US-based towers group SBA Communications has confirmed that it will sell its towers in Colombia.

The company made a note of the agreement in its earnings report this week, stating it agreed the sale on February 20, 2025.

Further details, such as financial terms and the name of the buyer, were not disclosed by SBA.

SBA did state that it expects the deal to be completed by the end of the first quarter of this year. The company completed the sale of its Philippines tower assets last month.

The company said its reasoning for departing the market is part of its effort to leave "subscale markets" and instead focus on growing and operating other key markets.

SBA's presence in Colombia isn't as vast as some of its other markets, as it only has around 200 towers in the country. In Brazil, the company operates more than 12,000 towers.

In October, SBA Communications agreed to acquire 7,000 telecom towers from Millicom International Cellular for $975 million. That particular sale-leaseback deal covers towers in Guatemala, Honduras, Panama, El Salvador, and Nicaragua.

Continued US investment

The company reported a 10.2 percent increase in site revenue for Q4 to $646 million, while net income grew by 69.3 percent to $178.8m.

“We had a solid finish to 2024, producing favorable results both financially and operationally,” said Brendan Cavanagh, president and chief executive officer. “Carrier activity levels in the US continued to grow and we finished 2024 with our highest backlogs of the year for both leasing and services, setting us up well for continued momentum in 2025.

"Our US customers continue to invest in their networks, deploying mid-band spectrum in support of Fixed Wireless Access and 5G coverage expansion, as well as investment in general network densification and expanded rural coverage."

SBA noted that it acquired seven communication sites during Q4 for a total cash consideration of $1.3 million.

During the final quarter of last year, SBA said it built 159 towers.

As of the end of last year, SBA owned or operated more than 39,749 communication sites, 17,464 of which are located in the US and its territories and 22,285 of which are located internationally.

SBA noted that it also spent $14.3 million to purchase land and easements and to extend lease terms in the final quarter.