DALLAS (dpa-AFX) - AT&T (T) completed a structured sale-leaseback of underutilized central office facilities with private real estate development firm Reign Capital. The transaction generates more than $850 million in upfront cash proceeds for AT&T. The deal includes the asset transfer of 74 properties.
The company noted that this model not only monetizes real estate assets as AT&T plans to exit the large majority of its legacy copper network operations by end of year 2029, but it also aligns with the company's strategic capital allocation priorities.
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