Everest Infrastructure Partners has acquired 70 telecom towers from Tower Ventures.

Financial terms of the deal have not been disclosed.

According to Everest, the tower sites are located in 24 states in the south and west regions of the US.

Memphis-based Tower Ventures states on its website that it owns more than 400 towers across the US. The company has previously sold 202 towers to Phoenix Tower International.

Everest notes that the tower portfolio is comprised of 83 percent broadband tenancy and is "well-positioned for substantial future leasing growth to support 5G wireless network expansion."

“We are pleased to transact with the Tower Ventures management team and look forward to delivering strong future growth on these high-quality tower assets,” said Mike Mackey, president of Everest Infrastructure Partners. 

“The towers acquired from Tower Ventures are strong complements to the existing Everest portfolio of nearly 2,000 US tower assets.  A large portion of the towers are newly developed towers located in areas that have high expectations for future leasing growth.”

Founded in 2015, Everest operates more than 2,500 communications tower sites in the US, Australia, New Zealand, and Portugal.

The company, through its Everest Infrastructure ANZ subsidiary, completed the acquisition of tower assets from Australian telco Vertel last month.

Everest acquired Portuguese tower company Blue Sites Telco last year. It represented the fourth international market that Everest has invested in after the US, where it's based, along with Australia and New Zealand.

The company acquired 75 towers from CNS Microwave last year.