Landmark Infrastructure Partners (LMRK) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 01, 2019
Document Information [Line Items]
Entity Registrant Name	Landmark Infrastructure Partners LP
Entity Central Index Key	0001615346
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Limited Partners Units		25,353,140
Entity Shell Company	false
Entity File Number	001-36735
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1742322
Entity Address, Address Line One	400 Continental Blvd.
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	El Segundo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90245
City Area Code	310
Local Phone Number	598-3173
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Common Units
Document Information [Line Items]
Title of each class	Common Units, Representing Limited Partner Interests
Trading Symbol	LMRK
Name of each exchange on which registered	NASDAQ
8.0% Series A Cumulative Redeemable Preferred Units
Document Information [Line Items]
Title of each class	8.0% Series A Cumulative Redeemable Preferred Units, $25.00 par value
Trading Symbol	LMRKP
Name of each exchange on which registered	NASDAQ
7.9% Series B Cumulative Redeemable Preferred Units
Document Information [Line Items]
Title of each class	7.9% Series B Cumulative Redeemable Preferred Units, $25.00 par value
Trading Symbol	LMRKO
Name of each exchange on which registered	NASDAQ
Series C Floating-to-Fixed Rate Cumulative Redeemable Perpetual Convertible Preferred Units
Document Information [Line Items]
Title of each class	Series C Floating-to-Fixed Rate Cumulative Redeemable Perpetual Convertible Preferred Units, $25.00 par value
Trading Symbol	LMRKN
Name of each exchange on which registered	NASDAQ

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets
Land	$ 136,221	$ 128,302
Real property interests	523,303	517,423
Construction in progress	58,507	29,556
Total land and real property interests	718,031	675,281
Accumulated amortization real property interests	(46,753)	(39,069)
Land and net real property interests	671,278	636,212
Investments in receivables, net	8,741	18,348
Investment in unconsolidated joint venture	62,524	65,670
Cash and cash equivalents	4,920	4,108
Restricted cash	5,417	3,672
Rent receivables, net	5,098	4,292
Due from Landmark and affiliates	1,876	1,390
Deferred loan costs, net	4,854	5,552
Deferred rent receivable	5,970	5,251
Derivative assets		4,590
Other intangible assets, net	19,469	20,839
Assets held for sale (AHFS)	392	7,846
Other assets	13,467	8,843
Total assets	804,006	786,613
Liabilities and equity
Revolving credit facility	175,313	155,000
Secured notes, net	219,535	223,685
Accounts payable and accrued liabilities	8,922	7,435
Other intangible liabilities, net	7,923	9,291
Liabilities associated with AHFS		397
Lease liability	10,076
Prepaid rent	5,549	5,418
Derivative liabilities	4,765	402
Total liabilities	432,083	401,628
Commitments and contingencies (Note 15)
Equity
Accumulated other comprehensive loss	(6,459)	(2,806)
Total partners' equity	324,151	337,476
Noncontrolling interests	201	201
Total equity	324,352	337,677
Total liabilities, mezzanine equity and equity	804,006	786,613
Limited Partners | Preferred Units Series C
Mezzanine equity
Limited partners	47,571	47,308
Limited Partners | Preferred Units Series A
Equity
Limited partners	39,018	37,207
Limited Partners | Preferred Units Series B
Equity
Limited partners	60,926	58,936
Total equity	60,926	58,936
Limited Partners | Common Units
Equity
Limited partners	394,036	411,158
Total equity	394,036	411,158
General Partner
Equity
General Partner	(163,370)	(167,019)
Total equity	$ (163,370)	$ (167,019)

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - Limited Partners - shares	Sep. 30, 2019	Dec. 31, 2018
Preferred Units Series C
Temporary equity, preferred units
Preferred units issued (in shares)	1,988,700,000	2,000,000,000
Preferred units outstanding (in shares)	1,988,700,000	2,000,000,000
Preferred Units Series A
Preferred units
Preferred units issued (in shares)	1,674,156,000	1,593,149,000
Preferred units outstanding (in shares)	1,674,156,000	1,593,149,000
Preferred Units Series B
Preferred units
Preferred units issued (in shares)	2,544,793,000	2,463,015,000
Preferred units outstanding (in shares)	2,544,793,000	2,463,015,000
Common Units
Common and subordinated units
Units issued (in shares)	25,353,140,000	25,327,801,000
Units outstanding (in shares)	25,353,140,000	25,327,801,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue
Rental revenue	$ 14,402	$ 17,560	$ 43,820	$ 50,051
Expenses
Property operating	435	360	1,505	875
General and administrative	1,288	735	4,269	3,523
Acquisition-related	119	88	614	469
Amortization	3,395	4,293	10,368	12,548
Impairments	442	877	646	980
Total expenses	5,679	6,353	17,402	18,395
Other income and expenses
Interest and other income	198	434	764	1,280
Interest expense	(4,259)	(6,906)	(13,439)	(19,586)
Unrealized gain (loss) on derivatives	(2,188)	774	(8,963)	5,208
Equity income from unconsolidated joint venture	154	59	263	59
Gain on sale of real property interests	473	100,039	18,008	100,039
Foreign currency transaction gain	1,113		1,045
Total other income and expenses	(4,509)	94,400	(2,322)	87,000
Income before income tax expense	4,214	105,607	24,096	118,656
Income tax expense	228	460	3,635	663
Net income	3,986	105,147	20,461	117,993
Less: Net income attributable to noncontrolling interest	7	8	23	20
Net income attributable to limited partners	3,979	105,139	20,438	117,973
Less: Distributions declared to preferred unitholders	(2,985)	(2,868)	(8,900)	(7,742)
Less: General partner's incentive distribution rights	(197)	(197)	(591)	(587)
Net income attributable to common and subordinated unitholders	$ 701	$ 102,074	$ 10,401	$ 109,644
Net income (loss) per common and subordinated unit
Common units – basic	$ 0.03	$ 4.06	$ 0.41	$ 4.51
Common units – diluted	$ 0.03	$ 3.71	$ 0.41	4.18
Subordinated units – basic and diluted				$ (0.59)
Weighted average common and subordinated units outstanding
Common units – basic	25,341	25,138	25,339	24,405
Common units – diluted	25,341	27,741	25,339	26,658
Subordinated units – basic and diluted				517
Cash distributions declared per common and subordinated unit	$ 0.3675	$ 0.3675	$ 1.1025	$ 1.1025
Preferred Units Series C
Other income and expenses
Less: Accretion of Series C preferred units	$ (96)		$ (546)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 3,986	$ 105,147	$ 20,461	$ 117,993
Other comprehensive income:
Foreign currency translation adjustment	(2,981)	(1,035)	(3,653)	(2,317)
Other comprehensive income	(2,981)	(1,035)	(3,653)	(2,317)
Comprehensive income	1,005	104,112	16,808	115,676
Less: Comprehensive income attributable to noncontrolling interest	7	8	23	20
Comprehensive income attributable to limited partners	$ 998	$ 104,104	$ 16,785	$ 115,656

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY AND MEZZANINE EQUITY - USD ($) $ in Thousands	Total	Common Units	Preferred Units Series C	Limited PartnersCommon Units	Limited PartnersSubordinated Units	Limited PartnersPreferred Units Series A	Limited PartnersPreferred Units Series B	Limited PartnersPreferred Units Series C	General Partner	Accumulated Other Comprehensive Income (loss)	Noncontrolling Interest
Balance at Dec. 31, 2017	$ 254,358			$ 288,527	$ 19,641	$ 36,604	$ 58,936		$ (150,519)	$ 968	$ 201
Balance (in units) at Dec. 31, 2017				20,146,458	3,135,109	1,568,402	2,463,015
Increase (decrease) in partners' capital
Net investment of Drop-down Assets	(20,394)								(20,394)
Foreign currency translation adjustment	1,038									1,038
Issuance of Preferred Units, net	603					$ 603
Issuance of Preferred Units, net (in units)				1,721,000		25,000
Issuance of Common Units, net	30,926			$ 30,926
Conversion of subordinated units				$ 18,186	$ (18,186)
Conversion of subordinated units (in units)				3,135,000	(3,135,000)
Distributions	(11,361)			$ (7,959)	$ (1,152)	$ (768)	$ (1,176)		(302)		(4)
Capital contribution from Sponsor	1,202								1,202
Unit-based compensation	70			$ 70
Unit-based compensation (in units)				4,000
Net income (loss)	6,741			$ 4,901	(303)	768	1,176		195		4
Balance at Mar. 31, 2018	263,183			$ 334,651		$ 37,207	$ 58,936		(169,818)	2,006	201
Balance (in units) at Mar. 31, 2018				25,006,000		1,593,000	2,463,000
Balance at Dec. 31, 2017	254,358			$ 288,527	$ 19,641	$ 36,604	$ 58,936		(150,519)	968	201
Balance (in units) at Dec. 31, 2017				20,146,458	3,135,109	1,568,402	2,463,015
Increase (decrease) in partners' capital
Foreign currency translation adjustment	(2,317)
Conversion of subordinated units (in units)				3,135,109	(3,135,109)
Other deemed contributions	197
Unit-based compensation (in units)				3,826
Balance at Sep. 30, 2018	350,921			$ 424,875		$ 37,207	$ 58,936		(168,949)	(1,349)	201
Balance (in units) at Sep. 30, 2018				25,266,060		1,593,149	2,463,015	2,000,000
Temporary equity, Balance at Sep. 30, 2018								$ 47,534
Balance at Mar. 31, 2018	263,183			$ 334,651		$ 37,207	$ 58,936		(169,818)	2,006	201
Balance (in units) at Mar. 31, 2018				25,006,000		1,593,000	2,463,000
Increase (decrease) in partners' capital
Foreign currency translation adjustment	(2,320)									(2,320)
Issuance of Preferred Units, net (in units)				125,000
Issuance of Common Units, net	1,773			$ 1,773
Distributions	(11,453)			(9,189)		$ (806)	$ (1,256)		(194)		(8)
Capital contribution from Sponsor	578								578
Net income (loss)	5,237			2,972		806	1,256		195		8
Balance at Jun. 30, 2018	256,998			$ 330,207		$ 37,207	$ 58,936		(169,239)	(314)	201
Balance (in units) at Jun. 30, 2018				25,131,000		1,593,000	2,463,000
Increase (Decrease) in temporary equity
Temporary equity, Issuance of Preferred Units, net								47,534
Temporary equity, Distributions								(868)
Temporary equity, Net income (loss)								868
Temporary equity, Balance at Jun. 30, 2018								$ 47,534
Increase (decrease) in partners' capital
Foreign currency translation adjustment	(1,035)									(1,035)
Issuance of Preferred Units, net (in units)				135,000
Issuance of Common Units, net	1,830			$ 1,830
Distributions	(11,637)			(9,236)		$ (796)	$ (1,204)		(393)		(8)
Capital contribution from Sponsor	289								289
Other deemed contributions	197								197
Net income (loss)	104,279			102,074		796	1,204		197		8
Balance at Sep. 30, 2018	350,921			$ 424,875		$ 37,207	$ 58,936		(168,949)	(1,349)	201
Balance (in units) at Sep. 30, 2018				25,266,060		1,593,149	2,463,015	2,000,000
Increase (Decrease) in temporary equity
Temporary equity, Distributions								$ (868)
Temporary equity, Net income (loss)								868
Temporary equity, Balance at Sep. 30, 2018								$ 47,534
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
Increase (decrease) in partners' capital
Foreign currency translation adjustment	1,743									1,743
Distributions	(11,494)			$ (9,312)		$ (788)	$ (1,189)		(197)		(8)
Capital contribution from Sponsor	994								994
Other deemed contributions	197								197
Unit-based compensation	130			$ 130
Unit-based compensation (in units)				10,000
Net income (loss)	5,937			$ 3,755		788	1,189		197		8
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
Temporary equity, Balance at Dec. 31, 2018								$ 47,308
Increase (Decrease) in temporary equity
Temporary equity, Distributions								(917)
Temporary equity, Net income (loss)								1,273
Temporary equity, Balance at Mar. 31, 2019								$ 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
Increase (decrease) in partners' capital
Foreign currency translation adjustment	(3,653)
Conversion of subordinated units (in units)		14,708	11,300	14,708				(11,300)
Conversion of Preferred Units			$ 283
Other deemed contributions	591
Unit-based compensation (in units)				10,631
Balance at Sep. 30, 2019	324,352			$ 394,036		$ 39,018	$ 60,926		(163,370)	(6,459)	201
Balance (in units) at Sep. 30, 2019				25,353,140		1,674,156	2,544,793	1,988,700
Temporary equity, Balance at Dec. 31, 2018								$ 47,308
Temporary equity, Balance at Sep. 30, 2019								47,571
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
Increase (decrease) in partners' capital
Foreign currency translation adjustment	(2,415)									(2,415)
Issuance of Preferred Units, net	2,898					$ 1,259	$ 1,639
Issuance of Preferred Units, net (in units)						57,000	67,000
Conversion of Preferred Units	5			$ 5
Conversion of Preferred Units (in units)				1,000
Distributions	(11,606)			$ (9,312)		$ (829)	$ (1,260)		(197)		(8)
Capital contribution from Sponsor	1,134								1,134
Other deemed contributions	197								197
Net income (loss)	8,239			5,945		829	1,260		197		8
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				25,339,000		1,650,000	2,530,000
Temporary equity, Balance at Mar. 31, 2019								47,664
Increase (Decrease) in temporary equity
Temporary equity, Conversion of Preferred Units								(5)
Temporary equity, Distributions								(933)
Temporary equity, Net income (loss)								1,026
Temporary equity, Balance at Jun. 30, 2019								$ 47,752
Increase (decrease) in partners' capital
Foreign currency translation adjustment	(2,981)									(2,981)
Issuance of Preferred Units, net	903					$ 552	$ 351
Issuance of Preferred Units, net (in units)						24,000	15,000
Conversion of Preferred Units	278			$ 278
Conversion of Preferred Units (in units)				14,000
Distributions	(11,614)			$ (9,312)		$ (838)	$ (1,260)		(197)		(7)
Capital contribution from Sponsor	930								930
Other deemed contributions	197								197
Net income (loss)	3,003			701		838	1,260		197		7
Balance at Sep. 30, 2019	$ 324,352			$ 394,036		$ 39,018	$ 60,926		$ (163,370)	$ (6,459)	$ 201
Balance (in units) at Sep. 30, 2019				25,353,140		1,674,156	2,544,793	1,988,700
Increase (Decrease) in temporary equity
Temporary equity, Conversion of Preferred Units								$ (278)
Temporary equity, Distributions								(886)
Temporary equity, Net income (loss)								983
Temporary equity, Balance at Sep. 30, 2019								$ 47,571

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Operating activities
Net income	$ 3,986		$ 105,147	$ 20,461	$ 117,993
Adjustments to reconcile net income to net cash provided by operating activities:
Unit-based compensation				130	70
Unrealized (gain) loss on derivatives	2,188		(774)	8,963	(5,208)
Amortization expense	3,395		4,293	10,368	12,548
Amortization of above- and below- market lease, net	(200)		(300)	(654)	(1,008)
Amortization of deferred loan costs				2,029	2,724
Amortization of discount on secured notes				279	280
Receivables interest accretion				(9)		$ (3)
Impairments	442		877	646	980
Gain on sale of real property interests	(473)		(100,039)	(18,008)	(100,039)
Allowance for doubtful accounts				107	(23)
Equity income from unconsolidated joint venture	(154)		(59)	(263)	(59)
Return on investment in unconsolidated joint venture				2,883
Foreign currency transaction gain				(1,045)
Changes in operating assets and liabilities:
Rent receivables, net				(462)	123
Accounts payable and accrued liabilities				2,704	414
Deferred rent				414	177
Prepaid rent				139	1,005
Due from Landmark and affiliates				(569)	61
Other assets				(6,159)	1,031
Net cash provided by operating activities				21,954	31,069
Investing activities
Acquisition of land				(9,754)	(15,573)
Acquisition of real property interests and development activities				(41,710)	(85,411)
Proceeds from sale of real property interests				46,107	64,036
Repayments of receivables				430	915	1,108
Net cash used in investing activities				(4,927)	(36,033)
Financing activities
Proceeds from the issuance of Common Units, net					437
Proceeds from the issuance of Preferred Units, net				1,811	48,137
Proceeds from revolving credit facility				97,931	105,500
Proceeds from the issuance of secured notes					169,128
Principal payments on revolving credit facility				(76,500)	(269,000)
Principal payments on secured notes				(5,528)	(3,995)
Deferred loan costs				(232)	(6,233)
Capital contribution to fund general and administrative expense reimbursement				2,892	2,271
Distributions to non-controlling interests				(23)	(20)
Consideration associated with Drop-down Acquisitions					(20,394)
Net cash used in financing activities				(14,436)	(9,717)
Effect of changes in foreign currency exchange rates on cash, cash equivalents and restricted cash				(34)	(67)
Net increase (decrease) in cash, cash equivalents and restricted cash				2,557	(14,748)
Cash, cash equivalents and restricted cash at beginning of the period		$ 13,112		7,780	27,860	27,860
Cash, cash equivalents and restricted cash at end of the period	$ 10,337	$ 7,780	$ 13,112	10,337	13,112	$ 7,780
Limited Partners | Preferred Units
Financing activities
Distributions to limited partners				(8,841)	(7,320)
Limited Partners | Common and Subordinated Units
Financing activities
Distributions to limited partners				(27,936)	$ (28,228)
Series B Preferred Units
Financing activities
Proceeds from the issuance of Preferred Units, net				$ 1,990

