Digital Colony has announced that its portfolio company, Highline do Brasil, has signed a definitive agreement to acquire Phoenix Tower do Brasil from funds managed by Blackstone Tactical Opportunities (Blackstone). The acquisition will add 2,500 new sites to Highline’s portfolio of digital communication infrastructure assets, significantly increasing its footprint in the region and positioning the company as one of the largest privately-owned tower and small cell companies in Brazil. Following the transaction, Highline will own more than 3,200 sites across its portfolio. Equity financing for the transaction was provided by Digital Colony. Financial terms of the transaction were not disclosed.