american tower reit amt announced monday an agreement in which it investment firm stonepeak will by a 29 stake in american towers us data center business in a deal valued at 25 billion that implies a 105 billion valuation for american towers us data center business the deal comes about a week after the real estate investment trust reit focused on communications sites said it filed term sheet that considers a thirdparty minority investment in its data center business american tower said the deal with stonepeak supports the equity financing part of its previously announced completion of its coresight realty corp acquisition in late2021 we are pleased to partner with stonepeak in our us data center business where we expect to create value through growth in our highly interconnected cloud onramp rich portfolio of data center assets said american tower chief executive tom bartlett american towers stock which was still inactive in premarket trading has slipped 32 over the past three months while the spdr real estate select sector etf xlre has dropped 158 and the sp 500 spx has lost 116