Carrington Estate

Lease Acquisition Case Study

Opportunity

  • Carrington Estate was looking for additional funding opportunities and was evaluating various sources of capital. Having a cell tower lease located in a remote part of their property, they sought guidance on how they could better capitalise their asset.
  • Everest collaborated with the Estate’s management, providing insights into the commercial, legal, and procedural implications of selling their cell tower lease.
  • Everest offered a complimentary analysis of the lease and financial appraisals for the potential buyout of the cell tower ground lease.

Everest Solution

  • Everest conducted a thorough yet complimentary analysis of the existing cell tower lease, uncovering multiple overlooked rent reviews. Subsequently, Everest initiated discussions with the tower company to address the rental situation, ensuring that the rent was brought up to date. This, in turn, strengthened Everest’s lump sum offer.
  • Through consultations with Carrington Estate and the tower company, Everest adeptly negotiated a substantial settlement for overdue rent, successfully disbursing the agreed-upon amount to Carrington Estate.
  • Everest managed the acquisition and lease registration process, ultimately securing the rights to the cell tower lease from Carrington Estate.
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“When Everest initially reached out to us, we were in the midst of assessing various new capital streams, making their timing impeccable. Their proposal was not only compelling but was also accompanied by a consultative and helpful approach. Everest played a crucial role in pinpointing a significant underperformance issue within one of our assets and provided valuable guidance on resolving the problem. In fact, Everest was instrumental in negotiating a substantial repayment of unrealized rent.

Upon deciding to work together, Everest ensured clear communication about the entire process, keeping me informed as we navigated through the commercial and legal aspects of the outcome.

For anyone with a cell tower lease, I wholeheartedly endorse Everest. You may uncover insights about your asset that you were previously unaware of!”

— William Tan – Carrington Estate