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Real Estate Knowledge Turns Into Relief Opportunity

Building owner Harold Bobrow lends support to fleeing Ukrainian families in honor of his Grandmother. She fled the Ukraine for the US at the age of 8 during political unrest. Harold grew up hearing stories of that struggle and made it his mission to help people in a similar situation.

With years of real estate experience, Harold saw an opportunity to turn his cellular asset into a wonderful story for families in need.

In early July, Symphony Wireless Acquisition Advisor Nick Bocchi worked on a deal in Maplewood, New Jersey. In prospecting this deal, Nick pursued a separate asset across the street. The owner, Harold, was not interested.

Months later, as the Ukrainian crisis took foot, after hearing how smooth & valuable his neighbor’s deal was, Harold saw an opportunity to turn the cell tower he owns into a money-maker for the mission he has taken on.

An Industry Expert for an Industry Opportunity: “Symphony Made Things Easy”

Nick explained the value and simple process of a cell tower lease buyout and a cell site lease. It all starts with sending over copies of the lease, and the Symphony team takes it from there by providing an above-market quote & outlining the terms of the deal with our legal team, and yours.

Signing a contract with Nick & the Symphony pricing and legal team took him about a month but will support the people from his grandmother’s homeland for years to come. Nick and the Symphony team made it easy to establish the easement and complete the buyout:

The tower generated $3,500 in monthly rent and resulted in a $800K buyout which Harold put to good use.

Article Highlights

  • Using Lump Sums Buyouts
  • Building a Tax-Friendly Buyout Options
  • Expertise & Relationships in Telecommunications
  • Industry Knowledge & Value
  • Accommodations for Development Plans

The 1031 exchange he executed with the help and capital from Symphony Wireless enabled him to purchase another building, in which Harold houses Ukrainian refugees free of charge.

A 1031 exchange is a swap of one real estate investment property for another that allows capital gains taxes to be deferred. Simply put, A 1031 exchange is a tax deferral. A property owner can sell a property held for business or investment purposes and swap it for a new one using the full funds of the exchange and deferring the taxes in the short term. Harold wanted to ensure all of the capital from the deal was used to support Ukrainian Refugees.

Top Value – Driving Meaningful Change

Working With People Who Share Your Goals

Harold Bobrow says that Symphony made a difference because the people he dealt with cared about why he wanted to complete the 1031 exchange. That’s a “great trait for people who are working for your company,” he said. “You all [Symphony] have done more than you know.”

What can you do to learn where you stack up and if you are missing out on opportunities to protect or better grow your rent?

Partner with an expert. We at Symphony have been in the wireless industry for decades and are leading investors in cell site leases across the country. It is our business to know the value and risk profile of cell sites. We will assess your site for current risk and future potential value and come up with an investment plan that best suits your interests or needs. Our assessment should help provide you with a reliable view as to how your site fits in with the expected future of the cell site grid. And it just might be the opportunity you were looking for to capitalize on your cell site rent stream.

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