lmrk-10q_20200630.htm

Total land and real property interests

41,655

49,116

^[1]

669,139

665,855

^[1]

Accumulated depreciation and amortization of real property interests

(55,860)

(48,995)

^[1]

Land and net real property interests

613,279

616,860

^[1]

Investments in receivables, net

5,380

5,653

^[1]

Investment in unconsolidated joint venture

62,062

62,059

^[1]

Cash and cash equivalents

6,409

5,885

^[1]

Restricted cash

3,103

5,619

^[1]

Rent receivables

2,948

3,673

^[1]

Due from Landmark and affiliates

2,058

1,132

^[1]

Deferred loan costs, net

4,051

4,557

^[1]

Deferred rent receivable

1,492

1,548

^[1]

Other intangible assets, net

20,661

21,936

^[1]

Assets held for sale (AHFS)

^[1]

114,400

Right-of-use asset, net

6,500

6,615

^[1]

Other assets

7,451

5,668

^[1]

Total assets

735,394

855,605

^[1]

Liabilities and equity

Accounts payable and accrued liabilities

58,000

179,500

^[1]

Secured notes, net

278,377

217,098

^[1]

4,837

3,842

^[1]

Other intangible liabilities, net

6,826

7,583

^[1]

Liabilities associated with AHFS

^[1]

64,627

Operating lease liability

6,723

6,766

^[1]

Prepaid rent

5,758

5,391

^[1]

Derivative liabilities

3,908

1,474

^[1]

Total liabilities

364,429

486,281

^[1]

Commitments and contingencies (Note 16)

^[1]

Equity

Accumulated other comprehensive income (loss)

(1,281)

^[1]

Total partners' equity

323,055

321,457

^[1]

Noncontrolling interests

201

^[1]

Total liabilities, mezzanine equity and equity

323,256

321,658

^[1]

735,394

855,605

^[1]

Limited Partners | Preferred Units Series C

Mezzanine equity

Limited Partners | Preferred Units Series A

47,709

47,666

^[1]

Equity

Limited Partners | Preferred Units Series B

40,785

40,210

^[1]

Equity

63,014

60,926

^[1]

Limited Partners | Common Units

63,014

60,926

Equity

380,860

382,581

^[1]

380,860

382,581

Equity

(160,323)

(162,277)

^[1]

Preferred units issued (in shares)

$ (160,323)

$ (162,277)

[1]

CONSOLIDATED BALANCE SHEETS (Parenthetical) - Limited Partners - shares

Jun. 30, 2020

Dec. 31, 2019

^[1]

Preferred Units Series C

Temporary equity, preferred units

1,982,700,000

1,988,700,000

Preferred units outstanding (in shares)

1,982,700,000

1,988,700,000

Preferred Units Series A

Preferred units

Preferred units issued (in shares)

1,745,328,000

1,722,041,000

Preferred units outstanding (in shares)

1,745,328,000

1,722,041,000

Preferred Units Series B

Preferred units

Preferred units issued (in shares)

2,628,932,000

2,544,793,000

Preferred units outstanding (in shares)

2,628,932,000

2,544,793,000

Common Units

Common and subordinated units

Units issued (in shares)

25,478,042,000

25,353,140,000

Units outstanding (in shares)

25,478,042,000

25,353,140,000

[1]

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Revenue

^[1]

$ 13,844

$ 13,687

$ 27,665

$ 26,902

Expenses

General and administrative

^[1]

354

270

863

856

^[1]

1,223

1,455

2,711

2,924

Acquisition-related

^[1]

162

204

^[1]

4,301

3,259

7,903

6,615

^[1]

102

184

204

Interest and other income

^[1]

6,066

5,146

11,752

10,803

Other income and expenses

^[1]

112

271

446

Interest expense

^[1]

(4,393)

(4,655)

(8,691)

(9,142)

Loss on early extinguishment of debt

^[1]

(2,231)

Unrealized loss on derivatives

^[1]

(481)

(3,570)

(6,684)

(5,728)

Equity income from unconsolidated joint venture

^[1]

687

164

837

109

Gain on sale of real property interests

11,673

^[1]

15,723

17,535

^[1]

Income from continuing operations before income tax expense (benefit)

^[1]

(4,091)

3,724

(16,498)

3,220

^[1]

3,687

12,265

(585)

19,319

Income tax expense (benefit)

^[1]

(90)

3,112

(335)

3,122

^[1]

3,777

9,153

(250)

16,197

^[1]

14,856

112

17,511

278

Less: Net income attributable to noncontrolling interest

^[1]

18,633

9,265

17,261

16,475

^[1]

Net income attributable to limited partners

^[1]

18,625

9,257

17,245

16,459

Less: Distributions declared to preferred unitholders

^[1]

(3,037)

(3,021)

(6,097)

(5,915)

Less: General partner's incentive distribution rights

^[1]

(197)

(394)

Less: Accretion of Series C preferred units

(96)

(94)

(193)

(450)

Income (loss) from continuing operations per common unit

^[1]

$ 15,492

$ 5,945

$ 10,955

$ 9,700

Common units – basic

^[1]

$ 0.02

$ 0.23

$ (0.26)

$ 0.37

Common units – diluted

^[1]

0.02

0.23

(0.26)

0.37

Net income per common unit

Common units – basic

^[1]

0.61

0.23

0.43

0.38

Common units – diluted

^[1]

$ 0.61

$ 0.23

$ 0.43

$ 0.38

Weighted average common units outstanding

Common units – basic

^[1]

25,476

25,339

25,468

25,338

Common units – diluted

^[1]

25,476

25,339

25,468

25,338

Cash distributions declared per common unit

^[1]

$ 0.2000

$ 0.3675

$ 0.4000

$ 0.7350

Preferred Units Series C

Other income and expenses

Less: Accretion of Series C preferred units

^[1]

$ (96)

$ (94)

$ (193)

$ (450)

[1]

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Statement Of Income And Comprehensive Income [Abstract]

^[1]

$ 18,633

$ 9,265

$ 17,261

$ 16,475

Other comprehensive income (loss):

Reclassification adjustments of other comprehensive losses to gain on sale included in net income

2,481

(2,415)

(5,650)

(672)

4,352

Other comprehensive income (loss):

6,833

(2,415)

(1,298)

(672)

Comprehensive income

25,466

6,850

15,963

15,803

Less: Comprehensive income attributable to noncontrolling interest

Comprehensive income attributable to limited partners

$ 25,458

$ 6,842

$ 15,947

$ 15,787

[1]

CONSOLIDATED STATEMENTS OF EQUITY AND MEZZANINE EQUITY - USD ($)
$ in Thousands

Total

Preferred Units Series C

Limited Partners

Common Units

Limited Partners

Preferred Units Series A

Limited Partners

Preferred Units Series B

Limited Partners

Preferred Units Series C

General Partner

Accumulated Other Comprehensive Income (loss)

Noncontrolling Interest

Balance at Dec. 31, 2018

$ 337,677

$ 411,158

$ 37,207

$ 58,936

$ (167,019)

$ (2,806)

$ 201

Balance (in units) at Dec. 31, 2018

25,327,801

1,593,149

2,463,015

2,000,000

1,743

(11,494)

$ (9,312)

$ (788)

$ (1,189)

(197)

(8)

Other deemed contributions

994

197

Unit-based compensation

130

$ 130

Unit-based compensation (in units)

10,000

Balance (in units) at Mar. 31, 2019

5,937

$ 3,755

788

1,189

197

Balance at Mar. 31, 2019

335,184

$ 405,731

$ 37,207

$ 58,936

(165,828)

(1,063)

201

25,338,000

1,593,000

2,463,000

Temporary equity, Balance at Dec. 31, 2018

$ 47,308

(917)

Temporary equity, Balance at Mar. 31, 2019

1,273

$ 47,664

Balance at Dec. 31, 2018

337,677

$ 411,158

$ 37,207

$ 58,936

(167,019)

(2,806)

201

Balance (in units) at Dec. 31, 2018

25,327,801

1,593,149

2,463,015

2,000,000

Other deemed contributions

$ 5

394

Balance at Jun. 30, 2019

333,636

$ 402,369

$ 38,466

$ 60,575

(164,497)

(3,478)

201

Balance (in units) at Jun. 30, 2019

25,338,692

1,649,800

2,529,749

1,999,800

Temporary equity, Balance at Dec. 31, 2018

$ 47,308

Temporary equity, Balance at Jun. 30, 2019

$ 47,752

Balance at Mar. 31, 2019

335,184

$ 405,731

$ 37,207

$ 58,936

(165,828)

(1,063)

201

Balance (in units) at Mar. 31, 2019

25,338,000

1,593,000

2,463,000

Issuance of Units, net (in units)

(2,415)

57,000

67,000

Issuance of Preferred Units, net

2,898

$ 1,259

$ 1,639

Conversion of Preferred Units, net (in units)

$ 5

1,000

(11,606)

$ (9,312)

(829)

(1,260)

(197)

(8)

Other deemed contributions

1,134

197

Balance (in units) at Jun. 30, 2019

8,239

5,945

829

1,260

197

Balance at Jun. 30, 2019

333,636

$ 402,369

$ 38,466

$ 60,575

(164,497)

(3,478)

201

25,338,692

1,649,800

2,529,749

1,999,800

Temporary equity, Balance at Mar. 31, 2019

$ 47,664

Temporary equity, Conversion of Preferred Units, net

(5)

(933)

Temporary equity, Balance at Jun. 30, 2019

1,026

$ 47,752

Balance at Dec. 31, 2019

321,658

^[1]

$ 382,581

$ 40,210

$ 60,926

(162,277)

201

Balance (in units) at Dec. 31, 2019

25,353,140

1,722,041

2,544,793

1,988,700

Adoption of ASU 2016-13 | ASU 2016-13

(76)

Issuance of Common Units, net

(8,131)

1,510

$ 1,510

Issuance of Units, net (in units)

110,000

23,000

84,000

Issuance of Preferred Units, net

2,663

$ 575

$ 2,088

(11,558)

$ (9,360)

(871)

(1,319)

(8)

Unit-based compensation (in units)

1,101

Unit-based compensation

120

$ 120

7,000

Balance (in units) at Mar. 31, 2020

(2,339)

$ (4,537)

871

1,319

Balance at Mar. 31, 2020

304,948

$ 370,314

$ 40,785

$ 63,014

(161,252)

(8,114)

201

25,470,000

1,745,000

2,629,000

Temporary equity, Balance at Dec. 31, 2019

$ 47,666

(870)

Temporary equity, Balance at Mar. 31, 2020

967

$ 47,763

Balance at Dec. 31, 2019

321,658

^[1]

$ 382,581

$ 40,210

$ 60,926

(162,277)

201

Balance (in units) at Dec. 31, 2019

25,353,140

1,722,041

2,544,793

1,988,700

Balance (in units) at Jun. 30, 2020

$ 150

Balance at Jun. 30, 2020

323,256

$ 380,860

$ 40,785

$ 63,014

(160,323)

(1,281)

201

25,478,042

1,745,328

2,628,932

1,982,700

Temporary equity, Balance at Dec. 31, 2019

$ 47,666

Temporary equity, Balance at Jun. 30, 2020

$ 47,709

Balance at Mar. 31, 2020

304,948

$ 370,314

$ 40,785

$ 63,014

(161,252)

(8,114)

201

Balance (in units) at Mar. 31, 2020

25,470,000

1,745,000

2,629,000

6,833

Conversion of Preferred Units, net (in units)

150

$ 150

8,000

(7,275)

$ (5,096)

$ (873)

$ (1,298)

(8)

929

Balance (in units) at Jun. 30, 2020

17,671

15,492

873

1,298

Balance at Jun. 30, 2020

$ 323,256

$ 380,860

$ 40,785

$ 63,014

$ (160,323)

$ (1,281)

$ 201

25,478,042

1,745,328

2,628,932

1,982,700

Temporary equity, Balance at Mar. 31, 2020

$ 47,763

Temporary equity, Conversion of Preferred Units, net

(150)

(866)

Temporary equity, Balance at Jun. 30, 2020

962

$ 47,709

[1]

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Dec. 31, 2019

Operating activities

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

^[1]

$ 18,633

$ 9,265

$ 17,261

$ 16,475

Unit-based compensation

120

130

Unrealized loss on derivatives

8,483

6,775

Loss on early extinguishment of debt

^[1]

2,231

Depreciation and amortization expense

8,439

6,973

Amortization of above- and below- market lease, net

(200)

(481)

(438)

Amortization of deferred loan costs

1,020

1,342

Amortization of discount on secured notes

185

186

Receivables interest accretion

(6)

$ (9)

Gain on sale of real property interests

^[1]

102

184

204

(11,673)

^[1]

(15,723)

(17,535)

^[1]

Adjustment for uncollectible accounts

150

Equity income from unconsolidated joint venture

^[1]

(687)

(164)

(837)

(109)

Return on investment in unconsolidated joint venture

925

2,583

Foreign currency transaction (gain) loss

(2,635)

Changes in operating assets and liabilities:

Rent receivables

1,650

211

Accounts payable and accrued liabilities

1,308

3,650

Deferred rent

377

269

Prepaid rent

(1,059)

Due to (from) Landmark and affiliates

(893)

Other assets

(1,679)

(2,940)

Net cash provided by operating activities

20,096

16,883

Investing activities

Acquisition of land

(8,660)

Acquisition of real property interests and development activities

(7,684)

(33,481)

Proceeds from sale of real property interests

120,405

45,109

Repayments of receivables

243

274

Net cash provided by investing activities

112,964

3,242

Financing activities

Proceeds from the issuance of Common Units, net

1,510

Proceeds from the issuance of Preferred Units, net

2,663

2,898

Proceeds from revolving credit facility

7,000

43,139

Proceeds from the issuance of secured notes

170,000

Principal payments on revolving credit facility

(179,343)

(31,500)

Principal payments on secured notes

(109,713)

(3,311)

Payments on finance leases

(26)

Payments on settlement of derivatives

(7,565)

Deferred loan costs

(1,938)

(230)

Capital contribution to fund general and administrative expense reimbursement

1,997

1,757

Distributions to non-controlling interests

(16)

Net cash used in financing activities

(136,012)

(11,750)

Effect of changes in foreign currency exchange rates on cash, cash equivalents and restricted cash

(601)

(21)

Net increase (decrease) in cash, cash equivalents and restricted cash

(3,553)

8,354

Cash, cash equivalents and restricted cash at beginning of the period

13,065

7,780

Cash, cash equivalents and restricted cash at end of the period

$ 9,512

$ 16,134

9,512

16,134

$ 13,065

Limited Partners | Preferred Units

Financing activities

Distributions to limited partners

(6,125)

(5,863)

Limited Partners | Common Units

Financing activities

Distributions to limited partners

$ (14,456)

$ (18,624)

[1]

Business

6 Months Ended

Jun. 30, 2020

Limited Liability Company Or Limited Partnership Business Organization And Operations [Abstract]

Organization And Formation Transactions Text Block

1. Business

Basis of Presentation and Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2020

Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

2. Basis of Presentation and Summary of Significant Accounting Policies

Basis of Presentation and Principles of Consolidated Financial Statements

Use of Estimates

Income Taxes

Investment in Unconsolidated Joint Venture

Discontinued Operations

Recently Issued Accounting Standards

Acquisitions and Developments

6 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Acquisitions and Developments

3. Acquisitions and Developments

Third Party Acquisitions

The following table presents direct third-party acquisitions completed by the Partnership during the six months ended June 30, 2020 and for the year ended December 31, 2019.

