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Ambulance Squad Uses Payment to Fund Capital Improvements

The Newtown Ambulance Squad, a 501c3 organization in northeastern Pennsylvania, provides professional emergency and non-emergency medical transport services. Unison capital enabled the Ambulance Squad to make much-needed capital improvements.

CHALLENGE

The Ambulance Squad cell tower was generating rental income but not nearly enough to cover building improvements and operating expenses the organization needed. “Were satellites going to be the newest technology? We didn’t really know,” said Joe Swerk, President of the Newtown Ambulance Squad. “We needed money for working capital.”

SOLUTION

Unison, the leading firm in the wireless lease acquisition market, was the last to contact him and begin the conversation that resulted in a one-time payment for acquisition of the Newtown Ambulance Squad’s existing lease. New carriers have since installed antennas at the site, and the ambulance squad receives a 50% co-location fee. This equates to several hundred dollars of additional rent each month. “Unison seemed like an ethical, upfront and forthright company. They were very responsive to us, and I would welcome any future discussions with them,” said Swerk.

RESULTS

Influx of working capital

Swerk said the payment from Unison was used to fund capital improvements and operating expenses.

Elimination of uncertainty

Newtown Ambulance Squad doesn’t have to worry about whether their cell site will have carrier tenants in the future. Swerk said that there wasn’t a downside on their end. Unison took all the risk.

New monthly cell site revenue

The Unison Program shared new rental income from a new carrier for the Newtown Ambulance Squad.

Easy negotiations

Negotiations with Unison were friendly and easy, according to Swerk, whose Board of Directors approved the deal.

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