Commerz Real, in partnership with Allianz Global Investors, has acquired a minority stake in ATC Europe, a wireless communication tower operator, from Allianz insurance companies, on behalf of its newly launched infrastructure fund, Infravest. Allianz Global Investors will manage the stake going forward.
Allianz remains invested in ATC Europe. The purchase price was not disclosed. This transaction represents the first investment of the recently launched retail investor fund. ATC Europe owns more than 30,000 towers across Germany, France and Spain. Germany, with approximately 15,000 sites, represents the company’s primary market. ATC Europe is the European arm of American Tower Corporation.
“The ATC Europe business model is built around investments in critical infrastructure and is characterized by long-term, inflation-linked lease agreements with major telecommunications operators, generating stable and predictable cash flows,” said Michael Henn, global head of g
