Executive Summary:

Topsaw’s 3 Sisters, LLC, a small business in Greenville, S.C., had a cell tower lease that was near-term expiration. For 25 years, the tower rent had provided a steady income for Topsaw and the tower also sat on 14 acres of valuable timber land that was under threat of foreclosure. TowerPoint’s team worked with Topsaw and other parties to buy the cell site lease, allowing Topsaw to strengthen their business financially and buy back land.

• Challenges:

• Topsaw contacted a variety of cell tower companies and wanted to work with a team that could provide solutions its unique situation involving the bank and wireless service provider. The small business also wanted to maximize its cell site asset and acquire its timber property.

• The TowerPoint Solution:

• TowerPoint’s team worked with all parties involved to determine the highest and best value for Topsaw’s cell site assets, while securing as much of their timber acreage as possible. TowerPoint bought the cell tower lease for a lump sum payment that was paid at closing.

Results:

With its lease buyout, Topsaw purchased seven acres of timber land back from the bank. In addition, the transaction allowed Topsaw to pay off its mortgage balance on their office property in Georgetown, SC.