The Academy of Holy Angels (AHA) is a Catholic, coeducational, college preparatory high school community in Richfield, Minnesota. The Academy’s campus hosts a collection of historic buildings, including a non-operating smokestack that was re-purposed as a T-Mobile cellular antenna site. The rental stream AHA received from the lease helped fund a number of the school’s operations. While the Academy had interacted with numerous lease buyout companies in regards to their cellular lease, they were in pursuit of a strategic partnership with a trustworthy firm with the capacity to help them maximize the cell site’s potential.
Specifically, Academy of Holy Angels aimed to locate a partner who could:
• Appropriately analyze and assess the current value and future potential of the cell site
• Provide a significant lump sum of capital for their existing tenant lease
• Leverage actual site marketing capacity to attract a new tenant and replace the rent from the sold lease
• Execute the transaction in a transparent and timely manner
The TowerPoint Solution:
Having partnered with similar institutions in the past, TowerPoint customized a solution that would address the Academy’s objectives and form a strategic partnership structured to optimize results over the long term. What set TowerPoint apart was the firm’s unique knowledge of AT&T’s network expansion in the local market. This knowledge allowed the firm to leverage its corporate partnership with AT&T to secure a new lease on the smokestack resulting in a new rental stream for the Academy.
Through its collaboration with Academy of Holy Angels, TowerPoint performed a comprehensive site valuation, developed a customized solution to maximize the value of the cell site asset; and formed new revenue sharing opportunities. Through this transaction, AHA used its lump-sum payment to supplement both its operations budget and the school’s endowment for future needs.