Testimonials
Everything went very well. They accepted our offer and I want to thank you. I spoke with (our agent) and he mentioned that the agreement
you negotiated is the highest he has ever done. Thank you for all of the help you have given us.
Janis from New Jersey- Additional Ground Space Negotiation
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Comparable Tower Sales - Cell Towers and Broadcast Towers
We are frequently contacted by tower owners, appraisers, and tax assessors who are searching for comparable tower sales and pricing for towers. The problem is that there isn't a publicly available source for this data. The assessors' office rarely sees the information regarding the sale of towers because most towers are on leased property and are considered personal property and the sale is rarely recorded. The public and private tower companies rarely report what they paid or received in the sale of towers. If they do report anything, there isn't enough data included in the press release that you could determine whether the portfolio was comparable to yours.
Towers are bought and sold utilizing a "multiple of Tower Cash Flow". This multiple is determined by evaluating objective and subjective criteria. Objective criteria include revenue, expenses, number and type of tenants, remaining capacity on the tower, rural/suburban/urban morphology, and proximity of competitive towers. Subjective criteria include potential for future use by other wireless providers, barriers to entry for additional towers, quality of tenant roster, and other criteria reviewed by each buyer differently. To fully understand and compare tower sales, one must also understand the underlying assets in the comparable sales portfolio. How are the towers in the comparable tower portfolio similar and how are they different? Most importantly, how do the differences impact the appropriate multiple?
At Steel in the Air, we maintain a substantial database of comparable sales consisting of over 100 separate tower transactions a number of which have occurred in the last couple months. This database includes information for the subjective and objective criteria for those comparable sales listed in our database. We regularly rely upon these tower sales to determine the appropriate value for our client's portfolios. We help them understand the current market dynamics and what trends we expect to occur that will either increase or decrease sale prices for tower portfolios in the near term and the future. We don't sell this data outright. It consists of many private transactions which we cannot share. We can however rely upon this information to create accurate valuations of communication towers and portfolios.
If you have come to this page while trying to find data on comparable tower sales, please don't hesitate to contact us. We have received many inquiries lately from small tower owners and companies whose core business is not operation of towers. They have received an offer to purchase their towers and want to see other tower sales to know whether the offer is fair or not. In most cases, the offers are not fair but the owner has little reason to know this. We can help. If you have a tower portfolio and want a back of the napkin verbal estimate of its value, we would be happy to provide one for free. We will need tower level data- expenses and revenue as well as location data to provide you with an accurate assessment. Our hope is that you will retain us to assist in the sale of your tower should you decide to sell it but there is no commitment required to get the verbal estimate. Please contact us for more information.
Please note this offer for a free estimate does not apply unless you are the actual owner of the steel. If you just own the ground underneath the tower and are leasing to the tower owner, please see our page on Cell Tower Lease Buyouts.