AT&T has completed the resale agreement that involves part of the oldest central offices buildings, and secured $ 850 million in cash.

The deal, which was made with Reign Capital, includes the transfer of 74 properties across the United States, which includes an area of ​​more than 13 million square feet, according to reports Communications News platform.

The characteristics, which were originally built to support AT & TThe copper network infrastructure has become largely frequent due to the company’s transformation into optical fiber technology. Fiber networks require a much lower space, as well as low energy and operation costs, making many old properties unnecessary. Cute – good.

As part of its broader transition, AT & T It plans to gradually get rid of the majority of its copper network operations by the end of 2029, with the aim of connecting 50 million locations to the fiber by that time.

As part of the agreement, AT & T It will only rent the necessary space for critical infrastructure, maintain full operational control over those areas. Although the company has not revealed details about rental payments, it is expected that the cash injection offered with a value of $ 850 million will remain significantly.

The deal also includes the arrangement of profit sharing, which allows AT & T To take advantage of future increases in the value of the characteristics through redevelopment. In addition, the company has the right to agree to all redevelopment plans, ensuring that the infrastructure and operations remain protected.

Michael Ford, AT & TThe head of the global real estate described the deal as an innovative way to generate immediate and long -term value of unused commercial real estate. This step is in line with the company’s broader transformation goals and provides a financial batch of fiber, which is an expensive but essential task.

This is not. AT & TThe first treatment of this type. In 2021, she completed a smaller sale of sale with Reign Capital, selling 13 properties with a total of more than 3 million square feet for $ 300 million. This previous deal has already started generating revenue revenue, and AT & T Plans to use the current and largest agreement as a template for similar transactions in the future. The company confirmed that the deal will not affect customer or job services and affect only a small part of the central office property.