Choosing The Right Attorney
Choosing the right attorney for the sale of your tower asset is one of the most important decisions you will make. Tower related transactions are more detailed than standard real estate sales, and it is critical that you work with an attorney that understands the intricate details of the development, ownership, operation, and conveyance of tower assets as well as all related aspects of standard real estate law. Certain qualities are key to consider in your search for the right person to represent your interests.
Experience: First and foremost, an attorney should have the necessary experience with tower related transactions and sales. This means selecting an attorney that has worked with a number of different sellers and buyers, creating, drafting and finalizing agreements for the sale of tower assets as well as for the sale of the ownership entity. The attorney should have experience working with small tower portfolios of one to ten tower assets as well as larger numbers of assets. The attorney should have the experience of working with both a seller as well as purchasers, developing an understanding of what is important on both sides of the transaction.
Understanding: Each tower facility is as unique as the land where it is located, and an attorney representing your interests should have a solid understanding of how tower facilities are developed, constructed, and operated. From the ground lease to the tenant leases, to the zoning permitting and other legal requirements, your attorney should have a clear understanding of the general requirements applicable to tower facilities. Without that knowledge, it is likely that something will be missed or the attorney will have to spend a great deal of time learning the basics of tower development and construction.
Industry Knowledge: The wireless and tower infrastructure industry is constantly changing. Wireless operators merge and consolidate markets, agree to share networks with other wireless operators, and constantly change the equipment, antennas, and radios they use on various tower sites. Further, there are new wireless operators commencing deployment of their networks and expanding into different service areas. Each of these may have a direct impact on your tower facility or its valuation. Your attorney should be well informed of the most current developments within the overall wireless industry.
You should think carefully about the selection of an attorney and make sure that you hire the best person for your needs.