The Challenge
Selling Everything Together Wasn’t Working.
The owners of an industrial property with a monopalm cell tower on-site were set on selling everything as a package. Early on, TowerPoint recommended selling the cell tower ground lease on its own, but the owners declined, concerned that separating it would create an encumbrance and complicate the sale for buyers interested in the full property. Instead, they entered escrow with a single buyer for both. Ultimately, that deal fell through, and the backup offers that followed undervalued the property.
The Opportunity
Two Assets. Two Buyers. More Money.
TowerPoint had stayed in touch, so when the package deal collapsed, the conversation picked up where it left off. This time, TowerPoint laid out the numbers: with its premium valuation of the tower lease, selling the two assets separately would net the owners roughly 20% more than any package offer on the table. Separating the two helped the real estate sale, too. Without the tower lease in the mix, the industrial property’s economics were simpler to evaluate. That drew a wider pool of buyers and a stronger price.
Making the Decision
Why the Owners Said “Yes”
With a better outcome on both fronts, the owners moved forward with selling the two assets separately.
- A premium valuation: TowerPoint priced the tower lease on its own merits, making the split worth more than any package offer.
- Credibility earned over time: TowerPoint recommended the split from the start. When the package deal fell apart, that early advice had proven right, and the owners trusted TowerPoint’s read.
- Simplified the property sale: With the building sale as the owners’ primary goal, TowerPoint structured around it. Three-party deals with different priorities often stall at this point. TowerPoint closed first, inside the property’s escrow, disclosed everything to the buyer, and walked them through the economics, so they were comfortable from day one.
- Local track record: Recent closings nearby gave the owners confidence TowerPoint could close on their timeline.
The Outcome
Two Sales. More Proceeds. Under 30 Days.
TowerPoint closed on the cell tower ground lease in just under 30 calendar days, ahead of the property sale and inside its escrow timeline. The owners came away with more in total than the package offers could deliver, and because TowerPoint handles asset management, the new owner can focus on the property.
Strategic Insight
The Best Deal Isn’t Always the Package Deal
A tower lease bundled into a property sale is priced by a buyer focused on the real estate. Selling it on its own lets a buyer who specializes in wireless leases price it on its merits. The strategy only works if that buyer can close on the real estate deal’s timeline, disclose openly to everyone involved, and hand off cleanly. TowerPoint did all three, because it understands both wireless leases and the real estate transactions they sit inside.
Connect with TowerPoint
When it comes to maximizing value, experience matters. TowerPoint’s experts provide strategic insight and a proven process to help you achieve the best outcome.
