Commerz Real is investing in the American Tower Corporation’s European arm through a partnership with Allianz Global Investors.
Commerz Real has invested an unspecified amount to acquire a minority stake in ATC Europe from Allianz insurance companies, marking the debut transaction for the firm’s new infrastructure fund, Infravest.
In 2021, Allianz and American Tower established a partnership alongside La Caisse, with Allianz Capital Partners acquiring a 10% stake in ATC Europe on behalf of its insurance companies and infrastructure fund.
Following this latest transaction with Commerz Real, Allianz remains an investor in the platform.
Commerz Real said Allianz Global Investors will manage the stake going forward.
Wireless communication tower operator ATC Europe owns more than 30,000 towers across Germany, France and Spain.
Michael Henn, global head of green deal infrastructure at Commerz Real, said: “The ATC Europe business model is built around investments in critical infrastructure and is characterised by long-term, inflation-linked lease agreements with major telecommunications operators, generating stable and predictable cash flows.
“Through the continuous build-out of new sites, ATC Europe is closing existing gaps in mobile coverage and meeting the growing demand for mobile data transmission. Our partnership with Allianz Global Investors has enabled us to secure a stake in this attractive business for our investors.”
To read the latest IPE Real Assets magazine click here.