	No. of Tenant Sites										Consideration (in millions)
Acquisition Description	Wireless Communication		Outdoor Advertising		Renewable Power Generation		Digital Infrastructure		Total		Borrowings and Available Cash		Total
First Quarter
International		—		1		—		—		1	$	0.1	$	0.1
Second Quarter
International		6		—		—		—		6	$	1.3	$	1.3
Total		6		—		—		—		6	$	1.3	$	1.3
2020 Total		6		1		—		—		7	$	1.4	$	1.4
First Quarter
International		—		104		—		—		104	$	6.0	$	6.0
Total		—		104		—		—		104	$	6.0	$	6.0
Second Quarter
International		—		7		—		—		7	$	6.7	$	6.7
Domestic		—		—		8		—		8		0.4		0.4
Total		—		7		8		—		15	$	7.1	$	7.1
Third Quarter
International		—		10		—		—		10	$	3.8	$	3.8
Domestic		1		—		—		—		1		0.3		0.3
Total		1		10		—		—		11	$	4.1	$	4.1
Fourth Quarter
International		1		13		—		—		14	$	10.5	$	10.5
Domestic		—		—		—		2		2		24.3		24.3
Total		1		13		—		2		16	$	34.8	$	34.8
2019 Total		2		134		8		2		146	$	52.0	$	52.0

Leases

The following table illustrates information about other lease related balances as of June 30, 2020 (in thousands):

Operating leases:
Right-of-use asset	$	6,500
Operating lease liability		6,723

Finance leases:
Right-of-use asset ⁽¹⁾	$	1,147

(1)	Assets held under finance leases are recorded in Real property interests and are depreciated over the lease term.

The following table represents the future minimum ground lease payments as of June 30, 2020 (in thousands):

	Operating Lease
2020 (six months)	$	175
2021		356
2022		365
2023		377
2024		386
Thereafter		10,832
Total future payments		12,491
Discount		(5,768	)
Total lease liability	$	6,723

Developments

Real Property Interests

6 Months Ended

Jun. 30, 2020

Other Intangible Assets And Liabilities [Abstract]

Real Property Interests

4. Real Property Interests

The following table summarizes the Partnership’s real property interests. Prior period amounts have been revised to exclude discontinued operations (in thousands):

	June 30, 2020			December 31, 2019
Land	$	107,455		$	107,558

Real property interests – perpetual		101,651			151,999
Real property interests – finite life		417,231			356,704
Real property interests – ROU asset finance lease		1,147			478
Total real property interests		520,029			509,181
Construction in progress		41,655			49,116
Total land and real property interests		669,139			665,855
Accumulated depreciation and amortization of real property interests		(55,860	)		(48,995	)
Land and net real property interests	$	613,279		$	616,860

Sales

On June 17, 2020, the Partnership completed the sale of its interest in the consolidated joint venture that holds its European outdoor advertising portfolio for a purchase price of £95 million. We recognized a gain on sale of real property interest of $15.7 million upon completion of the sale. The sale of the European outdoor advertising portfolio has met the criteria as discontinued operations. Accordingly, for all prior periods presented, the related assets and liabilities are presented as assets and liabilities held for sale on the consolidated balance sheets, as described below, and the related operating results and gain on sale are presented as income from discontinued operations on the consolidated statement of operations for all periods presented (Note 8).

Purchase Price Allocation

			Investments in		In-place		Above-market		Below-market
			real property		lease		lease		lease			ROU		Lease
Period	Land		interests		intangibles		intangibles		intangibles			Asset		liability			Total
2020	$	—	$	770	$	40	$	—	$	—		$	675	$	—		$	1,485
2019	$	11,813	$	17,154	$	5,730	$	86	$	(113	)	$	21,570	$	(1,640	)	$	54,600

2020 (six months)	$	6,315
2021		12,632
2022		12,169
2023		10,776
2024		10,681
Thereafter		309,945
Total	$	362,518

The weighted average remaining depreciation and amortization period for non‑perpetual real property interests is 39 years as of June 30, 2020.

Impairments

Assets and Liabilities Held for Sale

The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are as follows (in thousands):

	December 31, 2019
Land	$	34,714
Real property interests, net		33,127
Construction in progress		19,791
Investments in receivables, net		3,169
Cash and cash equivalents		1,561
Rent receivables		1,432
Deferred rent receivable		4,628
Other intangible assets, net		2,030
Right-of-use asset, net		4,743
Other assets		9,205
AHFS	$	114,400
Revolving credit facility	$	53,407
Accounts payable and accrued liabilities		4,756
Other intangible liabilities, net		23
Operating lease liability		3,502
Finance lease liability		908
Prepaid rent		356
Derivative liabilities		1,675
Liabilities associated with AHFS	$	64,627

Other Intangible Assets and Liabilities

6 Months Ended

Jun. 30, 2020

Other Intangible Assets and Liabilities

5. Other Intangible Assets and Liabilities

	June 30, 2020			December 31, 2019
Acquired in-place lease
Gross amount	$	26,773		$	26,741
Accumulated amortization		(8,961	)		(7,934	)
Net amount	$	17,812		$	18,807
Acquired above-market leases
Gross amount	$	6,547		$	6,550
Accumulated amortization		(3,698	)		(3,421	)
Net amount	$	2,849		$	3,129
Total other intangible assets, net	$	20,661		$	21,936
Acquired below-market leases
Gross amount	$	(16,777	)	$	(16,778	)
Accumulated amortization		9,951			9,195
Total other intangible liabilities, net	$	(6,826	)	$	(7,583	)

Future aggregate amortization of intangibles for each of the five succeeding fiscal years and thereafter as of June 30, 2020 follows (in thousands):

	Acquired in-place leases		Acquired above-market leases		Acquired below-market leases
2020 (six months)	$	1,016	$	259	$	(746	)
2021		1,981		426		(1,375	)
2022		1,901		343		(1,252	)
2023		1,624		308		(809	)
2024		1,511		284		(719	)
Thereafter		9,779		1,229		(1,925	)
Total	$	17,812	$	2,849	$	(6,826	)

Investments in Receivables

6 Months Ended

Jun. 30, 2020

Notes Receivable Net [Abstract]

Investments in Receivables

6. Investments in Receivables

The following table reflects the activity in investments in receivables (in thousands). Prior period amounts have been revised to exclude discontinued operations (in thousands):

	June 30, 2020			December 31, 2019
Investments in receivables – beginning	$	5,653		$	15,236
Adoption of ASU 2016-13		(53	)		—
Sales		—			(8,331	)
Other		—			(742	)
Repayments		(220	)		(519	)
Interest accretion		—			9
Investments in receivables – ending	$	5,380		$	5,653

Annual amounts due as of June 30, 2020, are as follows (in thousands):

2020 (six months)	$	524
2021		1,043
2022		1,157
2023		1,260
2024		1,316
Thereafter		5,476
Total	$	10,776
Interest	$	5,396
Principal		5,380
Total	$	10,776

Investment in Unconsolidated Joint Venture

6 Months Ended

Jun. 30, 2020

Equity Method Investments And Joint Ventures [Abstract]

Investment in Unconsolidated Joint Venture

7. Investment in Unconsolidated Joint Venture

The following table summarizes balance sheet information for the unconsolidated JV (in thousands):

	June 30, 2020		December 31, 2019
Total assets	$	252,310	$	255,157

Total liabilities		125,760		127,611
Total equity		126,550		127,546
Total liabilities and equity	$	252,310	$	255,157

The following table summarizes financial information for the unconsolidated JV (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Rental revenue	$	3,555	$	3,636	$	7,130	$	7,143
Net income		1,374		328		1,674		217
Partnership's share in net income		687		164		837		109
Distributions declared to the Partnership		250		1,101		925		2,583

Debt

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Debt

9. Debt

The following table summarizes the Partnership’s debt. Prior period amounts have been revised to exclude discontinued operations (in thousands):

		Outstanding Balance
	Maturity Date	June 30, 2020			December 31, 2019
Revolving credit facility	November 15, 2023	$	58,000		$	179,500

4.38% senior secured notes	June 30, 2036	$	38,877		$	39,945
Series 2019-1 Class A 3.90%	January 14, 2027		170,000			—
Series 2017-1 Class A 4.10%	November 15, 2022 ⁽¹⁾		57,933			59,124
Series 2017-1 Class B 3.81%	November 15, 2022 ⁽¹⁾		16,994			17,172
Series 2016-1 Class A 3.52%	June 1, 2021⁽²⁾		—			82,175
Series 2016-1 Class B 7.02%	June 1, 2021⁽²⁾		—			25,100
Secured Notes			283,804			223,516
Discount on Secured Notes			(893	)		(1,081	)
Deferred loan costs			(4,534	)		(5,337	)
Secured Notes, net		$	278,377		$	217,098

(1)	Maturity date reflects anticipated repayment date; final legal maturity is November 15, 2047.

(2)	Maturity date reflects anticipated repayment date; final legal maturity is July 15, 2046.

Revolving Credit Facility

Secured Notes

The Secured Notes’ annual principal payment amounts due as of June 30, 2020, are as follows (in thousands):

2020 (six months)	$	2,626
2021		5,987
2022 ⁽¹⁾		72,440
2023		6,812
2024		7,150
Thereafter ⁽¹⁾		188,789
Total	$	283,804

(1)	Reflects anticipated repayment dates

Interest Expense

Interest Rate Swap Agreements

6 Months Ended

Jun. 30, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Interest Rate Swap Agreements

10. Interest Rate Swap Agreements

Date	Notional		Fixed				Effective	Maturity	Fair Value Liability at
Entered	Value		Rate			Index	Date	Date	June 30, 2020			December 31, 2019
August 24, 2015⁽¹⁾	$	50,000		1.74	%	1-month USD LIBOR	10/1/2015	10/1/2022	$	—		$	(264	)
March 23, 2016⁽¹⁾		50,000		1.67		1-month USD LIBOR	12/24/2018	12/24/2021		—			(113	)
March 31, 2016⁽¹⁾		20,000		1.56		1-month USD LIBOR	12/24/2018	12/24/2021		—			(4	)
March 31, 2016⁽¹⁾		25,000		1.63		1-month USD LIBOR	4/13/2019	4/13/2022		—			(48	)
June 12, 2017		50,000		2.10		1-month USD LIBOR	3/2/2018	9/2/2024		(3,908	)		(1,045	)
									$	(3,908	)	$	(1,474	)

(1)	In connection with the sale of the European outdoor advertising portfolio, the Partnership used proceeds from the sale to terminate existing swaps.

		Sensitivity of the Fair Value to Changes in Interest Rates
Date Entered	Maturity Date	+50 Basis Points			-50 Basis Points			+100 Basis Points			-100 Basis Points
June 12, 2017	9/2/2024		(3,021	)		(5,145	)		(1,995	)		(6,245	)

Equity

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Equity

11. Equity

The table below summarizes changes in the number of units outstanding (in units):

							Mezzanine Equity -
			Series A		Series B		Series C
	Common		Preferred		Preferred		Preferred
Balance as of December 31, 2018		25,327,801		1,593,149		2,463,015		2,000,000
Conversion of Series C Preferred Units		260		—		—		(200	)
Issuance under ATM Programs		—		56,651		66,734		—
Unit-based compensation		10,631		—		—		—
Balance as of June 30, 2019		25,338,692		1,649,800		2,529,749		1,999,800

Balance as of December 31, 2019		25,353,140		1,722,041		2,544,793		1,988,700
Conversion of Series C Preferred Units		7,810		—		—		(6,000	)
Issuance under ATM Programs		109,724		23,287		84,139		—
Unit-based compensation		7,368		—		—		—
Balance as of June 30, 2020		25,478,042		1,745,328		2,628,932		1,982,700

Common Units

Preferred Units

The Common Units ATM programs, the Series A ATM programs and the Series B ATM programs described above are collectively referred to the “ATM Programs.”

Mezzanine Equity

Distributions

The table below summarizes the quarterly distributions related to our quarterly financial results:

					Total
			Distribution		Distribution
Quarter Ended	Declaration Date	Distribution Date	Per Unit		(in thousands)
Common Units and IDRs
June 30, 2019 ⁽¹⁾	July 19, 2019	August 14, 2019	$	0.3675	$	9,312
September 30, 2019 ⁽¹⁾	October 25, 2019	November 14, 2019		0.3675		9,317
December 31, 2019 ⁽¹⁾	January 24, 2020	February 14, 2020		0.3675		9,360
March 31, 2020	April 21, 2020	May 15, 2020		0.2000		5,096
June 30, 2020	July 24, 2020	August 14, 2020		0.2000		5,096
Series A Preferred Units
June 30, 2019	June 20, 2019	July 15, 2019	$	0.5000	$	828
September 30, 2019	September 20, 2019	October 15, 2019		0.5000		837
December 31, 2019	December 20, 2019	January 15, 2020		0.5000		861
March 31, 2020	March 20, 2020	April 15, 2020		0.5000		873
June 30, 2020	June 19, 2020	July 15, 2020		0.5000		873
Series B Preferred Units
June 30, 2019	July 19, 2019	August 15, 2019	$	0.4938	$	1,257
September 30, 2019	October 22, 2019	November 15, 2019		0.4938		1,257
December 31, 2019	January 23, 2020	February 18, 2020	0.4938			1,298
March 31, 2020	April 20, 2020	May 15, 2020	0.4938			1,298
June 30, 2020	July 22, 2020	August 17, 2020	0.4938			1,298
Series C Preferred Units
June 30, 2019	July 19, 2019	August 15, 2019	$	0.4510	$	902
September 30, 2019	October 22, 2019	November 15, 2019		0.4375		870
December 31, 2019	January 23, 2020	February 18, 2020	0.4375			870
March 31, 2020	April 20, 2020	May 15, 2020	0.4375			867
June 30, 2020	July 22, 2020	August 17, 2020	0.4375			867

(1)	The General Partner irrevocably waived its right to receive the incentive distribution and incentive allocations for the respective quarterly distribution.

