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Live Webinar

90-minute live streaming program
  • August 13
  • 1:00 - 2:30 pm EST

Selling Cell Leases to Address COVID-19 Financial Challenges

August 13

Learn how selling a cell lease can help you address financial challenges without affecting current operations.

Many businesses, individuals, schools and municipalities face financial problems due to the COVID-19 outbreak. This topic will address how selling a cell lease can provide a bridge of hundreds of thousands to millions of dollars, without affecting current operations, to weather the storm until things return to normal.

This is what happened following the 2008 financial crisis: landlords sold off cell leases to generate immediate funds. Some sales were by cities or schools that were under emergency management to generate funds but kept operating. This time as well sell a cell lease can provide cash - bids often lead to sales for around 210 times monthly rents. But sale documents have to be done carefully to not harm the lease owner’s continued use and development of the building or property on which the cell tower is located. This information will provide examples of successful lease sales by businesses, cities and schools, describe the bid process, and identify major issues that need to be addressed in sale documents. This includes issues unique to cities, schools and units of government.

Learning Objectives

  • You will be able to identify main provisions of Request for Bids.
  • You will be able to describe the sales process.
  • You will be able to recognize the major steps leading to closing.
  • You will be able to explain provisions unique to municipal, school, government sales and provisions unique to sales of antennas on rooftops, water towers.

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Why Lorman?

Over 33 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

Reasons to Sell/Examples of Successful Sales
  • Obtain Funds for Current Operations
  • Aid Turnaround, Workout, Bankruptcy Proceedings
  • Pay off Debt
  • Fund Pension Obligations
  • Increase Proceeds From Sale of Land or Building With Cell Lease
  • Fund Municipal Improvements Without Raising Rates, Issuing Bonds
Overview of Cell Lease Sales
  • Who Are Purchasers
  • What Is Being Sold
    • Current Lease
    • Future Communications Antenna Leasing Rights, Usually for Decades
  • Sales Prices After Bids Often 210 Times Monthly Rents
    • Potentially Higher for Schools, Municipalities, etc.
  • Unaffected by 5G
Sales Process
  • Obtaining Bids Gets Best Price and Terms
    • Assures Lenders, Creditors, Public Bodies That Best Price Was Obtained
  • Main Provisions of Request for Bids
    • Summary With All Information Bidders Need
    • Lease, Amendments, Recent Rent Checks
    • Key Terms for Final Documents to Protect Future Use, Development of Property
  • Provisions Unique to Municipal, School, Government Sales
  • Provisions Unique to Sales of Antennas on Rooftops, Water Towers
Major Steps Leading to Closing
  • Easement Agreement
  • Purchaser Due Diligence, Especially
    • Title Insurance
    • Survey
    • Phase I Environmental Study
  • Consent of Lender (If Mortgage on Property)
Time Needed for Sale
  • Usually 3-4 Months at Short End
  • Often Longer for Antennas on Rooftop, Water Tower, Due to Increased Complexity
  • Usually Longer for Municipal, School, Government Sales Due to Procedural Requirements
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Why Lorman?

Over 33 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

Live Webinar Registration

  • AIPB 1.5
     
  • This program is acceptable for 1.5 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The State Bar of Arizona does not approve or accredit CLE activities for the Mandatory Continuing Legal Education requirement. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • NH MCLE 1.5
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 90 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NY CLE 1.5 including Areas of Professional Practice 1.5
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 1.5 credit hours in the area(s) of Areas of Professional Practice for 1.50 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, LLC. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of CLE credit.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     
  • CPE 1.8 including Specialized Knowledge 1.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 1.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 1.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, LLC. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 1.5 hours.
     

Who should attend?

This live webinar is designed for attorneys, planners, directors of development, project managers, government administrators, council and board members, land use officials, public works and utilities directors, municipal government officials, engineers, surveyors, business owners, and real estate professionals.

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Why Lorman?

Over 33 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 24 years he has represented property owners on cell leases
  • Including helping clients sell around 100 cell leases
  • Graduate, Harvard, Yale and Michigan Law School
  • Can be contacted at 616-336-6725 or [email protected]
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Why Lorman?

Over 33 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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Product ID: 407871
Published 2020
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