Vertical Bridge REIT, LLC completed the acquisition of Exclusive Rights To Lease, Operate and Manage 6,339 Wireless Communications Towers Across US from Verizon Communications Inc. (NYSE:VZ).
December 22, 2024
Share
Vertical Bridge REIT, LLC entered into an agreement to acquire Exclusive Rights To Lease, Operate and Manage 6,339 Wireless Communications Towers Across US from Verizon Communications Inc. (NYSE:VZ) for $3.3 billion on September 27, 2024. DigitalBridge and CDPQ has committed capital to support the transaction. The transaction is expected to close by the end of 2024.
J.P. Morgan acted as financial advisor to Verizon and Brian L. Sedlak, A. Michael Lee and Jeffrey D. Litle of Jones Day acted as legal counsel. Centerview Partners LLC acted as financial advisor to Vertical Bridge and Greenberg Traurig acted as legal counsel. Gabriel Silva, Keegan T. Lopez, Parker B. Kelsey, Brian Gluck and Andrew B. Purcell of Simpson Thacher & Bartlett acted as legal counsel to DigitalBridge. Mayer Brown LLP acted as legal counsel to CDPQ.
Vertical Bridge REIT, LLC completed the acquisition of Exclusive Rights To Lease, Operate and Manage 6,339 Wireless Communications Towers Across US from Verizon Communications Inc. (NYSE:VZ) on December 23, 2024.
Verizon Communications Inc. specializes in wireless and wireline telecommunications services. The group's activity is organized around 2 areas:
- mobile telecommunication services: mobile telephone services, data transmission, etc. operated in the Unites States via Verizon Wireless;
- wireline telecommunication services: local and long-distance telephone services, broadband Internet access, TV channels broadcasting, e-mailing, etc.
Net sales break down by customer between consumers (75.7%), businesses (22.4%) and other (1.9%).
Vertical Bridge REIT, LLC completed the acquisition of Exclusive Rights To Lease, Operate and Manage 6,339 Wireless Communications Towers Across US from Verizon Communications Inc. (NYSE: VZ).