Net Income (Loss) Per Limited Partner Unit

6 Months Ended

Jun. 30, 2020

Earnings Per Unit [Abstract]

Net Income (Loss) Per Limited Partner Unit

12. Net Income (Loss) Per Limited Partner Unit

The calculation of the undistributed net income (loss) attributable to common unitholders for the three and six months ended June 30, 2020 and 2019 is as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Income (loss) from continuing operations	$	3,777		$	9,153		$	(250	)	$	16,197
Less: Net income attributable to noncontrolling interest		8			8			16			16
Income (loss) from continuing operations attributable to limited partners		3,769			9,145			(266	)		16,181
Income from discontinued operations, net of tax		14,856			112			17,511			278
Net income attributable to limited partners		18,625			9,257			17,245			16,459
Less:
Distributions declared on Preferred Units		(3,037	)		(3,021	)		(6,097	)		(5,915	)
General partner's incentive distribution rights ⁽¹⁾		—			(197	)		—			(394	)
Accretion of Series C preferred units		(96	)		(94	)		(193	)		(450	)
Net income attributable to common unitholders		15,492			5,945			10,955			9,700
Distributions declared on common units		(5,096	)		(9,312	)		(10,192	)		(18,624	)
Undistributed net income (loss)		10,396			(3,367	)		763			(8,924	)
Undistributed income from discontinued operations		14,856			112			17,511			278
Undistributed loss from continuing operations	$	(4,460	)	$	(3,479	)	$	(16,748	)	$	(9,202	)

(1)

The calculation of net income per common unit for the three months ended June 30, 2020 and 2019 is as follows (in thousands, except per unit data):

	Three Months Ended June 30,
	2020			2019
Distributions declared	$	5,096		$	9,312
Undistributed net loss from continuing operations		(4,460	)		(3,479	)
Income from continuing operations attributable to common units - basic		636			5,833
Income from discontinued operations attributable to common units - basic		14,856			112
Net income attributable to common units - basic		15,492			5,945
Income from continuing operations attributable to common units - diluted		636			5,833
Income from discontinued operations attributable to common units - diluted		14,856			112
Net income attributable to common units - diluted	$	15,492		$	5,945
Weighted-average units outstanding:
Basic		25,476			25,339
Diluted		25,476			25,339
Income from continuing operations per common unit:
Basic	$	0.02		$	0.23
Diluted⁽¹⁾	$	0.02		$	0.23
Income (loss) from discontinued operations per common unit:
Basic	$	0.58		$	—
Diluted⁽¹⁾	$	0.58		$	—
Net income per common unit:
Basic	$	0.61		$	0.23
Diluted⁽¹⁾	$	0.61		$	0.23

(1)

The calculation of net income per common unit for the six months ended June 30, 2020 and 2019 is as follows (in thousands, except per unit data):

	Six Months Ended June 30,
	2020			2019
Distributions declared	$	10,192		$	18,624
Undistributed net loss from continuing operations		(16,748	)		(9,202	)
Income (loss) from continuing operations attributable to common units - basic		(6,556	)		9,422
Income from discontinued operations attributable to common units - basic		17,511			278
Net income attributable to common units - basic		10,955			9,700
Income (loss) from continuing operations attributable to common units - diluted		(6,556	)		9,422
Income from discontinued operations attributable to common units - diluted		17,511			278
Net income attributable to common units - diluted	$	10,955		$	9,700
Weighted-average units outstanding:
Basic		25,468			25,338
Diluted		25,468			25,338
Income (loss) from continuing operations per common unit:
Basic	$	(0.26	)	$	0.37
Diluted⁽¹⁾	$	(0.26	)	$	0.37
Income from discontinued operations per common unit:
Basic	$	0.69		$	0.01
Diluted⁽¹⁾	$	0.69		$	0.01
Net income per common unit:
Basic	$	0.43		$	0.38
Diluted⁽¹⁾	$	0.43		$	0.38

(1)

Diluted earnings per unit takes into account the potential dilutive effect of common units that could be issued by the Partnership in conjunction with the Series C Preferred Units conversion features. Potential common unit equivalents are anti-dilutive for the six months ended June 30, 2020 and 2019 and, as a result, have been excluded in the determination of diluted earnings per common unit.

Fair Value of Financial Instruments

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

13. Fair Value of Financial Instruments

	June 30, 2020				December 31, 2019
	Carrying amount		Fair Value		Carrying amount		Fair Value
Investment in receivables, net	$	5,380	$	5,396	$	5,653	$	5,650
Revolving credit facility		58,000		58,000		179,500		179,500
Secured Notes, net		278,377		278,929		217,098		221,577

		June 30, 2020				December 31, 2019
Derivative Liabilities ⁽¹⁾		$	3,908			$	1,474

(1)

Related-Party Transactions

6 Months Ended

Jun. 30, 2020

Related-Party Transactions

14. Related‑Party Transactions

General and Administrative Reimbursement

Patent License Agreement

Secured Tenant Site Assets’ Management Fee

Acquisition of Real Property Interests

Incentive Distribution Rights

Due from Affiliates

Segment Information

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

15. Segment Information

The statements of operations for the reportable segments are as follows:

For the three months ended June 30, 2020 (in thousands):

					Renewable
	Wireless		Outdoor		Power		Digital
	Communication		Advertising		Generation		Infrastructure		Corporate			Total
Revenue
Rental revenue	$	6,344	$	3,790	$	2,153	$	1,557	$	—		$	13,844
Expenses
Property operating		86		159		28		81		—			354
General and administrative		—		—		—		—		1,223			1,223
Acquisition-related		—		—		—		—		86			86
Depreciation and amortization		2,342		1,278		120		561		—			4,301
Impairments		78		24		—		—		—			102
Total expenses		2,506		1,461		148		642		1,309			6,066
Total other income and expenses		762		—		20		—		(4,873	)		(4,091	)
Income (loss) from continuing operations before income tax benefit		4,600		2,329		2,025		915		(6,182	)		3,687
Income tax benefit		—		—		—		—		(90	)		(90	)
Income (loss) from continuing operations		4,600		2,329		2,025		915		(6,092	)		3,777
Income from discontinued operations, net of tax		—		14,856		—		—		—			14,856
Net income (loss)	$	4,600	$	17,185	$	2,025	$	915	$	(6,092	)	$	18,633

For the three months ended June 30, 2019 (in thousands):

					Renewable
	Wireless		Outdoor		Power		Digital
	Communication		Advertising		Generation		Infrastructure		Corporate			Total
Revenue
Rental revenue	$	6,413	$	3,885	$	2,401	$	988	$	—		$	13,687
Expenses
Property operating		24		159		8		79		—			270
General and administrative		—		—		—		—		1,455			1,455
Acquisition-related		—		—		—		—		162			162
Depreciation and amortization		2,026		824		120		289		—			3,259
Impairments		—		—		—		—		—			—
Total expenses		2,050		983		128		368		1,617			5,146
Total other income and expenses		5,135		—		6,814		—		(8,225	)		3,724
Income (loss) from continuing operations before income tax expense		9,498		2,902		9,087		620		(9,842	)		12,265
Income tax expense		—		—		—		—		3,112			3,112
Income (loss) from continuing operations		9,498		2,902		9,087		620		(12,954	)		9,153
Income from discontinued operations, net of tax		—		112		—		—		—			112
Net income (loss)	$	9,498	$	3,014	$	9,087	$	620	$	(12,954	)	$	9,265

For the six months ended June 30, 2020 (in thousands):

					Renewable
	Wireless		Outdoor		Power		Digital
	Communication		Advertising		Generation		Infrastructure		Corporate			Total
Revenue
Rental revenue	$	12,671	$	7,807	$	4,073	$	3,114	$	—		$	27,665
Expenses
Property operating		210		373		64		216		—			863
General and administrative		—		—		—		—		2,711			2,711
Acquisition-related		—		—		—		—		91			91
Depreciation and amortization		4,266		2,274		240		1,123		—			7,903
Impairments		78		106		—		—		—			184
Total expenses		4,554		2,753		304		1,339		2,802			11,752
Total other income and expenses		1,068		—		40		—		(17,606	)		(16,498	)
Income (loss) from continuing operations before income tax benefit		9,185		5,054		3,809		1,775		(20,408	)		(585	)
Income tax benefit		—		—		—		—		(335	)		(335	)
Income (loss) from continuing operations		9,185		5,054		3,809		1,775		(20,073	)		(250	)
Income from discontinued operations, net of tax		—		17,511		—		—		—			17,511
Net income (loss)	$	9,185	$	22,565	$	3,809	$	1,775	$	(20,073	)	$	17,261

For the six months ended June 30, 2019 (in thousands):

					Renewable
	Wireless		Outdoor		Power		Digital
	Communication		Advertising		Generation		Infrastructure		Corporate			Total
Revenue
Rental revenue	$	12,789	$	7,784	$	4,477	$	1,852	$	—		$	26,902
Expenses
Property operating		39		362		359		96		—			856
General and administrative		—		—		—		—		2,924			2,924
Acquisition-related		—		—		—		—		204			204
Depreciation and amortization		4,098		1,650		289		578		—			6,615
Impairments		—		204		—		—		—			204
Total expenses		4,137		2,216		648		674		3,128			10,803
Total other income and expenses		5,193		—		7,019		5,878		(14,870	)		3,220
Income (loss) from continuing operations before income tax expense		13,845		5,568		10,848		7,056		(17,998	)		19,319
Income tax expense		—		—		—		—		3,122			3,122
Income (loss) from continuing operations		13,845		5,568		10,848		7,056		(21,120	)		16,197
Income from discontinued operations, net of tax		—		278		—		—		—			278
Net income (loss)	$	13,845	$	5,846	$	10,848	$	7,056	$	(21,120	)	$	16,475

The Partnership’s total assets by segment were (in thousands):

	June 30, 2020		December 31, 2019
Segments
Wireless communication	$	356,927	$	385,848
Outdoor advertising		195,076		169,803
Renewable power generation		99,799		99,856
Digital infrastructure		65,220		66,279
Corporate assets⁽¹⁾		18,372		133,819
Total assets	$	735,394	$	855,605

(1)	Prior period amount includes assets of the European outdoor advertising portfolio that have classified as assets held for sale as a result of discontinued operations.

The following table represents the Partnership’s rental revenues by geographic location. Prior period amounts have been revised to exclude discontinued operations (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
United States	$	13,534	$	13,329	$	27,052	$	26,231
Australia		292		344		576		643
Canada		18		14		37		28
Total rental revenue	$	13,844	$	13,687	$	27,665	$	26,902

The following table represents the Partnership’s total assets by geographic location (in thousands).

	June 30, 2020		December 31, 2019
United States	$	719,624	$	726,391
Australia		15,065		13,926
Canada		705		888
Europe⁽¹⁾		—		114,400
Total assets	$	735,394	$	855,605

(1)	Prior period amount includes assets of the European outdoor advertising portfolio that have classified as assets held for sale as a result of discontinued operations.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

16. Commitments and Contingencies

Tenant Concentration

6 Months Ended

Jun. 30, 2020

Risks And Uncertainties [Abstract]

Tenant Concentration

17. Tenant Concentration

	Three Months Ended June 30,						Six Months Ended June 30,
Tenant	2020			2019			2020			2019
T-Mobile⁽¹⁾		15.1	%		14.8	%		15.1	%		15.2	%
Clear Channel		12.8	%		11.7	%		13.1	%		12.0	%

(1)	On April 1, 2020, T-Mobile and Sprint completed their merger. As a result, prior year concentrations for T-Mobile and Sprint have been combined to reflect the merger.

Most tenants are subsidiaries of these companies but have been aggregated for purposes of showing revenue concentration. Financial information for these companies can be found at www.sec.gov.

Supplemental Cash Flow Information

6 Months Ended

Jun. 30, 2020

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

18. Supplemental Cash Flow Information

Noncash investing and financing activities for the six months ended June 30, 2020 and 2019 were as follows (in thousands):

	Six Months Ended June 30,
	2020			2019
Capital contribution to fund general and administrative expense reimbursement	$	929		$	1,134
Distributions payable to preferred unitholders		1,810			1,763
Accretion of Series C preferred units		193			450
Conversion of Series C preferred units		150			5
Purchase price for development activities included in accounts payable and accrued liabilities		943			1,571
Initial recognition of lease liabilities related to right of use assets		—			8,299
Adoption of ASU 2016-13		(76	)		—
Net cash provided by (used in) operating activities of discontinued operations		3,335			1,881
Net cash provided by (used in) investing activities of discontinued operations		115,868			(28,649	)
Net cash provided by (used in) financing activities of discontinued operations		(54,185	)		6,139
Deemed contribution by the General Partner		—			394
Deemed distribution by the General Partner		—			(394	)

Cash flows related to interest and income taxes paid were as follows (in thousands):

	Six Months Ended June 30,
	2020		2019
Cash paid for interest	$	8,463	$	6,925
Capitalized interest		1,246		768
Income taxes paid		194		181

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidated Financial Statements	Basis of Presentation and Principles of Consolidated Financial Statements On an ongoing basis, we evaluate each legal entity that is not wholly owned by us in accordance with the consolidation guidance. The accompanying consolidated financial statements include the accounts of the Partnership, its wholly-owned subsidiaries and those entities in which it has a controlling interest. Investments in entities that the Partnership does not control are accounted for using the equity or cost method, depending upon the Partnership’s ability to exercise significant influence over operating and financial policies. The unaudited interim consolidated financial statements have been prepared in conformity with GAAP as established by the Financial Accounting Standards Board (the “FASB”) in the Accounting Standards Codification (“ASC”) including modifications issued under the Accounting Standards Updates (“ASUs”) and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The accompanying unaudited financial statements include, in our opinion, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the unaudited financial information set forth therein. Financial information for the three and six months ended June 30, 2020 and 2019 included in these Notes to the Consolidated Financial Statements is derived from our unaudited financial statements. Certain notes and other information have been condensed or omitted from the interim financial statements included in this report. Operating results for the three and six months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. Certain reclassifications have been made to the prior period's consolidated financial statements to conform to the current period presentation, primarily in the Consolidated Balance Sheet and Consolidated Statement of Operations and all related notes in which prior periods have been retrospectively adjusted to reflect the classification of the operations of the European outdoor advertising portfolio to discontinued operations. All references to tenant sites are outside the scope of our independent registered public accounting firm’s review of our financial statements in accordance with the public company accounting oversight board (U.S.).
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements, in conformity with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Income Taxes	Income Taxes The Partnership is generally not subject to federal, state or local income taxes, except for our subsidiary Landmark Infrastructure Asset OpCo LLC (“Asset OpCo”) and our foreign subsidiaries. Asset OpCo conducts certain activities that may not generate qualifying income and will be treated as a corporation for U.S. federal income tax purposes. Each limited partner is responsible for the tax liability, if any, related to its proportionate share of the Partnerships’ taxable income or loss. Asset OpCo and certain consolidated foreign subsidiaries of the Partnership conduct certain activities in international locations that generate taxable income and will be treated as taxable entities. Additionally, our consolidated REIT subsidiary, Landmark Infrastructure Inc., a Delaware corporation, files as a corporation for U.S. federal income tax purposes. The REIT Subsidiary has elected to be treated as a REIT and we believe that it has operated in a manner that has allowed the REIT Subsidiary to qualify as a REIT for federal income tax purposes, and the REIT Subsidiary intends to continue operating in such manner. If the REIT Subsidiary fails to qualify as a REIT in any taxable year, and is unable to avail itself of certain savings provisions, all of its taxable income would be subject to federal income tax at regular corporate rates. The Partnership may also be subject to various non-income taxes, filing fees, and franchise taxes in various states that are reflected in operating expenses. The Partnership follows the requirements of ASC Topic 740, Income Taxes (“ASC 740”), relating to uncertain tax positions. Based on its evaluation under ASC 740, the Partnership has concluded that there are no significant uncertain tax positions requiring recognition in the consolidated financial statements, nor has the Partnership been assessed interest or penalties by any major tax jurisdictions.
Investment in Unconsolidated Joint Venture	Investment in Unconsolidated Joint Venture The Partnership accounts for its investment in an unconsolidated joint venture using the equity method of accounting. Under the equity method, the investment is initially recorded at fair value and subsequently adjusted for distributions and the Partnership’s proportionate share of equity in the joint venture’s income (loss). The Partnership recognizes its proportionate share of the ongoing income or loss of the unconsolidated joint venture as equity income (loss) from unconsolidated joint venture on the consolidated statements of operations. On a quarterly basis, the Partnership evaluates its investment in an unconsolidated joint venture for other-than-temporary impairments. The Partnership elected as an accounting policy to reflect unconsolidated joint venture distributions in the consolidated statements of cash flows using the nature of the distribution approach. Accordingly, the net proceeds were classified as return on investment in unconsolidated joint venture within the operating activities section of the consolidated statements of cash flows for the six months ended June 30, 2020 and 2019.
Discontinued Operations	Discontinued Operations If the disposition of a component, being an operating or reportable segment, business unit, subsidiary or asset group, represents a strategic shift that has or will have a major effect on the Partnership’s operations and financial results, the operating profits or losses of the component disposed of by sale or when classified as held for sale, and the gain or loss upon disposition of the component, are presented as discontinued operations in the statements of operations. On June 17, 2020, the Partnership completed the sale of its interest in the consolidated joint venture that holds its European outdoor advertising portfolio for a purchase price of £95 million. As a result, the sale of the European outdoor advertising portfolio represents a strategic shift that will have a major effect on the Partnership’s operations and financial results and has met the criteria as discontinued operations in June 2020. Accordingly, for all prior periods presented, the related assets and liabilities, including borrowings under the revolving credit facility and an interest rate swap agreement denominated in British pound sterling (“GBP”), are presented as assets and liabilities held for sale on the consolidated balance sheets (Note 4) and the related operating results, including interest expense and unrealized loss on the interest rate swap agreement denominated in GBP, are presented as income from discontinued operations on the consolidated statement of operations (Note 8).
Recently Issued Accounting Standards	Recently Issued Accounting Standards Changes to GAAP are established by the FASB in the form of ASUs to the FASB’s Accounting Standard Codification. The Partnership considers the applicability and impact of all ASUs. Newly issued ASUs not listed below are not expected to have a material impact on its consolidated financial position and results of operations because either the ASU is not applicable, or the impact is expected to be immaterial. In April 2020, the FASB issued a question and answer document (the “Lease Modification Q&A”) focused on the application of lease accounting guidance to lease concessions provided as a result of the COVID-19 pandemic. Under existing GAAP, the Partnership would have to determine, on a lease by lease basis, if a lease concession was the result of a new arrangement reached with the tenant (treated within the lease modification accounting framework) or if a lease concession was under the enforceable rights and obligations within the existing lease agreement (precluded from applying the lease modification accounting framework). The Lease Modification Q&A allows the Partnership, if certain criteria have been met, to bypass the lease by lease analysis, and instead elect to either apply the lease modification accounting framework or not, with such election applied consistently to leases with similar characteristics and similar circumstances. The Partnership has elected to apply such relief and will avail itself of the election to avoid performing a lease by lease analysis and not apply the lease modification accounting framework. The Lease Modification Q&A had no material impact on the Partnership’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which establishes ASC 326, Financial Instruments – Credit Losses. The ASU revises the measurement of impairment for certain financial instruments measured at amortized cost from an incurred loss methodology to an expected loss methodology. The ASU affects trade receivables, debt securities, net investment in leases, and most other financial assets that represent a right to receive cash. This update is effective for annual and interim financial statement periods beginning after December 15, 2019, with early adoption permitted for financial statement periods beginning after December 15, 2018. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses. This ASU clarifies that receivables from operating leases are accounted for using the lease guidance and not as financial instruments. The measurement of expected credit losses under the current expected credit loss model is based on relevant information including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amounts. The Partnership adopted the guidance as of January 1, 2020 and recognized $0.1 million as a cumulative adjustment to retained earnings and as a reduction to investment in receivables as of the effective date.

