Source: Global Newswire
EL SEGUNDO, Calif., Sept. 30, 2020 (GLOBE NEWSWIRE) — Landmark Infrastructure Partners LP (the “Partnership” or “Landmark”) (NASDAQ: LMRK) announced today that it has acquired data center sites in the greater Toronto, Ontario and Atlanta, Georgia areas from Sungard Availability Services (“Sungard AS”), a leading provider of cloud connected infrastructure solutions. Landmark is leasing the acquired data center sites back to Sungard AS in their entirety, which combined totals approximately 215,000 square feet and approximately 4 megawatts of critical capacity. The acquisitions were funded by borrowings from the Partnership’s existing revolving credit facility and are expected to be immediately accretive to Landmark’s adjusted funds from operations (“AFFO”).
“We continue to expand our digital infrastructure footprint with the addition of high-quality data center properties to our portfolio, including these recent acquisitions in the key markets of Toronto and Atlanta,” said Tim Brazy, Chief Executive Officer of the Partnership’s general partner. “We have seen attractive acquisition opportunities within the data center space and remain focused on further redeploying capital raised from the recent sale of our European outdoor advertising portfolio.”
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.