Business

Business	9 Months Ended
	Sep. 30, 2019
Limited Liability Company Or Limited Partnership Business Organization And Operations [Abstract]
Business	1. Business Landmark Infrastructure Partners LP (the “Partnership”) was formed on July 28, 2014 by Landmark Dividend LLC (“Landmark” or “Sponsor”) to acquire, own and manage a portfolio of real property interest and infrastructure assets that are leased to companies in the wireless communication, outdoor advertising and renewable power generation industries. The Partnership is a master limited partnership organized in the State of Delaware and has been publicly traded since its initial public offering on November 19, 2014 (the “IPO”). On July 31, 2017, the Partnership completed changes to its organizational structure by transferring substantially all of its assets to a consolidated subsidiary, Landmark Infrastructure Inc., a Delaware corporation (“REIT Subsidiary”), which elected to be taxed as a REIT commencing with its taxable year ending December 31, 2017. References in this report to “Landmark Infrastructure Partners LP,” the “partnership,” “we,” “our,” “us,” or like terms refer to Landmark Infrastructure Partners LP. Our operations are managed by the board of directors and executive officers of Landmark Infrastructure Partners GP LLC, our general partner (the “General Partner”). As of September 30, 2019, the Sponsor and affiliates own (a) our general partner; (b) 3,415,405 common units representing limited partnership interest in the Partnership (“Common Units”); and (c) all of our incentive distribution rights (“IDRs”).

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
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 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 nine months ended September 30, 2019 and 2018 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 nine months ended September 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. 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 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 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. 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 conducts certain activities that may not generate qualifying income and will be treated as a corporation for U.S. federal income tax purposes. 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 follows the requirements of ASC Topic 740, Income Taxes 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. 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 June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses Codification Improvements to Topic 326, Financial Instruments – Credit Losses In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In March 2018, the FASB approved an optional practical expedient that would allow lessors to elect, by class of underlying asset, to not separate nonlease components from the related lease components. The practical expedient is limited to circumstances in which both (1) the timing and pattern of revenue recognition are the same for the nonlease component and related lease component and (2) the combined single lease component would be classified as an operating lease. If a lessee makes payments for taxes and insurance directly to a third party on behalf of a lessor, lessors are required to exclude them from variable payments and from recognition in the lessors’ income statements. Otherwise, tenant recoveries for taxes and insurance are classified as additional lease revenue recognized by the lessor on a gross basis in their income statements. The FASB has also clarified that the lease ASU will require an assessment of whether a land easement meets the definition of a lease under the new lease ASU. An entity with land easements that are not accounted for as leases under the current lease accounting standards, however, may elect a practical expedient to exclude those land easements from assessment under the new lease accounting standards (ASU No 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842) The Partnership adopted the guidance as of January 1, 2019. We elected to adopt the following practical expedients provided by these ASUs: • Package of practical expedients – requires us to not reevaluate our existing or expired leases as of January 1, 2019, under the new lease accounting ASUs. The election of the package of practical expedients allowed us to not reassess whether any expired or existing contracts are or contain leases and not reassess lease classification for any expired or existing leases that commenced prior to January 1, 2019. The package of practical expedients also allowed an entity to not reassess initial direct costs for any existing leases. The Partnership has not incurred such initial direct costs for leases. Consequently, the adoption of the new lease ASUs had no effect on our accounting of initial direct cost on January 1, 2019. • Optional transition method practical expedient – requires us to apply the new lease ASUs prospectively from the adoption date of January 1, 2019. • Land easements practical expedient – requires us to account for land easements existing as of January 1, 2019, under the accounting standards applied to them prior to January 1, 2019. The Partnership’s land easements are primarily prepaid and included on the Consolidated Balance Sheets in real property interest, the impact of the adoption of the easement related provisions does not have a significant impact on our Consolidated Financial Statements. • Single component practical expedient – requires us to account for lease and nonlease components associated with that lease under the new lease ASUs, if certain criteria are met. Our operating leases commencing or modified after January 1, 2019, for which we are the lessor are expected to qualify for the single component practical expedient accounting. • Short-term leases practical expedient – for our operating leases with a term of 12 months or less in which we are the lessee, this expedient requires us to not record on our balance sheets related lease liabilities and right-of-use assets. For acquisitions subsequent to the adoption of the new lease ASUs on January 1, 2019, the Partnership evaluates whether an easement meets the definition of a lease under the new lease ASU. The Partnership determines if an arrangement is a lease at the inception of the agreement. The Partnership considers an arrangement to be a lease if it conveys the right to control the use of the leased site or ground space underneath a leased site for a period of time in exchange for consideration. The Partnership is both a lessor and a lessee. While most of our leases are and will continue to be classified as operating leases in which the Partnership is the lessor, the Partnership is the lessee in an insignificant population of leases that have recurring ground lease rental payments. We applied the modified retrospective transition method and practical expedients mentioned above to all leases existing at January 1, 2019. The adoption of ASC 842 resulted in the recognition of right-of-use (“ROU”) assets and lease liabilities in the Consolidated Balance Sheets on January 1, 2019 for leases of $7.6 million, based on the present value of the remaining minimum rental payments using each respective lease term and a corresponding incremental borrowing rate. We used a discount rate of approximately 4.5%, which is the interest rate that we estimate we would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments. The ASUs did not significantly affect the calculations of our debt covenants. As of September 30, 2019, ROU assets were included in in real property interests in the Consolidated Balance Sheets. The following table represents the future minimum ground lease payments as of September 30, 2019 (in thousands). 2019 (three months) $ 139 2020 566 2021 578 2022 590 2023 606 Thereafter 13,859 Total $ 16,338

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Acquisitions	3. Acquisitions Drop-down Acquisitions During the nine months ended September 30, 2018, the Partnership completed one drop-down acquisition from our Sponsor and affiliates (referred to as the “Drop-down Acquisition”). Certain real property interests included in the Drop-down Acquisition completed by the Partnership were part of the right of first offer assets acquired from Landmark Dividend Growth Fund-H LLC (“Fund H”). The following table presents the Drop-down Acquisition completed by the Partnership during 2018: Number of Tenant Sites Consideration (in millions) Acquisition Date Source Wireless Communication Outdoor Advertising Renewable Power Generation Total Borrowings and Available Cash Common Units Total January 18, 2018 Fund H 30 90 7 127 $ 32.6 $ 27.3 $ 59.9 2018 Acquisitions 30 90 7 127 $ 32.6 $ 27.3 $ 59.9 The Drop-down Acquisition is a transfer of net assets between entities under common control as the acquisition does not meet the definition of a business in accordance with ASU No. 2017-01. The transfer of net assets is accounted for prospectively in the period in which the transfer occurs at the net carrying value. Any differences between the cash consideration and the net carrying value of the transfer of net assets has been allocated to the General Partner. During the nine months ended September 30, 2018, the difference between the total consideration of $59.9 million and the net carrying value of $39.5 million, was allocated to the General Partner. Third Party Acquisitions During the nine months ended September 30, 2019 and the year ended December 31, 2018, the Partnership completed various direct third-party acquisitions. Third-party acquisitions include acquisitions in exchange for Common Units pursuant to our previously filed and effective registration statement on Form S-4, in which we may offer and issue, from time to time, an aggregate of up to 5,000,000 Common Units in connection with the acquisition by us or our subsidiaries of other businesses, assets or securities (the “Unit Exchange Program” or “UEP”). The following table presents direct third-party acquisitions completed by the Partnership during the nine months ended September 30, 2019 and the year ended December 31, 2018: No. of Tenant Sites Consideration (in millions) Acquisition Description Wireless Communication Outdoor Advertising Renewable Power Generation Total Borrowings and Available Cash Common Units Total 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 2019 Total 1 121 8 130 $ 17.2 $ — $ 17.2 First Quarter UEP 5 1 — 6 $ — $ 3.2 $ 3.2 Domestic 15 12 — 27 21.3 — 21.3 Total 20 13 — 33 $ 21.3 $ 3.2 $ 24.5 Second Quarter International — 8 — 8 $ 7.3 $ — $ 7.3 UEP 7 1 — 8 0.6 1.8 2.4 Domestic 3 1 — 4 21.5 — 21.5 Total 10 10 — 20 $ 29.4 $ 1.8 $ 31.2 Third Quarter International 2 12 — 14 $ 14.2 $ — $ 14.2 UEP 10 — — 10 0.9 1.8 2.7 Domestic 2 11 — 13 2.0 — 2.0 Total 14 23 — 37 $ 17.1 $ 1.8 $ 18.9 Fourth Quarter International — 8 — 8 $ 0.2 $ — $ 0.2 UEP 4 — — 4 — 0.9 0.9 Domestic 1 1 — 2 0.1 — 0.1 Total 5 9 — 14 $ 0.3 $ 0.9 $ 1.2 2018 Total 49 55 — 104 $ 68.1 $ 7.7 $ 75.8

Real Property Interests

Real Property Interests	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Real Property Interests	4. Real Property Interests The following table summarizes the Partnership’s real property interests (in thousands): September 30, 2019 December 31, 2018 Land $ 136,221 $ 128,302 Real property interests – perpetual 104,036 101,343 Real property interests – finite life 400,418 416,080 Real property interests – ROU assets 18,849 — Total real property interests 523,303 517,423 Construction in progress 58,507 29,556 Total land and real property interests 718,031 675,281 Accumulated amortization of real property interests (46,753 ) (39,069 ) Land and net real property interests $ 671,278 $ 636,212 During the three months ended September 30, 2019, the Partnership completed a sale of two wireless communication sites held for sale commencing March 31, 2019 and one outdoor advertising site to a third party in exchange for cash consideration of $1.1 million. We recognized a gain on sale of real property interest of $0.5 million upon completion of the sale. On January 4, 2019, the Partnership completed the sale of its real property interest held for sale as of December 31, 2018 for total consideration of $13.5 million. We recognized a gain on sale of real property interest of $5.9 million upon completion of the sale. On June 27, 2019, the Partnership completed a sale of its real property interests and investments in receivables held for sale commencing March 31, 2019 in its taxable subsidiary for total consideration of $31.8 million. We recognized a gain on sale of real property interests and investments in receivables of $11.7 million before income taxes, or $8.6 million after income taxes, During 2017, the Partnership started developing an ecosystem of technologies that provides smart enabled infrastructure including smart poles and digital outdoor advertising kiosks across North America. Smart poles are self-contained, neutral-host poles designed for wireless carrier and other wireless operator collocation. The smart poles are designed for macro, mini macro and small cell deployments and will support Internet of Things (IoT), carrier densification needs, private LTE networks and other wireless solutions. During the year ended December 31, 2018, the Partnership completed construction on four smart enabled infrastructure sites totaling $1.5 million. As of September 30, 2019 and December 31, 2018, the Partnership’s $58.5 million and $29.6 million, respectively, of construction in progress primarily related to the construction of the smart enabled infrastructure solution and other projects. In December 2016, the Partnership formed a joint venture to acquire real property interests that are leased to companies in the outdoor advertising industry located in the UK and Europe. Our venture partner provides acquisition opportunities and asset management services to the consolidated joint venture. As of September 30, 2019, the consolidated joint venture had 155 tenant sites and one investment in receivable with total net book value of $77.6 million. During the three and nine months ended September 30, 2019, the consolidated joint venture generated rental revenue of $1.5 million and $4.0 million, respectively. During the three and nine months ended September 30, 2018, the consolidated joint venture generated rental revenue of $0.9 million and $2.0 million, respectively. The Partnership applies the asset acquisition method to all acquired investments of real property interests for transactions that meet the definition of an asset acquisition. The fair value of the assets acquired and liabilities assumed is typically determined by using Level III valuation methods. The most sensitive assumption is the discount rate used to discount the estimated cash flows from the real estate rights. For purposes of the computation of fair value assigned to the various tangible and intangible assets, the Partnership assigned discount rates ranging between 6% and 20%. The following table summarizes final allocations for acquisitions during the nine months ended September 30, 2019 and the year ended December 31, 2018 of estimated fair values of the assets acquired and liabilities assumed (in thousands). Investments in In-place Above-market Below-market real property lease lease lease ROU Lease Period Land interests intangibles intangibles intangibles Asset liability Total 2019 $ 8,038 $ 478 $ 537 $ 81 $ (22 ) $ 9,629 $ (732 ) $ 18,009 2018 16,646 91,314 7,939 1,309 (2,031 ) — — 115,177 Future estimated aggregate amortization of finite lived real property interests for each of the five succeeding fiscal years and thereafter as of September 30, 2019, are as follows (in thousands): 2019 (three months) $ 2,831 2020 11,433 2021 10,817 2022 10,453 2023 10,361 Thereafter 326,619 Total $ 372,514 The weighted average remaining amortization period for non‑perpetual real property interests is 41 years as of September 30, 2019. During the three and nine months ended September 30, 2019, four and six of the Partnership’s real property interests were impaired and recognized impairment charges totaling $0.4 million and $0.6 million, respectively . During the three and nine months ended September 30, 2018, one and two of the Partnership’s real property interest were impaired and recognized impairment charges totaling $0.1 million and $0.2 million, respectively. The carrying value of each real property interest was determined to have a fair value of zero. During the three and nine months ended September 30, 2018, the Partnership recognized a gain on the contribution of real property interests of $100 million in connection with the formation of an unconsolidated joint venture (the “JV”) in which 545 tenant sites were contributed to the JV by the Partnership as described in Note 7, Investment in Unconsolidated Joint Venture In March 2019, the Partnership entered into a plan to sell one of its real property interests. The Partnership determined that the sale did not meet the criteria for discontinued operations presentation as the plan to sell did not represent a strategic shift that would have a major effect on its operations and financial results. As a result of this classification, the asset was separately presented as AHFS in the consolidated balance sheet as of September 30, 2019. The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are as follows (in thousands): September 30, 2019 December 31, 2018 Land $ — $ 1,286 Real property interests, net 392 5,566 Other intangible assets, net — 994 AHFS $ 392 $ 7,846 Other intangible liabilities, net $ — $ 397 Liabilities associated with AHFS $ — $ 397