Acquisitions and Developments (Tables)

6 Months Ended

Jun. 30, 2020

Summary of Information about Other Lease Related Balances

The following table illustrates information about other lease related balances as of June 30, 2020 (in thousands):

Operating leases:
Right-of-use asset	$	6,500
Operating lease liability		6,723

Finance leases:
Right-of-use asset ⁽¹⁾	$	1,147

(1)	Assets held under finance leases are recorded in Real property interests and are depreciated over the lease term.

Schedule of Future Minimum Ground Lease Payments

The following table represents the future minimum ground lease payments as of June 30, 2020 (in thousands):

	Operating Lease
2020 (six months)	$	175
2021		356
2022		365
2023		377
2024		386
Thereafter		10,832
Total future payments		12,491
Discount		(5,768	)
Total lease liability	$	6,723

Third Party Acquisitions

Schedule of Acquisitions

The following table presents direct third-party acquisitions completed by the Partnership during the six months ended June 30, 2020 and for the year ended December 31, 2019.

	No. of Tenant Sites										Consideration (in millions)
Acquisition Description	Wireless Communication		Outdoor Advertising		Renewable Power Generation		Digital Infrastructure		Total		Borrowings and Available Cash		Total
First Quarter
International		—		1		—		—		1	$	0.1	$	0.1
Second Quarter
International		6		—		—		—		6	$	1.3	$	1.3
Total		6		—		—		—		6	$	1.3	$	1.3
2020 Total		6		1		—		—		7	$	1.4	$	1.4
First Quarter
International		—		104		—		—		104	$	6.0	$	6.0
Total		—		104		—		—		104	$	6.0	$	6.0
Second Quarter
International		—		7		—		—		7	$	6.7	$	6.7
Domestic		—		—		8		—		8		0.4		0.4
Total		—		7		8		—		15	$	7.1	$	7.1
Third Quarter
International		—		10		—		—		10	$	3.8	$	3.8
Domestic		1		—		—		—		1		0.3		0.3
Total		1		10		—		—		11	$	4.1	$	4.1
Fourth Quarter
International		1		13		—		—		14	$	10.5	$	10.5
Domestic		—		—		—		2		2		24.3		24.3
Total		1		13		—		2		16	$	34.8	$	34.8
2019 Total		2		134		8		2		146	$	52.0	$	52.0

Real Property Interests (Tables)

6 Months Ended

Jun. 30, 2020

Summary of the Partnership's Real Property Interests

The following table summarizes the Partnership’s real property interests. Prior period amounts have been revised to exclude discontinued operations (in thousands):

	June 30, 2020			December 31, 2019
Land	$	107,455		$	107,558

Real property interests – perpetual		101,651			151,999
Real property interests – finite life		417,231			356,704
Real property interests – ROU asset finance lease		1,147			478
Total real property interests		520,029			509,181
Construction in progress		41,655			49,116
Total land and real property interests		669,139			665,855
Accumulated depreciation and amortization of real property interests		(55,860	)		(48,995	)
Land and net real property interests	$	613,279		$	616,860

Schedule of Allocation of Estimated Fair Values of the Assets Acquired and Liabilities Assumed

			Investments in		In-place		Above-market		Below-market
			real property		lease		lease		lease			ROU		Lease
Period	Land		interests		intangibles		intangibles		intangibles			Asset		liability			Total
2020	$	—	$	770	$	40	$	—	$	—		$	675	$	—		$	1,485
2019	$	11,813	$	17,154	$	5,730	$	86	$	(113	)	$	21,570	$	(1,640	)	$	54,600

Schedule of Future Estimated Depreciation and Amortization of Finite Lived Real Property Interests

2020 (six months)	$	6,315
2021		12,632
2022		12,169
2023		10,776
2024		10,681
Thereafter		309,945
Total	$	362,518

Schedule of Carrying Amounts of Major Classes of Assets and Liabilities Held for Sale

The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are as follows (in thousands):

	December 31, 2019
Land	$	34,714
Real property interests, net		33,127
Construction in progress		19,791
Investments in receivables, net		3,169
Cash and cash equivalents		1,561
Rent receivables		1,432
Deferred rent receivable		4,628
Other intangible assets, net		2,030
Right-of-use asset, net		4,743
Other assets		9,205
AHFS	$	114,400
Revolving credit facility	$	53,407
Accounts payable and accrued liabilities		4,756
Other intangible liabilities, net		23
Operating lease liability		3,502
Finance lease liability		908
Prepaid rent		356
Derivative liabilities		1,675
Liabilities associated with AHFS	$	64,627

Other Intangible Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2020

Other Intangible Assets And Liabilities [Abstract]

Summary of Identifiable Intangible Assets, Including Above/Below Market Lease Intangibles

	June 30, 2020			December 31, 2019
Acquired in-place lease
Gross amount	$	26,773		$	26,741
Accumulated amortization		(8,961	)		(7,934	)
Net amount	$	17,812		$	18,807
Acquired above-market leases
Gross amount	$	6,547		$	6,550
Accumulated amortization		(3,698	)		(3,421	)
Net amount	$	2,849		$	3,129
Total other intangible assets, net	$	20,661		$	21,936
Acquired below-market leases
Gross amount	$	(16,777	)	$	(16,778	)
Accumulated amortization		9,951			9,195
Total other intangible liabilities, net	$	(6,826	)	$	(7,583	)

Future Aggregate Amortization of Intangibles for Each of the Five Succeeding Fiscal Years and Thereafter

Future aggregate amortization of intangibles for each of the five succeeding fiscal years and thereafter as of June 30, 2020 follows (in thousands):

	Acquired in-place leases		Acquired above-market leases		Acquired below-market leases
2020 (six months)	$	1,016	$	259	$	(746	)
2021		1,981		426		(1,375	)
2022		1,901		343		(1,252	)
2023		1,624		308		(809	)
2024		1,511		284		(719	)
Thereafter		9,779		1,229		(1,925	)
Total	$	17,812	$	2,849	$	(6,826	)

Investments in Receivables (Tables)

6 Months Ended

Jun. 30, 2020

Notes Receivable Net [Abstract]

Activity in investments in receivables

The following table reflects the activity in investments in receivables (in thousands). Prior period amounts have been revised to exclude discontinued operations (in thousands):

	June 30, 2020			December 31, 2019
Investments in receivables – beginning	$	5,653		$	15,236
Adoption of ASU 2016-13		(53	)		—
Sales		—			(8,331	)
Other		—			(742	)
Repayments		(220	)		(519	)
Interest accretion		—			9
Investments in receivables – ending	$	5,380		$	5,653

Annual amounts due

Annual amounts due as of June 30, 2020, are as follows (in thousands):

2020 (six months)	$	524
2021		1,043
2022		1,157
2023		1,260
2024		1,316
Thereafter		5,476
Total	$	10,776
Interest	$	5,396
Principal		5,380
Total	$	10,776

Investment in Unconsolidated Joint Venture (Tables)

6 Months Ended

Jun. 30, 2020

Equity Method Investments And Joint Ventures [Abstract]

Summary of Balance Sheet Information for Unconsolidated JV

The following table summarizes balance sheet information for the unconsolidated JV (in thousands):

	June 30, 2020		December 31, 2019
Total assets	$	252,310	$	255,157

Total liabilities		125,760		127,611
Total equity		126,550		127,546
Total liabilities and equity	$	252,310	$	255,157

Summary of Financial Information for Unconsolidated JV

The following table summarizes financial information for the unconsolidated JV (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Rental revenue	$	3,555	$	3,636	$	7,130	$	7,143
Net income		1,374		328		1,674		217
Partnership's share in net income		687		164		837		109
Distributions declared to the Partnership		250		1,101		925		2,583

Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Schedule of Partnership's debt

The following table summarizes the Partnership’s debt. Prior period amounts have been revised to exclude discontinued operations (in thousands):

		Outstanding Balance
	Maturity Date	June 30, 2020			December 31, 2019
Revolving credit facility	November 15, 2023	$	58,000		$	179,500

4.38% senior secured notes	June 30, 2036	$	38,877		$	39,945
Series 2019-1 Class A 3.90%	January 14, 2027		170,000			—
Series 2017-1 Class A 4.10%	November 15, 2022 ⁽¹⁾		57,933			59,124
Series 2017-1 Class B 3.81%	November 15, 2022 ⁽¹⁾		16,994			17,172
Series 2016-1 Class A 3.52%	June 1, 2021⁽²⁾		—			82,175
Series 2016-1 Class B 7.02%	June 1, 2021⁽²⁾		—			25,100
Secured Notes			283,804			223,516
Discount on Secured Notes			(893	)		(1,081	)
Deferred loan costs			(4,534	)		(5,337	)
Secured Notes, net		$	278,377		$	217,098

(1)	Maturity date reflects anticipated repayment date; final legal maturity is November 15, 2047.

(2)	Maturity date reflects anticipated repayment date; final legal maturity is July 15, 2046.

Schedule of Secured Notes Annual Principal Payment Amounts Due

The Secured Notes’ annual principal payment amounts due as of June 30, 2020, are as follows (in thousands):

2020 (six months)	$	2,626
2021		5,987
2022 ⁽¹⁾		72,440
2023		6,812
2024		7,150
Thereafter ⁽¹⁾		188,789
Total	$	283,804

(1)	Reflects anticipated repayment dates

Interest Rate Swap Agreements (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Table Summarizing Terms and Fair Value of Interest Rate Swaps

Date	Notional		Fixed				Effective	Maturity	Fair Value Liability at
Entered	Value		Rate			Index	Date	Date	June 30, 2020			December 31, 2019
August 24, 2015⁽¹⁾	$	50,000		1.74	%	1-month USD LIBOR	10/1/2015	10/1/2022	$	—		$	(264	)
March 23, 2016⁽¹⁾		50,000		1.67		1-month USD LIBOR	12/24/2018	12/24/2021		—			(113	)
March 31, 2016⁽¹⁾		20,000		1.56		1-month USD LIBOR	12/24/2018	12/24/2021		—			(4	)
March 31, 2016⁽¹⁾		25,000		1.63		1-month USD LIBOR	4/13/2019	4/13/2022		—			(48	)
June 12, 2017		50,000		2.10		1-month USD LIBOR	3/2/2018	9/2/2024		(3,908	)		(1,045	)
									$	(3,908	)	$	(1,474	)

(1)	In connection with the sale of the European outdoor advertising portfolio, the Partnership used proceeds from the sale to terminate existing swaps.

