Digital Colony Management, LLC (Digital Colony), a global digital infrastructure investment firm, yesterday announced that it has entered into an agreement to acquire Landmark Dividend LLC (LD), a real estate and infrastructure acquisition and development company. LD owns, among other things, 100 percent of the membership interests in the general partner of Landmark Infrastructure Partners LP (NYSE: LMRK) and 13.2 percent of the common units representing limited partner interests in LMRK.
Digital Colony said it intends to submit a proposal to the Landmark Board of Directors to acquire substantially all of the assets. The acquisition, if consummated, would result in the payment of $13.00 per common unit in cash to LMRK’s unaffiliated unit holders in a transaction valuing LMRK at approximately $972 million.
Steven M. Sonnenstein, Senior Managing Director at Digital Colony, said, “The acquisition of LD is our first strategic step to secure a stronger future for LD and its various affiliated entities, including LMRK. We look forward to working with the LD team to advance our shared mission of acquiring and managing critical digital infrastructure assets that deliver quick, reliable and responsive service for customers.”
“As a recognized leader in the digital infrastructure space with a proven track record, we believe the Digital Colony team’s expertise is crucial to advancing our strategy in today’s rapidly evolving market,” said Tim Brazy, Chief Executive Officer at LD. “We are confident this acquisition by Digital Colony will position us to accelerate our pursuit of strategic consolidation in our fragmented industry and drive growth over the long-term.”
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