Comments on: Everest Infrastructure Partners: The Phoenix of Tristar Investors? https://www.steelintheair.com/blog/everest-infrastructure-partners-tristar-investors-2-0/ Since 2004, Steel in the Air has served over 3,000 clients, reviewed over 10,000 cellular leases and tracked over 2,000 lease buyout offers. We represent private landowners, corporate property owners and public entities in lease negotiations against wireless carriers and tower companies. We also consult on cell site and cell tower valuation and brokerage. Our cell tower and cell site database has grown to encompass over 285,000 cell site locations nationwide. Thu, 11 Apr 2024 12:41:28 +0000 hourly 1 By: Margaret Rosenquest https://www.steelintheair.com/blog/everest-infrastructure-partners-tristar-investors-2-0/#comment-1310 Mon, 04 Oct 2021 17:44:11 +0000 https://www.steelintheair.com/Blog/?p=1392#comment-1310 I also signed a “new” contract with Tristar. Since being sold to American Tower, American Tower is wanting to change the new lease. Although they say they are not “threatening” me, they are saying that they will tear the tower down and move elsewhere if I don’t sign a new lease (lots less money) with them.

]]> By: Ken Schmidt https://www.steelintheair.com/blog/everest-infrastructure-partners-tristar-investors-2-0/#comment-617 Tue, 11 Aug 2020 17:36:38 +0000 https://www.steelintheair.com/Blog/?p=1392#comment-617 Gary,
Our clients have been receiving threats as well from American Tower to relocate the tower. There are a number of things that are funny about this.

1. The whole reason that Tristar offered to buy your tower is that they felt it would be costly or difficult to relocate. So ATC’s threats about moving the tower are likely empty.

2. Some clients have been receiving threats that due to the 50% revenue share, that the subtenants will move from the tower because of the high rent. This is absurd. The only reason that the rent is too high is because American Tower is going to backbill the tenant for the additional 50% revenue share so that they don’t lose any profit.

3. American Tower had the option to not buy this tower lease (and the other Tristar acquired leases) back from Tristar or Crown Castle (who also acquired some Tristar leases). Yet they bought the rights to the Tristar agreement anyway knowing full well there is a 50% revenue share. If ATC didn’t see value in the lease- why buy it? Perhaps to see if they could attempt to do what they are attempting to do here- negotiate their way out.

4. American Tower does not HAVE TO bill the wireless carriers an additional 50%. If I were a carrier on a tower that ATC failed to purchase or extend before and they tried to jack up my rent by 50%…. I would be mighty frustrated. That might cause me to investigate using another tower developer to build a tower near the ATC tower. But if this occurs, ATC is out of the rent from that carrier AND possibly other carriers if they can be convinced to move to the new tower.

All this being said, there are some attractive offers coming from American Tower (and other entities) to purchase these types of leases. I would not agree to any type of minimum rent type buyout as proposed by Everest- if you sell, you might as well sell it all.

If you are content to keep getting the payments, then continue to do so without fear that ATC is going to move the tower, especially in the next 14 years before expiration.

If you need more guidance – please reach out and we would be happy to help.

]]> By: Arthur Gary Johnson https://www.steelintheair.com/blog/everest-infrastructure-partners-tristar-investors-2-0/#comment-616 Sun, 09 Aug 2020 22:40:32 +0000 https://www.steelintheair.com/Blog/?p=1392#comment-616 I have an American Tower lease that runs until early 2034. I did do the Tri Star deal in early 2011. Of course that Tri Star agreement is in the hands of American Tower now. Tri Star was paying us an annual sum and giving us 50% of revenue sharing, with a minimum floor rent when the current ATC lease expired. ATC is pressuring to buy out the lease or they claim they will move the big 3 carriers and take down the tower. I don’t think they would like sharing 50% of the revenues in 2034. I have gotten a call from Everest Infrastructure Partners with a minimum floor and the 50% of revenue sharing when the lease expires in 2034.. I am trying to figure out how serious ATC is about moving the carriers. Any comments or information would be greatly appreciated.

Thank You,
Arthur “Gary” Johnson

]]> By: Ken Schmidt https://www.steelintheair.com/blog/everest-infrastructure-partners-tristar-investors-2-0/#comment-615 Wed, 06 Nov 2019 19:57:47 +0000 https://www.steelintheair.com/Blog/?p=1392#comment-615 In reply to steve matala.

Glad to provide the article. We have had a handful of clients who previously signed Tristar revenue share agreements that were then assigned back to American Tower. ATC is also contacting them and asking them to sell their leases. They like to do this early before the landowner knows how much they are really going to get from the revenue share.

]]> By: steve matala https://www.steelintheair.com/blog/everest-infrastructure-partners-tristar-investors-2-0/#comment-614 Tue, 29 Oct 2019 21:29:22 +0000 https://www.steelintheair.com/Blog/?p=1392#comment-614 thanks for this info. We have an original tri star agreement from 2011 that ATC wants us out of as they have it till 2027. Then its the tri star agreement that ATC got back. Their problem is by contract starting in 2027 we have to get P and L statements every 90 days and we get 45% of gross revenue plus the maint. on the tower cannot be over 10% of net or they eat it. But now they want to buy us out for about 20% as best as I can figure. I told them to pound sand as math don’t lie but they will; send me the P/L statements and we will see, the ATC guy said no way. As I am under no obligation to not post them on the internet or mail them to ATC’s competitors. I love that part. Thank you for the info.

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