|View printer-friendly version|
Landmark Infrastructure Partners LP Announces Acquisition of Real Property Interests from Sponsor, Landmark Dividend LLC
The Chief Executive Officer of the Partnership’s General Partner, Tim Brazy, said, “We are excited to announce the latest portfolio drop-down acquisition from our sponsor. These drop-down acquisitions bring the Partnership’s 2017 acquisitions to 161 assets for total consideration of approximately
The assets being acquired are not part of the assets subject to the Partnership’s right of first offer (ROFO) with affiliates of Landmark. As of August 31, 2017, assets under management with affiliates of Landmark totaled approximately 870 assets, including more than 620 assets that are subject to our ROFO.
The terms of the acquisition were approved by the Board of Directors of the General Partner of the Partnership and based on the approval and recommendation of the Conflicts Committee comprised entirely of independent directors. The Conflicts Committee was advised by Duff & Phelps Corporation, its financial advisor, and Akin Gump Straus Hauer & Feld LLP, its legal counsel.
The Partnership owns and manages a portfolio of real property interests and infrastructure assets that the Partnership leases to companies in the wireless communication, outdoor advertising and renewable power generation industries. Headquartered in
Cautionary Note Regarding Forward-Looking Statements
Disclosures in this press release contain certain forward-looking statements within the meaning of the federal securities laws. Statements that do not relate strictly to historical or current facts are forward-looking. These statements contain words such as “possible,” “if,” “will,” “expect” and “assuming” and involve risks and uncertainties including, among others that our business plans may change as circumstances warrant. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results. Examples of forward-looking statements in this press release include our expected distribution growth, expected accretion associated with the drop-down transaction and potential acquisitions from Landmark. For more information concerning factors that could cause actual results to differ materially from those conveyed in the forward-looking statements, please refer to the “Risk Factors” section of our Annual Report on Form 10-K for the year ended
Source: Landmark Infrastructure Partners LP