UPDATE On December 24, Vertical Bridge REIT, LLC announced that it has closed its previously announced transaction with Verizon Communications Inc. (NYSE, NASDAQ: VZ), providing Vertical Bridge the exclusive rights to lease, operate, and manage more than 6,300 wireless communications towers across all 50 states from subsidiaries of Verizon for approximately $3.3 billion, including certain commercial benefits.
“The close of this transaction marks a transformative milestone for Vertical Bridge, solidifying us as the partner of choice in the U.S. communications infrastructure industry. These under-tenanted towers, many in hard-to-site locations, uniquely position us to expand vertical real estate solutions to our customers,” said Ron Bizick, President and CEO of Vertical Bridge. “With the addition of these towers, Vertical Bridge looks forward to growing our partnership with all our tenants.”
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