Equity International Closes First Investment in Telecom Infrastructure

–Partners in Digital Bridge to Meet Mobile Demand Growth in
Andean Region–

CHICAGO–(BUSINESS WIRE)–Equity International (“EI”), the emerging markets-focused investment
firm founded by Sam Zell, announced today that it has closed on its
first investment in telecommunication infrastructure. EI invested $50
million in Digital Bridge’s Andean Tower Partners (ATP), alongside other
institutional investors including The Olayan Group and TC Latin America
Partners. In aggregate the partnership’s capital raise totaled $150
million. ATP owns and operates passive telecom infrastructure solutions
through towers, rooftops, small cells, and DAS (distributed antenna
systems) that enable mobile connectivity in the Andean region. Proceeds
will be used to support ATP’s growth in developing mobile and internet
infrastructure deployment primarily in Colombia and Peru.

Sam Zell, founder and chairman of EI commented, “In the telecom sector,
the emerging markets look a lot like the U.S. did 15 years ago. Demand
for mobile and internet service has overwhelmed supply. We see this as a
terrific opportunity to apply our ability to institutionalize companies
to an asset class that expands the traditional definition of real
estate. We’re pleased to be doing it with a leading player in the space
and exceptionally strong partners.”

“We have been targeting the telecommunications infrastructure sector in
the region for some time due to highly undersupplied demand for
broadband services,” said Tom Heneghan, EI’s CEO. “We found the optimal
partner and opportunity with Digital Bridge. The company’s strong
sponsorship aligns our mutual interests, and its attractive pipeline
provides us with the ability to quickly scale the business. We look
forward to supporting our new partner in this endeavor.”

ATP was founded by the leadership team at Digital Bridge, a leading
owner and operator of mobile and internet infrastructure globally with
an extensive two-decade proven track record in the sector in the United
States, Mexico, Colombia and Peru. Digital Bridge previously founded and
capitalized Mexico Tower Partners in 2013 and Vertical Bridge in 2014.
In February 2017, the company closed on an $80 million investment
agreement with ISA.

“We are extremely delighted with the success of ATP’s first
institutional capital raise, which is anchored by experienced and very
knowledgeable investors in the sector. With partners such as Equity
International, The Olayan Group, and TC Latin America Partners, ATP will
continue its expansion and strategic goal to become the leading telecom
infrastructure provider in the Andean region,” said Marc C. Ganzi, ATP’s
Chairman.

Gregorio Schneider, Managing Partner and Chief Investment Officer at TC
Latin America Partners, explains, “As the penetration of smartphones
increases in the Andean region, investment in cellular towers is key to
meeting growing data consumption needs. As part of our real estate
investment strategy, we are excited to partner with Digital Bridge in
this opportunity, and believe in ATP’s growth plans to fill this gap in
the region.”

About Andean Tower Partners

ATP is a privately-owned provider of wireless communications
infrastructure in the Andean region.
The company owns, operates
and manages telecommunications towers, rooftops, small cells and DAS
(distributed antenna systems) solutions for mobile operators. ATP was
founded by Digital Bridge and has operations in Colombia and Peru.

About Digital Bridge

Founded in 2013 by Marc C. Ganzi and Ben Jenkins, Digital Bridge is
focused on the ownership, investment, and active management of companies
in the communications infrastructure sector. Since inception, Digital
Bridge has raised over $5.2B USD of debt and equity capital used to
acquire and invest in the development of communications infrastructure
businesses, including DataBank, ExteNet Systems, Vertical Bridge, Andean
Tower Partners, and Mexico Tower Partners.

About Equity International

Equity International (EI), founded by Sam Zell in 1999, invests in
high quality operating platforms in the emerging markets. EI’s
investment and value go beyond its capital by providing its portfolio
companies with: institutional credibility, exceptional corporate
governance, best practices, a unique operating perspective, and access
to a powerful global network. EI employs an active ownership approach,
partnering with portfolio company leadership to achieve strategic growth
and industry leadership. As a result, EI is recognized as a partner of
choice around the world. Web:
http://www.equityinternational.com

About TC Latin America Partners

Founded in 2012, TC Latin America Partners is an SEC registered
alternative asset management firm headquartered in New York with offices
in Bogota, Lima and Mexico City. The firm manages real estate funds
investing with an opportunistic approach in residential, commercial and
industrial projects. Web:
http://www.tclatam.com

Contacts

Equity International
Terry Holt
+1 (312) 466-3979
tholt@egii.com