In September 2020, Fengate closed an equity investment and future commitment to a portfolio of built-to-suit multi-tenant wireless communications towers managed by TowerCom, LLC, a leading communications tower developer and owner focused on some of the fastest-growing wireless markets in the United States. In August 2021, Fengate and TowerCom achieved financial close on the acquisition a diversified portfolio of 42 high-quality wireless communications towers located in seven states from Municipal Communications II, LLC.