Atlanta, GA (PRWEB) September 09, 2013
Tower Capital Advisors (TCA) announced the launch of its online auction system towercapauctions.com, to 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 the auction portal, Michael DeMita, CEO and Founder of TCA said “Our auction system will dis-intermediate the sale and purchase process for cell site leases, bringing a market efficient value to property owners who are looking to monetize their cell site lease as well as product to the same buyers and investors who have bought larger pools of these assets. TCA pre-qualifies bidders from among the same institutions that have purchased pools of hundreds of millions of dollars from aggregators in the past, insuring the lowest cost of capital will be brought to the table at auction. TCA is also committed to providing auction site statistics Tower Capital Advisors site, which will allow sellers to get a real-time sense of current market prices and conditions. The information vacuum that has for too long existed in the cell site lease buyout business has allowed aggregation firms to pay significantly less than the assets are worth in secondary sales for years. We at TCA believe it is time for sellers to stop leaving money on the table. The auction process is direct, transparent and a win-win for both the seller and ultimate 'hold' investors.”
The principals of TCA come from the aggregation business, which was recently sold for over $85 million. TCA's CEO has, for over a decade, raised over $300 million in capital to acquire, pool and sell cellular leases. “In addition to the auction model, our history of having purchased, serviced and sold pools of these assets, our ethical and professional backgrounds and excellent relationships with institutional investors, site owners, wireless carriers and tower companies position us uniquely in the wireless lease buyout market.” – Michael added.
TCA cell site 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. TCA also supports sellers and buyers with free advisory services to facilitate the listing of their lease on the auction.
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.towercapauctions.com and http://www.towercapadvisors.com for further details as well.
About Tower Capital Advisors: TCA was founded by CEO Michael DeMita after the sale of his last business' portfolio and platform in 2013. Mr. DeMita was the founder and 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. Based in Atlanta, GA, TCA now focuses on providing advisory and capital raising services, market research data and an online auction platform for making the cell site lease sale process more efficient and transparent. For more information, visit http://www.towercapadvisors.com.