Other Intangible Assets and Lia

Other Intangible Assets and Liabilities	9 Months Ended
	Sep. 30, 2019
Other Intangible Assets And Liabilities [Abstract]
Other Intangible Assets and Liabilities	5. Other Intangible Assets and Liabilities The following table summarizes our identifiable intangible assets, including above/below‑market lease intangibles (in thousands): September 30, 2019 December 31, 2018 Acquired in-place lease Gross amount $ 23,546 $ 23,261 Accumulated amortization (7,442 ) (6,237 ) Net amount $ 16,104 $ 17,024 Acquired above-market leases Gross amount $ 6,617 $ 6,542 Accumulated amortization (3,252 ) (2,727 ) Net amount $ 3,365 $ 3,815 Total other intangible assets, net $ 19,469 $ 20,839 Acquired below-market leases Gross amount $ (16,724 ) $ (17,097 ) Accumulated amortization 8,801 7,806 Total other intangible liabilities, net $ (7,923 ) $ (9,291 ) We recorded net amortization of above‑ and below‑market lease intangibles of $0.2 million and $0.7 million as an increase to rental revenue for the three and nine months ended September 30, 2019, respectively, and $0.3 million and $1.0 million as an increase to rental revenue for the three and nine months ended September 30, 2018, respectively. We recorded amortization of in‑place lease intangibles of $0.4 million and $1.3 million as amortization expense for the three and nine months ended September 30, 2019, respectively, and $0.6 million and $1.7 million as amortization expense for the three and nine months ended September 30, 2018, respectively. Future aggregate amortization of intangibles for each of the five succeeding fiscal years and thereafter as of September 30, 2019 follows (in thousands): Acquired in-place leases Acquired above-market Acquired below-market 2019 (three months) $ 423 $ 170 $ (385 ) 2020 1,670 537 (1,507 ) 2021 1,604 431 (1,373 ) 2022 1,508 352 (1,251 ) 2023 1,214 314 (806 ) Thereafter 9,685 1,561 (2,601 ) Total $ 16,104 $ 3,365 $ (7,923 )

Investments in Receivables

Investments in Receivables	9 Months Ended
	Sep. 30, 2019
Notes Receivable Net [Abstract]
Investments in Receivables	6. Investments in Receivables Investments in receivables include financing arrangements and management agreements whereby we purchased the right to receive a portion of a rental payment under a contract but are not a party to the lease and do not have a real property interest. Additionally, certain lease arrangements of real property interests meet the definition of a financial asset and are included in investments in receivables in our financial statements. Investments in receivables also include arrangements with T‑Mobile whereby we purchased the right to retain a portion of a lease payment prior to passing the remainder to the property owner. These cash flow financing arrangements are accounted for as receivables in our consolidated financial statements. Transfer of investments in receivables from the Sponsor and affiliates to the Partnership, which met the conditions to be accounted for as a sale in accordance with ASC 860, Transfers and Servicing During the three and nine months ended September 30, 2018, 16 of the Partnership’s investments in receivables were impaired and recognized impairment charges totaling $0.8 million. The investments in receivables were impaired to net realizable value. Pursuant to the terms of the omnibus agreement, Landmark indemnified the Partnership for the loss related to the impairment of investments in receivables which is treated as a deemed capital contribution. Interest income recognized on the receivables totaled $0.2 million and $0.8 million for the three and nine months ended September 30, 2019, respectively and $0.4 million and $1.3 million for the three and nine months ended September 30, 2018, respectively. On June 27, 2019, the Partnership completed a sale of its investments in receivables held for sale as of March 31, 2019 and recognized a gain on sale of investments in receivables. See Note 4, Real Property Interests The following table reflects the activity in investments in receivables (in thousands): September 30, 2019 December 31, 2018 Investments in receivables – beginning $ 18,348 $ 20,782 Impairments — (785 ) Sales (8,331 ) (350 ) Other (742 ) — Repayments (430 ) (1,108 ) Interest accretion 9 3 Foreign currency translation adjustment (113 ) (194 ) Investments in receivables – ending $ 8,741 $ 18,348 Annual amounts due as of September 30, 2019, are as follows (in thousands): 2019 (three months) $ 326 2020 1,297 2021 1,345 2022 1,463 2023 1,570 Thereafter 11,421 Total $ 17,422 Interest $ 8,681 Principal 8,741 Total $ 17,422

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Venture	9 Months Ended
	Sep. 30, 2019
Equity Method Investments And Joint Ventures [Abstract]
Investment in Unconsolidated Joint Venture	7. Investment in Unconsolidated Joint Venture On September 24, 2018, the Partnership completed the formation of the unconsolidated JV. The Partnership contributed 545 tenant site assets to the unconsolidated JV that secured the Partnership’s $125.4 million Series 2018-1 secured notes (the “2018 Securitization”), in exchange for a 50.01% membership interest in the unconsolidated JV and $65.5 million in cash (the “Transaction”). The Partnership does not control the unconsolidated JV and therefore, accounts for its investment in the unconsolidated JV using the equity method of accounting prospectively upon formation of the unconsolidated JV. The Partnership recognized a gain on contribution of real property interests in accordance with ASC 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets In addition to the contribution of assets, the JV assumed the 2018 Securitization on June 6, 2018 involving certain tenant sites and related property interests owned by certain unrestricted special purpose subsidiaries of the Partnership, through the issuance of the Class C, Class D and Class F Series 2018-1 Secured Notes (the “2018 Secured Notes”), in an aggregate principal amount of $125.4 million. The net proceeds from the 2018 Securitization were primarily used to pay down the revolving credit facility by $120.5 million. The Class F notes are subordinated in right of payment to the Class D notes and the Class D notes are subordinated in right of payment to the Class C notes. The 2018 Secured Notes were issued at a discount of less than $0.1 million, which will be accreted and recognized as interest expense over the term of the secured notes. The Class C, Class D and Class F 2018 Secured Notes bear interest at a fixed note rate per annum of 3.97%, 4.70% and 5.92%, respectively. The following table summarizes balance sheet information for the unconsolidated JV (in thousands): September 30, 2019 December 31, 2018 Total assets $ 256,836 $ 263,228 Total liabilities 128,362 128,448 Total equity 128,474 134,780 Total liabilities and equity $ 256,836 $ 263,228 The following table summarizes financial information for the unconsolidated JV (in thousands): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Rental revenue $ 3,559 $ 10,702 Net income 307 526 Partnership's share in income 154 263 Distributions declared to the Partnership 800 3,383

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	8. Debt The following table summarizes the Partnership’s debt (in thousands): Outstanding Balance Maturity Date September 30, 2019 December 31, 2018 Revolving credit facility November 15, 2023 $ 175,313 $ 155,000 4.38% senior secured notes June 30, 2036 $ 41,061 $ 42,058 Series 2017-1 Class A 4.10% November 15, 2022 (1) 59,587 60,900 Series 2017-1 Class B 3.81% November 15, 2022 (1) 17,261 17,563 Series 2016-1 Class A 3.52% June 1, 2021 (2) 83,341 86,258 Series 2016-1 Class B 7.02% June 1, 2021 (2) 25,100 25,100 Secured Notes 226,350 231,879 Discount on Secured Notes (1,174 ) (1,454 ) Deferred loan costs (5,641 ) (6,740 ) Secured Notes, net $ 219,535 $ 223,685 (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 On November 15, 2018, the Partnership completed its Third Amended and Restated Credit Facility and obtained commitments from a syndicate of banks with initial borrowing commitments of $450.0 million for five-years. Additionally, borrowings up to $75.0 million may be denominated in British pound sterling (“GBP”), euro, Australian dollar and Canadian dollar. Substantially all of our assets, excluding equity in and assets of unrestricted subsidiaries, after‑acquired real property (other than real property that is acquired from affiliate funds and is subject to a mortgage), and other customary exclusions, are pledged (or secured by mortgages), as collateral under our revolving credit facility. Our revolving credit facility contains various customary covenants and restrictive provisions. Loans under the revolving credit facility bear interest at a rate equal to the applicable London Inter Bank Offering Rate (“LIBOR”) related to the currency for which borrowings are denominated, plus a spread ranging from 1.75% to 2.25% (determined based on leverage levels). During the three months ended September 30, 2019, the applicable spread was 2.00%. Additionally, under the revolving credit facility we will be subject to an annual commitment fee (determined based on leverage levels) associated with the available undrawn capacity subject to certain restrictions. As of September 30, 2019, the applicable annual commitment rate used was 0.175%. The revolving credit facility requires monthly interest payments and the outstanding debt balance is due upon maturity on November 15, 2023. As of September 30, 2019, $175.3 million was outstanding, which includes £40.5 million of GBP debt. As of September 30, 2019, there was $274.7 million of undrawn borrowing capacity (including a standby letter of credit arrangement of $2.4 million), subject to compliance with various financial covenants. Except as described below under “Secured Notes,” as of September 30, 2019, the Partnership was in compliance with all other financial covenants required under the revolving credit facility. Secured Notes On April 24, 2018, the Partnership entered into a note purchase and private shelf agreement (“Note Purchase Agreement”) pursuant to which the Partnership agreed to sell an initial $43.7 million aggregate principal amount of 4.38% senior secured notes, in a private placement (the “4.38% Senior Secured Notes”) involving a segregated pool of renewable power generation sites and related property interests. The 4.38% Senior Secured Notes are fully amortized through June 30, 2036. The Partnership may from time to time issue and sell additional senior secured notes pursuant to the Note Purchase Agreement, in an aggregate principal amount when aggregated with the initial principal amount of up to $225 million. We used all the net proceeds of $41.0 million to repay a portion of the borrowings under our revolving credit facility. In October 2019, we became aware of the fact that we were in technical default of certain covenants under the Note Purchase Agreement due to certain rental payments received by the Partnership in an incorrect bank account, which resulted in an Event of Default under the terms of the Note Purchase Agreement. The Event of Default under the terms of the Note Purchase Agreement in turn caused an Event of Default under our revolving credit facility. In November 2019, we amended the terms of the revolving credit agreement and obtained a waiver such that Event of Default under the Note Purchase Agreement does not in turn cause an Event of Default under our revolving line of credit. The issue has been remediated and we are seeking consents and waivers of the default from the holders of the 4.38% Senior Secured Notes; however, there is no guarantee that we will be successful in securing such consents and waivers. If we are unable to secure such consents and waivers, such holders and lenders could declare the outstanding principal of the applicable debt, together with accrued interest, to be immediately due and payable. As of September 30, 2019, the outstanding balance was $41.1 million and accrued interest was $0.5 million. On November 30, 2017, the Partnership completed a securitization transaction (the “2017 Securitization”) involving certain outdoor advertising tenant sites and related property interests owned by certain unrestricted special purpose subsidiaries of the Partnership, through the issuance of the Class A and Class B Series 2017-1 Secured Notes (the “2017 Secured Notes”), in an aggregate principal amount of $80.0 million. The net proceeds from the 2017 Securitization were primarily used to pay down the revolving credit facility by $54.0 million and $17.5 million held in a restricted reserve accounts, including $16.0 million into a site acquisition account subsequently used on January 18, 2018 to acquire additional tenant sites pursuant to the Indenture. The Class B notes are subordinated in right of payment to the Class A notes. The 2017 Secured Notes were issued at a discount of $1.8 million, which will be accreted and recognized as interest expense over the term of the secured notes. The Class A and Class B 2017 Secured Notes bear interest at a fixed note rate per annum of 4.10% and 3.81%, respectively. On June 16, 2016, the Partnership completed a securitization transaction (the “2016 Securitization”) involving certain tenant sites and related real property interests owned by certain unrestricted special purpose subsidiaries of the Partnership, through the issuance of the Class A and Class B Series 2016-1 Secured Notes (the “2016 Secured Notes”), in an aggregate principal amount of $116.6 million. The net proceeds from the Securitization were used to pay down the revolving credit facility by $112.3 million. The Class B notes are subordinated in right of payment to the Class A notes. The 2016 Secured Notes were issued at a discount of $17,292, which will be accreted and recognized as interest expense over the term of the secured notes. The Class A and Class B 2016 Secured Notes bear interest at a fixed note rate per annum of 3.52% and 7.02%, respectively. The secured notes described above are collectively referred to as the “Secured Notes” and the tenant site assets securing the Secured Notes are collectively referred to as the “Secured Tenant Site Assets.” The Secured Notes are secured by (1) mortgages and deeds of trust on substantially all of the Secured Tenant Site Assets and their operating cash flows, (2) a security interest in substantially all of the personal property of the obligors (as defined in the applicable indenture), and (3) the rights of the obligors under a management agreement. Under the terms of the applicable indenture, amounts due under the Secured Notes will be paid solely from the cash flows generated from the operation of the Secured Tenant Site Assets, as applicable, which must be deposited into reserve accounts, and thereafter distributed solely pursuant to the terms of the applicable indenture. On a monthly basis, after payment of all required amounts under the applicable indenture, subject to the conditions described below, the excess cash flows generated from the operation of such assets are released to the Partnership. As of September 30, 2019, $5.4 million was held in such reserve accounts which are classified as Restricted Cash on the accompanying consolidated balance sheets. The Partnership is subject to covenants customary for notes issued in rated securitizations. Among other things, the obligors are prohibited from incurring other indebtedness for borrowed money or further encumbering their assets (as defined in the applicable agreement). Under the terms of the applicable indenture, the obligors will be permitted to issue additional notes under certain circumstances, including so long as the debt service coverage ratio (“DSCR”) of the issuer is at least 2.0 to 1.0 for the 2017 Secured Notes and 2016 Secured Notes, respectively and at least 1.1 to 1.0 for the 4.38% Senior Secured Notes. Except as described above, as of September 30, 2019, the Partnership was in compliance with all other financial covenants under the Secured Notes. The Secured Notes’ annual principal payment amounts due as of September 30, 2019, are as follows (in thousands): 2019 (three months) $ 2,834 2020 10,313 2021 (1) 108,013 2022 72,440 2023 2,714 Thereafter (1) 30,036 Total $ 226,350 (1) Reflects anticipated repayment dates Interest Expense The Partnership incurred interest expense of $4.3 million and $13.4 million for three and nine months ended September 30, 2019, respectively, and $6.9 million and $19.6 million for the three and nine months ended September 30, 2018, respectively. At September 30, 2019 and December 31, 2018, the Partnership had interest payable of $0.9 million and $0.2 million, respectively. Additionally, the Partnership recorded amortization of deferred loan costs and discount on secured notes, which is included in interest expense, of $0.8 million and $2.3 million for the three and nine months ended September 30, 2019, respectively, and $1.1 million and $3.0 million for the three and nine months ended September 30, 2018, respectively.

Interest Rate Swap Agreements

Interest Rate Swap Agreements	9 Months Ended
	Sep. 30, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Interest Rate Swap Agreements	9. Interest Rate Swap Agreements The following table summarizes the terms and fair value of the Partnerships’ interest rate swap agreements (in thousands, except percentages): Date Notional Fixed Effective Maturity Fair Value Asset (Liability) at Entered Value Rate Index Date Date September 30, 2019 December 31, 2018 February 5, 2015 $ 25,000 1.29 % 1-month USD LIBOR 4/13/2015 4/13/2019 $ — $ 102 August 24, 2015 50,000 1.74 1-month USD LIBOR 10/1/2015 10/1/2022 (460 ) 1,259 March 23, 2016 50,000 1.67 1-month USD LIBOR 12/24/2018 12/24/2021 (226 ) 1,117 March 31, 2016 20,000 1.56 1-month USD LIBOR 12/24/2018 12/24/2021 (44 ) 508 March 31, 2016 25,000 1.63 1-month USD LIBOR 4/13/2019 4/13/2022 (116 ) 569 June 12, 2017 50,000 2.10 1-month USD LIBOR 3/2/2018 9/2/2024 (1,590 ) 1,035 November 15, 2018 £ 38,000 1.49 1-month GBP LIBOR 11/30/2020 11/30/2025 (2,329 ) (402 ) $ (4,765 ) $ 4,188 During the three and nine months ended September 30, 2019, the Partnership recorded a loss of $2.2 million and $9.0 million, respectively, and for the three and nine months ended September 30, 2018, the Partnership recorded a gain of $0.8 million and a gain of $5.2 million, respectively, resulting from the change in fair value of the interest rate swap agreements, which is reflected as an unrealized gain (loss) on derivative financial instruments on the consolidated statements of operations. The fair values of the interest rate swap agreements are derived based on Level 2 inputs. To illustrate the effect of movements in the interest rate market, the Partnership performed a market sensitivity analysis on its outstanding interest rate swap agreements. The Partnership applied various basis point spreads to the underlying interest rate curve of the derivative in order to determine the instruments’ change in fair value at September 30, 2019. The following table summarizes the fair values of the interest rate swaps as a result of the analysis performed (in thousands): Effects of Change in Interest Rates Date Entered Maturity Date +50 Basis Points -50 Basis Points +100 Basis Points -100 Basis Points August 24, 2015 10/1/2022 $ 225 $ (1,202 ) $ 919 $ (1,935 ) March 23, 2016 12/24/2021 288 (768 ) 805 (1,308 ) March 31, 2016 12/24/2021 162 (260 ) 369 (475 ) March 31, 2016 4/13/2022 179 (428 ) 476 (739 ) June 12, 2017 9/2/2024 (517 ) (2,880 ) 617 (4,110 ) November 15, 2018 11/30/2025 (1,320 ) (3,741 ) (179 ) (5,023 )

