AT&T (NYSE:T) has successfully completed a significant real estate transaction, transferring 74 of its underutilized properties to Reign Capital, a private development firm.
Real EstateAttReign CapitalProperty DealAsset ManagementReal EstateJan 24, 2025
The real estate deal between AT&T and Reign Capital is valued at $850 million.
The deal involves 74 properties located across various regions in the United States.
Reign Capital plans to repurpose the properties for mixed-use developments, including commercial, residential, and retail spaces.
The benefits for AT&T include reducing maintenance and operational costs, reinvesting the proceeds into core business areas, and streamlining its asset portfolio.
AT&T plans to continue exploring opportunities to divest non-core assets and reinvest in areas that drive long-term growth, such as expanding its 5G network and enhancing its fiber broadband services.
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