Table Summarizing Fair Values of Sensitivity Analysis

The following table summarizes the sensitivity of the fair value of the interest rate swap as a result of the analysis performed (in thousands):

		Sensitivity of the Fair Value to Changes in Interest Rates
Date Entered	Maturity Date	+50 Basis Points			-50 Basis Points			+100 Basis Points			-100 Basis Points
June 12, 2017	9/2/2024		(3,021	)		(5,145	)		(1,995	)		(6,245	)

Equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of changes in the number of units outstanding

The table below summarizes changes in the number of units outstanding (in units):

							Mezzanine Equity -
			Series A		Series B		Series C
	Common		Preferred		Preferred		Preferred
Balance as of December 31, 2018		25,327,801		1,593,149		2,463,015		2,000,000
Conversion of Series C Preferred Units		260		—		—		(200	)
Issuance under ATM Programs		—		56,651		66,734		—
Unit-based compensation		10,631		—		—		—
Balance as of June 30, 2019		25,338,692		1,649,800		2,529,749		1,999,800

Balance as of December 31, 2019		25,353,140		1,722,041		2,544,793		1,988,700
Conversion of Series C Preferred Units		7,810		—		—		(6,000	)
Issuance under ATM Programs		109,724		23,287		84,139		—
Unit-based compensation		7,368		—		—		—
Balance as of June 30, 2020		25,478,042		1,745,328		2,628,932		1,982,700

Schedule of quarterly distributions related to quarterly financial results

The table below summarizes the quarterly distributions related to our quarterly financial results:

					Total
			Distribution		Distribution
Quarter Ended	Declaration Date	Distribution Date	Per Unit		(in thousands)
Common Units and IDRs
June 30, 2019 ⁽¹⁾	July 19, 2019	August 14, 2019	$	0.3675	$	9,312
September 30, 2019 ⁽¹⁾	October 25, 2019	November 14, 2019		0.3675		9,317
December 31, 2019 ⁽¹⁾	January 24, 2020	February 14, 2020		0.3675		9,360
March 31, 2020	April 21, 2020	May 15, 2020		0.2000		5,096
June 30, 2020	July 24, 2020	August 14, 2020		0.2000		5,096
Series A Preferred Units
June 30, 2019	June 20, 2019	July 15, 2019	$	0.5000	$	828
September 30, 2019	September 20, 2019	October 15, 2019		0.5000		837
December 31, 2019	December 20, 2019	January 15, 2020		0.5000		861
March 31, 2020	March 20, 2020	April 15, 2020		0.5000		873
June 30, 2020	June 19, 2020	July 15, 2020		0.5000		873
Series B Preferred Units
June 30, 2019	July 19, 2019	August 15, 2019	$	0.4938	$	1,257
September 30, 2019	October 22, 2019	November 15, 2019		0.4938		1,257
December 31, 2019	January 23, 2020	February 18, 2020	0.4938			1,298
March 31, 2020	April 20, 2020	May 15, 2020	0.4938			1,298
June 30, 2020	July 22, 2020	August 17, 2020	0.4938			1,298
Series C Preferred Units
June 30, 2019	July 19, 2019	August 15, 2019	$	0.4510	$	902
September 30, 2019	October 22, 2019	November 15, 2019		0.4375		870
December 31, 2019	January 23, 2020	February 18, 2020	0.4375			870
March 31, 2020	April 20, 2020	May 15, 2020	0.4375			867
June 30, 2020	July 22, 2020	August 17, 2020	0.4375			867

(1)	The General Partner irrevocably waived its right to receive the incentive distribution and incentive allocations for the respective quarterly distribution.

Net Income (Loss) Per Limited Partner Unit (Tables)

6 Months Ended

Jun. 30, 2020

Earnings Per Unit [Abstract]

Schedule of Calculation of Undistributed Net Income (Loss)

The calculation of the undistributed net income (loss) attributable to common unitholders for the three and six months ended June 30, 2020 and 2019 is as follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Income (loss) from continuing operations	$	3,777		$	9,153		$	(250	)	$	16,197
Less: Net income attributable to noncontrolling interest		8			8			16			16
Income (loss) from continuing operations attributable to limited partners		3,769			9,145			(266	)		16,181
Income from discontinued operations, net of tax		14,856			112			17,511			278
Net income attributable to limited partners		18,625			9,257			17,245			16,459
Less:
Distributions declared on Preferred Units		(3,037	)		(3,021	)		(6,097	)		(5,915	)
General partner's incentive distribution rights ⁽¹⁾		—			(197	)		—			(394	)
Accretion of Series C preferred units		(96	)		(94	)		(193	)		(450	)
Net income attributable to common unitholders		15,492			5,945			10,955			9,700
Distributions declared on common units		(5,096	)		(9,312	)		(10,192	)		(18,624	)
Undistributed net income (loss)		10,396			(3,367	)		763			(8,924	)
Undistributed income from discontinued operations		14,856			112			17,511			278
Undistributed loss from continuing operations	$	(4,460	)	$	(3,479	)	$	(16,748	)	$	(9,202	)

(1)

Calculation of Net Income per Common Unit

The calculation of net income per common unit for the three months ended June 30, 2020 and 2019 is as follows (in thousands, except per unit data):

	Three Months Ended June 30,
	2020			2019
Distributions declared	$	5,096		$	9,312
Undistributed net loss from continuing operations		(4,460	)		(3,479	)
Income from continuing operations attributable to common units - basic		636			5,833
Income from discontinued operations attributable to common units - basic		14,856			112
Net income attributable to common units - basic		15,492			5,945
Income from continuing operations attributable to common units - diluted		636			5,833
Income from discontinued operations attributable to common units - diluted		14,856			112
Net income attributable to common units - diluted	$	15,492		$	5,945
Weighted-average units outstanding:
Basic		25,476			25,339
Diluted		25,476			25,339
Income from continuing operations per common unit:
Basic	$	0.02		$	0.23
Diluted⁽¹⁾	$	0.02		$	0.23
Income (loss) from discontinued operations per common unit:
Basic	$	0.58		$	—
Diluted⁽¹⁾	$	0.58		$	—
Net income per common unit:
Basic	$	0.61		$	0.23
Diluted⁽¹⁾	$	0.61		$	0.23

(1)

The calculation of net income per common unit for the six months ended June 30, 2020 and 2019 is as follows (in thousands, except per unit data):

	Six Months Ended June 30,
	2020			2019
Distributions declared	$	10,192		$	18,624
Undistributed net loss from continuing operations		(16,748	)		(9,202	)
Income (loss) from continuing operations attributable to common units - basic		(6,556	)		9,422
Income from discontinued operations attributable to common units - basic		17,511			278
Net income attributable to common units - basic		10,955			9,700
Income (loss) from continuing operations attributable to common units - diluted		(6,556	)		9,422
Income from discontinued operations attributable to common units - diluted		17,511			278
Net income attributable to common units - diluted	$	10,955		$	9,700
Weighted-average units outstanding:
Basic		25,468			25,338
Diluted		25,468			25,338
Income (loss) from continuing operations per common unit:
Basic	$	(0.26	)	$	0.37
Diluted⁽¹⁾	$	(0.26	)	$	0.37
Income from discontinued operations per common unit:
Basic	$	0.69		$	0.01
Diluted⁽¹⁾	$	0.69		$	0.01
Net income per common unit:
Basic	$	0.43		$	0.38
Diluted⁽¹⁾	$	0.43		$	0.38

(1)

Diluted earnings per unit takes into account the potential dilutive effect of common units that could be issued by the Partnership in conjunction with the Series C Preferred Units conversion features. Potential common unit equivalents are anti-dilutive for the six months ended June 30, 2020 and 2019 and, as a result, have been excluded in the determination of diluted earnings per common unit.

Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Table Summarizing the Carrying Amounts and Fair Values of Financial Instruments Which are Not Carried at Fair Value

	June 30, 2020				December 31, 2019
	Carrying amount		Fair Value		Carrying amount		Fair Value
Investment in receivables, net	$	5,380	$	5,396	$	5,653	$	5,650
Revolving credit facility		58,000		58,000		179,500		179,500
Secured Notes, net		278,377		278,929		217,098		221,577

Assets and Liabilities Measured at Fair Value on a Recurring Basis

		June 30, 2020				December 31, 2019
Derivative Liabilities ⁽¹⁾		$	3,908			$	1,474

(1)

Segment Information (Tables)

6 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of Statement of Operations by Reportable Segment

For the three months ended June 30, 2020 (in thousands):

					Renewable
	Wireless		Outdoor		Power		Digital
	Communication		Advertising		Generation		Infrastructure		Corporate			Total
Revenue
Rental revenue	$	6,344	$	3,790	$	2,153	$	1,557	$	—		$	13,844
Expenses
Property operating		86		159		28		81		—			354
General and administrative		—		—		—		—		1,223			1,223
Acquisition-related		—		—		—		—		86			86
Depreciation and amortization		2,342		1,278		120		561		—			4,301
Impairments		78		24		—		—		—			102
Total expenses		2,506		1,461		148		642		1,309			6,066
Total other income and expenses		762		—		20		—		(4,873	)		(4,091	)
Income (loss) from continuing operations before income tax benefit		4,600		2,329		2,025		915		(6,182	)		3,687
Income tax benefit		—		—		—		—		(90	)		(90	)
Income (loss) from continuing operations		4,600		2,329		2,025		915		(6,092	)		3,777
Income from discontinued operations, net of tax		—		14,856		—		—		—			14,856
Net income (loss)	$	4,600	$	17,185	$	2,025	$	915	$	(6,092	)	$	18,633

For the three months ended June 30, 2019 (in thousands):

					Renewable
	Wireless		Outdoor		Power		Digital
	Communication		Advertising		Generation		Infrastructure		Corporate			Total
Revenue
Rental revenue	$	6,413	$	3,885	$	2,401	$	988	$	—		$	13,687
Expenses
Property operating		24		159		8		79		—			270
General and administrative		—		—		—		—		1,455			1,455
Acquisition-related		—		—		—		—		162			162
Depreciation and amortization		2,026		824		120		289		—			3,259
Impairments		—		—		—		—		—			—
Total expenses		2,050		983		128		368		1,617			5,146
Total other income and expenses		5,135		—		6,814		—		(8,225	)		3,724
Income (loss) from continuing operations before income tax expense		9,498		2,902		9,087		620		(9,842	)		12,265
Income tax expense		—		—		—		—		3,112			3,112
Income (loss) from continuing operations		9,498		2,902		9,087		620		(12,954	)		9,153
Income from discontinued operations, net of tax		—		112		—		—		—			112
Net income (loss)	$	9,498	$	3,014	$	9,087	$	620	$	(12,954	)	$	9,265

For the six months ended June 30, 2020 (in thousands):

					Renewable
	Wireless		Outdoor		Power		Digital
	Communication		Advertising		Generation		Infrastructure		Corporate			Total
Revenue
Rental revenue	$	12,671	$	7,807	$	4,073	$	3,114	$	—		$	27,665
Expenses
Property operating		210		373		64		216		—			863
General and administrative		—		—		—		—		2,711			2,711
Acquisition-related		—		—		—		—		91			91
Depreciation and amortization		4,266		2,274		240		1,123		—			7,903
Impairments		78		106		—		—		—			184
Total expenses		4,554		2,753		304		1,339		2,802			11,752
Total other income and expenses		1,068		—		40		—		(17,606	)		(16,498	)
Income (loss) from continuing operations before income tax benefit		9,185		5,054		3,809		1,775		(20,408	)		(585	)
Income tax benefit		—		—		—		—		(335	)		(335	)
Income (loss) from continuing operations		9,185		5,054		3,809		1,775		(20,073	)		(250	)
Income from discontinued operations, net of tax		—		17,511		—		—		—			17,511
Net income (loss)	$	9,185	$	22,565	$	3,809	$	1,775	$	(20,073	)	$	17,261

For the six months ended June 30, 2019 (in thousands):

					Renewable
	Wireless		Outdoor		Power		Digital
	Communication		Advertising		Generation		Infrastructure		Corporate			Total
Revenue
Rental revenue	$	12,789	$	7,784	$	4,477	$	1,852	$	—		$	26,902
Expenses
Property operating		39		362		359		96		—			856
General and administrative		—		—		—		—		2,924			2,924
Acquisition-related		—		—		—		—		204			204
Depreciation and amortization		4,098		1,650		289		578		—			6,615
Impairments		—		204		—		—		—			204
Total expenses		4,137		2,216		648		674		3,128			10,803
Total other income and expenses		5,193		—		7,019		5,878		(14,870	)		3,220
Income (loss) from continuing operations before income tax expense		13,845		5,568		10,848		7,056		(17,998	)		19,319
Income tax expense		—		—		—		—		3,122			3,122
Income (loss) from continuing operations		13,845		5,568		10,848		7,056		(21,120	)		16,197
Income from discontinued operations, net of tax		—		278		—		—		—			278
Net income (loss)	$	13,845	$	5,846	$	10,848	$	7,056	$	(21,120	)	$	16,475

Schedule of Total Assets by Reportable Segment

The Partnership’s total assets by segment were (in thousands):

	June 30, 2020		December 31, 2019
Segments
Wireless communication	$	356,927	$	385,848
Outdoor advertising		195,076		169,803
Renewable power generation		99,799		99,856
Digital infrastructure		65,220		66,279
Corporate assets⁽¹⁾		18,372		133,819
Total assets	$	735,394	$	855,605

(1)	Prior period amount includes assets of the European outdoor advertising portfolio that have classified as assets held for sale as a result of discontinued operations.

Schedule of Rental Revenues by Geographic Location

The following table represents the Partnership’s rental revenues by geographic location. Prior period amounts have been revised to exclude discontinued operations (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
United States	$	13,534	$	13,329	$	27,052	$	26,231
Australia		292		344		576		643
Canada		18		14		37		28
Total rental revenue	$	13,844	$	13,687	$	27,665	$	26,902

Schedule of Total Assets by Geographic Location

The following table represents the Partnership’s total assets by geographic location (in thousands).

	June 30, 2020		December 31, 2019
United States	$	719,624	$	726,391
Australia		15,065		13,926
Canada		705		888
Europe⁽¹⁾		—		114,400
Total assets	$	735,394	$	855,605

(1)	Prior period amount includes assets of the European outdoor advertising portfolio that have classified as assets held for sale as a result of discontinued operations.

Tenant Concentration (Tables)

6 Months Ended

Jun. 30, 2020

Risks And Uncertainties [Abstract]

Schedule of Tenant Revenue Concentrations

	Three Months Ended June 30,						Six Months Ended June 30,
Tenant	2020			2019			2020			2019
T-Mobile⁽¹⁾		15.1	%		14.8	%		15.1	%		15.2	%
Clear Channel		12.8	%		11.7	%		13.1	%		12.0	%

(1)	On April 1, 2020, T-Mobile and Sprint completed their merger. As a result, prior year concentrations for T-Mobile and Sprint have been combined to reflect the merger.