Equity

Equity	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Equity	10. Equity The table below summarizes changes in the number of units outstanding (in units): Mezzanine Equity - Series A Series B Series C Common Subordinated Preferred Preferred Preferred Balance as of December 31, 2017 20,146,458 3,135,109 1,568,402 2,463,015 — Issuance of units to Fund H - January 18, 2018 1,506,421 — — — — Conversion of subordinated units 3,135,109 (3,135,109 ) — — — Issuance of Series C Preferred Units - April 2, 2018 — — — — 2,000,000 Issuance under ATM Programs 27,830 — 24,747 — — Issuance under Unit Exchange Program 446,416 — — — — Unit-based compensation 3,826 — — — — Balance as of September 30, 2018 25,266,060 — 1,593,149 2,463,015 2,000,000 Balance as of December 31, 2018 25,327,801 — 1,593,149 2,463,015 2,000,000 Conversion of Series C Preferred Units 14,708 — — — (11,300 ) Issuance under ATM Programs — — 81,007 81,778 — Unit-based compensation 10,631 — — — — Balance as of September 30, 2019 25,353,140 — 1,674,156 2,544,793 1,988,700 Common Units On May 3, 2019, the Partnership established a Common Unit at-the-market offering program (the “2019 Common Unit ATM Program”) pursuant to which we may sell, from time to time, Common Units having an aggregate offering price of up to $50.0 million pursuant to our previously filed and effective registration statement on Form S-3. The net proceeds from sales under the 2019 Common Unit ATM Program will be used for general partnership purposes, which may include, among other things, the repayment of indebtedness and to potentially fund future acquisitions. No Common Units were issued under the 2019 Common Unit ATM Program during the nine months ended September 30, 2019. On February 16, 2016, the Partnership established a Common Unit at-the-market offering program (the “2016 Common Unit ATM Program” and together with the 2019 Common Unit ATM Program the “Common Unit ATM Programs”), that expired on December 30, 2018, therefore, no Common Units were issued under the 2016 Common Unit ATM Program during the nine months ended September 30, 2019. During the nine months ended September 30, 2018, 27,830 Common Units were issued under the 2016 Common Unit ATM Program generating proceeds of approximately $0.5 million before issuance costs. On February 16, 2016, the Partnership filed a shelf registration statement on Form S-4 with the SEC. The shelf registration statement was declared effective on March 10, 2016 and permits us to offer and issue, from time to time, an aggregate of up to 5,000,000 Common Units in connection with the acquisition by us or our subsidiaries of other businesses, assets or securities. No acquisitions were completed during the nine months ended September 30, 2019 under the Unit Exchange Program. During the nine months ended September 30, 2018, under the Unit Exchange Program, the Partnership completed an acquisition of 24 tenant sites in exchange for 446,416 Common Units, valued at approximately $6.7 million. As of September 30, 2019, we have 4,091,908, Common Units remaining available to be issued under the Unit Exchange Program. Subordinated Units Our Partnership Agreement provides that, during the subordination period, the Common Units have the right to receive distributions of available cash from operating surplus each quarter in an amount equal to $0.2875 per Common Unit, which amount is defined in our Partnership Agreement as the minimum quarterly distribution, plus any arrearages in the payment of the minimum quarterly distribution on the Common Units from prior quarters, before any distributions of available cash from operating surplus may be made on the subordinated units. These units are deemed “subordinated” because for a period of time, referred to as the subordination period, the subordinated units are not entitled to receive any distributions until the Common Units have received the minimum quarterly distribution plus any arrearages in the payment of the minimum quarterly distribution on the Common Units from prior quarters. Furthermore, no arrearages will accrue or be payable on the subordinated units. The practical effect of the subordinated units is to increase the likelihood that, during the subordination period, there will be available cash to be distributed on the Common Units. The requirements under our Partnership Agreement for the conversion of all the subordinated units into common units were satisfied upon the payment of our quarterly cash distribution on February 14, 2018. Therefore, effective February 15, 2018, all of our subordinated units which are owned by Landmark, were converted on a one-for-one basis into common units. The conversion of subordinated units does not impact the amount of cash distributions or total number of outstanding units. Preferred Units On May 3, 2019, the Partnership established a Series A Preferred Unit at-the-market offering program (the “2019 Series A ATM Program”) pursuant to which we may sell, from time to time, Series A Preferred Units having an aggregate offering price of up to $50.0 million pursuant to our previously filed and effective registration statement on Form S-3. The net proceeds from sales under the 2019 Series A ATM Program will be used for general Partnership purposes, which may include, among other things, the repayment of indebtedness and to potentially fund future acquisitions. During the nine months ended September 30, 2019, the Partnership issued 81,007 Series A Preferred Units under our 2019 Series A ATM Program, generating proceeds of approximately $2.1 million before issuance costs, respectively. As of September 30, 2019, we have $47.9 million remaining available to be issued under the 2019 Series A ATM Program. On June 24, 2016, the Partnership established a Series A Preferred Unit at-the-market offering program (the “2016 Series A ATM Program” and together with the 2019 Series A ATM Program the “Series A ATM Programs”), that expired on December 30, 2018, therefore, no Series A Preferred Units were issued under the 2016 Series A ATM Program during the nine months ended September 30, 2019. During the nine months ended September 30, 2018, the Partnership issued 24,747 Series A Preferred Units under our 2016 Series A ATM Program, generating proceeds of approximately $0.6 million before issuance costs. On March 30, 2017, the Partnership established a Series B Preferred Unit at-the-market offering program (the “Series B ATM Program” and together with the Series A ATM Programs and Common Unit ATM Programs the “ATM Programs”) pursuant to which we may sell, from time to time, Series B Preferred Units having an aggregate offering price of up to $50.0 million pursuant to our previously filed and effective registration statement on Form S-3. The net proceeds from sales under the Series B ATM Program will be used for general Partnership purposes, which may include, among other things, the repayment of indebtedness and to potentially fund future acquisitions. During Series B Preferred Units under our Series B ATM Program No Mezzanine Equity On April 2, 2018, the Partnership completed a public offering of 2,000,000 Series C Floating-to-Fixed Rate Cumulative Perpetual Redeemable Convertible Preferred Units (“Series C Preferred Units” and together with the Series A Preferred Units and the “Preferred Units”), representing limited partner interest in the Partnership, at a price of $25.00 per unit. We received net proceeds of approximately $47.5 million after deducting underwriters’ discounts and offering expenses paid by us of $2.5 million. We used substantially all net proceeds to repay a portion of the borrowings under our revolving credit facility. In connection with the closing of the Series C Preferred Units offering, the Partnership executed the Fourth Amended and Restated Agreement of Limited Partnership of Landmark Infrastructure Partners LP (the “Amended Partnership Agreement”) for the purpose of defining the preferences, rights, powers and duties of holders of the Series C Preferred Units. Distributions on the Series C Preferred Units are cumulative from the date of original issue and will be payable quarterly in arrears on the 15th day of February, May, August and November of each year, when, as and if declared by the board of directors of our General Partner. The initial distribution on the Series C Preferred Units was paid on May 15, 2018 in an amount equal to $0.2090 per unit. Distributions accruing from, and including, the date of original issuance and to, but excluding May 15, 2025 will accrue at an annual rate equal to the greater of (i) 7.00% per annum, and (ii) the sum of (a) three-month LIBOR as calculated on each applicable date of determination and (b) 4.698% per annum, based on the $25.00 liquidation preference per Series C Preferred Unit. Distributions accruing on and after May 15, 2025 will accrue at 9.00% per annum of the stated liquidation preference. Holders of Series C Preferred Units, at their option, may, at any time and from time to time, convert some or all of their Series C Preferred Units based on an initial conversion rate of 1.3017 common units per Series C Preferred Unit. In the event of a fundamental change, holder of the Series C Preferred Units, at their option, may convert some or all of their Series C Preferred Units into the greater of (i) a number of common units plus a make-whole premium and (ii) a number of common units equal to the lessor of (a) the liquidation preference divided by the market value of our common units on the effective date of such fundamental change and (b) 11.13 (subject to adjustments). On May 15, 2025, May 15, 2028, and each subsequent five-year anniversary date thereafter (each such date, a “designated redemption date”), each holder of Series C Preferred Units shall have the right (a “redemption right”) to require the Partnership to redeem any or all of the Series C Preferred Units held by such holder outstanding on such designated redemption date at a redemption price equal to the liquidation preference of $25.00, plus all accrued and unpaid distributions to, but not including, in each case out of funds legally available for such payment and to the extent not prohibited by law, the designated redemption date (the “put redemption price”). At our option we may pay the redemption in our common units or cash, subject to certain limitations. At any time on or after May 20, 2025, the Partnership shall have the option to redeem the Series C Preferred Units, in whole or in part, at a redemption price of $25.00 per Series C Preferred Unit plus an amount equal to all accumulated and unpaid distributions thereon to the date of redemption, whether or not declared. The Partnership has classified the Series C Preferred Units as mezzanine equity in the accompanying consolidated balance sheets based upon the terms and conditions of the holder’s redemption option. Issuance costs related to the Series C Preferred Units classified as mezzanine equity are initially recorded as a reduction of the units balances and accreted up to the redemption value. During the nine months ended September 30, 2019, 11,300 Series C Preferred Units were converted into 14,708 Common Units based on the holder’s option. 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 and Subordinated Units and IDRs September 30, 2018 (1) October 26, 2018 November 14, 2018 $ 0.3675 $ 9,285 December 31, 2018 (1) January 25, 2019 February 14, 2019 0.3675 9,312 March 31, 2019 (1) April 19, 2019 May 15, 2019 0.3675 9,312 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 Series A Preferred Units September 30, 2018 September 20, 2018 October 15, 2018 $ 0.5000 $ 797 December 31, 2018 December 20, 2018 January 15, 2019 0.5000 797 March 31, 2019 March 21, 2019 April 15, 2019 0.5000 797 June 30, 2019 June 20, 2019 July 15, 2019 0.5000 828 September 30, 2019 September 20, 2019 October 15, 2019 0.5000 837 Series B Preferred Units September 30, 2018 October 22, 2018 November 15, 2018 $ 0.4938 $ 1,216 December 31, 2018 January 22, 2019 February 15, 2019 0.4938 1,216 March 31, 2019 April 19, 2019 May 15, 2019 0.4938 1,216 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 Series C Preferred Units September 30, 2018 October 22, 2018 November 15, 2018 $ 0.4382 $ 876 December 31, 2018 January 22, 2019 February 15, 2019 0.4571 914 March 31, 2019 April 19, 2019 May 15, 2019 0.4614 923 June 30, 2019 July 19, 2019 August 15, 2019 0.4510 902 September 30, 2019 October 22, 2019 November 15, 2019 0.4375 870 (1) The General Partner irrevocably waived its right to receive the incentive distribution and incentive allocations related to the respective quarterly distribution.

