CINCINNATI, OH, May 15 2014 - Arcadia Towers II, LLC, a rapidly growing communication tower ownership company, announced today that it closed on a $5 million debt facility with Texas Exchange Bank in the first quarter of 2014. This announcement follows the previously announced $5 million equity commitment to Arcadia Towers II from Kern Whelan Capital. The proceeds of this transaction will support Arcadia’s growth through development of tower sites throughout its service area.
Arcadia Towers II, LLC is a privately held company focused on the ownership of wireless communications assets in select markets throughout the U.S. The company has five sites currently under development. Arcadia’s customers include national and regional wireless carriers, public safety entities, and utilities.
“We are excited to engage Texas Exchange Bank as our banking partner,” said Greg Leszczuk, COO at Arcadia. “We believe the values of the Texas Exchange Bank team align well with Arcadia and this debt financing will allow us to focus on delivering superior customer service and speed to market that is best in class”.
“Texas Exchange Bank is focused on providing successful solutions to the tower industry,” said Tom Patterson, CFO at Arcadia. “This debt facility will provide Arcadia Towers II with the capital and flexibility necessary to best serve our customers in an environment of increasing industry demand”.
Arcadia Towers II, LLC owns wireless communication assets and is part of the Arcadia family of companies. Arcadia Towers II, LLC was founded in 2014 by the company’s management. Arcadia Communications, established in 2005, provides full-service development, management, and leasing for Acadia Towers II assets. Arcadia’s service area is Ohio, Kentucky, Indiana, and adjacent states. For more information visit www.ArcadiaTowers.com
Bank is a privately held, well-capitalized bank with offices in Ft. Worth, Houston and Crowley Texas. Along with tower financing solutions, Texas Exchange Bank offers a variety of commercial banking products and is actively seeking loan and deposit opportunities across a broad array of industries. For more information about Texas Exchange Bank visit www.txexbank.com or contact Beau Chron at BChron@txexbank.com O: 682-224-8751 M: 817-675-3436 For more information regarding this release, contact: Greg Leszczuk, COO, Greg@ArcadiaTowers.com O: 513-271-5999 M: 513-377-0705