Landmark Infrastructure Partners LP and Brookfield Asset Management Form Joint Venture to Invest in Core Infrastructure Assets
Landmark Infrastructure Partners LP - Common Units (LMRK)
Last landmark infrastructure partners lp - common units earnings: 2/27 08:00 am
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Source: GlobeNewswire
EL SEGUNDO, Calif., Sept. 24, 2018 (GLOBE NEWSWIRE) -- Landmark Infrastructure Partners LP (the “Partnership” or “Landmark”) (NASDAQ: LMRK) today announced it has entered into an agreement pursuant to which an affiliate of Brookfield Asset Management Inc. (“Brookfield”) has made a strategic investment with Landmark to form a joint venture (the “JV”) to invest in core infrastructure assets. In the transaction, Landmark contributed a portfolio of assets, including the associated debt, in exchange for an approximate 50 percent interest in the JV and $65.5 million in cash. Landmark plans to use the proceeds from this transaction to reduce its leverage levels and reinvest in assets in its primary industries through its various acquisition and development activities. “We are thrilled to announce our partnership with Brookfield, one of the world’s leading global alternative asset managers and infrastructure investors,” said Tim Brazy, Chief Executive Officer of the Partnership’s general
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