Net Income (Loss) Per Limited P

Net Income (Loss) Per Limited Partner Unit	9 Months Ended
	Sep. 30, 2019
Earnings Per Unit [Abstract]
Net Income (Loss) Per Limited Partner Unit	11. Net Income (Loss) Per Limited Partner Unit Landmark’s subordinated units and the General Partner’s incentive distribution rights meet the definition of a participating security and therefore we are required to compute income per unit using the two-class method under which any excess of distributions declared over net income shall be allocated to the partners based on their respective sharing of income specified in the Amended Partnership Agreement. Payments made to our unitholders are determined in relation to actual distributions declared and are not based on the net income (loss) allocations used in the calculation of net income (loss) per unit. Net income (loss) per unit applicable to limited partners (including subordinated unitholders) is computed by dividing limited partners’ interest in net income (loss), after deducting any Preferred Unit distributions and General Partner incentive distributions, by the weighted-average number of outstanding common and subordinated units. Diluted net income (loss) per unit includes the effects of potentially dilutive units on our common units. Effective February 15, 2018, all of our subordinated units, which were owned by Landmark, were converted on a one-for-one basis into common units. The subordinated units were only allocated the excess of distributions declared over net income through the conversion date. The calculation of the undistributed net loss attributable to common unitholders for the three and nine months ended September 30, 2019 and 2018 follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net income attributable to limited partners $ 3,979 $ 105,139 $ 20,438 $ 117,973 Less: Distributions declared on Preferred Units (2,985 ) (2,868 ) (8,900 ) (7,742 ) General partner's incentive distribution rights (1) (197 ) (197 ) (591 ) (587 ) Accretion of Series C preferred units (96 ) — (546 ) — Net income attributable to common unitholders 701 102,074 10,401 109,644 Distributions declared on common units (9,317 ) (9,285 ) (27,941 ) (27,710 ) Undistributed net income (loss) $ (8,616 ) $ 92,789 $ (17,540 ) $ 81,934 (1) The General Partner irrevocably waived its right to receive the incentive distribution and incentive allocations related to the quarterly distribution for the three months ended March 31, 2019, June 30, 2019 and September 30, 2019 and 2018. For purposes of determining net income per common unit, the amount otherwise due to the general partner has been referenced as a deemed distribution. The calculation of net income per common unit for the three months ended September 30, 2019 and 2018 follows (in thousands, except per unit data): Three Months Ended September 30, 2019 2018 Common Units Common Units Distributions declared $ 9,317 $ 9,285 Undistributed net loss (8,616 ) 92,789 Net income attributable to common units - basic 701 102,074 Distributions on dilutive preferred units — 868 Net income attributable to common units - diluted $ 701 $ 102,942 Weighted-average units outstanding: Basic 25,341 25,138 Effect of dilutive preferred units — 2,603 Diluted 25,341 27,741 Net income per common unit: Basic $ 0.03 $ 4.06 Diluted (1) $ 0.03 $ 3.71 (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 three months ended September 30, 2019 and, as a result, have been excluded in the determination of diluted net income (loss) per common unit. Potential common unit equivalents are dilutive for the three months ended September 30, 2018 and, as a result, have been included in the determination of diluted net income (loss) per common unit. The calculation of net income (loss) per common and subordinated unit for the nine months ended September 30, 2019 and 2018 follows (in thousands, except per unit data): Nine Months Ended September 30, 2019 2018 Common Units Common Units Subordinated Units Distributions declared $ 27,941 $ 27,710 $ — Undistributed net loss (17,540 ) 82,237 (303 ) Net income (loss) attributable to common and subordinated units - basic 10,401 109,947 (303 ) Net loss attributable to subordinated units — (303 ) — Distributions on dilutive preferred units — 1,736 — Net income (loss) attributable to common and subordinated units - diluted $ 10,401 $ 111,380 $ (303 ) Weighted-average units outstanding: Basic 25,339 24,405 517 Effect of dilutive subordinated units — 517 — Effect of dilutive preferred units — 1,736 — Diluted 25,339 26,658 517 Net income (loss) per common and subordinated unit: Basic $ 0.41 $ 4.51 $ (0.59 ) Diluted (1)(2) $ 0.41 $ 4.18 $ (0.59 ) (1) The Partnership Agreement provides that when the subordination period ends, each outstanding subordinated unit will convert into one Common Unit and will thereafter participate pro rata with the other Common Units in distributions of available cash. (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 nine months ended September 30, 2019 and, as a result, have been excluded in the determination of diluted net income (loss) per common unit. Potential common unit equivalents are dilutive for the three months ended September 30, 2018 and, as a result, have been included in the determination of diluted net income (loss) per common unit.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	12. Fair Value of Financial Instruments The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Partnership’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transaction will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non ‑ Cash and cash equivalents, rent receivables, net and accounts payable and accrued liabilities : The carrying values of these balances approximate their fair values because of the short ‑ term nature of these instruments. Revolving credit facility : The fair value of the Partnership’s revolving credit facility is estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan ‑ to ‑ value ratio, type of collateral and other credit enhancements. Additionally, since a quoted price in an active market is generally not available for the instrument or an identical instrument, the Partnership measures fair value using a valuation technique that is consistent with the principles of fair value measurement which typically considers what management believes is a market participant rate for a similar instrument. The Partnership classifies these inputs as Level 3 inputs. The fair value of the Partnership’s revolving credit facility is considered to approximate the carrying value because the interest payments are based on LIBOR rates that reset every month. Secured Notes : The Partnership determines fair value of its secured notes utilizing various Level 2 sources including quoted prices and indicative quotes (non-binding quotes) from brokers that require judgment to interpret market information. Quotes from brokers require judgment and are based on the brokers’ interpretation of market information, including implied credit spreads for similar borrowings on recent trades or bid/ask prices or quotes from active markets if available. Investments in receivables : The Partnership’s investments in receivables are presented in the accompanying consolidated balance sheets at their amortized cost net of recorded reserves and not at fair value. The fair values of the receivables were estimated using an internal valuation model that considered the expected cash flow of the receivables and estimated yield requirements by market participants with similar characteristics, including remaining loan term, and credit enhancements. The Partnership classifies these inputs as Level 3 inputs. Interest rate swap agreements : The Partnership’s interest rate swap agreements are presented at fair value on the accompanying consolidated balance sheets. The valuation of these instruments is determined using a proprietary model that utilizes observable and unobservable inputs. A majority of the inputs are observable with the only unobservable inputs relating to the lack of performance risk on the part of the Partnership or the counter party to the instrument. As such, the Partnership classifies these inputs as Level 2 inputs. The proprietary model uses the contractual terms of the derivatives, including the period to maturity, as well as observable market ‑ based inputs, including the interest rate curves and volatility. The fair values of interest rate swaps are estimated using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit risk to the contracts, are incorporated in the fair values to account for potential nonperformance risk. The table below summarizes the carrying amounts and fair values of financial instruments which are not carried at fair value on the face of the financial statements (in thousands): September 30, 2019 December 31, 2018 Carrying amount Fair Value Carrying amount Fair Value Investment in receivables, net $ 8,741 $ 8,966 $ 18,348 $ 18,867 Revolving credit facility 175,313 175,313 155,000 155,000 Secured Notes, net 219,535 224,199 223,685 224,333 Disclosure of the fair values of financial instruments is based on pertinent information available to the Partnership as of the period end and requires a significant amount of judgment. Despite increased capital market and credit market activity, transaction volume for certain financial instruments remains relatively low. This has made the estimation of fair values difficult and, therefore, both the actual results and the Partnership’s estimate of value at a future date could be materially different. As of September 30, 2019 and December 31, 2018, the Partnership measured the following assets at fair value on a recurring basis (in thousands): September 30, 2019 December 31, 2018 Derivative Assets (1) $ — $ 4,590 Derivative Liabilities (1) 4,765 402 (1) Fair value is calculated using level 2 inputs. Level 2 inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model‑derived valuations in which significant inputs and significant value drivers are observable in active markets.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related-Party Transactions	13. Related‑Party Transactions General and Administrative Reimbursement Under the Amended Partnership Agreement, we are required to reimburse our general partner and its affiliates for all costs and expenses that they incur on our behalf for managing and controlling our business and operations. Except to the extent specified under our amended Omnibus Agreement with Landmark (“Omnibus Agreement”), which was amended on January 30, 2019, our general partner determines the amount of these expenses and such determinations must be made in good faith under the terms of the Amended Partnership Agreement. Under the amended Omnibus Agreement, we are required to reimburse Landmark for expenses related to certain general and administrative services Landmark provides to us in support of our business, subject to a quarterly cap equal to 3% of our revenue during the current calendar quarter. This cap on expenses will last until the earlier to occur of: (i) the date on which our revenue for the immediately preceding four consecutive fiscal quarters exceeded $120 million and (ii) November 19, 2021. The full amount of general and administrative expenses incurred will be reimbursed by Landmark and reflected on our income statements, and to the extent such general and administrative expenses exceed the cap amount, the amount of such excess will be reflected in our financial statements as a capital contribution rather than as a reduction of our general and administrative expenses, except for expenses that would otherwise be allocated to us, which are not included in the amount of general and administrative expenses. These expenses include salary, bonus, incentive compensation and other amounts paid to persons who perform services for us or on our behalf and expenses allocated to our general partner by its affiliates During the three and , $0.1 million and $0.2 million of management fees related to our unconsolidated joint venture that is not subject to the cap and is treated as a capital contribution from Sponsor. apital contributions from Sponsor on the Consolidated and Combined Statements of Equity and Mezzanine Equity for 2019. Patent License Agreement We entered into a Patent License Agreement (“License Agreement”) with American Infrastructure Funds, LLC (“AIF”), an affiliate of the controlling member of Landmark. Under the License Agreement, AIF granted us a nonexclusive, perpetual license to practice certain patented methods related to the apparatus and method for combining easements under a master limited partnership. We have agreed to pay AIF a license fee of $50,000 for the second year of the License Agreement, and thereafter, an amount equal to the greater of (i) one‑tenth of one percent (0.1%) of our gross revenue received during such contract year; or (ii) $100,000. During the three and nine months ended September 30, 2019 and 2018, we incurred $25,000 and $75,000, respectively, of license fees related to the AIF patent license agreement. Right of First Offer In accordance with the Partnership’s omnibus agreement, certain other investment funds managed by Landmark had granted us a right of first offer (“ROFO”) on real property interests that they owned or acquired before selling or transferring those assets to any third party. During the year ended December 31, 2018, the Partnership waived its ROFO on certain assets in investment funds managed by Landmark. During the nine months ended September 30, 2018, the Partnership completed the following ROFO acquisitions: Common Units Total No. of Total Total Issued to Acquired Total No. Investments in Consideration Common Units Landmark Acquisition Date Fund of Tenant Sites Receivables (in millions) Issued and Affiliates January 18, 2018 Fund H 127 — $ 59.9 1,506,421 — See further discussion in Note 3, Acquisitions Secured Tenant Site Assets’ Management Fee In connection with the issuance of the Secured Notes, the Partnership entered into applicable management agreements with the General Partner. Pursuant to the applicable management agreements, our General Partner will perform those functions reasonably necessary to maintain, manage and administer the Secured Tenant Site Assets for a monthly management fee equal to 1.5% of the Secured Tenant Site Assets’ operating revenue, as defined by the applicable management agreements for the 2016 and 2017 secured notes and 0.5% of operating revenue for the 4.38% senior secured notes. The Secured Tenant Site Assets’ management fee to Landmark will be treated as a capital distribution to Landmark. Landmark will reimburse us for the fees paid with the reimbursement treated as a capital contribution. We incurred $0.1 million and $0.2 million of Secured Tenant Site Assets’ management fees during the three and nine months ended September 30, 2019 and less than $0.1 million during the three and nine months ended September 30, 2018, respectively. In connection with the formation of the unconsolidated JV, the JV assumed the 2018 Secured Notes. Pursuant to the applicable management agreement, our General Partner will perform those functions reasonably necessary to maintain, manage and administer the 2018 Secured Tenant Site Assets for a monthly management fee equal to 1.5% of the Secured Tenant Site Assets’ operating revenue, subject to a maximum of $46 per tenant site asset. Landmark will reimburse us for the management fees paid by the unconsolidated JV with the reimbursement treated as a capital contribution. For the three and nine months ended September 30, 2019, the unconsolidated JV incurred less than $0.1 million and $0.2 million, respectively, of management fees. Acquisition of Real Property Interests In connection with third party acquisitions, Landmark will be obligated to provide acquisition services to us, including asset identification, underwriting and due diligence, negotiation, documentation and closing, at the reasonable request of our General Partner, but we are under no obligation to utilize such services. We will pay Landmark reasonable fees, as mutually agreed to by Landmark and us, for providing these services. These fees will not be subject to the cap on general and administrative expenses described above. As of September 30, 2019 and 2018, no such fees have been incurred. Penteon Partnership On June 13, 2017, the Partnership and its Sponsor entered into a partnership with Penteon Corporation to deploy a nationwide Low Power Wide Area Network (LPWAN) based on the global open standard called LoRaWAN™ and utilizing the real property interests controlled by the Sponsor and the Partnership. As part of the agreement, the Sponsor owns a warrant to purchase up to approximately 25% of Penteon’s preferred stock. As of September 30, 2019 and December 31, 2018, the Partnership had zero in leasing costs related to the deployment of LPWAN on its sites. Incentive Distribution Rights Cash distributions will be made to our General Partner in respect of its ownership of all IDRs, which entitle our General Partner to receive increasing percentages, up to a maximum of 50%, of the available cash we distribute from operating surplus (as defined in our Amended Partnership Agreement) in excess of $0.2875 per unit per quarter. The General Partner irrevocably waived its right to receive the incentive distribution and incentive allocations related to the three and nine months ended September 30, 2019 quarterly distribution totaling $0.2 million and $0.6 million, and for the three months ended September 30, 2018 quarterly distribution totaling $0.2 million, which is treated as a deemed contribution in the consolidated statements of equity and mezzanine equity and as a deemed distribution for purposes of determining net income per common unit. During the three and nine months ended September 30, 2018, we paid zero and $0.4 million of incentive distribution rights. Due from Affiliates At September 30, 2019 and December 31, 2018, the General Partner and its affiliates owed $1.9 million and $1.4 million, respectively, to the Partnership primarily for the current quarter general and administrative reimbursement, unconsolidated JV management fees and for rents received on our behalf, offset by rents received on behalf of the unconsolidated JV.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	14. Segment Information The Partnership had three reportable segments, wireless communication, outdoor advertising and renewable power generation for all periods presented. The Partnership’s wireless communication segment consists of leasing infrastructure and real property interests and providing financing to companies in the wireless communication industry in the United States, Canada, and Australia. The Partnership’s outdoor advertising segment consists of leasing real property interests to companies in the outdoor advertising industry in the United States, Canada, Australia, and Europe. The Partnership’s renewable power generation segment consists of leasing real property interests and providing financing to companies in the renewable power industry in the United States. Items that are not included in any of the reportable segments are included in the corporate category. The reportable segments are strategic business units that offer different products and services. They are commonly managed as all three businesses require similar marketing and business strategies. Because our tenant lease arrangements are mostly effectively triple-net, we evaluate our segments based on revenue. We believe this measure provides investors relevant and useful information because it is presented on an unlevered basis. The statements of operations for the reportable segments are as follows: For the three months ended September 30, 2019 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 7,185 $ 5,221 $ 1,996 $ — $ 14,402 Expenses Property operating 30 374 31 — 435 General and administrative — — — 1,288 1,288 Acquisition-related — — — 119 119 Amortization 2,282 993 120 — 3,395 Impairments 227 215 — — 442 Total expenses 2,539 1,582 151 1,407 5,679 Total other income and expenses 361 338 20 (5,228 ) (4,509 ) Income (loss) before income tax expense (benefit) 5,007 3,977 1,865 (6,635 ) 4,214 Income tax expense — — — 228 228 Net income (loss) $ 5,007 $ 3,977 $ 1,865 $ (6,863 ) $ 3,986 For the three months ended September 30, 2018 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 10,511 $ 4,989 $ 2,060 $ — $ 17,560 Expenses Property operating 141 185 34 — 360 General and administrative — — — 735 735 Acquisition-related — — — 88 88 Amortization 3,155 962 176 — 4,293 Impairments 785 92 — — 877 Total expenses 4,081 1,239 210 823 6,353 Total other income and expenses 100,187 61 206 (6,054 ) 94,400 Income (loss) before income tax expense 106,617 3,811 2,056 (6,877 ) 105,607 Income tax expense — — — 460 460 Net income (loss) $ 106,617 $ 3,811 $ 2,056 $ (7,337 ) $ 105,147 For the nine months ended September 30, 2019 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 21,827 $ 15,520 $ 6,473 $ — $ 43,820 Expenses Property operating 185 944 376 — 1,505 General and administrative — — — 4,269 4,269 Acquisition-related — — — 614 614 Amortization 6,958 3,001 409 — 10,368 Impairments 227 419 — — 646 Total expenses 7,370 4,364 785 4,883 17,402 Total other income and expenses 11,323 458 7,039 (21,142 ) (2,322 ) Income (loss) before income tax expense 25,780 11,614 12,727 (26,025 ) 24,096 Income tax expense — — — 3,635 3,635 Net income (loss) $ 25,780 $ 11,614 $ 12,727 $ (29,660 ) $ 20,461 For the nine months ended September 30, 2018 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 30,518 $ 13,537 $ 5,996 $ — $ 50,051 Expenses Property operating 214 510 151 — 875 General and administrative — — — 3,523 3,523 Acquisition-related — — — 469 469 Amortization 9,456 2,589 503 — 12,548 Impairments 785 195 — — 980 Total expenses 10,455 3,294 654 3,992 18,395 Total other income and expenses 105,286 190 609 (19,085 ) 87,000 Income (loss) before income tax expense 125,349 10,433 5,951 (23,077 ) 118,656 Income tax expense — — — 663 663 Net income (loss) $ 125,349 $ 10,433 $ 5,951 $ (23,740 ) $ 117,993 The Partnership’s total assets by segment were (in thousands): September 30, 2019 December 31, 2018 Segments Wireless communication $ 422,406 $ 433,254 Outdoor advertising 260,515 216,326 Renewable power generation 100,121 112,338 Corporate assets 20,964 24,695 Total assets $ 804,006 $ 786,613 The following table represents the Partnership’s rental revenues by geographic location (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 United States $ 12,631 $ 16,450 $ 38,862 $ 47,346 Europe 1,471 851 3,987 2,045 Australia 283 244 926 616 Canada 17 15 45 44 Total rental revenue $ 14,402 $ 17,560 $ 43,820 $ 50,051 The following table represents the Partnership’s total assets by geographic location (in thousands): September 30, 2019 December 31, 2018 United States $ 698,490 $ 720,331 Europe 92,047 53,850 Australia 12,634 11,830 Canada 835 602 Total assets $ 804,006 $ 786,613

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies The Partnership’s commitments and contingencies include customary claims and obligations incurred in the normal course of business. In the opinion of management, these matters will not have a material effect on the Partnership’s consolidated financial position. There has been consolidation in the wireless communication industry historically that has led to certain lease terminations. The past consolidation in the wireless industry has led to rationalization of wireless networks and reduced demand for tenant sites. We believe the impact of past consolidation is already reflected in our occupancy rates. In April 2018, T-Mobile and Sprint announced a proposed merger. Significant consolidation among our tenants in the wireless communication industry (or our tenants’ sub‑lessees) may result in the decommissioning of certain existing communications sites, because certain portions of these tenants’ (or their sub‑lessees’) networks may be redundant. The impact of any future consolidation in the wireless communication industry and the termination of additional leases in our portfolio would result in lower rental revenue and may lead to impairment of our real property interests or other adverse effects to our business. As of September 30, 2019, the Partnership had approximately $65.8 million of real property interests subject to subordination to lenders of the underlying property. To the extent a lender forecloses on a property the Partnership would take impairment charges for the book value of the asset and no longer be entitled to the revenue associated with the asset. Substantially all of our tenant sites are subject to triple net or effectively triple-net lease arrangements, which require the tenant or the underlying property owner to pay all utilities, property taxes, insurance and repair and maintenance costs. Our overall financial results could be impacted to the extent the owners of the fee interest in the real property or our tenants do not satisfy their obligations.

