Executive Summary
Parc East Condominiums is a 283-unit complex located in Alexandria, VA. The homeowner’s association (HOA) had leased a portion of their rooftop to T-Mobile in 2000, and decided it was time to take advantage of the current market for wireless real estate assets. The HOA representatives saw an opportunity to sell at a premium that would generate cash reserves to fund a capital improvement. Parc East worked with TowerPoint and was able to receive top value for the cell site; build the HOA’s cash reserves; and create new revenue opportunities for the property’s rooftop space.