American Tower Corp. (NYSE: AMT) has finalized its acquisition of CoreSite Realty Corp. (NYSE: COR).
American Tower is a global REIT and independent owner, operator and developer of multitenant communications real estate. The firm has a portfolio of 219,000 communications sites with a footprint in data center facilities. The deal was completed through a merger of an American Tower wholly owned subsidiary with CoreSite.
“We are thrilled to welcome CoreSite’s exceptional team to American Tower and are ready to work together to create long-term shareholder value,” said Tom Bartlett, American Tower CEO. “As 5G deployments and wireless and wireline convergence accelerate, we expect to leverage CoreSite’s highly interconnected data center facilities and critical cloud on-ramps to drive strong, consistent, recurring growth while enhancing the value of our existing tower real estate through emerging edge compute opportunities.”
J.P. Morgan served as lead financial advisor to American Tower, who was also advised by CDX Advisors. Cleary Gottlieb Steen & Hamilton LLP served as principal legal advisor to American Tower. Evercore served as sole financial advisor to CoreSite and Wachtell, Lipton, Rosen & Katz served as its principal legal advisor.