Tenant Concentration

Tenant Concentration	9 Months Ended
	Sep. 30, 2019
Risks And Uncertainties [Abstract]
Tenant Concentration	16. Tenant Concentration For the three and nine months ended September 30, 2019 and 2018, the Partnership had the following tenant revenue concentrations: Three Months Ended September 30, Nine Months Ended September 30, Tenant 2019 2018 2019 2018 Clear Channel 13.4 % 10.9 % 13.4 % 10.9 % T-Mobile 8.3 % 10.0 % 8.3 % 10.3 % AT&T Mobility 7.0 % 9.7 % 7.2 % 10.0 % Sprint 5.9 % 8.2 % 5.9 % 8.6 % 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. The loss of any one of our large customers as a result of consolidation, merger, bankruptcy, insolvency, network sharing, roaming, joint development, resale agreements by our customers or otherwise may result in (1) a material decrease in our revenue, (2) uncollectible account receivables, (3) an impairment of our deferred site rental receivables, wireless infrastructure assets, site rental contracts or customer relationships intangible assets, or (4) other adverse effects to our business.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	17. Supplemental Cash Flow Information Noncash investing and financing activities for the nine months ended September 30, 2019 and 2018 were as follows (in thousands): Nine Months Ended September 30, 2019 2018 Capital contribution to fund general and administrative expense reimbursement $ 930 $ 289 Purchase price for acquisitions included in due to Landmark and affiliates — 436 Issuance of common units for assets acquired from Fund H — 27,342 Unit Exchange Program acquisitions — 6,750 Distributions payable to preferred unitholders 1,769 1,718 Deferred loan costs included in accounts payable and accrued liabilities — 50 Accretion of Series C preferred units 546 — Conversion of Series C preferred units 283 — Initial recognition of lease liabilities related to right of use assets 10,220 — Investment in unconsolidated joint venture — (65,611 ) Total assets contributed to the unconsolidated joint venture — 157,045 Total liabilities contributed to the unconsolidated joint venture — (125,888 ) Declared distributions receivable from the unconsolidated joint venture (500 ) — Purchase price for acquisitions and construction activities included in accounts payable 1,099 1,452 Deemed contribution by the General Partner 591 197 Deemed distribution by the General Partner (591 ) (197 ) Cash flows related to interest and income taxes paid were as follows (in thousands): Nine Months Ended September 30, 2019 2018 Cash paid for interest $ 10,591 $ 16,135 Capitalized interest 1,349 479 Income taxes paid 2,139 74

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Event	18. Subsequent Event On October 9, 2019, the Partnership completed an acquisition of a real property interest for total consideration of $24.3 million.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
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 nine months ended September 30, 2019 and 2018 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 nine months ended September 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. 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. 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 conducts certain activities that may not generate qualifying income and will be treated as a corporation for U.S. federal income tax purposes. 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 follows the requirements of ASC Topic 740, Income Taxes
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.
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 June 2018, the FASB issued ASU No. 2018-07, Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting In June 2016, the FASB issued ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments Financial Instruments – Credit Losses Codification Improvements to Topic 326, Financial Instruments – Credit Losses In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) In March 2018, the FASB approved an optional practical expedient that would allow lessors to elect, by class of underlying asset, to not separate nonlease components from the related lease components. The practical expedient is limited to circumstances in which both (1) the timing and pattern of revenue recognition are the same for the nonlease component and related lease component and (2) the combined single lease component would be classified as an operating lease. If a lessee makes payments for taxes and insurance directly to a third party on behalf of a lessor, lessors are required to exclude them from variable payments and from recognition in the lessors’ income statements. Otherwise, tenant recoveries for taxes and insurance are classified as additional lease revenue recognized by the lessor on a gross basis in their income statements. The FASB has also clarified that the lease ASU will require an assessment of whether a land easement meets the definition of a lease under the new lease ASU. An entity with land easements that are not accounted for as leases under the current lease accounting standards, however, may elect a practical expedient to exclude those land easements from assessment under the new lease accounting standards (ASU No 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842) The Partnership adopted the guidance as of January 1, 2019. We elected to adopt the following practical expedients provided by these ASUs: • Package of practical expedients – requires us to not reevaluate our existing or expired leases as of January 1, 2019, under the new lease accounting ASUs. The election of the package of practical expedients allowed us to not reassess whether any expired or existing contracts are or contain leases and not reassess lease classification for any expired or existing leases that commenced prior to January 1, 2019. The package of practical expedients also allowed an entity to not reassess initial direct costs for any existing leases. The Partnership has not incurred such initial direct costs for leases. Consequently, the adoption of the new lease ASUs had no effect on our accounting of initial direct cost on January 1, 2019. • Optional transition method practical expedient – requires us to apply the new lease ASUs prospectively from the adoption date of January 1, 2019. • Land easements practical expedient – requires us to account for land easements existing as of January 1, 2019, under the accounting standards applied to them prior to January 1, 2019. The Partnership’s land easements are primarily prepaid and included on the Consolidated Balance Sheets in real property interest, the impact of the adoption of the easement related provisions does not have a significant impact on our Consolidated Financial Statements. • Single component practical expedient – requires us to account for lease and nonlease components associated with that lease under the new lease ASUs, if certain criteria are met. Our operating leases commencing or modified after January 1, 2019, for which we are the lessor are expected to qualify for the single component practical expedient accounting. • Short-term leases practical expedient – for our operating leases with a term of 12 months or less in which we are the lessee, this expedient requires us to not record on our balance sheets related lease liabilities and right-of-use assets. For acquisitions subsequent to the adoption of the new lease ASUs on January 1, 2019, the Partnership evaluates whether an easement meets the definition of a lease under the new lease ASU. The Partnership determines if an arrangement is a lease at the inception of the agreement. The Partnership considers an arrangement to be a lease if it conveys the right to control the use of the leased site or ground space underneath a leased site for a period of time in exchange for consideration. The Partnership is both a lessor and a lessee. While most of our leases are and will continue to be classified as operating leases in which the Partnership is the lessor, the Partnership is the lessee in an insignificant population of leases that have recurring ground lease rental payments. We applied the modified retrospective transition method and practical expedients mentioned above to all leases existing at January 1, 2019. The adoption of ASC 842 resulted in the recognition of right-of-use (“ROU”) assets and lease liabilities in the Consolidated Balance Sheets on January 1, 2019 for leases of $7.6 million, based on the present value of the remaining minimum rental payments using each respective lease term and a corresponding incremental borrowing rate. We used a discount rate of approximately 4.5%, which is the interest rate that we estimate we would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments. The ASUs did not significantly affect the calculations of our debt covenants. As of September 30, 2019, ROU assets were included in in real property interests in the Consolidated Balance Sheets. The following table represents the future minimum ground lease payments as of September 30, 2019 (in thousands). 2019 (three months) $ 139 2020 566 2021 578 2022 590 2023 606 Thereafter 13,859 Total $ 16,338

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2019
Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]
Schedule of Future Minimum Ground Lease Payments	The following table represents the future minimum ground lease payments as of September 30, 2019 (in thousands). 2019 (three months) $ 139 2020 566 2021 578 2022 590 2023 606 Thereafter 13,859 Total $ 16,338

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2019
Drop-down Acquisitions
Business Acquisition [Line Items]
Schedule of Acquisitions	The following table presents the Drop-down Acquisition completed by the Partnership during 2018: Number of Tenant Sites Consideration (in millions) Acquisition Date Source Wireless Communication Outdoor Advertising Renewable Power Generation Total Borrowings and Available Cash Common Units Total January 18, 2018 Fund H 30 90 7 127 $ 32.6 $ 27.3 $ 59.9 2018 Acquisitions 30 90 7 127 $ 32.6 $ 27.3 $ 59.9
Third Party Acquisitions
Business Acquisition [Line Items]
Schedule of Acquisitions	The following table presents direct third-party acquisitions completed by the Partnership during the nine months ended September 30, 2019 and the year ended December 31, 2018: No. of Tenant Sites Consideration (in millions) Acquisition Description Wireless Communication Outdoor Advertising Renewable Power Generation Total Borrowings and Available Cash Common Units Total 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 2019 Total 1 121 8 130 $ 17.2 $ — $ 17.2 First Quarter UEP 5 1 — 6 $ — $ 3.2 $ 3.2 Domestic 15 12 — 27 21.3 — 21.3 Total 20 13 — 33 $ 21.3 $ 3.2 $ 24.5 Second Quarter International — 8 — 8 $ 7.3 $ — $ 7.3 UEP 7 1 — 8 0.6 1.8 2.4 Domestic 3 1 — 4 21.5 — 21.5 Total 10 10 — 20 $ 29.4 $ 1.8 $ 31.2 Third Quarter International 2 12 — 14 $ 14.2 $ — $ 14.2 UEP 10 — — 10 0.9 1.8 2.7 Domestic 2 11 — 13 2.0 — 2.0 Total 14 23 — 37 $ 17.1 $ 1.8 $ 18.9 Fourth Quarter International — 8 — 8 $ 0.2 $ — $ 0.2 UEP 4 — — 4 — 0.9 0.9 Domestic 1 1 — 2 0.1 — 0.1 Total 5 9 — 14 $ 0.3 $ 0.9 $ 1.2 2018 Total 49 55 — 104 $ 68.1 $ 7.7 $ 75.8

Real Property Interests (Tables

Real Property Interests (Tables)	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Summary of the Partnership's Real Property Interests	The following table summarizes the Partnership’s real property interests (in thousands): September 30, 2019 December 31, 2018 Land $ 136,221 $ 128,302 Real property interests – perpetual 104,036 101,343 Real property interests – finite life 400,418 416,080 Real property interests – ROU assets 18,849 — Total real property interests 523,303 517,423 Construction in progress 58,507 29,556 Total land and real property interests 718,031 675,281 Accumulated amortization of real property interests (46,753 ) (39,069 ) Land and net real property interests $ 671,278 $ 636,212
Schedule of Allocation of Estimated Fair Values of the Assets Acquired and Liabilities Assumed	The following table summarizes final allocations for acquisitions during the nine months ended September 30, 2019 and the year ended December 31, 2018 of estimated fair values of the assets acquired and liabilities assumed (in thousands). Investments in In-place Above-market Below-market real property lease lease lease ROU Lease Period Land interests intangibles intangibles intangibles Asset liability Total 2019 $ 8,038 $ 478 $ 537 $ 81 $ (22 ) $ 9,629 $ (732 ) $ 18,009 2018 16,646 91,314 7,939 1,309 (2,031 ) — — 115,177
Schedule of Future Estimated Amortization of Finite Lived Real Property Interests	Future estimated aggregate amortization of finite lived real property interests for each of the five succeeding fiscal years and thereafter as of September 30, 2019, are as follows (in thousands): 2019 (three months) $ 2,831 2020 11,433 2021 10,817 2022 10,453 2023 10,361 Thereafter 326,619 Total $ 372,514
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): September 30, 2019 December 31, 2018 Land $ — $ 1,286 Real property interests, net 392 5,566 Other intangible assets, net — 994 AHFS $ 392 $ 7,846 Other intangible liabilities, net $ — $ 397 Liabilities associated with AHFS $ — $ 397

Other Intangible Assets and L_2

Other Intangible Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Other Intangible Assets And Liabilities [Abstract]
Summary of Identifiable Intangible Assets, Including Above/Below Market Lease Intangibles	The following table summarizes our identifiable intangible assets, including above/below‑market lease intangibles (in thousands): September 30, 2019 December 31, 2018 Acquired in-place lease Gross amount $ 23,546 $ 23,261 Accumulated amortization (7,442 ) (6,237 ) Net amount $ 16,104 $ 17,024 Acquired above-market leases Gross amount $ 6,617 $ 6,542 Accumulated amortization (3,252 ) (2,727 ) Net amount $ 3,365 $ 3,815 Total other intangible assets, net $ 19,469 $ 20,839 Acquired below-market leases Gross amount $ (16,724 ) $ (17,097 ) Accumulated amortization 8,801 7,806 Total other intangible liabilities, net $ (7,923 ) $ (9,291 )
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 September 30, 2019 follows (in thousands): Acquired in-place leases Acquired above-market Acquired below-market 2019 (three months) $ 423 $ 170 $ (385 ) 2020 1,670 537 (1,507 ) 2021 1,604 431 (1,373 ) 2022 1,508 352 (1,251 ) 2023 1,214 314 (806 ) Thereafter 9,685 1,561 (2,601 ) Total $ 16,104 $ 3,365 $ (7,923 )

Investments in Receivables (Tab

Investments in Receivables (Tables)	9 Months Ended
	Sep. 30, 2019
Notes Receivable Net [Abstract]
Activity in investments in receivables	The following table reflects the activity in investments in receivables (in thousands): September 30, 2019 December 31, 2018 Investments in receivables – beginning $ 18,348 $ 20,782 Impairments — (785 ) Sales (8,331 ) (350 ) Other (742 ) — Repayments (430 ) (1,108 ) Interest accretion 9 3 Foreign currency translation adjustment (113 ) (194 ) Investments in receivables – ending $ 8,741 $ 18,348
Annual amounts due	Annual amounts due as of September 30, 2019, are as follows (in thousands): 2019 (three months) $ 326 2020 1,297 2021 1,345 2022 1,463 2023 1,570 Thereafter 11,421 Total $ 17,422 Interest $ 8,681 Principal 8,741 Total $ 17,422

Investment in Unconsolidated _2

Investment in Unconsolidated Joint Venture (Tables)	9 Months Ended
	Sep. 30, 2019
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): September 30, 2019 December 31, 2018 Total assets $ 256,836 $ 263,228 Total liabilities 128,362 128,448 Total equity 128,474 134,780 Total liabilities and equity $ 256,836 $ 263,228
Summary of Financial Information for Unconsolidated JV	The following table summarizes financial information for the unconsolidated JV (in thousands): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Rental revenue $ 3,559 $ 10,702 Net income 307 526 Partnership's share in income 154 263 Distributions declared to the Partnership 800 3,383

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Partnership's debt	The following table summarizes the Partnership’s debt (in thousands): Outstanding Balance Maturity Date September 30, 2019 December 31, 2018 Revolving credit facility November 15, 2023 $ 175,313 $ 155,000 4.38% senior secured notes June 30, 2036 $ 41,061 $ 42,058 Series 2017-1 Class A 4.10% November 15, 2022 (1) 59,587 60,900 Series 2017-1 Class B 3.81% November 15, 2022 (1) 17,261 17,563 Series 2016-1 Class A 3.52% June 1, 2021 (2) 83,341 86,258 Series 2016-1 Class B 7.02% June 1, 2021 (2) 25,100 25,100 Secured Notes 226,350 231,879 Discount on Secured Notes (1,174 ) (1,454 ) Deferred loan costs (5,641 ) (6,740 ) Secured Notes, net $ 219,535 $ 223,685 (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 September 30, 2019, are as follows (in thousands): 2019 (three months) $ 2,834 2020 10,313 2021 (1) 108,013 2022 72,440 2023 2,714 Thereafter (1) 30,036 Total $ 226,350 (1) Reflects anticipated repayment dates

Interest Rate Swap Agreements (

Interest Rate Swap Agreements (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Table Summarizing Terms and Fair Value of Interest Rate Swaps	The following table summarizes the terms and fair value of the Partnerships’ interest rate swap agreements (in thousands, except percentages): Date Notional Fixed Effective Maturity Fair Value Asset (Liability) at Entered Value Rate Index Date Date September 30, 2019 December 31, 2018 February 5, 2015 $ 25,000 1.29 % 1-month USD LIBOR 4/13/2015 4/13/2019 $ — $ 102 August 24, 2015 50,000 1.74 1-month USD LIBOR 10/1/2015 10/1/2022 (460 ) 1,259 March 23, 2016 50,000 1.67 1-month USD LIBOR 12/24/2018 12/24/2021 (226 ) 1,117 March 31, 2016 20,000 1.56 1-month USD LIBOR 12/24/2018 12/24/2021 (44 ) 508 March 31, 2016 25,000 1.63 1-month USD LIBOR 4/13/2019 4/13/2022 (116 ) 569 June 12, 2017 50,000 2.10 1-month USD LIBOR 3/2/2018 9/2/2024 (1,590 ) 1,035 November 15, 2018 £ 38,000 1.49 1-month GBP LIBOR 11/30/2020 11/30/2025 (2,329 ) (402 ) $ (4,765 ) $ 4,188
Table Summarizing Fair Values of Sensitivity Analysis	The following table summarizes the fair values of the interest rate swaps as a result of the analysis performed (in thousands): Effects of Change in Interest Rates Date Entered Maturity Date +50 Basis Points -50 Basis Points +100 Basis Points -100 Basis Points August 24, 2015 10/1/2022 $ 225 $ (1,202 ) $ 919 $ (1,935 ) March 23, 2016 12/24/2021 288 (768 ) 805 (1,308 ) March 31, 2016 12/24/2021 162 (260 ) 369 (475 ) March 31, 2016 4/13/2022 179 (428 ) 476 (739 ) June 12, 2017 9/2/2024 (517 ) (2,880 ) 617 (4,110 ) November 15, 2018 11/30/2025 (1,320 ) (3,741 ) (179 ) (5,023 )

