers and to grow our tower site portfolio in an environment of increasing industry demand”.
“We are pleased to again have the support of Kern Whelan Capital” said Sam Johnston, President at Arcadia. “A proven track record, a dedicated site development team, and a commitment to our customers have made Arcadia Towers II an attractive investment. We expect to build on the momentum we have created over the past decade, and continue to develop tower sites that provide strategic solutions for our customers’ needs”.