AT&T’s $850 million plus sale-leaseback deal with Reighn Capital of 13 million square feet across 74 US underutilized central office properties offers some creative real estate approaches other companies might decide to try.

The portfolio represents only a small part of the company’s central office holdings. The deal will not negatively affect service or jobs and noted it is “leasing back space that’s needed for the network,” as the company’s statement said. This will help AT&T cut operating expenses, trim power consumption, and turn away from copper networks — a long-term shift the company has taken to improve margins and exit the legacy networks and line of business by 2029. The deal allows the company to earn money from the properties sold in the future.

There are some strong benefits the company will see. “With refinancing in today’s world, you might not get 100% of the property value,” Jonathan Hipp, principal, U.S. capital markets and head of U.S. net lease group, tells GlobeSt.com. “They wouldn’t be able to finance it altogether.”