What was the total consideration received for the strategic partnership agreements with CDPQ and Allianz in Q3 2021? 
 AFFO benefits to American Tower have largely come through fuel savings we anticipate over time that our yields on these investments will further expand as we are able to lengthen battery and generator replacement cycles. Having already expanded our lithium ion-powered site count from 4,500 in 2019 to 6,700 in 2020, we are targeting another 8,000 sites by the end of 2022 and recently signed a multimillion dollar bulk battery purchase agreement in Africa in support of this goal. Importantly, we believe that energy efficiency, the use of renewables, and sustainability in our broader sense can represent an important competitive advantage for us, not only from the flow-through to AFFO, but also the differentiation in service quality for our customers. We continue to view sustainability as a critical component of our company culture, and we'll be highlighting our continued progress in future sustainability reports, which I encourage all of you to read by the way.
In closing, our excitement around 5G on a global basis continues to grow. Consumers and enterprises are using more advanced devices for more things, resulting in consistent elevated growth in mobile data usage, which, in turn, strains existing wireless networks and necessitates incremental densification and network improvement. Considerable new spectrum is being deployed. New entrants in select markets are building greenfield networks, and our macro tower-oriented portfolio remains well positioned to capture a significant portion of wireless investment activity.
In addition, through our platform expansion strategy, we are focused on ensuring that the company benefits from the ongoing convergence of wireless and wireline and the associated expansion of virtualization in cloud-native applications throughout the network ecosystem. Importantly, as we optimize our core business and look for ways to further enhance our growth path in the broader digital infrastructure world, we are as committed as ever to driving profitability, sustainability, and recurring growth. We're energized by the future and are excited to be in a vibrant industry that is helping to connect the world. With that, let me turn the call over to Rod to go through our third quarter results and updated full year 2021 outlook.
Rod?
Rod Smith -- Executive Vice President, Chief Financial Officer, and Treasurer
Thanks, Tom, and thank you, everyone, for joining today's call. I hope you and your families are well. Q3 was another quarter of strong performance for us. And as you heard from Tom, we are as encouraged as ever by the technological trends that underpin our long-term growth potential.
Before digging into the details of our results and raised outlook, I'd like to touch on a few highlights from the quarter. First, we closed on our strategic partnership agreements with CDPQ and Allianz, through which they purchased an aggregate of 48% of our ATC Europe business for a total consideration of around EUR 2.6 billion. In addition, we closed the remaining 4,000 Telxius communication sites in Germany back in August. With the transaction now fully closed and funded, our teams are working to rapidly integrate the assets, and we are already seeing encouraging activity on the portfolio.
Second, we continued to strengthen our balance sheet, raising roughly $3 billion in senior unsecured notes, including our euro offering earlier this month. Through our financing transactions, we have been able to maintain an attractive weighted average cost of debt while also continuing to extend our maturities. As a result of this activity, along with the benefit from a nonrecurring advance payment received from a tenant during the quarter, we finished Q3 with net leverage of 4.9 times. While we expect net leverage to increase back into the low 5 times range in the fourth quarter, we are right on track with our overall post-Telxius delevering path.
And lastly, we saw another quarter of record services activity in the U.S. as carriers accelerated 5G-related projects. We view this as a leading indicator of strong levels of gross leasin
 AFFO benefits to American Tower have largely come through fuel savings we anticipate over time that our yields on these investments will further expand as we are able to lengthen battery and generator replacement cycles. Having already expanded our lithium ion-powered site count from 4,500 in 2019 to 6,700 in 2020, we are targeting another 8,000 sites by the end of 2022 and recently signed a multimillion dollar bulk battery purchase agreement in Africa in support of this goal. Importantly, we believe that energy efficiency, the use of renewables, and sustainability in our broader sense can represent an important competitive advantage for us, not only from the flow-through to AFFO, but also the differentiation in service quality for our customers. We continue to view sustainability as a critical component of our company culture, and we'll be highlighting our continued progress in future sustainability reports, which I encourage all of you to read by the way.
In closing, our excitement around 5G on a global basis continues to grow. Consumers and enterprises are using more advanced devices for more things, resulting in consistent elevated growth in mobile data usage, which, in turn, strains existing wireless networks and necessitates incremental densification and network improvement. Considerable new spectrum is being deployed. New entrants in select markets are building greenfield networks, and our macro tower-oriented portfolio remains well positioned to capture a significant portion of wireless investment activity.
In addition, through our platform expansion strategy, we are focused on ensuring that the company benefits from the ongoing convergence of wireless and wireline and the associated expansion of virtualization in cloud-native applications throughout the network ecosystem. Importantly, as we optimize our core business and look for ways to further enhance our growth path in the broader digital infrastructure world, we are as committed as ever to driving profitability, sustainability, and recurring growth. We're energized by the future and are excited to be in a vibrant industry that is helping to connect the world. With that, let me turn the call over to Rod to go through our third quarter results and updated full year 2021 outlook.
Rod?
Rod Smith -- Executive Vice President, Chief Financial Officer, and Treasurer
Thanks, Tom, and thank you, everyone, for joining today's call. I hope you and your families are well. Q3 was another quarter of strong performance for us. And as you heard from Tom, we are as encouraged as ever by the technological trends that underpin our long-term growth potential.
 Before digging into the details of our results and raised outlook, I'd like to touch on a few highlights from the quarter. First, we closed on our strategic partnership agreements with CDPQ and Allianz, through which they purchased an aggregate of 48% of our ATC Europe business for a total consideration of around EUR 2.6 billion. In addition, we closed the remaining 4,000 Telxius communication sites in Germany back in August. With the transaction now fully closed and funded, our teams are working to rapidly integrate the assets, and we are already seeing encouraging activity on the portfolio.
Second, we continued to strengthen our balance sheet, raising roughly $3 billion in senior unsecured notes, including our euro offering earlier this month. Through our financing transactions, we have been able to maintain an attractive weighted average cost of debt while also continuing to extend our maturities. As a result of this activity, along with the benefit from a nonrecurring advance payment received from a tenant during the quarter, we finished Q3 with net leverage of 4.9 times. While we expect net leverage to increase back into the low 5 times range in the fourth quarter, we are right on track with our overall post-Telxius delevering path.
And lastly, we saw another quarter of record services activity in the U.S. as carriers accelerated 5G-related projects. We view this as a leading indicator of strong levels of gross leasin