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Home arrow Home arrow CTI Towers Completes Hampton Roads Radio Stick Deal
CTI Towers Completes Hampton Roads Radio Stick Deal
CTI Towers Completes Hampton Roads Radio Stick Deal

Towers

The acquisition of three broadcast towers in Norfolk from Com-Ent LLC has closed.

This puts the structures in the hands of an entity that owns or operates more than 1,000 structures across the U.S.

CTI Towers, headed by Tony Peduto, is the buyer, and it will now own tower structures used in the Hampton Roads region of Virginia by Max Media, Hindlin Broadcasting, and Sinclair Communications (not to be confused with Sinclair Broadcast Group).

Michael J. Bergner of Bergner & Co. served as the broker in this transaction. He notes that the towers are "income producing," and such structures remain in high demand. "I fully expect values to go even higher as 5G services come online," he notes.