Vertical Bridge has completed its $3.3 billion acquisition of more than 6,000 towers from Verizon.

The company confirmed the closing of the deal late last month.

As part of the acquisition, Vertical Bridge, which is a subsidiary of digital infrastructure investor Digital Bridge, will lease, operate, and manage more than 6,300 wireless communications towers across all 50 states from subsidiaries of Verizon.

The sale was first announced in September.

At the time, Verizon noted the transaction is structured as a prepaid lease with an upfront payment of approximately $2.8bn in cash.

The agreement will last for 10 years and will see Verizon lease back capacity on the towers from Vertical Bridge, serving as the anchor tenant, with options that could extend this lease term up to 50 years.

According to Verizon, it will also have access to additional space on the towers for future use, subject to certain restrictions.

“The close of this transaction marks a transformative milestone for Vertical Bridge, solidifying us as the partner of choice in the US communications infrastructure industry. These under-tenanted towers, many in hard-to-site locations, uniquely position us to expand vertical real estate solutions to our customers,” said Ron Bizick, president and CEO of Vertical Bridge. “With the addition of these towers, Vertical Bridge looks forward to growing our partnership with all our tenants.”

Vertical Bridge owns and master leases more than 11,000 towers across the US. The company is one of the biggest tower operators in the US.

Verizon has previously sold tower assets, notably in 2015, when it parted the rights to lease and operate about 11,000 towers to American Tower Corp. for an upfront payment of $5bn. That deal allowed Verizon to raise funds for spectrum and pay down debt.