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CTI Towers Closes On Tower Assets In Norfolk VA


Bergner & Co.
Bergner & Co.

CTI Towers has closed on its purchase of three towers in Norfolk, VA, from Com-Ent LLC. The radio station tenants on the towers in Norfolk include Max Media, Hindlin Broadcasting and Sinclair Communications, among others. CTI Towers either owns or operates over 1000 towers in the U.S. and is headed by Tony Peduto.

Michael J. Bergner of Bergner & Co. brokered the transaction and commented that "income producing towers remain in very high demand with multiples that far exceed radio station values. I fully expect values to go even higher as 5G services come online."

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