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Selling Cell Leases to Address COVID-19 Financial Challenges

Live Webinar
August 13, 2020
1:00 pm ET (12 pm CT, 11 am MT, 10 am PT)
1 hour 30 minutes
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Reasons to Sell/Examples of Successful Sales
  • Obtain Funds for Current Operations
  • Aid Turnaround, Workout, Bankruptcy Proceedings
  • Pay off Debt
  • Fund Pension Obligations
  • Increase Proceeds From Sale of Land or Building With Cell Lease
  • Fund Municipal Improvements Without Raising Rates, Issuing Bonds
Overview of Cell Lease Sales
  • Who Are Purchasers
  • What Is Being Sold
    • Current Lease
    • Future Communications Antenna Leasing Rights, Usually for Decades
  • Sales Prices After Bids Often 210 Times Monthly Rents
    • Potentially Higher for Schools, Municipalities, etc.
  • Unaffected by 5G
Sales Process
  • Obtaining Bids Gets Best Price and Terms
    • Assures Lenders, Creditors, Public Bodies That Best Price Was Obtained
  • Main Provisions of Request for Bids
    • Summary With All Information Bidders Need
    • Lease, Amendments, Recent Rent Checks
    • Key Terms for Final Documents to Protect Future Use, Development of Property
  • Provisions Unique to Municipal, School, Government Sales
  • Provisions Unique to Sales of Antennas on Rooftops, Water Towers
Major Steps Leading to Closing
  • Easement Agreement
  • Purchaser Due Diligence, Especially
    • Title Insurance
    • Survey
    • Phase I Environmental Study
  • Consent of Lender (If Mortgage on Property)
Time Needed for Sale
  • Usually 3-4 Months at Short End
  • Often Longer for Antennas on Rooftop, Water Tower, Due to Increased Complexity
  • Usually Longer for Municipal, School, Government Sales Due to Procedural Requirements

Registration

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