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2019
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 Subordinated Preferred Preferred Preferred Balance as of December 31, 2017 20,146,458 3,135,109 1,568,402 2,463,015 — Issuance of units to Fund H - January 18, 2018 1,506,421 — — — — Conversion of subordinated units 3,135,109 (3,135,109 ) — — — Issuance of Series C Preferred Units - April 2, 2018 — — — — 2,000,000 Issuance under ATM Programs 27,830 — 24,747 — — Issuance under Unit Exchange Program 446,416 — — — — Unit-based compensation 3,826 — — — — Balance as of September 30, 2018 25,266,060 — 1,593,149 2,463,015 2,000,000 Balance as of December 31, 2018 25,327,801 — 1,593,149 2,463,015 2,000,000 Conversion of Series C Preferred Units 14,708 — — — (11,300 ) Issuance under ATM Programs — — 81,007 81,778 — Unit-based compensation 10,631 — — — — Balance as of September 30, 2019 25,353,140 — 1,674,156 2,544,793 1,988,700
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 and Subordinated Units and IDRs September 30, 2018 (1) October 26, 2018 November 14, 2018 $ 0.3675 $ 9,285 December 31, 2018 (1) January 25, 2019 February 14, 2019 0.3675 9,312 March 31, 2019 (1) April 19, 2019 May 15, 2019 0.3675 9,312 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 Series A Preferred Units September 30, 2018 September 20, 2018 October 15, 2018 $ 0.5000 $ 797 December 31, 2018 December 20, 2018 January 15, 2019 0.5000 797 March 31, 2019 March 21, 2019 April 15, 2019 0.5000 797 June 30, 2019 June 20, 2019 July 15, 2019 0.5000 828 September 30, 2019 September 20, 2019 October 15, 2019 0.5000 837 Series B Preferred Units September 30, 2018 October 22, 2018 November 15, 2018 $ 0.4938 $ 1,216 December 31, 2018 January 22, 2019 February 15, 2019 0.4938 1,216 March 31, 2019 April 19, 2019 May 15, 2019 0.4938 1,216 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 Series C Preferred Units September 30, 2018 October 22, 2018 November 15, 2018 $ 0.4382 $ 876 December 31, 2018 January 22, 2019 February 15, 2019 0.4571 914 March 31, 2019 April 19, 2019 May 15, 2019 0.4614 923 June 30, 2019 July 19, 2019 August 15, 2019 0.4510 902 September 30, 2019 October 22, 2019 November 15, 2019 0.4375 870 (1) The General Partner irrevocably waived its right to receive the incentive distribution and incentive allocations related to the respective quarterly distribution.

Net Income (Loss) Per Limited_2

Net Income (Loss) Per Limited Partner Unit (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Unit [Abstract]
Schedule of Calculation of Undistributed Net Loss	The calculation of the undistributed net loss attributable to common unitholders for the three and nine months ended September 30, 2019 and 2018 follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net income attributable to limited partners $ 3,979 $ 105,139 $ 20,438 $ 117,973 Less: Distributions declared on Preferred Units (2,985 ) (2,868 ) (8,900 ) (7,742 ) General partner's incentive distribution rights (1) (197 ) (197 ) (591 ) (587 ) Accretion of Series C preferred units (96 ) — (546 ) — Net income attributable to common unitholders 701 102,074 10,401 109,644 Distributions declared on common units (9,317 ) (9,285 ) (27,941 ) (27,710 ) Undistributed net income (loss) $ (8,616 ) $ 92,789 $ (17,540 ) $ 81,934
Calculation of Net Income (Loss) per Unit	The calculation of net income per common unit for the three months ended September 30, 2019 and 2018 follows (in thousands, except per unit data): Three Months Ended September 30, 2019 2018 Common Units Common Units Distributions declared $ 9,317 $ 9,285 Undistributed net loss (8,616 ) 92,789 Net income attributable to common units - basic 701 102,074 Distributions on dilutive preferred units — 868 Net income attributable to common units - diluted $ 701 $ 102,942 Weighted-average units outstanding: Basic 25,341 25,138 Effect of dilutive preferred units — 2,603 Diluted 25,341 27,741 Net income per common unit: Basic $ 0.03 $ 4.06 Diluted (1) $ 0.03 $ 3.71 (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 three months ended September 30, 2019 and, as a result, have been excluded in the determination of diluted net income (loss) per common unit. Potential common unit equivalents are dilutive for the three months ended September 30, 2018 and, as a result, have been included in the determination of diluted net income (loss) per common unit. The calculation of net income (loss) per common and subordinated unit for the nine months ended September 30, 2019 and 2018 follows (in thousands, except per unit data): Nine Months Ended September 30, 2019 2018 Common Units Common Units Subordinated Units Distributions declared $ 27,941 $ 27,710 $ — Undistributed net loss (17,540 ) 82,237 (303 ) Net income (loss) attributable to common and subordinated units - basic 10,401 109,947 (303 ) Net loss attributable to subordinated units — (303 ) — Distributions on dilutive preferred units — 1,736 — Net income (loss) attributable to common and subordinated units - diluted $ 10,401 $ 111,380 $ (303 ) Weighted-average units outstanding: Basic 25,339 24,405 517 Effect of dilutive subordinated units — 517 — Effect of dilutive preferred units — 1,736 — Diluted 25,339 26,658 517 Net income (loss) per common and subordinated unit: Basic $ 0.41 $ 4.51 $ (0.59 ) Diluted (1)(2) $ 0.41 $ 4.18 $ (0.59 ) (1) The Partnership Agreement provides that when the subordination period ends, each outstanding subordinated unit will convert into one Common Unit and will thereafter participate pro rata with the other Common Units in distributions of available cash. (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 nine months ended September 30, 2019 and, as a result, have been excluded in the determination of diluted net income (loss) per common unit. Potential common unit equivalents are dilutive for the three months ended September 30, 2018 and, as a result, have been included in the determination of diluted net income (loss) per common unit.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Table Summarizing the Carrying Amounts and Fair Values of Financial Instruments Which are Not Carried at Fair Value	The table below summarizes the carrying amounts and fair values of financial instruments which are not carried at fair value on the face of the financial statements (in thousands): September 30, 2019 December 31, 2018 Carrying amount Fair Value Carrying amount Fair Value Investment in receivables, net $ 8,741 $ 8,966 $ 18,348 $ 18,867 Revolving credit facility 175,313 175,313 155,000 155,000 Secured Notes, net 219,535 224,199 223,685 224,333
Assets and Liabilities Measured at Fair Value on a Recurring Basis	As of September 30, 2019 and December 31, 2018, the Partnership measured the following assets at fair value on a recurring basis (in thousands): September 30, 2019 December 31, 2018 Derivative Assets (1) $ — $ 4,590 Derivative Liabilities (1) 4,765 402 (1) Fair value is calculated using level 2 inputs. Level 2 inputs are quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model‑derived valuations in which significant inputs and significant value drivers are observable in active markets.

Related-Party Transactions (Tab

Related-Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Schedule of Right of First Offer acquisitions	During the nine months ended September 30, 2018, the Partnership completed the following ROFO acquisitions: Common Units Total No. of Total Total Issued to Acquired Total No. Investments in Consideration Common Units Landmark Acquisition Date Fund of Tenant Sites Receivables (in millions) Issued and Affiliates January 18, 2018 Fund H 127 — $ 59.9 1,506,421 —

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of Statement of Operations by Reportable Segment	For the three months ended September 30, 2019 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 7,185 $ 5,221 $ 1,996 $ — $ 14,402 Expenses Property operating 30 374 31 — 435 General and administrative — — — 1,288 1,288 Acquisition-related — — — 119 119 Amortization 2,282 993 120 — 3,395 Impairments 227 215 — — 442 Total expenses 2,539 1,582 151 1,407 5,679 Total other income and expenses 361 338 20 (5,228 ) (4,509 ) Income (loss) before income tax expense (benefit) 5,007 3,977 1,865 (6,635 ) 4,214 Income tax expense — — — 228 228 Net income (loss) $ 5,007 $ 3,977 $ 1,865 $ (6,863 ) $ 3,986 For the three months ended September 30, 2018 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 10,511 $ 4,989 $ 2,060 $ — $ 17,560 Expenses Property operating 141 185 34 — 360 General and administrative — — — 735 735 Acquisition-related — — — 88 88 Amortization 3,155 962 176 — 4,293 Impairments 785 92 — — 877 Total expenses 4,081 1,239 210 823 6,353 Total other income and expenses 100,187 61 206 (6,054 ) 94,400 Income (loss) before income tax expense 106,617 3,811 2,056 (6,877 ) 105,607 Income tax expense — — — 460 460 Net income (loss) $ 106,617 $ 3,811 $ 2,056 $ (7,337 ) $ 105,147 For the nine months ended September 30, 2019 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 21,827 $ 15,520 $ 6,473 $ — $ 43,820 Expenses Property operating 185 944 376 — 1,505 General and administrative — — — 4,269 4,269 Acquisition-related — — — 614 614 Amortization 6,958 3,001 409 — 10,368 Impairments 227 419 — — 646 Total expenses 7,370 4,364 785 4,883 17,402 Total other income and expenses 11,323 458 7,039 (21,142 ) (2,322 ) Income (loss) before income tax expense 25,780 11,614 12,727 (26,025 ) 24,096 Income tax expense — — — 3,635 3,635 Net income (loss) $ 25,780 $ 11,614 $ 12,727 $ (29,660 ) $ 20,461 For the nine months ended September 30, 2018 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 30,518 $ 13,537 $ 5,996 $ — $ 50,051 Expenses Property operating 214 510 151 — 875 General and administrative — — — 3,523 3,523 Acquisition-related — — — 469 469 Amortization 9,456 2,589 503 — 12,548 Impairments 785 195 — — 980 Total expenses 10,455 3,294 654 3,992 18,395 Total other income and expenses 105,286 190 609 (19,085 ) 87,000 Income (loss) before income tax expense 125,349 10,433 5,951 (23,077 ) 118,656 Income tax expense — — — 663 663 Net income (loss) $ 125,349 $ 10,433 $ 5,951 $ (23,740 ) $ 117,993
Schedule of Total Assets by Reportable Segment	The Partnership’s total assets by segment were (in thousands): September 30, 2019 December 31, 2018 Segments Wireless communication $ 422,406 $ 433,254 Outdoor advertising 260,515 216,326 Renewable power generation 100,121 112,338 Corporate assets 20,964 24,695 Total assets $ 804,006 $ 786,613
Schedule of Rental Revenues by Geographic Location	The following table represents the Partnership’s rental revenues by geographic location (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 United States $ 12,631 $ 16,450 $ 38,862 $ 47,346 Europe 1,471 851 3,987 2,045 Australia 283 244 926 616 Canada 17 15 45 44 Total rental revenue $ 14,402 $ 17,560 $ 43,820 $ 50,051
Schedule of Total Assets by Geographic Location	The following table represents the Partnership’s total assets by geographic location (in thousands): September 30, 2019 December 31, 2018 United States $ 698,490 $ 720,331 Europe 92,047 53,850 Australia 12,634 11,830 Canada 835 602 Total assets $ 804,006 $ 786,613

Tenant Concentration (Tables)

Tenant Concentration (Tables)	9 Months Ended
	Sep. 30, 2019
Risks And Uncertainties [Abstract]
Schedule of Tenant Revenue Concentrations	For the three and nine months ended September 30, 2019 and 2018, the Partnership had the following tenant revenue concentrations: Three Months Ended September 30, Nine Months Ended September 30, Tenant 2019 2018 2019 2018 Clear Channel 13.4 % 10.9 % 13.4 % 10.9 % T-Mobile 8.3 % 10.0 % 8.3 % 10.3 % AT&T Mobility 7.0 % 9.7 % 7.2 % 10.0 % Sprint 5.9 % 8.2 % 5.9 % 8.6 %

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Information [Abstract]
Schedule of Noncash Activities	Noncash investing and financing activities for the nine months ended September 30, 2019 and 2018 were as follows (in thousands): Nine Months Ended September 30, 2019 2018 Capital contribution to fund general and administrative expense reimbursement $ 930 $ 289 Purchase price for acquisitions included in due to Landmark and affiliates — 436 Issuance of common units for assets acquired from Fund H — 27,342 Unit Exchange Program acquisitions — 6,750 Distributions payable to preferred unitholders 1,769 1,718 Deferred loan costs included in accounts payable and accrued liabilities — 50 Accretion of Series C preferred units 546 — Conversion of Series C preferred units 283 — Initial recognition of lease liabilities related to right of use assets 10,220 — Investment in unconsolidated joint venture — (65,611 ) Total assets contributed to the unconsolidated joint venture — 157,045 Total liabilities contributed to the unconsolidated joint venture — (125,888 ) Declared distributions receivable from the unconsolidated joint venture (500 ) — Purchase price for acquisitions and construction activities included in accounts payable 1,099 1,452 Deemed contribution by the General Partner 591 197 Deemed distribution by the General Partner (591 ) (197 )
Schedule of Cash Flows Related to Interest Paid	Cash flows related to interest and income taxes paid were as follows (in thousands): Nine Months Ended September 30, 2019 2018 Cash paid for interest $ 10,591 $ 16,135 Capitalized interest 1,349 479 Income taxes paid 2,139 74

Business (Details)

Business (Details) - Limited Partners - Common Units - shares	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Partnership Equity
Number of units held (in shares)	25,353,140	25,339,000	25,338,000	25,327,801	25,266,060	25,131,000	25,006,000	20,146,458
Landmark Dividend LLC
Partnership Equity
Number of units held (in shares)	3,415,405

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Recently Issued Accounting Standards (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
Accounting Policies [Abstract]
Right-of-use assets		$ 7,600
Lease liabilities	$ 10,076	$ 7,600
Discount rate		4.50%

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Future Minimum Ground Lease Payments (Details) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
2019 (three months)	$ 139
2020	566
2021	578
2022	590
2023	606
Thereafter	13,859
Total	$ 16,338

Acquisitions - Drop-down Acquis

Acquisitions - Drop-down Acquisitions - General Information (Details) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)item	Dec. 31, 2018USD ($)
Acquisitions
Consideration	$ 17.2		$ 75.8
Landmark, General Partner and affiliates | Acquisition from related party | 2018 Drop-down Acquisitions
Acquisitions
Number of drop-down acquisitions | item		1
Consideration		$ 59.9
Net carry value		$ 39.5

Acquisitions - Drop-down Acqu_2

Acquisitions - Drop-down Acquisitions - Summary of Acquisitions Completed (Details) $ in Thousands	Jan. 18, 2018USD ($)site	Sep. 30, 2019USD ($)site	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)site
Acquisitions
Number of tenant sites acquired		130		104
Consideration
Borrowings and Available Cash | $		$ 17,200		$ 68,100
Common Units Issued to Landmark and Affiliates | $				7,700
Total | $		$ 17,200		$ 75,800
Wireless Communication
Acquisitions
Number of tenant sites acquired		1		49
Outdoor Advertising
Acquisitions
Number of tenant sites acquired		121		55
Renewable Power Generation
Acquisitions
Number of tenant sites acquired		8
Landmark Dividend Growth Fund H LLC
Consideration
Common Units Issued to Landmark and Affiliates | $			$ 27,342
Landmark Dividend Growth Fund H LLC | Acquisition from related party | 127-site fund H acquisition
Acquisitions
Number of tenant sites acquired	127
Consideration
Borrowings and Available Cash | $	$ 32,600
Common Units Issued to Landmark and Affiliates | $	27,300
Total | $	$ 59,900
Landmark Dividend Growth Fund H LLC | Acquisition from related party | 2018 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired	127
Consideration
Borrowings and Available Cash | $	$ 32,600
Common Units Issued to Landmark and Affiliates | $	27,300
Total | $	$ 59,900
Landmark Dividend Growth Fund H LLC | Wireless Communication | Acquisition from related party | 127-site fund H acquisition
Acquisitions
Number of tenant sites acquired	30
Landmark Dividend Growth Fund H LLC | Wireless Communication | Acquisition from related party | 2018 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired	30
Landmark Dividend Growth Fund H LLC | Outdoor Advertising | Acquisition from related party | 127-site fund H acquisition
Acquisitions
Number of tenant sites acquired	90
Landmark Dividend Growth Fund H LLC | Outdoor Advertising | Acquisition from related party | 2018 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired	90
Landmark Dividend Growth Fund H LLC | Renewable Power Generation | Acquisition from related party | 127-site fund H acquisition
Acquisitions
Number of tenant sites acquired	7
Landmark Dividend Growth Fund H LLC | Renewable Power Generation | Acquisition from related party | 2018 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired	7

