Greenberg Traurig Advises Vertical Bridge on $3.3 Billion Acquisition of 6,300+ Towers from Verizon

WASHINGTON, D.C. - Dec. 24, 2024 - Global law firm Greenberg Traurig, LLP represented Vertical Bridge REIT, LLC ("Vertical Bridge"), the largest private owner and operator of communications infrastructure in the United States, in connection with the closing of its previously announced transaction with Verizon Communications Inc. ("Verizon") (NYSE, NASDAQ: VZ).

The deal, which was first announced in September, closed on December 23 and provides 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.

Vertical Bridge, headquartered in Boca Raton, Florida, was founded in 2014 and is the largest private owner and operator of communications infrastructure and locations in the United States, with a portfolio of more than 500,000 sites, including over 17,000 owned and master-leased towers. Vertical Bridge provides build-to-suit and colocation solutions to the wireless industry. The Company's portfolio spreads across all 50 states and Puerto Rico.

The Greenberg Traurig Corporate team was led by Digital Infrastructure, Data Center, and Cloud Computing Industry Group Co-Chair Kemal Hawa and Shareholder Christopher T. Turek in Washington, D.C. The Corporate and Finance teams were also comprised of Shareholders Richard C. Kim and Michael D. Helsel in New York; Associates Nicolas H. Sabet and Joseph K. Kunnirickal in Washington, D.C., Christine Plagmeijer and Ricardo Crispim Leite in New York, Kristy "Kitt" Ritter (Miami), as well as Frank (Kelvin) Jones Jr., Joshua Pincus, and Hunter L. Shattuck in Washington, D.C.

Additional support was provided by a Greenberg Traurig multidisciplinary cross-office team including a Real Estate team consisting of Vice Chairman Robert J. Ivanhoe and Shareholders David E. Bolen and Brandilyn Y. Dumas in New York; a Tax team comprised of Shareholders Carl J. Riley (New York), Marvin A. Kirsner (Fort Lauderdale), and Robert D. Simon (Northern Virginia); Antitrust Litigation & Competition Regulation Shareholder Stephen M. Pepper (New York); and International Trade Of Counsel Sonali Dohale (Washington, D.C.).

About Greenberg Traurig: Greenberg Traurig, LLP has more than 2750 attorneys in 48 locations in the United States, Europe and the Middle East, Latin America, and Asia. The firm is a 2024 BTI "Leading Edge Law Firm" for delivering on client expectations for the future and is consistently among the top firms on the Am Law Global 100 and NLJ 500. Greenberg Traurig is Mansfield Rule Certified Plus by The Diversity Lab. The firm is recognized for powering its U.S. offices with 100% renewable energy as certified by the Center for Resource Solutions Green-e® Energy program and is a member of the U.S. EPA's Green Power Partnership Program. The firm is known for its philanthropic giving, innovation, diversity, and pro bono. Web: www.gtlaw.com.