On Feb 16, 2012, Tristar Investors sued American Tower Corporation alleging that American Tower had violated the Lanham Act, unfairly competed, disparaged Tristar’s business, tortuously interfered with an existing contract and with prospective business relations, and lastly had breached a contract. The suit was filed in Federal Court in Dallas. The suit was quickly posted on the internet. Tristar alleges in a lengthy complaint full of hyperbole that American Tower has prevented Tristar from purchasing assets that American Tower owns or subleases by using misrepresentation and unfair practices. [Read more…]
On a few occasions now, clients of ours with Crown Castle tower ground leases have received proposals to either purchase or extend their ground leases. These lease extension or lease buyout offers are attempts by Crown Castle to tie up long term rights under their towers. This is nothing new, as they have been making these offers for years now to every one of their landowners. [Read more…]
One of WCP’s agents told us yesterday that WCP is closing its doors and will not be funding any of the deals for which it has signed letters of intent. He mentioned that he was told this on a conference call where he was let go earlier this week. WCP blamed the issue on the financial markets.
Allegedly, WCP will release individuals who have signed letters of intent from their deal if the landowner calls WCP and requests to be released.
If you have entered into a deal with WCP and would like to check out other options, please contact us.
In recent months, we have received numerous inquiries from cell site lease holders who have entered into letters of intent with Wireless Capital Partners to sell their leases. These owners have contacted us because they have had difficulty getting Wireless Capital Partners to close on the purchases in a timely manner. To be fair to WCP, in some cases, the landowners were given a non-refundable fee to “hold” the closing for up to 3 more months. However in other cases, these owners could not reach their agent at Wireless Capital Partners. These owners wanted to see whether there was anyone else that would close quicker. [Read more…]
So today, two separate clients who are considering cell site lease buyouts from Wireless Capital Partners received emails from their WCP reps that has a cryptic message regarding Sprint/Nextel’s credit rating being downgraded to junk bond status. [Read more…]
We have received recent inquiries from AT&T cell site owners who have been approached by Blackdot to renegotiate their leases. Of course, there is a new pitch, because the old pitch that the merger between AT&T and Cingular was going to cause terminations just doesn’t ring true anymore. [Read more…]
It is incredibly disconcerting to me as a member of the wireless industry to see Black Dot Wireless’s success. They have made a business of convincing landowners who otherwise have no reason to negotiate a reduction in their cell tower lease to agree to such a reduction. [Read more…]