Acquisitions (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Acquisition Capital Expenditures



	For the three months				For the six months
	ended June 30,				ended June 30,
	2026		2025		2026		2025

					(in thousands)
Acquisitions of towers and related assets	$	9,722	$	579,914	$	141,921	$	634,097
Land buyouts and other assets ⁽¹⁾		19,066		9,308		30,363		18,513
Total cash acquisition capital expenditures	$	28,788	$	589,222	$	172,284	$	652,610

(1)Excludes $4.3 million and $4.6 million spent to extend ground lease terms for the three months ended June 30, 2026 and 2025, respectively, and excludes $6.4 million and $7.8 million spent to extend ground lease terms for the six months ended June 30, 2026 and 2025, respectively. The Company recorded these amounts in prepaid expenses and other assets within the changes in operating assets and liabilities, net of acquisitions section of its Consolidated Statements of Cash Flows.

Schedule of Acquisition of Towers and Related Asset and Liabilities by Assets Class



	For the six months
	ended June 30,
	2026		2025

	(in thousands)
Property and equipment, net	$	5,032	$	435,294
Intangible assets, net		32,933		218,806
Operating lease right-of-use assets, net		114,137		66,499
Acquisition related holdbacks		(645)		(129)
Long-term lease liabilities		(3,109)		(42,890)
Other liabilities assumed, net		(6,427)		(43,483)
Total acquisitions of towers and related assets and liabilities	$	141,921	$	634,097