Supplemental Cash Flow Information (Tables)

6 Months Ended

Jun. 30, 2020

Supplemental Cash Flow Information [Abstract]

Schedule of Noncash Investing and Financing Activities

Noncash investing and financing activities for the six months ended June 30, 2020 and 2019 were as follows (in thousands):

	Six Months Ended June 30,
	2020			2019
Capital contribution to fund general and administrative expense reimbursement	$	929		$	1,134
Distributions payable to preferred unitholders		1,810			1,763
Accretion of Series C preferred units		193			450
Conversion of Series C preferred units		150			5
Purchase price for development activities included in accounts payable and accrued liabilities		943			1,571
Initial recognition of lease liabilities related to right of use assets		—			8,299
Adoption of ASU 2016-13		(76	)		—
Net cash provided by (used in) operating activities of discontinued operations		3,335			1,881
Net cash provided by (used in) investing activities of discontinued operations		115,868			(28,649	)
Net cash provided by (used in) financing activities of discontinued operations		(54,185	)		6,139
Deemed contribution by the General Partner		—			394
Deemed distribution by the General Partner		—			(394	)

Schedule of Cash Flows Related to Interest and Income Taxes Paid

Cash flows related to interest and income taxes paid were as follows (in thousands):

	Six Months Ended June 30,
	2020		2019
Cash paid for interest	$	8,463	$	6,925
Capitalized interest		1,246		768
Income taxes paid		194		181

Business (Details) - Limited Partners - Common Units - shares	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Partnership Equity
Number of units held (in shares)	25,478,042	25,470,000	25,353,140	25,338,692	25,338,000	25,327,801
Landmark Dividend LLC
Partnership Equity
Number of units held (in shares)	3,415,405

Basis of Presentation and Summary of Significant Accounting Policies - Recently Issued Accounting Standards (Details) £ in Millions, $ in Millions	Jun. 17, 2020 GBP (£)	Jan. 01, 2020 USD ($)	Jan. 04, 2019 USD ($)
Accounting Policies [Abstract]
Purchase price	£ 95		$ 13.5
Cumulative adjustment to retained earnings		$ 0.1

Acquisitions and Developments - Third Party Acquisitions - Summary of Acquisitions Completed (Details) $ in Millions	3 Months Ended						6 Months Ended	12 Months Ended
	Jun. 30, 2020 USD ($) site	Mar. 31, 2020 USD ($) site	Dec. 31, 2019 USD ($) site	Sep. 30, 2019 USD ($) site	Jun. 30, 2019 USD ($) site	Mar. 31, 2019 USD ($) site	Jun. 30, 2020 USD ($) site	Dec. 31, 2019 USD ($) site
Acquisitions
Number of tenant sites acquired			16				7	146
Consideration
Borrowings and Available Cash \| $			$ 34.8				$ 1.4	$ 52.0
Consideration \| $			$ 34.8				$ 1.4	$ 52.0
Wireless Communication
Acquisitions
Number of tenant sites acquired			1				6	2
Outdoor Advertising
Acquisitions
Number of tenant sites acquired			13				1	134
Renewable Power Generation
Acquisitions
Number of tenant sites acquired								8
Digital Infrastructure
Acquisitions
Number of tenant sites acquired			2					2
International
Acquisitions
Number of tenant sites acquired	6	1	14	10	7	104
Consideration
Borrowings and Available Cash \| $	$ 1.3	$ 0.1	$ 10.5	$ 3.8	$ 6.7	$ 6.0
Consideration \| $	$ 1.3	$ 0.1	$ 10.5	$ 3.8	$ 6.7	$ 6.0
International \| Wireless Communication
Acquisitions
Number of tenant sites acquired	6		1
International \| Outdoor Advertising
Acquisitions
Number of tenant sites acquired		1	13	10	7	104
2019 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired						104
Consideration
Borrowings and Available Cash \| $						$ 6.0
Consideration \| $						$ 6.0
2019 Direct Third Party Acquisitions, First Quarter \| Outdoor Advertising
Acquisitions
Number of tenant sites acquired						104
Domestic
Acquisitions
Number of tenant sites acquired			2	1	8
Consideration
Borrowings and Available Cash \| $			$ 24.3	$ 0.3	$ 0.4
Consideration \| $			$ 24.3	$ 0.3	$ 0.4
Domestic \| Wireless Communication
Acquisitions
Number of tenant sites acquired				1
Domestic \| Renewable Power Generation
Acquisitions
Number of tenant sites acquired					8
Domestic \| Digital Infrastructure
Acquisitions
Number of tenant sites acquired			2
2020 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired	6
Consideration
Borrowings and Available Cash \| $	$ 1.3
Consideration \| $	$ 1.3
2020 Direct Third Party Acquisitions, Second Quarter \| Wireless Communication
Acquisitions
Number of tenant sites acquired	6
2019 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired					15
Consideration
Borrowings and Available Cash \| $					$ 7.1
Consideration \| $					$ 7.1
2019 Direct Third Party Acquisitions, Second Quarter \| Outdoor Advertising
Acquisitions
Number of tenant sites acquired					7
2019 Direct Third Party Acquisitions, Second Quarter \| Renewable Power Generation
Acquisitions
Number of tenant sites acquired					8
2019 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired				11
Consideration
Borrowings and Available Cash \| $				$ 4.1
Consideration \| $				$ 4.1
2019 Direct Third Party Acquisitions, Third Quarter \| Wireless Communication
Acquisitions
Number of tenant sites acquired				1
2019 Direct Third Party Acquisitions, Third Quarter \| Outdoor Advertising
Acquisitions
Number of tenant sites acquired				10

Acquisitions and Developments - Leases - General Information (Details)	Jun. 30, 2020
Business Combinations [Abstract]
Lessee, discount rate	4.50%
Weighted-average remaining lease term of operating leases	5 years

Acquisitions and Developments - Summary of Information about Other Lease Related Balances (Details) - USD ($)
$ in Thousands

Jun. 30, 2020

Dec. 31, 2019

^[1]

Operating leases:

Right-of-use asset

$ 6,500

$ 6,615

Operating lease liability

6,723

$ 6,766

Finance leases:

Right-of-use asset

$ 1,147

[1]

Acquisitions and Developments - Summary of Future Minimum Ground Lease Payments (Details) - USD ($)
$ in Thousands

Jun. 30, 2020

Dec. 31, 2019

^[1]

Business Combinations [Abstract]

$ 175

356

365

377

386

10,832

Total future payments

12,491

Discount

(5,768)

Total operating lease liability

$ 6,723

$ 6,766

[1]

Acquisitions and Developments - Developments (Details)
$ in Thousands

6 Months Ended

Jun. 30, 2020

USD ($)

Kiosk

Dec. 31, 2019

USD ($)

Smart Enabled Infrastructure

$ 41,655

$ 49,116

^[1]

$ 41,700

$ 49,100

DART

Total other assets, placed in service

Number of Kiosks | Kiosk

$ 9,700

[1]

Real Property Interests - Summary of Real Property Interests (Details) - USD ($)
$ in Thousands

Jun. 30, 2020

Dec. 31, 2019

Real property interests – perpetual

Land

$ 107,455

$ 107,558

^[1]

101,651

151,999

Real property interests – finite life

417,231

356,704

Real property interests – ROU asset finance lease

1,147

478

Total real property interests

520,029

509,181

^[1]

Total land and real property interests

41,655

49,116

669,139

665,855

^[1]

Accumulated depreciation and amortization of real property interests

(55,860)

(48,995)

Land and net real property interests

$ 613,279

$ 616,860

^[1]

[1]

Real Property Interests - Sale (Details) £ in Millions, $ in Millions	Jun. 17, 2020 USD ($)	Jun. 17, 2020 GBP (£)	Jan. 04, 2019 USD ($)
Real Property Interests
Cash consideration received		£ 95	$ 13.5
Gain (loss) on sale of real property interests, before income taxes	$ 15.7		$ 5.9

Real Property Interests - Purchase Price Allocation (Details) - Measurement Input, Discount Rate	Jun. 30, 2020
Minimum
Acquisitions
Discount rate used to estimate fair values (as a percent)	6
Maximum
Acquisitions
Discount rate used to estimate fair values (as a percent)	20

Real Property Interests - Summary of Allocation of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair values of the assets acquired and liabilities assumed at the date of acquisition
Below market lease intangibles	$ (16,777)	$ (16,778)
Landmark, General Partner and affiliates \| Acquisition from related party
Fair values of the assets acquired and liabilities assumed at the date of acquisition
Land		11,813
Investments in real property interests	770	17,154
Below market lease intangibles		(113)
ROU Asset	675	21,570
Lease liability		(1,640)
Total	1,485	54,600
Landmark, General Partner and affiliates \| Acquisition from related party \| Acquired in-place leases
Fair values of the assets acquired and liabilities assumed at the date of acquisition
Lease intangibles, assets	$ 40	5,730
Landmark, General Partner and affiliates \| Acquisition from related party \| Acquired above-market leases
Fair values of the assets acquired and liabilities assumed at the date of acquisition
Lease intangibles, assets		$ 86

Real Property Interests - Future Estimated Aggregate Depreciation and Amortization of Finite Lived Real Property Interests (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Future estimated aggregate depreciation and amortization of real property interests
2020 (six months)	$ 6,315
2021	12,632
2022	12,169
2023	10,776
2024	10,681
Thereafter	309,945
Total	$ 362,518

Real Property Interests - Weighted Average Remaining Depreciation and Amortization Period for Non-perpetual Real Property Interests (Details)	6 Months Ended
	Jun. 30, 2020
Real Estate [Abstract]
Weighted average remaining depreciation and amortization period for non-perpetual real property interests	39 years

Real Property Interests - Impairment (Details)

3 Months Ended

6 Months Ended

Jun. 30, 2020

USD ($)

site

Jun. 30, 2019

USD ($)

Jun. 30, 2020

USD ($)

site

Jun. 30, 2019

USD ($)

site

Impairment

Recognized impairment charge

^[1]

$ 102,000

$ 184,000

$ 204,000

Impaired Real Property Interest

Impairment

Number of real property interest impaired | site

Recognized impairment charge

$ 100,000

$ 0

$ 200,000

Number of expiring lease real property interest impaired | site

Impaired real property interests

$ 0

[1]

Real Property Interests - Assets and Liabilities Held for Sale (Details)
$ in Thousands

Dec. 31, 2019

USD ($)

^[1]

Acquisitions

Assets held for sale

$ 114,400

Liabilities held for sale

$ 64,627

[1]

Real Property Interests - Carrying Amounts of Major Classes of Assets and Liabilities Held for Sale (Details)
$ in Thousands

Dec. 31, 2019

USD ($)

Real property interests, net

Land

$ 34,714

33,127

Investments in receivables, net

19,791

3,169

Cash and cash equivalents

1,561

Rent receivables

1,432

Deferred rent receivable

4,628

Other intangible assets, net

2,030

Right-of-use asset, net

4,743

Other assets

9,205

AHFS

114,400

^[1]

Accounts payable and accrued liabilities

53,407

4,756

Other intangible liabilities, net

Operating lease liability

3,502

Finance lease liability

908

Prepaid rent

356

Derivative liabilities

1,675

Liabilities associated with AHFS

$ 64,627

^[1]

[1]

Other Intangible Assets and Liabilities - Total Other Intangible Assets, Net (Details) - USD ($)
$ in Thousands

Jun. 30, 2020

Dec. 31, 2019

Other Intangible Assets

$ 20,661

$ 21,936

^[1]

Acquired in-place leases

Other Intangible Assets

Gross amount

26,773

26,741

Accumulated amortization

(8,961)

(7,934)

Acquired above-market leases

17,812

18,807

Other Intangible Assets

Gross amount

6,547

6,550

Accumulated amortization

(3,698)

(3,421)

Below market lease intangibles

$ 2,849

$ 3,129

[1]

Other Intangible Assets and Liabilities - Total Other Intangible Liabilities, Net (Details) - USD ($)
$ in Thousands

Jun. 30, 2020

Dec. 31, 2019

Acquired below-market leases

$ (16,777)

$ (16,778)

Accumulated amortization

9,951

9,195

Future amortization of lease intangibles

$ (6,826)

$ (7,583)

^[1]

[1]

Other Intangible Assets and Liabilities - Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Other Intangible Assets And Liabilities [Abstract]
Amortization of above-and below-market leases, excluding amounts related to discontinued operations	$ 200	$ 200	$ 481	$ 438
Amortization expense excluding amounts related to discontinued operations	$ 500	$ 400	$ 1,000	$ 900

Other Intangible Assets and Liabilities - Future Aggregate Amortization of Other Intangible Assets (Details) - USD ($)
$ in Thousands

Jun. 30, 2020

Dec. 31, 2019

Future amortization of lease intangibles

$ 20,661

$ 21,936

^[1]

Acquired in-place leases

1,016

1,981

1,901

1,624

1,511

9,779

17,812

18,807

Acquired above-market leases

Future amortization of lease intangibles

259

426

343

308

284

1,229

$ 2,849

$ 3,129

[1]

Other Intangible Assets and Liabilities - Future Aggregate Amortization of Other Intangible Liabilities (Details) - USD ($)
$ in Thousands

Jun. 30, 2020

Dec. 31, 2019

^[1]

Future amortization of acquired below-market leases

$ (746)

(1,375)

(1,252)

(809)

(719)

(1,925)

$ (6,826)

$ (7,583)

[1]

Investments in Receivables - General Information (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Jul. 21, 2015	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Receivables With Imputed Interest [Line Items]
Payment collection period, minimum				2 years
Payment collection period, maximum				99 years
Interest income recognized		$ 0.1	$ 0.1	$ 0.3	$ 0.5
Minimum
Receivables With Imputed Interest [Line Items]
Discount rate	7.00%
Maximum
Receivables With Imputed Interest [Line Items]
Discount rate	14.00%

Investments in Receivables - Activity in Investments in Receivables (Details) - USD ($)
$ in Thousands

6 Months Ended

12 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Dec. 31, 2019

Receivables With Imputed Interest [Line Items]

Investments in receivables – beginning

$ 5,653

^[1]

$ 15,236

Sales

(8,331)

Other

(742)

Repayments

(220)

(519)

Interest accretion

$ 6

Investments in receivables – ending

5,380

$ 5,653

^[1]

ASU 2016-13

Receivables With Imputed Interest [Line Items]

Adoption of ASU 2016-13

$ (53)

[1]

Investments in Receivables - Annual Amounts Due (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Notes Receivable Net [Abstract]
2020 (six months)	$ 524
2021	1,043
2022	1,157
2023	1,260
2024	1,316
Thereafter	5,476
Total	$ 10,776

Investments in Receivables - Annual Amounts Due - Principal and Interest (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Notes Receivable Net [Abstract]
Interest	$ 5,396
Principal	5,380
Total	$ 10,776

Investment in Unconsolidated Joint Venture - Additional Information (Details) $ in Thousands	Sep. 24, 2018 USD ($) site	Jun. 30, 2020 USD ($)	Jan. 15, 2020 USD ($)	Dec. 31, 2019 USD ($)	Jun. 06, 2018 USD ($)	Nov. 30, 2017 USD ($)
Schedule Of Equity Method Investments [Line Items]
Aggregate principal amount			$ 170,000
Interest rate (as a percent)			3.90%
Secured notes
Schedule Of Equity Method Investments [Line Items]
Aggregate principal amount					$ 125,400	$ 80,000
Debt discount		$ 893		$ 1,081		$ 1,800
Secured notes \| Maximum
Schedule Of Equity Method Investments [Line Items]
Debt discount					$ 100
Series 2018-1 Class C 3.97%
Schedule Of Equity Method Investments [Line Items]
Interest rate (as a percent)		3.97%
Series 2018-1 Class D 4.70%
Schedule Of Equity Method Investments [Line Items]
Interest rate (as a percent)		4.70%
Series 2018-1 Class F 5.92%
Schedule Of Equity Method Investments [Line Items]
Interest rate (as a percent)		5.92%
Unconsolidated Joint Venture
Schedule Of Equity Method Investments [Line Items]
Number of tenant site assets contributed \| site	545
Aggregate principal amount	$ 125,400
Percentage of membership interest in unconsolidated JV	50.01%
Cash transaction in unconsolidated JV	$ 65,500

Investment in Unconsolidated Joint Venture - Summary of Balance Sheet Information for Unconsolidated JV (Details) - Unconsolidated Joint Venture - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Total assets	$ 252,310	$ 255,157
Total liabilities	125,760	127,611
Total equity	126,550	127,546
Total liabilities and equity	$ 252,310	$ 255,157

Investment in Unconsolidated Joint Venture - Summary of Financial Information for Unconsolidated JV (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Schedule Of Equity Method Investments [Line Items]

Partnership's share in net income

^[1]

$ 687

$ 164

$ 837

$ 109

Distributions declared to the Partnership

925

2,583

Unconsolidated Joint Venture

Schedule Of Equity Method Investments [Line Items]

3,555

3,636

7,130

7,143

Partnership's share in net income

1,374

328

1,674

217

687

164

837

109

Distributions declared to the Partnership

$ 250

$ 1,101

$ 925

$ 2,583

[1]

Debt - Summary of Debt (Details) - USD ($)
$ in Thousands

6 Months Ended

Jan. 15, 2020

Jun. 30, 2020

Dec. 31, 2019

Nov. 30, 2017

Debt

Outstanding Balance, revolving credit facility

$ 58,000

$ 179,500

^[1]

