PLEASE UPDATE YOUR BROWSER

1 Reason Agency

Insurance and Real Estate

  • About
    • Meet Our Agents
    • Partner Insurance Companies
  • Personal Insurance
    • Car Insurance Quote for Personal Auto
    • Boat Insurance
    • Home Owners Insurance
    • Life Insurance Quotes
    • Motorcycle Insurance
    • Personal Umbrella Insurance
    • Renters Insurance
    • RV Camper Insurance
    • Snowmobile Insurance
  • Business Insurance
    • Commercial Auto Insurance
    • What is General Liability Insurance
    • Rental or Vacant Properties
    • Workers Compensation in Wisconsin
  • Blog
  • Contact
    • Contribute As Guest Author
  • About
    • Meet Our Agents
    • Partner Insurance Companies
  • Personal Insurance
    • Car Insurance Quote for Personal Auto
    • Boat Insurance
    • Home Owners Insurance
    • Life Insurance Quotes
    • Motorcycle Insurance
    • Personal Umbrella Insurance
    • Renters Insurance
    • RV Camper Insurance
    • Snowmobile Insurance
  • Business Insurance
    • Commercial Auto Insurance
    • What is General Liability Insurance
    • Rental or Vacant Properties
    • Workers Compensation in Wisconsin
  • Blog
  • Contact
    • Contribute As Guest Author
Home > Real Estate News > Landmark Infrastructure Partners LP Announces Completion of $52.5 Million Digital Infrastructure Acquisition

Landmark Infrastructure Partners LP Announces Completion of $52.5 Million Digital Infrastructure Acquisition

Posted on: September 27, 2020 By: Insurance Updates

EL SEGUNDO, Calif., Sept. 28, 2020 (GLOBE NEWSWIRE) — Landmark Infrastructure Partners LP (the “Partnership” or “Landmark”) (NASDAQ: LMRK) announced today that it has completed the acquisition of a data center portfolio in the Midwest from a market leader in web hosting and managed cloud services. The portfolio includes three data center sites totaling approximately 138,000 square feet and a 5.2 megawatt critical capacity that are fully occupied by the tenant under a 15 year net lease. The acquisition was funded by borrowings from the Partnership’s existing revolving credit facility and is expected to be immediately accretive to Landmark’s adjusted funds from operations (“AFFO”).

“We are extremely pleased to announce this acquisition from a national market leader in its industries,” said Tim Brazy, Chief Executive Officer of the Partnership’s general partner. “We believe our Sponsor has built a best-in-class digital infrastructure platform and that effort should continue to benefit the Partnership as it grows its data center portfolio. This purchase represents a partial redeployment of the capital from the recent sale of our European outdoor advertising portfolio and we will continue to look for attractive acquisition opportunities going forward.”

CBRE’s Jordan Thompson and David Saad represented the seller in the transaction.

About Landmark Infrastructure Partners LP

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, renewable power generation and digital infrastructure industries.

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 “believe,” “possible,” “if,” “will,” “expect” and “assuming” and involve risks and uncertainties including, those related to the acquisition of our new data center portfolio, the integration of these assets into our existing asset pool and the benefits of the acquisition to our AFFO. Accordingly, readers should not place undue reliance on forward-looking statements as a prediction of actual results. 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 December 31, 2019, as supplemented by our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC. Any forward-looking statements in this press release are made as of the date of this press release and the Partnership undertakes no obligation to update or revise such forward-looking statements to reflect events or circumstances that occur, or of which the Partnership becomes aware, after the date hereof, unless required by law.

CONTACT: Marcelo Choi
Vice President,
(213) 788-4528
ir@landmarkmlp.com

Comments

comments

Categories: Real Estate News

Categories

  • Bookkeeping
    • Business Taxes
  • Business Marketing
  • Car Insurance
  • Commercial Auto
  • Commercial Insurance
  • Court Cases
  • Cyber Liability Insurance
  • Employment Opportunities
  • Employment Practices
  • Flood Insurance
  • Home Ownership
  • Homeowner's Insurance
  • Insurance Companies
    • Insurance News
  • Insurance Terms
  • Investing
    • Finance & Insurance News
  • Life Insurance
  • Non Emergency Medical Transportation
  • Payroll
  • Pinewood Derby
  • Real Estate News
  • Rental Property Insurance
  • Retirement & Estate Planning
  • RV Insurance
  • Starting A Business
  • Stock Dividends
  • SuiteCRM Insurance CRM
  • Tips & Advice
  • Travel
  • Uncategorized
  • Webhosting
  • Worker's Compensation

Recent Posts

  • Whitestone REIT Announces Fourth Quarter and Year End 2020 Earnings Webcast and Conference Call
  • Duke Realty Reports Fourth Quarter and Full Year 2020 Results
  • Matthew Downs Joins Greystone’s CMBS Team as Managing Director
  • Audience Town Accelerates Growth With Digital Advertising Platform for Real Estate
  • Black Creek Group Announces 2020 Activity and is Well-Positioned Heading into 2021
  • Regency Centers Issues TCFD Climate Change Risk Report and is Recognized for Corporate Responsibility Leadership
  • Trupanion, Inc. Announces Fourth Quarter and Full Year 2020 Earnings Release and Conference Call
  • Progressive Reports December 2020 Results