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Partners with DigitalBridge to Support the Next Phase of Landmark Dividend's Growth
DigitalBridge Group, Inc. (NYSE:DBRG) ("DigitalBridge") today announced that a wholly owned subsidiary of the Abu Dhabi Investment Authority ("ADIA") will acquire a 40% stake in Landmark Dividend LLC ("Landmark"), a leading acquirer and developer of real estate and infrastructure focused on the wireless communication, digital infrastructure, outdoor advertising, and renewable power industries. The investment includes a significant commitment from ADIA and DigitalBridge-sponsored vehicles to support the continued expansion of Landmark's growth platform.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231101341842/en/
Khadem AlRemeithi, Executive Director of the Infrastructure Department at ADIA, said, "Under DigitalBridge's ownership, Landmark has solidified its position as one of the preeminent acquirers of digital infrastructure real estate assets globally. The company has already built a portfolio of high quality real assets, and our investment aims to support Landmark's next phase of growth."
Steven Sonnenstein, Senior Managing Director at DigitalBridge and Chairman of the Board at Landmark, said, "ADIA's investment in Landmark is testament to the company's long-term potential and attractive position in the market, and we are delighted to partner with ADIA to further fuel Landmark's growth. We are proud of the reputation Landmark has built for excellence in infrastructure and real estate investment, and we look forward to creating more opportunities for Landmark's clients and stakeholders."
Tim Brazy, Chief Executive Officer at Landmark Dividend, said, "We welcome ADIA to Landmark. This investment marks an exciting new phase of growth for our business. With the support of our new stakeholder, alongside DigitalBridge, we are well-prepared to strengthen our position and offer our clients a broader spectrum of top-tier investment solutions."
The transaction will require regulatory approvals and is expected to close in the first half of 2024.
TAP Advisors is serving as financial advisor to DigitalBridge, and Simpson Thacher & Bartlett, LLP is serving as legal advisor to DigitalBridge.
Gibson Dunn is serving as legal advisor to ADIA.
Posted In: DBRG
