Digital Colony to Acquire Landmark Dividend LLC
Posted on 05/18/2021
El Segundo, California-based Landmark Dividend LLC is a real estate and infrastructure acquisition and development company. Landmark Dividend owns, among other things, 100% of the membership interests in the general partner of Landmark Infrastructure Partners LP (LMRK) and 13.2% of the common units representing limited partner interests in LMRK. The Partnership owns and manages a portfolio of real property interests and infrastructure assets that the Partnership leases to companies in the wireless communication, digital infrastructure, outdoor advertising and renewable power generation industries.
Affiliates of Digital Colony Management, LLC entered into a definitive agreement to acquire Landmark Dividend. If the deal goes through, it would result in the payment of US$ 13.00 per common unit in cash to LMRK’s unaffiliated unit holders in a transaction valuing LMRK at approximately US$ 972 million.
Digital Colony, a subsidiary of Colony Capital (NYSE:CLNY), is headquartered in Boca Raton with offices in New York, Los Angeles, London and Singapore, and has over 90 investment and operating professionals.
Advisors
TAP Advisors is serving as financial advisor to Digital Colony, and Simpson Thacher & Bartlett LLP is serving as legal advisor to Digital Colony. RBC Capital Markets, LLC is serving as exclusive financial advisor to LD, Latham & Watkins LLP is serving as legal advisor to LD, and Regions Securities LLC, as LD’s existing financing bank, is supporting the transaction.
On March 4, 2021, Landmark Dividend made a data center acquisition in the greater Chicago area from Chirisa Investments.
