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National  + Industrial  |  November 15, 2021
Paul Bubny
By: Paul Bubny

American Tower, CoreSite Forge $10B Acquisition Deal

American Tower Corporation and CoreSite Realty Corporation said Monday that they had reached an agreement for American Tower to acquire CoreSite for $170 per share in cash in a deal valued at $10.1 billion. The transaction is expected to create a differentiated, comprehensive and interconnected communications real estate platform, combining Boston-based American Tower’s wireless connectivity and Denver-based CoreSite’s data center facilities. 

Tom Bartlett, American Tower’s CEO, said, “We are in the early stages of a cloud-based, connected and globally distributed digital transformation that will evolve over the next decade and beyond. We expect the combination of our leading global distributed real estate portfolio and CoreSite’s high quality, interconnection-focused data center business to help position American Tower to lead in the 5G world.” 

JPMorgan is serving as lead financial advisor to American Tower, which is also being advised by CDX Advisors. Evercore is serving as sole financial advisor to CoreSite. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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