Akin Gump Counsels Landmark Infrastructure Partners’ Conflict Committee in Two Additional Drop-Down Transactions Totalling $176M

August 30, 2016

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Jacinta O'Shea-Ramdeholl

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Scott Wasserman

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(Houston) – Landmark Infrastructure Partners LP (the “Partnership”) today announced that it has completed two separate acquisitions expected to be immediately accretive to its distributable cash flow. Akin Gump served as legal advisor to the conflicts committee of the Partnership’s board of directors in both transactions.

In the first transaction, the Partnership acquired 392 tenant sites located in 47 states from Landmark Dividend Growth Fund – G LLC (“Fund G”), an affiliate of the Partnership’s sponsor, Landmark Dividend LLC (“Landmark”). Total consideration was $155.7 million, consisting of approximately 3.8 million common units representing limited partner interests in the Partnership, valued at approximately $68.8 million, and approximately $86.9 million in cash, of which approximately $74.6 million was used to repay Fund G’s indebtedness.

In the second transaction, the Partnership acquired 63 tenant sites located in 13 states from Landmark for total consideration of $21.1 million. The Partnership is acquiring these assets with borrowings under its existing revolving credit facility and available cash.

Akin Gump Houston partner in charge and energy partner Christine LaFollette led the deal team, which comprised tax partner Alison Chen, global project finance partner Daniel Sinaiko, energy associates Heather Ashour and Erik Shoemaker, and real estate associates Alex Agahzadeh, Daniel Shlomi and staff attorney Stuart Graves.

These are the 11th and 12th drop-down acquisitions in which Akin Gump has served as legal advisor to the conflicts committee. To learn more about Akin Gump’s representations in these drop-down acquisitions, please click here.

Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.

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