05/22/2025
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As published in PREA Quarterly, Spring 2025
In the past, when real estate professionals talked about towers, they typically referred to high-rise office or apartment buildings. With the growing digital economy, a newer tower came on the scene, the telecommunications (cell) tower.
As the use of wireless networks has continued to expand, network operators have provided connectivity through a series of installations on cell towers and other structures. Although these towers have obvious characteristics of real estate, they have not always been readily accepted by investors as such.
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