Deferred loan costs

(4,051)

(4,557)

^[1]

Secured Notes, net

278,377

217,098

^[1]

Senior secured revolving credit facility

Jan. 14, 2027

Debt

Outstanding Balance, revolving credit facility

$ 58,000

179,500

4.38% senior secured notes

Nov. 15, 2023

Debt

$ 38,877

39,945

Series 2017-1 Class A 4.10%

Jun. 30, 2036

Debt

$ 57,933

59,124

Series 2019-1 Class A 3.90%

Nov. 15, 2022

Debt

$ 170,000

Series 2017-1 Class B 3.81%

Jan. 14, 2027

Debt

$ 16,994

17,172

Series 2016-1 Class A 3.52%

Nov. 15, 2022

Debt

82,175

Series 2016-1 Class B 7.02%

Jun. 01, 2021

Debt

25,100

Jun. 01, 2021

Secured notes

Debt

Discount on Secured Notes

$ 283,804

223,516

(893)

(1,081)

$ (1,800)

Deferred loan costs

(4,534)

(5,337)

Secured Notes, net

$ 278,377

$ 217,098

[1]

Debt - Summary of Debt (Parenthetical) (Details)		6 Months Ended
Debt - Summary of Debt (Parenthetical) (Details)	Jan. 15, 2020	Jun. 30, 2020
Debt Instrument [Line Items]
Interest rate (as a percent)	3.90%
Debt instrument, final legal maturity date	Jan. 14, 2027
4.38% senior secured notes
Debt Instrument [Line Items]
Interest rate (as a percent)		4.38%
Debt instrument, final legal maturity date		Jun. 30, 2036
Series 2019-1 Class A 3.90%
Debt Instrument [Line Items]
Interest rate (as a percent)		3.90%
Debt instrument, final legal maturity date		Jan. 14, 2027
Series 2017-1 Class A 4.10%
Debt Instrument [Line Items]
Interest rate (as a percent)		4.10%
Debt instrument, final legal maturity date		Nov. 15, 2022
Series 2017-1 Class B 3.81%
Debt Instrument [Line Items]
Interest rate (as a percent)		3.81%
Debt instrument, final legal maturity date		Nov. 15, 2022
Series 2016-1 Class A 3.52%
Debt Instrument [Line Items]
Interest rate (as a percent)		3.52%
Debt instrument, final legal maturity date		Jun. 01, 2021
Series 2016-1 Class B 7.02%
Debt Instrument [Line Items]
Interest rate (as a percent)		7.02%
Debt instrument, final legal maturity date		Jun. 01, 2021
Series 2017-1 Class A 4.10% and Class B 3.81%
Debt Instrument [Line Items]
Debt instrument, final legal maturity date		Nov. 15, 2047
Series 2016-1 Class A 3.52% and Class B 7.02%
Debt Instrument [Line Items]
Debt instrument, final legal maturity date		Jul. 15, 2046

Debt - Revolving Credit Facility (Details)
$ in Thousands, £ in Millions

1 Months Ended

6 Months Ended

Jan. 15, 2020

USD ($)

Nov. 15, 2018

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2020

GBP (£)

Jun. 30, 2020

USD ($)

Dec. 31, 2019

USD ($)

Debt

Jan. 14, 2027

Senior secured revolving credit facility

$ 58,000

$ 179,500

^[1]

Debt

Annual commitment rate

0.125%

Nov. 15, 2023

$ 59,000

Undrawn borrowing capacity

58,000

$ 58,000

$ 179,500

392,000

$ 392,000

Senior secured revolving credit facility | European Outdoor Advertising Portfolio

Debt

Senior secured revolving credit facility | LIBOR | Minimum

115,000

£ 40.5

Debt

Applicable margin (as a percent)

1.75%

Senior secured revolving credit facility | LIBOR | Maximum

Debt

Applicable margin (as a percent)

2.25%

Senior secured revolving credit facility | Base rate

Debt

Applicable margin (as a percent)

2.25%

Amended and Restated Senior Secured Revolving Credit Facility

Debt

Initial borrowing capacity

$ 450,000

Credit facility term

5 years

Additional borrowing capacity

$ 75,000

Standby Letters of Credit | Senior secured revolving credit facility

Debt

Undrawn borrowing capacity

$ 5,800

[1]

Debt - Secured Notes (Details) - USD ($)
$ in Thousands

6 Months Ended

Jan. 15, 2020

Apr. 24, 2018

Jun. 30, 2020

Dec. 31, 2019

Jun. 06, 2018

Nov. 30, 2017

$ 170,000

3.90%

Interest-only initial term

Jan. 14, 2027

3 years

Standby letter of credit amount

$ 3,400

Restricted cash reserved

$ 3,103

$ 5,619

^[1]

2016 Secured Notes

2016 Secured Notes | Minimum

108,000

Senior secured revolving credit facility

200.00%

Nov. 15, 2023

$ 59,000

Note Purchase Agreement

$ 43,700

4.38%

Debt instrument amortized, description

Jun. 30, 2036

The 4.38% Senior Secured Notes are fully amortized through June 30, 2036

Note Purchase Agreement | Maximum

$ 225,000

Secured notes

$ 125,400

$ 80,000

Debt discount

$ 893

$ 1,081

$ 1,800

Secured notes | Maximum

Series 2017-1 Class A 4.10%

Debt discount

$ 100

4.10%

Series 2017-1 Class B 3.81%

Nov. 15, 2022

3.81%

2019 Secured notes | Minimum

Nov. 15, 2022

2017 Secured notes | Minimum

1.50%

4.38% senior secured notes

200.00%

4.38%

4.38% senior secured notes | Minimum

Jun. 30, 2036

Unrealized loss on derivatives

110.00%

[1]

Debt - Annual Principal Payment Amounts (Details) - Secured notes - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
2020 (six months)	$ 2,626
2021	5,987
2022	72,440
2023	6,812
2024	7,150
Thereafter	188,789
Total	$ 283,804	$ 223,516

Debt - Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Debt - Interest Expense (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Interest Expense
Debt interest expense excluding amounts related to discontinued operations	$ 4.4	$ 4.7	$ 8.7	$ 9.1
Interest payable	0.2		0.2		$ 0.5
Interest expense
Interest Expense
Amortization of deferred loan costs and discount on secured notes	$ 0.6	$ 0.8	$ 1.2	$ 1.5

Interest Rate Swap Agreements - Fair Value of Interest Rate Swap Agreements (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (3,908,000)	$ (1,474,000)
Agreement effective date October 1, 2015
Interest Rate Swap Agreements
Notional value	$ 50,000,000
Fixed Rate	1.74%
Index	1-month USD LIBOR
Agreement effective date October 1, 2015 \| Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)		(264,000)
Agreement entered into March 23, 2016 effective date December 24, 2018
Interest Rate Swap Agreements
Notional value	$ 50,000,000
Fixed Rate	1.67%
Index	1-month USD LIBOR
Agreement entered into March 23, 2016 effective date December 24, 2018 \| Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)		(113,000)
Agreement entered into March 31, 2016 effective date December 24, 2018
Interest Rate Swap Agreements
Notional value	$ 20,000,000
Fixed Rate	1.56%
Index	1-month USD LIBOR
Agreement entered into March 31, 2016 effective date December 24, 2018 \| Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)		(4,000)
Agreement entered into March 31, 2016 effective date April 13, 2019
Interest Rate Swap Agreements
Notional value	$ 25,000,000
Fixed Rate	1.63%
Index	1-month USD LIBOR
Agreement entered into March 31, 2016 effective date April 13, 2019 \| Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)		(48,000)
Agreement entered into June 12, 2017 effective date March 02, 2018
Interest Rate Swap Agreements
Notional value	$ 50,000,000
Fixed Rate	2.10%
Index	1-month USD LIBOR
Agreement entered into June 12, 2017 effective date March 02, 2018 \| Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (3,908,000)	$ (1,045,000)

Interest Rate Swap Agreements - Gain (Loss) on Derivatives (Details)
$ in Thousands, £ in Millions

1 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2020

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2019

USD ($)

Jun. 30, 2020

USD ($)

Jun. 30, 2019

USD ($)

Jun. 30, 2020

GBP (£)

Dec. 31, 2019

USD ($)

Interest Rate Swap Agreements

^[1]

$ (481)

$ (3,570)

$ (6,684)

$ (5,728)

Payments to terminate derivative agreements

$ 7,565

Interest Rate Swap Agreement

Interest Rate Swap Agreements

Payments to terminate derivative agreements

$ 7,600

Interest Rate Swap Agreement | GBP

Interest Rate Swap Agreements

Payments to terminate derivative agreements

$ 3,300

Notional value | £

£ 38

Fair value asset (liability)

$ (1,700)

[1]

Interest Rate Swap Agreements - Sensitivity Analysis (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2020 USD ($)
Agreement entered into June 12, 2017 effective date March 02, 2018 \| Increase of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	$ (3,021)
Agreement entered into June 12, 2017 effective date March 02, 2018 \| Decrease of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(5,145)
Agreement entered into June 12, 2017 effective date March 02, 2018 \| Increase of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(1,995)
Agreement entered into June 12, 2017 effective date March 02, 2018 \| Decrease of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	$ (6,245)
Interest Rate Swap Agreement \| Increase of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, assumed increase (decrease) in basis points (as a percent)	0.50%
Interest Rate Swap Agreement \| Decrease of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, assumed increase (decrease) in basis points (as a percent)	(0.50%)
Interest Rate Swap Agreement \| Increase of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, assumed increase (decrease) in basis points (as a percent)	1.00%
Interest Rate Swap Agreement \| Decrease of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, assumed increase (decrease) in basis points (as a percent)	(1.00%)

Equity - Changes in Units Outstanding (Details) - shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Common Units
Increase (decrease) in partners' capital
Conversion of units (in units)	7,810
Preferred Units Series C
Increase (decrease) in partners' capital
Conversion of units (in units)	6,000
Limited Partners \| Common Units
Increase (decrease) in partners' capital
Balance (in units)	25,353,140	25,327,801
Conversion of units (in units)	7,810	260
Unit-based compensation (in units)	7,368	10,631
Balance (in units)	25,478,042	25,338,692
Limited Partners \| Common Units \| At The Market Issuance Sales Agreement
Increase (decrease) in partners' capital
Issuance of units, net (in units)	109,724
Limited Partners \| Preferred Units Series A
Increase (decrease) in partners' capital
Balance (in units)	1,722,041	1,593,149
Balance (in units)	1,745,328	1,649,800
Limited Partners \| Preferred Units Series A \| At The Market Issuance Sales Agreement
Increase (decrease) in partners' capital
Issuance of units, net (in units)	23,287	56,651
Limited Partners \| Preferred Units Series B
Increase (decrease) in partners' capital
Balance (in units)	2,544,793	2,463,015
Balance (in units)	2,628,932	2,529,749
Limited Partners \| Preferred Units Series B \| At The Market Issuance Sales Agreement
Increase (decrease) in partners' capital
Issuance of units, net (in units)	84,139	66,734
Limited Partners \| Preferred Units Series C
Increase (decrease) in partners' capital
Balance (in units)	1,988,700	2,000,000
Conversion of units (in units)	(6,000)	(200)
Balance (in units)	1,982,700	1,999,800

Equity - General Information (Details) - USD ($) $ / shares in Units, $ in Thousands							3 Months Ended					6 Months Ended
	Feb. 28, 2020	May 03, 2019	May 15, 2018	Apr. 02, 2018	Mar. 30, 2017	Mar. 27, 2017	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Partnership Equity
Proceeds from the issuance of Preferred Units, net												$ 2,663	$ 2,898
Preferred Units Series B
Partnership Equity
Distribution date							Aug. 17, 2020	May 15, 2020	Feb. 18, 2020	Nov. 15, 2019	Aug. 15, 2019
Distribution Per Unit Paid (in dollars per share)							$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938
2019 Series A ATM Program \| At The Market Issuance Sales Agreement
Partnership Equity
Aggregate offering price		$ 50,000
2020 Series A ATM Program \| At The Market Issuance Sales Agreement
Partnership Equity
Aggregate offering price	$ 50,000
Issuance of units, net (in shares)												0
2020 Series B ATM Program \| At The Market Issuance Sales Agreement
Partnership Equity
Aggregate offering price	50,000
Issuance of units, net (in shares)												0
Preferred Units Series C
Partnership Equity
Distribution date							Aug. 17, 2020	May 15, 2020	Feb. 18, 2020	Nov. 15, 2019	Aug. 15, 2019
Distribution Per Unit Paid (in dollars per share)							$ 0.4375	$ 0.4375	$ 0.4375	$ 0.4375	$ 0.4510
Stated liquidation preference / redemption price (in dollars per share)							$ 25.00					$ 25.00
Conversion rate for preferred unit							1.3017					1.3017
Designated redemption date one												May 15, 2025
Designated redemption date two												May 15, 2028
Designated redemption period												5 years
Liquidation preference							$ 11.13					$ 11.13
Preferred units redemption date												May 20, 2025
Preferred units redemption price							25.00					$ 25.00
Conversion of units (in units)												6,000
Common Units
Partnership Equity
Conversion of units (in units)												7,810
Limited Partners
Partnership Equity
Aggregate offering price						$ 750,000
Limited Partners \| 2019 Common Units \| At The Market Issuance Sales Agreement
Partnership Equity
Aggregate offering price		$ 50,000
Issuance of units, net (in shares)												109,724
Proceeds from issuance of unit, before costs												$ 1,800
Limited Partners \| 2020 Common Units \| At The Market Issuance Sales Agreement
Partnership Equity
Aggregate offering price	$ 50,000
Issuance of units, net (in shares)												0
Limited Partners \| Preferred Units Series B
Partnership Equity
Issuance of units, net (in shares)								84,000			67,000
Limited Partners \| Preferred Units Series B \| At The Market Issuance Sales Agreement
Partnership Equity
Aggregate offering price					$ 50,000
Issuance of units, net (in shares)												84,139
Proceeds from issuance of unit, before costs												$ 2,100
Limited Partners \| 2019 Series A ATM Program \| At The Market Issuance Sales Agreement
Partnership Equity
Issuance of units, net (in shares)												23,287
Proceeds from issuance of unit, before costs												$ 600
Limited Partners \| Preferred Units Series C
Partnership Equity
Distribution date												May 15, 2018
Distribution Per Unit Paid (in dollars per share)			$ 0.2090
Conversion of units (in units)												(6,000)	(200)
Limited Partners \| Preferred Units Series C \| Distributions Accruing After May 15, 2025
Partnership Equity
Dividend rate (as a percent)												9.00%
Limited Partners \| Preferred Units Series C \| Three-month LIBOR \| Distributions Accruing Before May 15, 2025
Partnership Equity
Dividend rate (as a percent)												4.698%
Stated liquidation preference / redemption price (in dollars per share)							$ 25.00					$ 25.00
Limited Partners \| Preferred Units Series C \| Minimum \| Distributions Accruing Before May 15, 2025
Partnership Equity
Dividend rate (as a percent)												7.00%
Limited Partners \| Preferred Units Series C \| Public Offering
Partnership Equity
Issuance of units, net (in shares)				2,000,000
Unit offering price (in dollars per share)				$ 25.00
Proceeds from the issuance of Preferred Units, net				$ 47,500
Offering expenses paid				$ 2,500
Limited Partners \| Common Units
Partnership Equity
Issuance of units, net (in shares)								110,000
Conversion of units (in units)												7,810	260

