We buy towers. A licensed engineer underwrites every one.
Trinity River Assets acquires macro towers across the Southeast and Midwest, from a single site to a 60-site portfolio. Clear criteria, an offer that holds, and a close that does not re-trade.
- PE-underwritten
- Owner-operator, not a fund
- Single sites to 60-site portfolios
Five steps. No surprises.
Screen
A fast go, watch, or pass against our criteria: structure, tenancy, ground-lease tenor, geography.
Engineering review
A licensed PE reviews the structure and loading. We underwrite what the tower can actually carry.
Offer
A clear LOI with terms set to the underwriting. No re-trading, no surprises.
Diligence
Title, ground lease, tenant leases, FCC and FAA records, and environmental review. Handled in-house by licensed operators.
Close
Funds at closing into a single-purpose entity. Ground-lease relationships continue without interruption.
Macro towers are the most durable real estate in wireless. And the most fragmented.
Capital is returning to American macro towers, and concentrating in the rural and exurban markets the national platforms overlooked. Trinity River Assets acquires well-located, under-tenanted sites and operates them with institutional discipline, building a portfolio designed to compound and to transact cleanly.
Permanent hold horizon
Sites are held in single-purpose subsidiaries, one per state, and stewarded for multi-decade holds, not flipped. Structure, not speculation.
On-thesis geography
A Southeast and Midwest focus, inside AT&T's FirstNet rural buildout, exactly where 2026 carrier capital is flowing.
Quality over count
Collocation-ready heights, long ground-lease tenor, and fee-owned land where it matters. We underwrite for the next operator, not the last.
- $23–24B
- AT&T 2026 capex guidance
- $1B
- committed to FirstNet rural
- 20–35×
- TCF (private-market language)
Industry context, 2026. Figures reflect publicly reported carrier guidance and private-market valuation convention; not a representation of Trinity River results.
What we're acquiring.
Trinity River is actively acquiring select macro-tower assets where the network is densifying. Our mandate defines what fits. It is not a list of holdings.
- AssetMacro towers, 150 ft and taller preferred
- TenancyCollocation-ready, with or without an anchor
- LandFee-owned preferred; quality ground leases
- GeographyRural & exurban, Southeast & Midwest
- StructureSingle-purpose subsidiaries, one per state
- PostureSelective, disciplined acquisition pacing
Selling a tower or ground lease?
We move quickly and close cleanly. If your site fits the mandate, we want to talk.
Engineering discipline,
applied to ownership.
Trinity River pairs the rigor of structural engineering with the patience of permanent capital. The result is a portfolio acquirers can underwrite with confidence, and carriers can build on.
Underwritten by engineers
Every site is structurally and operationally underwritten before close by a licensed Professional Engineer, in-house. We buy what the structure can actually carry.
Operated like owners
Diligence, post-close site operations, and ground-lease relationships are handled by licensed general contractors, not outsourced. Carrier-grade, for the long hold.
Paced by capital
Acquisition pacing is matched to capital, and hold-period economics are set before we offer. Disciplined growth, audit-ready from day one.
Plain writing on towers and what they are worth.
What a tower is worth, what a sale means for the ground lease, and how to prepare one for sale. Written for owners, landowners, and the brokers who work with them.
A portfolio built to be underwritten.
Audit-ready financials, a clean single-purpose-LLC ownership structure, and a transaction-ready data room, available upon executed NDA. Built for acquirers, lenders, and capital partners who value disclosure and discipline.