The unprecedented demand for mobile data and services has led to a boom in leased communications real estate. Carriers are making capital investments and densifying their networks to meet the data onslaught, which has led to rising fortunes for tower companies that lease space on multi-tenant sites. Apart from organic leasing growth, the towercos are also generating revenue growth through M&A activity as they look to build their portfolios in well-located markets. This Issue in Focus presents news, research and analysis focusing on the financial and operational developments of tower companies as well as examining how the industry is expected to evolve.