| Schedule of asset acquisitions |
The following table summarizes the asset acquisitions for the six months ended June 30, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asset | | | | | | | Number of Properties | | Total Purchase | | Right-of-Use | | Retirement | Property | | Market | | Closing Date | | Acquired | | Price(1) | | Asset(2) | | Obligation(3) | Cell Towers: | | | | | | | | | | | | | | | | Plada Heights | | Tennessee | | January 22, 2025 | | 1 | | $ | 623,495 | | $ | — | | $ | 26,463 | Lemont Lane | | Tennessee | | February 5, 2025 | | 1 | | | 676,379 | | | 93,083 | | | 26,468 | Murfreesboro | | Tennessee | | May 6, 2025 | | 1 | | | 708,595 | | | 90,556 | | | 29,148 | Anchor | | Tennessee | | May 23, 2025 | | 1 | | | 627,811 | | | — | | | 27,808 | Rockvale | | Tennessee | | June 23, 2025 | | 1 | | | 628,838 | | | — | | | 26,468 | Total asset acquisitions for the six months ended June 30, 2025: | | | | | | 5 | | $ | 3,265,118 | | $ | 183,639 | | $ | 136,355 |
The following table summarizes the asset acquisitions for the six months ended June 30, 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asset | | | | | | | Number of Properties | | Total Purchase | | Right-of-Use | | Retirement | Property | | Market | | Closing Date | | Acquired | | Price(1) | | Asset(2) | | Obligation(3) | Cell Towers: | | | | | | | | | | | | | | | | Whip Communications | | Iowa | | January 10, 2024 | | 2 | | $ | 1,966,205 | | $ | 156,489 | | $ | 62,375 | East River | | Ohio | | January 24, 2024 | | 1 | | | 677,954 | | | — | | | 35,049 | BTO | | Maryland | | February 29, 2024 | | 1 | | | 1,542,835 | | | 66,980 | | | 45,869 | Trinity Park | | Tennessee | | January 17, 2024 | | 1 | | | 537,500 | | | 86,942 | | | 29,218 | West Maryville | | Tennessee | | January 31, 2024 | | 1 | | | 473,894 | | | 115,123 | | | 27,870 | Oakbrook | | South Carolina | | January 31, 2024 | | 1 | | | 538,962 | | | 127,316 | | | 27,870 | Dream Central | | Tennessee | | February 16, 2024 | | 1 | | | 540,398 | | | 116,742 | | | 29,225 | Norton | | Tennessee | | April 2, 2024 | | 1 | | | 955,897 | | | 48,069 | | | 27,884 | North Sequatchie | | Tennessee | | April 30, 2024 | | 1 | | | 594,588 | | | 86,610 | | | 27,898 | Bluhmtown | | Tennessee | | May 31, 2024 | | 1 | | | 652,212 | | | — | | | 26,546 | Total asset acquisitions for the six months ended June 30, 2024: | | | | | | 11 | | $ | 8,480,445 | | $ | 804,271 | | $ | 339,804 |
| (1) | Includes capitalized acquisition-related costs. |
| (2) | Right-of-use assets were obtained in exchange for the assumption of operating lease liabilities of the same values as part of the asset acquisitions. |
| (3) | Asset retirement obligations were assessed as part of the asset acquisitions. |
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| Schedule of assets acquired and liabilities assumed |
| | | | | | | | | | June 30, 2025 | | June 30, 2024 | | Assets: | | | | | | | | Cell towers | | $ | 1,996,869 | | $ | 4,308,820 | | Land | | | 89,536 | | | — | | Building | | | — | | | — | | Site Improvements | | | — | | | — | | Contract rights and tenant relationships | | | 412,210 | | | 2,327,679 | | Network location & capacity | | | 705,426 | | | 1,932,109 | | Rooftop easements and ground easements | | | 197,433 | | | 251,641 | | Above market leases | | | — | | | — | | Right-of-use assets obtained in exchange for operating lease liabilities | | | 183,639 | | | 804,271 | | Total assets acquired | | | 3,585,113 | | | 9,624,520 | | Liabilities: | | | | | | | | Asset Retirement Obligation | | | 136,356 | | | 339,804 | | Ground lease liability | | | 183,639 | | | 804,271 | | Below market leases | | | — | | | — | | Total liabilities assumed | | | 319,995 | | | 1,144,075 | | Total Purchase Price | | $ | 3,265,118 | | $ | 8,480,445 | |
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