What is a right of first refusal (ROFR)?

A right of first refusal (ROFR) is a contractual right that gives the holder – usually the cell tower tenant – the right to match the terms of any third-party offer to purchase the lease and/or property. This provision can lower the value of the lease and the property for a variety of reasons, including what is known as the “last-mover advantage”. If you have been presented a proposal that includes a ROFR, you should contact an expert in the telecommunication industry, such as Tower Advantage, to better evaluate your options.