Atlanta, GA (PRWEB) November 06, 2013
Tower Capital Advisors (TCA) announced this week a new Reserve Pricing Policy for their on-line wireless lease auction site, towercapauctions.com. Sellers can now set their Reserve Price, the price under which they will not sell their lease, to an amount equal to the highest written bid they have received to date plus the amount of the cost of the auction itself. Tower Capital Auctions is a portal that directly connect sellers and institutional buyers of cellular site leases. This auction system is a first of its kind in the cell tower lease buyout industry and eliminates the traditional model of brokers, middleman and the lease aggregation firms.
Commenting on this policy change, Michael DeMita, CEO and Founder of TCA said “Allowing site owners that have entertained offers to sell their lease and are interested in selling to set the Reserve Price at auction to a level that includes the modest cost of the auction itself means a seller has nothing to lose and everything to gain by using our competitive forum to value and sell his or her lease."
Adding to this, Mr. DeMita also said "What this means is that If bids come in at less than this Reserve Price, a seller can walk and close on his original highest offer with no obligation for any fees or costs for having tried. If they come in higher, the cost of the auction is covered and more money goes to the seller at closing than he was able to get anywhere in the open market. We are very pleased that our auction process, which eliminates the overhead associated with the buyer's marketing efforts and forces buyers into a competitive process, gets the seller more money for his asset and are comfortable enough with our results to date to have made this change."
Tower Capital Advisors provides buyers and sellers alike advisory services and market data about the wireless lease buyout business. The Market Data page accessible to the public at http://www.towercapadvisors.com is the first information portal ever available that quotes specific statistics about current prices in the market for the diverse community of site owners that have cellular towers or rooftop installations on their property.
Tower Capital Auctions (http://www.towercapauctions.com) is the affiliate auction platform developed by Tower Capital Advisors to benefit site owners and buyers alike. Tower Capital Auctions has registered more than a half-dozen, pre-qualified bidders with market capitalizations in excess of $50 billion. These bidders are the same buyout and tower companies that call and regularly try and buy these assets from property owners using internal call centers and sales forces - who in turn have to be paid. Eliminating this expense for these buyout firms allows them to pay more.
Tower Capital Auctions also allows originators and companies who have signed options with site owners to auction their options to purchase the lease for the spread between their strike price and the auctions' winning bid (net of the option-auction fee).
The principals of TCA were the founders of one of the country's largest aggregation businesses, which was sold in 2013 for over $85 million. They have raised over $300 million in capital to acquire, pool and sell wireless leases. TCA's wireless lease auction site offers free, confidential registration for both cell site sellers and bidders while providing a robust, secure platform to directly connect sellers with pre-qualified institutional investors.
For more information, contact Tower Capital Advisors at info(at)towercapadvisors(dot)com or by phone at (800) 675-0144. Please visit our websites at http://www.towercapadvisors.com and http://www.towercapauctions.com for more information.
About Tower Capital Advisors: Founded by CEO Michael DeMita after the sale of his last business' portfolio and platform in 2013, TCA is headquarted in Atlanta, Georgia. In 2007, Mr. DeMita founded and became the CEO of Communications Capital Group, now known as TowerPoint Capital. This last business bought, held and sold hundreds of millions of dollars in wireless leases to institutional infrastructure investors and multi-billion dollar private equity firms. TCA focuses on providing advisory and capital raising services and market research data. TCA also provides and services the online auction platform, http://www.towercapauctions.com, dedicated to getting site owners the most money when they sell their wireless lease. For more information, visit http://www.towercapadvisors.com.