Gary Jabara

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Towers everywhere, but who owns them and how? We take a look into the world of the REIT. It's not just the network and phone manufacturers who are making it big with wireless. All of those transmitter towers have to go somewhere, and a whole raft of companies specializing in locations to put those towers have sprung up. This is a completely new business, with no precedents or business models to go with it, or is it? When is a cellular tower company not a cellular tower company? When it's a REIT. The typical REIT (Real Estate Investment Trust) is a real estate company that develops, acquires, owns, manages, and sells income-generating properties like apartment buildings, office buildings, and shopping centers. By law, a REIT, which does not pay taxes at a corporate level, must distribute 90% of its taxable income to its shareholders every year. Cellular tower compan... (more)