Lendlease, A Global Developer, Acquires Parallel Infrastructure And Its Tower Portfolio

Lendlease, one of the world’s largest development, property, infrastructure, and construction firms, has announce that it has acquired the Parallel Infrastructure portfolio of telecommunications towers and development positions across the United States, from Florida East Coast Industries. Going forward Lendlease will utilize its integrated business model to further create development opportunities focused on telecommunication infrastructure across the region.

Denis Hickey, CEO, Lendlease Americas said in a statement, “Lendlease has been active in telecommunications globally for the past 20 years. By adding Parallel Infrastructure to Lendlease’s telecommunications pipeline, we are now positioned to further expand into this key market in the United States.”

In the acquisition of Parallel Infrastructure, Lendlease has approximately 450 towers built and currently under development and a vast pipeline of tower development opportunities across the country with the major mobile telecommunication providers as tenants.

Yannis Macheras, who leads Lendlease Tower Development as Senior Vice President, said, “Parallel’s portfolio combined with Lendlease’s access to resources and capital will accelerate our growth in the telecom infrastructure sector. Our best in class team has a partnership philosophy and proven track record in delivering towers with flexibility, reliability and speed.”