Commercial property owners
Rooftops and parcels that carry antenna sites.
The transaction
Here is what changes, and what does not.
- What you sell
- A rooftop transaction is written around the building rather than the ground. You sell the rooftop lease and the rent it produces, together with a long-term right to the space the equipment occupies and the access to it. That access is typically a section of roof, the path for cabling, and a route through the building. For a tower on a parcel, you sell the ground lease and grant an easement over the lease area. In either case the building and the rest of the parcel are outside the transaction.
- What you keep
- You continue to hold title to the property, and nothing changes on site. The tenant keeps operating under the same agreement it has today.
- How you are paid
- The purchase price is paid in immediately available funds at closing. Where it suits your budget or tax position, the proceeds can instead be structured as a series of payments. The funds are paid to the entity on title.
Points that matter
If you have plans for the property, the easement should be drafted around them.
Plans for the property
If you expect to redevelop, re-roof, or sell the building, tell us early, because the easement should be drafted around those plans rather than discovered after the fact.
Several sites at once
Owners with antenna sites or billboards across a portfolio can sell the interests together in one transaction with one closing.
Lender and partner consents
Where a mortgage or partnership agreement requires consent, we build time for it. We provide the documents your lender or partners will ask to see.
Will the easement complicate a future sale or refinancing of the building?
A recorded easement becomes part of the title, so a buyer or lender will see it. We draft it to cover only the antenna site and its access, and we will walk through its terms with your counsel so there are no surprises later.
We own the property through an LLC. Does that matter?
Only for the paperwork. Payment is made to the entity on title, and we will need the usual authority documents for the person signing.
Can we sell the interests at several properties together?
Yes. We acquire single sites as well as groups of sites, and a group can close in one transaction.
What if the tenant removes its equipment one day?
The purchase is a sale rather than a loan, so we have no claim against you if the rent later falls or the tenant leaves. If the tenant were ever to vacate the site, you would keep the full purchase price and would owe us nothing.
