NEW YORK CITY—Verizon Communications is planning to sell and lease back its wireless network towers by the end of this year, a deal that could raise about $6 billion, according to published reports. Bloomberg and Reuters reported Tuesday evening that the nation’s largest mobile-phone company has hired TAP Advisors, which advised on two previous tower portfolio deals. A Verizon spokesman tells the company has no comment.

According to Bloomberg, a sale would involve about 12,000 towers and could be announced within 30 to 60 days. The estimated $6-billion selling price is based on the per-tower price that AT&T got in 2013 when it sold Crown Castle International 600 towers and the exclusive rights to lease 9,100 more for $4.83 billion.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.