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OnDemand Course

Selling Your Cell Tower Lease in the 5G Era

Learn how to respond when someone offers to purchase your cell tower lease.

Property owners with a lease for a cell tower on their property routinely receive six-figure offers to buy the lease and future leasing rights. While attractive, those offers pose unusual legal, financial, and technical risks that the property owner and its regular attorney typically are not familiar with. For example, is it true that the advent of 5G cell service is a reason to sell leases now. The program will also cover cell lease sales as a source of funds for water system and other municipal capital projects, such as projects too small to warrant a bond issue. This program will guide property owners and their attorneys as they evaluate and respond to such offers. It includes covering what drives the offers, current sales prices, how to evaluate financial terms to determine whether selling makes sense (and when it doesn't). You will be better able to evaluate purchase offers, identify and modify the very one-sided documents offered by purchasers, and address some of the risks involved in a sale. Such risks include making sure the property owner is not hindered in developing or using its property, insurance and bankruptcy protections. Local governments face all of the preceding issues, plus special questions of municipal authority, bond covenants/IRS restrictions, compliance with procurement statutes, prohibitions on waste, and risks of accidently triggering property reverters.

107 minutes
Certificate of Completion
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Cell Lease Sales Basics

  • Financial Basics - Current and Renewal Rents, Additional Tenants
  • Legal Structure - Easement and Assignment of Lease
  • Lease Sales as Source of Funds for Municipal Capital Projects, Examples

Key Factors Affecting Lease Sales

  • Typical Sales Prices - Bid Process to Get the Best Price
  • When Cell Lease Sales Make Sense, and When They Don't
  • Selling Property With a Cell Lease - Sell the Cell Lease First
  • Protective Terms for Sales of Leases on Water Towers, Buildings
  • Avoiding Terms That Limit Future Property Development
  • Length of Time for a Sale, Start to Finish

5G Cell Service and Cell Lease Sales

  • What Is 5G?
  • Why Are Thousands of Small Cells Needed?
  • When Will 5G Be Available? Where?
  • 5G's Effect on Prices for Cell Lease Sales

Legal Risks

  • Lease Terms That Impair or Prevent a Sale
  • Addressing One-Sided Deal Documents
  • Bankruptcy Protections
  • Insurance Provisions for a 50+ Year Deal
  • Buyer Compliance With Building, Safety Codes

State and Local Government Issues

  • Bond Counsel Approval Usually Needed
  • Dillon's Rule, Governmental Authority for a Sale
  • Property Specific Restrictions, Reverters
  • Procurement, Waste Issues

Drafting and Counseling Issues

  • Business Pros and Cons
  • Visualizing the Deal (Ground Level Sites; Building Sites)
  • Getting Multiple Offers via a RFP Process
  • Reimbursement of Property Owner's Legal Fees and Other Transactional Fees
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on September 19, 2019.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.75
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.75 CLE hours of participatory credit.
     
  • WA CLE 1.75
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.75 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Jonathan L. Kramer, Esq.

Jonathan L. Kramer, Esq.

Telecom Law Firm, P.C.

  • Senior partner at Telecom Law Firm, P.C. with offices in Los Angeles and San Diego
  • Attorney admitted in California and New Mexico
  • Wireless leasing and zoning experience for more than 20 years
  • Radio frequency telecom engineer for more than 35 years
  • Doctor of Law and Policy, Northeastern University
  • Can be contacted at 310-312-9900, ext. 121 or [email protected]
John W. Pestle, Esq.

John W. Pestle, Esq.

Varnum LLP

  • Chair of the Telecommunications Group at Varnum LLP law firm
  • For 25 years has represented property owners on cell leases
  • Including helping clients sell over 100 cell leases
  • Graduate of Harvard, Yale, and Michigan Law School
  • Can be contacted at 616-336-6725 or [email protected]
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Why Lorman?

Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Pay once and get a full year of unlimited training in any format, any time!


  • OnDemand Courses
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  • Executive Reports
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Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 406155
Published 2019
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