| ASSET ACQUISITIONS |
The following table summarizes the asset acquisitions for the year ended December 31, 2025, which became part of the disposed group of assets in the Tower Sale and are included in the discontinued operations. Refer to Note 6, “Discontinued Operations,” for related disclosures. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Asset | | | | | | | | Number of Properties | | Total Purchase | | Right-of-Use | | Retirement | Property | | Market | | Closing Date | | Acquired | | Price(a) | | Asset(b) | | Obligation(c) | Cell Towers: | | | | | | | | | | | | | | | | | Plada Heights | | Tennessee | | | January 22, 2025 | | 1 | | $ | 623,495 | | $ | — | | $ | 26,468 | Lemont Lane | | Tennessee | | | February 5, 2025 | | 1 | | | 676,379 | | | 93,083 | | | 26,460 | Murfreesboro | | Tennessee | | | May 6, 2025 | | 1 | | | 678,595 | | | 90,556 | | | 29,113 | Anchor | | Tennessee | | | May 23, 2025 | | 1 | | | 627,811 | | | — | | | 27,777 | Rockvale | | Tennessee | | | June 23, 2025 | | 1 | | | 628,838 | | | — | | | 26,453 | Swindell Mill | | Tennessee | | | July 9, 2025 | | 1 | | | 617,550 | | | 60,314 | | | 30,473 | Ringgold | | Georgia | | | September 29, 2025 | | 1 | | | 652,622 | | | 104,314 | | | 26,464 | Edgefield | | South Carolina | | | October 31, 2025 | | 1 | | | 786,935 | | | — | | | 26,468 | Hickory Chair | | North Carolina | | | October 31, 2025 | | 1 | | | 571,113 | | | — | | | 27,809 | Total | | | | | | | 9 | | $ | 5,863,338 | | $ | 348,267 | | $ | 247,485 |
The following table summarizes the asset acquisitions, which became part of the disposal group of assets in the Tower Sale and are included in the discontinued operations, for the year ended December 31, 2024: | | | | | | | | | | | | | | | | | | | | | | | | Number of | | Total | | | | | Asset | | | | | | | | Properties | | Purchase | | Right-of-Use | | Retirement | Property | | Market | | Closing Date | | Acquired | | Price(a) | | Asset(b) | | Obligation(c) | 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 | | | 114,329 | | | 45,869 | Trinity Park | | Tennessee | | | January 17, 2024 | | 1 | | | 537,500 | | | 86,942 | | | 29,218 | West Maryville | | Tennessee | | | January 31, 2024 | | 1 | | | 473,894 | | | 115,861 | | | 27,870 | Oakbrook | | South Carolina | | | January 31, 2024 | | 1 | | | 538,962 | | | 127,737 | | | 27,870 | Dream Central | | Tennessee | | | February 16, 2024 | | 1 | | | 540,398 | | | 117,318 | | | 29,225 | Norton | | Tennessee | | | April 2, 2024 | | 1 | | | 955,897 | | | 116,292 | | | 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 | CellTex | | Texas | | | July 12, 2024 | | 3 | | | 7,195,440 | | | — | | | 122,737 | Adirondack | | New York | | | July 31, 2024 | | 1 | | | 687,651 | | | — | | | 31,964 | Lebanon | | North Carolina | | | August 19, 2024 | | 1 | | | 633,797 | | | 116,130 | | | 27,865 | Dry Branch | | Tennessee | | | August 23, 2024 | | 1 | | | 638,541 | | | — | | | 26,521 | Meadow Creek | | Tennessee | | | August 23, 2024 | | 1 | | | 513,710 | | | 79,215 | | | 27,863 | Sandy Springs | | Tennessee | | | October 13, 2024 | | 1 | | | 596,289 | | | 115,448 | | | 27,789 | Longview | | Tennessee | | | November 27, 2024 | | 1 | | | 649,479 | | | 116,354 | | | 27,796 | Cherokee Orchards | | Tennessee | | | December 18, 2024 | | 1 | | | 806,331 | | | 116,577 | | | 27,803 | Total | | | | | | | 21 | | $ | 20,201,683 | | $ | 1,465,302 | | $ | 660,142 |
| (a) | Includes capitalized acquisition-related costs of $741,288 and $774,889 for the years ended December 31, 2025 and 2024, respectively. |
| (b) | 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. |
| (c) | Asset retirement obligations were assessed as part of the asset acquisitions. |
The related assets, liabilities, and results of operations of the acquired properties were originally included in the consolidated financial statements from the date of acquisition. Following the Tower Sale, these accounts were included in the discontinued operations. The following table summarizes the estimated relative fair value purchase price allocations of the assets acquired and liabilities assumed at the acquisition dates for the years ended December 31, 2025 and 2024, respectively: | | | | | | | | | December 31, 2025 | | December 31, 2024 | Assets: | | | | | | | Cell towers | | $ | 3,667,240 | | $ | 8,493,925 | Land | | | 89,536 | | | — | In-place lease tenant relationships | | | 700,239 | | | 7,897,082 | Network location and capacity | | | 1,230,987 | | | 3,568,434 | Rooftop easements and ground easements | | | 422,821 | | | 902,384 | Right-of-use assets obtained in exchange for operating lease liabilities | | | 348,267 | | | 1,465,302 | Total assets acquired | | | 6,459,090 | | | 22,327,127 | Liabilities: | | | | | | | Asset retirement obligation | | | 247,485 | | | 660,142 | Ground lease liabilities | | | 348,267 | | | 1,465,302 | Total liabilities assumed | | | 595,752 | | | 2,125,444 | Total Purchase Price | | $ | 5,863,338 | | $ | 20,201,683 | | | | | | | |
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