Landmark to pay down revolver debt with joint venture deal proceeds

By Sarah Lizee

Olympia, Wash., Sept. 24 – Landmark Infrastructure Partners LP plans to pay down debt under its revolving credit facility using proceeds from the transaction of its joint venture with an affiliate of Brookfield Asset Management Inc., according to an 8-K filing with the Securities and Exchange Commission.

Under the agreement, Landmark contributed a portfolio of assets, including the associated debt, in exchange for a roughly 50% interest in the joint venture and $65.5 million in cash.

Landmark Infrastructure is an El Segundo, Calif.-based owner and manager of real estate leased to companies in the wireless communication, outdoor advertising and renewable power generation industries.

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