Learn how selling a cell lease can help you address financial challenges without affecting current operations.
Many businesses, individuals, schools and municipalities face financial problems due to the COVID-19 outbreak. This topic will address how selling a cell lease can provide a bridge of hundreds of thousands to millions of dollars, without affecting current operations, to weather the storm until things return to normal.
This is what happened following the 2008 financial crisis: landlords sold off cell leases to generate immediate funds. Some sales were by cities or schools that were under emergency management to generate funds but kept operating. This time as well sell a cell lease can provide cash - bids often lead to sales for around 210 times monthly rents. But sale documents have to be done carefully to not harm the lease owner's continued use and development of the building or property on which the cell tower is located. This information will provide examples of successful lease sales by businesses, cities and schools, describe the bid process, and identify major issues that need to be addressed in sale documents. This includes issues unique to cities, schools and units of government.
Agenda
Faculty
John W. Pestle, Esq.
Varnum LLP
- Chair of the Telecommunications Group at Varnum LLP law firm
- Representing property owners nationwide on cell leases for 27 years
- Helped clients sell over 100 cell leases
- Graduate of Harvard, Yale, and Michigan Law School
- Can be contacted at [email protected] or 616-336-6725
Jonathan L. Kramer, Esq.
Telecom Law Firm, P.C.
- Senior partner at Telecom Law Firm, P.C.: Offices in Los Angeles, San Di ego, and Boston
- Attorney admitted in California and New Mexico
- Wireless leasing and zoning experience for more than 25 years
- Over 6,000 wireless projects (zoning, leasing, lease enforcement, lease sales)
- Radio frequency/Broadband telecom engineer for more than 45 years
- Doctor of Law and Policy, Northeastern University
- Can be contacted at [email protected] or 310-312-9900, ext. 121
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