Equity - Summary of Quarterly Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019
Common Units and IDRs
Quarter Ended
Declaration Date	Jul. 24, 2020	Apr. 21, 2020	Jan. 24, 2020	Oct. 25, 2019	Jul. 19, 2019
Distribution Date	Aug. 14, 2020	May 15, 2020	Feb. 14, 2020	Nov. 14, 2019	Aug. 14, 2019
Distribution Per Unit Paid (in dollars per share)	$ 0.2000	$ 0.2000	$ 0.3675	$ 0.3675	$ 0.3675
Total Distribution Paid	$ 5,096	$ 5,096	$ 9,360	$ 9,317	$ 9,312
Preferred Units Series A
Quarter Ended
Declaration Date	Jun. 19, 2020	Mar. 20, 2020	Dec. 20, 2019	Sep. 20, 2019	Jun. 20, 2019
Distribution Date	Jul. 15, 2020	Apr. 15, 2020	Jan. 15, 2020	Oct. 15, 2019	Jul. 15, 2019
Distribution Per Unit Paid (in dollars per share)	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000
Total Distribution Paid	$ 873	$ 873	$ 861	$ 837	$ 828
Preferred Units Series B
Quarter Ended
Declaration Date	Jul. 22, 2020	Apr. 20, 2020	Jan. 23, 2020	Oct. 22, 2019	Jul. 19, 2019
Distribution Date	Aug. 17, 2020	May 15, 2020	Feb. 18, 2020	Nov. 15, 2019	Aug. 15, 2019
Distribution Per Unit Paid (in dollars per share)	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938
Total Distribution Paid	$ 1,298	$ 1,298	$ 1,298	$ 1,257	$ 1,257
Preferred Units Series C
Quarter Ended
Declaration Date	Jul. 22, 2020	Apr. 20, 2020	Jan. 23, 2020	Oct. 22, 2019	Jul. 19, 2019
Distribution Date	Aug. 17, 2020	May 15, 2020	Feb. 18, 2020	Nov. 15, 2019	Aug. 15, 2019
Distribution Per Unit Paid (in dollars per share)	$ 0.4375	$ 0.4375	$ 0.4375	$ 0.4375	$ 0.4510
Total Distribution Paid	$ 867	$ 867	$ 870	$ 870	$ 902

Net Income (Loss) Per Limited Partner Unit - Undistributed Net Income (Loss) Attributable to Common Unitholders (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Income (loss) from continuing operations

^[1]

$ 3,777,000

$ 9,153,000

$ (250,000)

$ 16,197,000

Less: Net income attributable to noncontrolling interest

^[1]

8,000

16,000

Income (loss) from continuing operations attributable to limited partners

3,769,000

9,145,000

(266,000)

16,181,000

Net income attributable to limited partners

^[1]

14,856,000

112,000

17,511,000

278,000

^[1]

18,625,000

9,257,000

17,245,000

16,459,000

Less: Distributions declared

^[1]

(3,037,000)

(3,021,000)

(6,097,000)

(5,915,000)

Accretion of Series C preferred units

^[1]

(197,000)

(394,000)

(96,000)

(94,000)

(193,000)

(450,000)

Undistributed income from discontinued operations

^[1]

15,492,000

5,945,000

10,955,000

9,700,000

14,856,000

112,000

17,511,000

278,000

Undistributed loss from continuing operations

(4,460,000)

(3,479,000)

(16,748,000)

(9,202,000)

(197,000)

(394,000)

Preferred Units

Less: Distributions declared

(3,037,000)

(3,021,000)

(6,097,000)

(5,915,000)

Common Units

Less: Distributions declared

(5,096,000)

(9,312,000)

(10,192,000)

(18,624,000)

Undistributed net income (loss)

15,492,000

5,945,000

10,955,000

9,700,000

10,396,000

(3,367,000)

763,000

(8,924,000)

Undistributed loss from continuing operations

$ (4,460,000)

$ (3,479,000)

$ (16,748,000)

$ (9,202,000)

[1]

Net Income (Loss) Per Limited Partner Unit - Undistributed Net Income (Loss) Attributable to Common Unitholders (Parenthetical) (Details) - USD ($)

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Limited Partners Capital Account [Line Items]

Incentive distribution rights and incentive allocations

^[1]

$ 197,000

$ 394,000

Limited Partners Capital Account [Line Items]

Incentive distribution rights and incentive allocations

$ 0

$ 197,000

$ 0

$ 394,000

[1]

Net Income per Limited Partner Unit - Net Income (Loss) per Common Unit (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Undistributed net loss from continuing operations

Distributions declared

^[1]

$ 3,037

$ 3,021

$ 6,097

$ 5,915

(4,460)

(3,479)

(16,748)

(9,202)

Units - diluted (in shares)

^[1]

$ 15,492

$ 5,945

$ 10,955

$ 9,700

Weighted-average units outstanding:

Basic (in shares)

^[1]

25,476

25,339

25,468

25,338

^[1]

25,476

25,339

25,468

25,338

Income (loss) from continuing operations per common unit

Basic

^[1]

$ 0.02

$ 0.23

$ (0.26)

$ 0.37

Diluted

^[1]

0.02

0.23

(0.26)

0.37

Weighted average common units outstanding

Basic (in dollars per share)

^[1]

0.61

0.23

0.43

0.38

Diluted (in dollars per share)

^[1]

$ 0.61

$ 0.23

$ 0.43

$ 0.38

Common Units

Undistributed net loss from continuing operations

Distributions declared

$ 5,096

$ 9,312

$ 10,192

$ 18,624

(4,460)

(3,479)

(16,748)

(9,202)

Income (loss) from continuing operations attributable to common units - basic

636

5,833

(6,556)

9,422

Income from discontinued operations attributable to common units - basic

14,856

112

17,511

278

Income (loss) from continuing operations attributable to common units - diluted

15,492

5,945

10,955

9,700

636

5,833

(6,556)

9,422

Income from discontinued operations attributable to common units - diluted

14,856

112

17,511

278

Net income attributable to common units - diluted

$ 15,492

$ 5,945

$ 10,955

$ 9,700

Weighted-average units outstanding:

Basic (in shares)

25,476

25,339

25,468

25,338

Units - diluted (in shares)

25,476

25,339

25,468

25,338

Income (loss) from continuing operations per common unit

Basic

$ 0.02

$ 0.23

$ (0.26)

$ 0.37

Diluted

0.02

0.23

(0.26)

0.37

Income (loss) from discontinued operations per common unit:

Basic

0.58

0.69

0.01

Diluted

0.58

0.69

0.01

Weighted average common units outstanding

Basic (in dollars per share)

0.61

0.23

0.43

0.38

Diluted (in dollars per share)

$ 0.61

$ 0.23

$ 0.43

$ 0.38

[1]

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Carrying Amount
Investment in receivables, net
Investment in receivables, net	$ 5,380	$ 5,653
Carrying Amount \| Senior secured revolving credit facility
Debt
Revolving credit facility	58,000	179,500
Carrying Amount \| Secured notes
Debt
Secured Notes, net	278,377	217,098
Fair Value
Investment in receivables, net
Investment in receivables, net	5,396	5,650
Fair Value \| Senior secured revolving credit facility
Debt
Revolving credit facility	58,000	179,500
Fair Value \| Secured notes
Debt
Secured Notes, net	$ 278,929	$ 221,577

Fair Value of Financial Instruments - Assets and Liabilities Carried at Fair Value (Details) - USD ($)
$ in Thousands

Jun. 30, 2020

Dec. 31, 2019

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Derivative Liabilities

$ 3,908

$ 1,474

^[1]

Recurring | Level 2 inputs

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Derivative Liabilities

$ 3,908

$ 1,474

[1]

Related-Party Transactions (Details)

3 Months Ended

6 Months Ended

Jan. 15, 2020

Nov. 30, 2017

Jun. 30, 2020

USD ($)

Jun. 30, 2019

USD ($)

Mar. 31, 2019

USD ($)

Jun. 30, 2020

USD ($)

item

$ / shares

$ / property

Jun. 30, 2019

USD ($)

Dec. 31, 2019

USD ($)

3.90%

Due from Landmark and affiliates

$ 197,000

$ 394,000

$ 2,058,000

$ 1,132,000

^[1]

4.38% Senior Secured Notes

Maximum | 2018 Secured Notes | Unconsolidated Joint Venture

4.38%

Operating revenue per tenant site | $ / property

Incentive Distribution Rights

Incentive distribution and allocations waived amount

$ 0

200,000

$ 0

400,000

Threshold percentage per unit per quarter (in dollars per share) | $ / shares

$ 0.2875

Incentive Distribution Rights | Maximum

$ 0

Percentage of available cash

50.00%

Landmark, General Partner and affiliates

Due from Landmark and affiliates

2,100,000

$ 2,100,000

$ 1,100,000

Landmark, General Partner and affiliates | Capped reimbursement for certain general and administrative expenses

Percentage of revenue (as a percent)

3.00%

Expiration of quarterly cap, measurement period, number of consecutive fiscal quarters (in periods) | item

Expiration of quarterly cap, measurement period, minimum revenue

$ 120,000,000

Reimbursement of expenses that exceeded the cap

1,000,000.0

1,900,000

2,000,000.0

Management fees related to unconsolidated joint venture not subject to cap

100,000

Landmark, General Partner and affiliates | Capped reimbursement for certain general and administrative expenses | Maximum

Reimbursement of expenses that exceeded the cap

900,000

Management fees related to unconsolidated joint venture not subject to cap

100,000

American Infrastructure Funds | Patent License Agreement Fees

Fee for second year of agreement (in dollars per year)

$ 50,000

Maximum fee each year starting in third year of agreement, as a percentage of our gross revenue

0.10%

Minimum fee each year starting in third year of agreement (in dollars per year)

$ 100,000

License fees related to agreement

$ 25,000

$ 50,000

Type of Cost, Good or Service [Extensible List]

us-gaap:LicenseMember

General Partner | 4.38% Senior Secured Notes

2.00%

0.50%

General Partner | Secured Notes Management Agreement

4.38%

General Partner | Secured Notes Management Agreement | 2018 Secured Notes | Unconsolidated Joint Venture

1.50%

General Partner | Management fees

1.50%

General Partner | Management fees | 2018 Secured Notes | Unconsolidated Joint Venture

$ 100,000

$ 200,000

General Partner | Management fees | Maximum

$ 100,000

200,000

Landmark Dividend LLC | Management fees

$ 100,000

$ 0

[1]

Segment Information - General Information (Details) - segment	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2020
Segment Reporting [Abstract]
Number of reportable segments	3	4

Segment Information - Statements of Operations (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Revenue

^[1]

$ 13,844

$ 13,687

$ 27,665

$ 26,902

Expenses

General and administrative

^[1]

354

270

863

856

^[1]

1,223

1,455

2,711

2,924

Acquisition-related

^[1]

162

204

^[1]

4,301

3,259

7,903

6,615

^[1]

102

184

204

6,066

5,146

11,752

10,803

Income from continuing operations before income tax expense (benefit)

^[1]

(4,091)

3,724

(16,498)

3,220

^[1]

3,687

12,265

(585)

19,319

Income tax expense (benefit)

^[1]

(90)

3,112

(335)

3,122

^[1]

3,777

9,153

(250)

16,197

^[1]

14,856

112

17,511

278

Operating Segments | Wireless Communication

^[1]

18,633

9,265

17,261

16,475

Revenue

6,344

6,413

12,671

12,789

Expenses

210

2,342

2,026

4,266

4,098

2,506

2,050

4,554

4,137

Income from continuing operations before income tax expense (benefit)

762

5,135

1,068

5,193

4,600

9,498

9,185

13,845

4,600

9,498

9,185

13,845

Operating Segments | Outdoor Advertising

4,600

9,498

9,185

13,845

Revenue

3,790

3,885

7,807

7,784

Expenses

159

373

362

1,278

824

2,274

1,650

106

204

Income from continuing operations before income tax expense (benefit)

1,461

983

2,753

2,216

2,329

2,902

5,054

5,568

2,329

2,902

5,054

5,568

14,856

112

17,511

278

Operating Segments | Renewable Power Generation

17,185

3,014

22,565

5,846

Revenue

2,153

2,401

4,073

4,477

Expenses

359

120

240

289

148

128

304

648

Income from continuing operations before income tax expense (benefit)

6,814

7,019

2,025

9,087

3,809

10,848

2,025

9,087

3,809

10,848

Operating Segments | Digital Infrastructure

2,025

9,087

3,809

10,848

Revenue

1,557

988

3,114

1,852

Expenses

216

561

289

1,123

578

642

368

1,339

674

Income from continuing operations before income tax expense (benefit)

5,878

915

620

1,775

7,056

915

620

1,775

7,056

General and administrative

915

620

1,775

7,056

Corporate

Expenses

1,223

1,455

2,711

2,924

Acquisition-related

162

204

1,309

1,617

2,802

3,128

Income from continuing operations before income tax expense (benefit)

(4,873)

(8,225)

(17,606)

(14,870)

(6,182)

(9,842)

(20,408)

(17,998)

Income tax expense (benefit)

(90)

3,112

(335)

3,122

(6,092)

(12,954)

(20,073)

(21,120)

Segment Reporting Asset Reconciling Item [Line Items]

$ (6,092)

$ (12,954)

$ (20,073)

$ (21,120)

[1]

Segment Information - Total Assets (Details) - USD ($)
$ in Thousands

Jun. 30, 2020

Dec. 31, 2019

Segment Reporting Asset Reconciling Item [Line Items]

$ 735,394

$ 855,605

^[1]

Corporate

Wireless Communication | Operating Segments

18,372

133,819

Segment Reporting Asset Reconciling Item [Line Items]

Outdoor Advertising | Operating Segments

356,927

385,848

Segment Reporting Asset Reconciling Item [Line Items]

Renewable Power Generation | Operating Segments

195,076

169,803

Segment Reporting Asset Reconciling Item [Line Items]

Digital Infrastructure | Operating Segments

99,799

99,856

Segment Reporting Asset Reconciling Item [Line Items]

Segment Reporting Asset Reconciling Item [Line Items]

$ 65,220

$ 66,279

[1]

Segment Information - Schedule of Rental Revenues by Geographic Location (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 30, 2020

Jun. 30, 2019

Jun. 30, 2020

Jun. 30, 2019

Segment Reporting Asset Reconciling Item [Line Items]

^[1]

$ 13,844

$ 13,687

$ 27,665

$ 26,902

United States

Segment Reporting Asset Reconciling Item [Line Items]

13,534

13,329

27,052

26,231

Australia

Segment Reporting Asset Reconciling Item [Line Items]

292

344

576

643

Canada

Segment Reporting Asset Reconciling Item [Line Items]

$ 18

$ 14

$ 37

$ 28

[1]

Segment Information - Schedule of Total Assets by Geographic Location (Details) - USD ($)
$ in Thousands

Jun. 30, 2020

Dec. 31, 2019

Segment Reporting Asset Reconciling Item [Line Items]

$ 735,394

$ 855,605

^[1]

United States

Segment Reporting Asset Reconciling Item [Line Items]

719,624

726,391

Europe

Segment Reporting Asset Reconciling Item [Line Items]

114,400

Australia

Segment Reporting Asset Reconciling Item [Line Items]

15,065

13,926

Canada