Infrastructure investment firm Digital Colony has announced plans to acquire Landmark Dividend LLC.
Affiliates of Digital Colony this week entered into a definitive agreement to acquire the real estate and infrastructure acquisition and development company. Subject to completion of the Landmark Dividend transaction, Digital Colony also plans to submit a proposal to buy its subsidiary, Landmark Infrastructure Partners LP, which would value the company at around $972 million.
“The acquisition of Landmark Dividend is our first strategic step to secure a stronger future for Landmark Dividend and its various affiliated entities, including Landmark Infrastructure Partners,” said Steven M. Sonnenstein, senior managing director at Digital Colony.
“We look forward to working with the Landmark Dividend team to advance our shared mission of acquiring and managing critical digital infrastructure assets that deliver quick, reliable and responsive service for customers.”
The deal is expected to close in the coming weeks. TAP Advisors, Simpson Thacher & Bartlett LLP, RBC Capital Markets, Latham & Watkins LLP, and Regions Securities LLC assisted in the transaction.
“As a recognized leader in the digital infrastructure space with a proven track record, we believe the Digital Colony team’s expertise is crucial to advancing our strategy in today’s rapidly evolving market,” said Tim Brazy, Landmark Dividend CEO. “We are confident this acquisition by Digital Colony will position us to accelerate our pursuit of strategic consolidation in our fragmented industry and drive growth over the long-term.”
Digital Colony, Colony Capital's digital infrastructure investment arm, recently raised $4.1 billion for its second fund.
Landmark Dividend’s most recent data center deal saw it acquire a third data center from Chirisa Investments in March.
The company and its affiliates have acquired 17 data center assets in the last 12 months in deals totaling more than $400 million.