AT&T has secured $850 million by selling and leasing back underutilised central office facilities housing its legacy copper networks to real estate firm Reign Capital. The telecom giant plans to phase out most of its copper network operations by 2029 as customers transition to fibre optics and wireless technologies, which require less space and offer improved speed and reliability. 

The sale-leaseback agreement allows AT&T to retain only the necessary space for network operations while unlocking capital. The deal, finalised in early January, involves 74 properties nationwide but affects only a small portion of AT&T's central offices. The company confirmed that the transaction will not impact jobs or service offerings. 

(ET)