AT&T said it cut a sale-leaseback deal with private developer Reign Capital, generating $850 million in cash for 74 of the telecommunications giant's underused properties across the U.S.

Unlocks value in company-owned properties originally constructed for legacy network equipment AT&T realizes more than $850 million in upfront cash proceeds from the asset transfer of 74 properties located across the country Unique deal structure preserves the necessary infrastructure requirements to keep the network running smoothly,