Cell towers and other cellular sites, such as water tanks, building rooftops and church steeples, are generally built on property that wireless carriers lease from individuals, businesses, organizations or government entities. These multi-year ground leases enable carriers to build and maintain their equipment on the property for the period of the lease in exchange for a series of monthly rental payments to the property owner.
Sometimes a property owner decides that instead of smaller monthly rents from their leases, they would prefer to get more of their money faster with a large immediate cash payment for the value of their leases. This is known as a lease buyout or lease acquisition. In this case, the owner of the cellular ground lease sells their ground lease to Crescendo Capital Partners or another lease acquisition company for a price that is mutually agreed upon. They owner continues to have ownership of their property; the cellular tenant continues to have access to and use of their tower. Crescendo Capital Partners assumes the ownership of the leases and the future payment streams of the leases.