Brookfield Asset Management and Landmark Infrastructure Partners have joined forces to invest in core infrastructure assets.
Landmark said as part of the partnership, it has contributed a portfolio of assets, including the associated debt, in exchange for around 50% interest in the joint venture and $65.5m in cash.
Nasdaq-listed Landmark said it 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.
Tim Brazy, the chief executive officer of Landmark Infrastructure Partners’ general partner, said: “Brookfield’s partnership with us speaks to the tremendous opportunities we see in our markets and will leverage the strengths of both parties, allowing us to significantly expand our reach in our core industries.
“This venture is a continuation of our strategy to establish significant partnerships that complement Landmark’s overall business, enhance our leadership position in infrastructure and real estate and further support our acquisition efforts and development initiatives.”
