APWireless has invested in its 4,000th cell site lease, the University City company announced in early December.

APWireless operates in the cell tower space, though its business model differs from many of its peers. Rather than purchasing physical wireless infrastructure, such as cell towers, APWireless invests in cash rents paid by tower companies and carriers to landlords. Landlords receive a large, up-front cash payout in return for an assignment of their site lease.

In addition to investing in ground and rooftop cell site leases worldwide, APWireless provides a range of services to landlords, tower companies and wireless carriers.

The company was founded in 2010 and does business in the United States, Canada, Mexico, South America, Europe, Asia and Australia. Eric Overman is chief executive.