Wireless Tower Owner Crown Castle Plans REIT Conversion

Law360, New York (September 9, 2013, 6:49 PM EDT) -- Texas wireless tower and infrastructure company Crown Castle International Corp. has begun the process of qualifying as a real estate investment trust by the beginning of 2014, Crown Castle announced Monday.

The firm said it expects to begin operating as a REIT on Jan. 1, 2014, as it shifts structure in hopes of cutting capital costs and adding long-term value.

"We believe REIT status is the optimal structure for our business given the real estate nature of our assets," Crown Castle president and CEO Ben Moreland...
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