Acquisitions - Third Party Acqu

Acquisitions - Third Party Acquisitions - General Information (Details) - shares	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
UEP
Acquisitions
Number of common units in connection with acquisition (in shares)	5,000,000	5,000,000

Acquisitions - Third Party Ac_2

Acquisitions - Third Party Acquisitions - Summary of Acquisitions Completed (Details) $ in Millions	3 Months Ended							9 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)site	Jun. 30, 2019USD ($)site	Mar. 31, 2019USD ($)site	Dec. 31, 2018USD ($)site	Sep. 30, 2018USD ($)site	Jun. 30, 2018USD ($)site	Mar. 31, 2018USD ($)site	Sep. 30, 2019USD ($)site	Dec. 31, 2018USD ($)site
Acquisitions
Number of tenant sites acquired								130	104
Consideration
Borrowings and Available Cash | $								$ 17.2	$ 68.1
Common Units Issued to Landmark and Affiliates | $									7.7
Consideration | $								$ 17.2	$ 75.8
International
Acquisitions
Number of tenant sites acquired	10	7	104	8	14	8
Consideration
Borrowings and Available Cash | $	$ 3.8	$ 6.7	$ 6	$ 0.2	$ 14.2	$ 7.3
Consideration | $	$ 3.8	$ 6.7	$ 6	$ 0.2	$ 14.2	$ 7.3
2019 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired			104
Consideration
Borrowings and Available Cash | $			$ 6
Consideration | $			$ 6
Domestic
Acquisitions
Number of tenant sites acquired	1	8		2	13	4	27
Consideration
Borrowings and Available Cash | $	$ 0.3	$ 0.4		$ 0.1	$ 2	$ 21.5	$ 21.3
Consideration | $	$ 0.3	$ 0.4		$ 0.1	$ 2	$ 21.5	$ 21.3
Unit Exchange Acquisitions
Acquisitions
Number of tenant sites acquired				4	10	8	6
Consideration
Borrowings and Available Cash | $					$ 0.9	$ 0.6
Common Units Issued to Landmark and Affiliates | $				$ 0.9	1.8	1.8	$ 3.2
Consideration | $				$ 0.9	$ 2.7	$ 2.4	$ 3.2
2019 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired		15
Consideration
Borrowings and Available Cash | $		$ 7.1
Consideration | $		$ 7.1
2018 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired							33
Consideration
Borrowings and Available Cash | $							$ 21.3
Common Units Issued to Landmark and Affiliates | $							3.2
Consideration | $							$ 24.5
2019 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired	11
Consideration
Borrowings and Available Cash | $	$ 4.1
Consideration | $	$ 4.1
2018 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired						20
Consideration
Borrowings and Available Cash | $						$ 29.4
Common Units Issued to Landmark and Affiliates | $						1.8
Consideration | $						$ 31.2
2018 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired					37
Consideration
Borrowings and Available Cash | $					$ 17.1
Common Units Issued to Landmark and Affiliates | $					1.8
Consideration | $					$ 18.9
2018 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired				14
Consideration
Borrowings and Available Cash | $				$ 0.3
Common Units Issued to Landmark and Affiliates | $				0.9
Consideration | $				$ 1.2
Wireless Communication
Acquisitions
Number of tenant sites acquired								1	49
Wireless Communication | International
Acquisitions
Number of tenant sites acquired					2
Wireless Communication | Domestic
Acquisitions
Number of tenant sites acquired	1			1	2	3	15
Wireless Communication | Unit Exchange Acquisitions
Acquisitions
Number of tenant sites acquired				4	10	7	5
Wireless Communication | 2018 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired							20
Wireless Communication | 2019 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired	1
Wireless Communication | 2018 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired						10
Wireless Communication | 2018 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired					14
Wireless Communication | 2018 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired				5
Outdoor Advertising
Acquisitions
Number of tenant sites acquired								121	55
Outdoor Advertising | International
Acquisitions
Number of tenant sites acquired	10	7	104	8	12	8
Outdoor Advertising | 2019 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired			104
Outdoor Advertising | Domestic
Acquisitions
Number of tenant sites acquired				1	11	1	12
Outdoor Advertising | Unit Exchange Acquisitions
Acquisitions
Number of tenant sites acquired						1	1
Outdoor Advertising | 2019 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired		7
Outdoor Advertising | 2018 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired							13
Outdoor Advertising | 2019 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired	10
Outdoor Advertising | 2018 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired						10
Outdoor Advertising | 2018 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired					23
Outdoor Advertising | 2018 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired				9
Renewable Power Generation
Acquisitions
Number of tenant sites acquired								8
Renewable Power Generation | Domestic
Acquisitions
Number of tenant sites acquired		8
Renewable Power Generation | 2019 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired		8

Real Property Interests - Summa

Real Property Interests - Summary of Real Property Interests (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Real Estate [Abstract]
Land	$ 136,221	$ 128,302
Real property interests – perpetual	104,036	101,343
Real property interests – finite life	400,418	416,080
Real property interests – ROU assets	18,849
Total real property interests	523,303	517,423
Construction in progress	58,507	29,556
Total land and real property interests	718,031	675,281
Accumulated amortization of real property interests	(46,753)	(39,069)
Land and net real property interests	$ 671,278	$ 636,212

Real Property Interests - Sale

Real Property Interests - Sale (Details) $ in Thousands	Jun. 27, 2019USD ($)	Jan. 04, 2019USD ($)	Sep. 30, 2019USD ($)site	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Real Property Interests
Cash consideration received	$ 31,800	$ 13,500
Gain (loss) on sale of real property interests, before income taxes	11,700	$ 5,900	$ 473	$ 100,039	$ 18,008	$ 100,039
Gain (loss) on sale of real property interests, after income taxes	$ 8,600
2 Wireless Communication Sites
Real Property Interests
Number of tenant sites sold | site			2
One Outdoor Advertising Site
Real Property Interests
Number of tenant sites sold | site			1
Two Wireless Communication Sites Held for Sale and One Outdoor Advertising Site
Real Property Interests
Cash consideration received			$ 1,100
Gain (loss) on sale of real property interests, before income taxes			$ 500

Real Property Interests - Acqui

Real Property Interests - Acquisitions (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)itemsite	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)site
Acquisitions
Construction in progress	$ 58,507		$ 58,507		$ 29,556
Number of tenant sites acquired | site			130		104
Measurement Input, Discount Rate | Minimum
Acquisitions
Discount rate used to estimate fair values (as a percent)	6		6
Measurement Input, Discount Rate | Maximum
Acquisitions
Discount rate used to estimate fair values (as a percent)	20		20
Joint Venture
Acquisitions
Number of tenant sites acquired | site			155
Investments in Receivables | item			1
Total net book value, one investment in receivable	$ 77,600		$ 77,600
Rental revenue generated by consolidated joint venture	1,500	$ 900	4,000	$ 2,000
Smart Enabled Infrastructure
Acquisitions
Construction in progress	$ 58,500		$ 58,500		$ 29,600
Construction completed on number of infrastructure sites | site					4
Infrastructure Sites Completion Cost of Construction					$ 1,500

Real Property Interests - Sum_2

Real Property Interests - Summary of Allocation of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair values of the assets acquired and liabilities assumed at the date of acquisition
Below market lease intangibles	$ (16,724)	$ (17,097)
Landmark, General Partner and affiliates | Acquisition from related party
Fair values of the assets acquired and liabilities assumed at the date of acquisition
Land	8,038	16,646
Investments in real property interests	478	91,314
Below market lease intangibles	(22)	(2,031)
ROU Asset	9,629
Lease liability	(732)
Total	18,009	115,177
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	537	7,939
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	$ 81	$ 1,309

Real Property Interests - Futur

Real Property Interests - Future Estimated Aggregate Amortization of Finite Lived Real Property Interests (Details) $ in Thousands	Sep. 30, 2019USD ($)
Future estimated aggregate amortization of real property interests
2019 (three months)	$ 2,831
2020	11,433
2021	10,817
2022	10,453
2023	10,361
Thereafter	326,619
Total	$ 372,514

Real Property Interests - Weigh

Real Property Interests - Weighted Average Remaining Amortization Period for Non-perpetual Real Property Interests (Details)	9 Months Ended
	Sep. 30, 2019
Real Estate [Abstract]
Weighted average remaining amortization period for non-perpetual real property interests	41 years

Real Property Interests - Impai

Real Property Interests - Impairment (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)site	Sep. 30, 2018USD ($)site	Sep. 30, 2019USD ($)site	Sep. 30, 2018USD ($)site
Impairment
Recognized impairment charge	$ 442,000	$ 877,000	$ 646,000	$ 980,000
Impaired Real Property Interest
Impairment
Number of real property interests impaired | site	4	1	6	2
Recognized impairment charge	$ 400,000	$ 100,000	$ 600,000	$ 200,000
Impaired real property interests	$ 0		$ 0

Real Property Interests - Uncon

Real Property Interests - Unconsolidated Joint Venture (Details) $ in Thousands	Jun. 27, 2019USD ($)	Jan. 04, 2019USD ($)	Sep. 24, 2018site	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)site	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Impaired Assets To Be Disposed Of By Method Other Than Sale [Line Items]
Gain on sale of real property interests	$ 11,700	$ 5,900		$ 473	$ 100,039	$ 18,008	$ 100,039
Net proceeds to repay the borrowings				154	59	263	59
Revolving Credit Facility
Impaired Assets To Be Disposed Of By Method Other Than Sale [Line Items]
Net proceeds to repay the borrowings					59,700
Unconsolidated Joint Venture
Impaired Assets To Be Disposed Of By Method Other Than Sale [Line Items]
Gain on sale of real property interests					$ 100,000		$ 100,000
Number of tenant site assets contributed | site			545		545
Net proceeds to repay the borrowings				$ 154		$ 263

Real Property Interests - Carry

Real Property Interests - Carrying Amounts of Major Classes of Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Real Estate [Abstract]
Land		$ 1,286
Real property interests, net	$ 392	5,566
Other intangible assets, net		994
AHFS	$ 392	7,846
Other intangible liabilities, net		397
Liabilities associated with AHFS		$ 397

Other Intangible Assets and L_3

Other Intangible Assets and Liabilities - Total Other Intangible Assets, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Other Intangible Assets
Net amount	$ 19,469	$ 20,839
Acquired in-place leases
Other Intangible Assets
Gross amount	23,546	23,261
Accumulated amortization	(7,442)	(6,237)
Net amount	16,104	17,024
Acquired above-market leases
Other Intangible Assets
Gross amount	6,617	6,542
Accumulated amortization	(3,252)	(2,727)
Net amount	$ 3,365	$ 3,815

Other Intangible Assets and L_4

Other Intangible Assets and Liabilities - Total Other Intangible Liabilities, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Acquired below-market leases
Below market lease intangibles	$ (16,724)	$ (17,097)
Accumulated amortization	8,801	7,806
Net amount	$ (7,923)	$ (9,291)

Other Intangible Assets and L_5

Other Intangible Assets and Liabilities - Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other Intangible Assets And Liabilities [Abstract]
Amortization of above-and below-market leases	$ 200	$ 300	$ 654	$ 1,008
Amortization expense	$ 400	$ 600	$ 1,300	$ 1,700

Other Intangible Assets and L_6

Other Intangible Assets and Liabilities - Future Aggregate Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Future amortization of lease intangibles
Net amount	$ 19,469	$ 20,839
Acquired in-place leases
Future amortization of lease intangibles
2019 (three months)	423
2020	1,670
2021	1,604
2022	1,508
2023	1,214
Thereafter	9,685
Net amount	16,104	17,024
Acquired above-market leases
Future amortization of lease intangibles
2019 (three months)	170
2020	537
2021	431
2022	352
2023	314
Thereafter	1,561
Net amount	$ 3,365	$ 3,815

Other Intangible Assets and L_7

Other Intangible Assets and Liabilities - Future Aggregate Amortization of Other Intangible Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Future amortization of acquired below-market leases
2019 (three months)	$ (385)
2020	(1,507)
2021	(1,373)
2022	(1,251)
2023	(806)
Thereafter	(2,601)
Net amount	$ (7,923)	$ (9,291)

Investments in Receivables - Ge

Investments in Receivables - General Information (Details) $ in Thousands	Jul. 21, 2015	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)Investment	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)Investment	Dec. 31, 2018USD ($)
Receivables With Imputed Interest [Line Items]
Payment collection period, minimum				2 years
Payment collection period, maximum				99 years
Number of investments receivables impaired | Investment			16		16
Recognized impairment charge			$ 800		$ 800	$ 785
Interest income recognized		$ 200	$ 400	$ 800	$ 1,300
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 - Ac

Investments in Receivables - Activity in Investments in Receivables (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Notes Receivable Net [Abstract]
Investments in receivables – beginning		$ 18,348	$ 20,782	$ 20,782
Impairments	$ (800)		(800)	(785)
Sales		(8,331)		(350)
Other		(742)
Repayments		(430)	$ (915)	(1,108)
Interest accretion		9		3
Foreign currency translation adjustment		(113)		(194)
Investments in receivables – ending		$ 8,741		$ 18,348

Investments in Receivables - An

Investments in Receivables - Annual Amounts Due (Details) $ in Thousands	Sep. 30, 2019USD ($)
Notes Receivable Net [Abstract]
2019 (three months)	$ 326
2020	1,297
2021	1,345
2022	1,463
2023	1,570
Thereafter	11,421
Total	$ 17,422

Investments in Receivables - _2

Investments in Receivables - Annual Amounts Due - Principal and Interest (Details) $ in Thousands	Sep. 30, 2019USD ($)
Notes Receivable Net [Abstract]
Interest	$ 8,681
Principal	8,741
Total	$ 17,422

Investment in Unconsolidated _3

Investment in Unconsolidated Joint Venture - Additional Information (Details)	Sep. 24, 2018USD ($)site	Jun. 06, 2018USD ($)	Jun. 16, 2016USD ($)	Sep. 30, 2018site	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Nov. 30, 2017USD ($)
Secured notes
Schedule Of Equity Method Investments [Line Items]
Aggregate principal amount		$ 125,400,000	$ 116,600,000				$ 80,000,000
Debt discount			17,292		$ 1,174,000	$ 1,454,000	$ 1,800,000
Secured notes | Maximum
Schedule Of Equity Method Investments [Line Items]
Debt discount		100,000
Senior secured revolving credit facility
Schedule Of Equity Method Investments [Line Items]
Repayment of debt		$ 120,500,000	$ 112,300,000
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			545
Aggregate principal amount	$ 125,400,000
Percentage of membership interest in unconsolidated JV	50.01%
Cash transaction in unconsolidated JV	$ 65,500,000

Investment in Unconsolidated _4

Investment in Unconsolidated Joint Venture - Summary of Balance Sheet Information for Unconsolidated JV (Details) - Unconsolidated Joint Venture - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Schedule Of Equity Method Investments [Line Items]
Total assets	$ 256,836	$ 263,228
Total liabilities	128,362	128,448
Total equity	128,474	134,780
Total liabilities and equity	$ 256,836	$ 263,228

Investment in Unconsolidated _5

Investment in Unconsolidated Joint Venture - Summary of Financial Information for Unconsolidated JV (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Schedule Of Equity Method Investments [Line Items]
Partnership's share in income	$ 154	$ 59	$ 263	$ 59
Distributions declared to the Partnership			2,883
Unconsolidated Joint Venture
Schedule Of Equity Method Investments [Line Items]
Rental revenue	3,559		10,702
Net income	307		526
Partnership's share in income	154		263
Distributions declared to the Partnership	$ 800		$ 3,383

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) £ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019GBP (£)	Dec. 31, 2018USD ($)	Nov. 30, 2017USD ($)	Jun. 16, 2016USD ($)
Debt
Outstanding Balance, revolving credit facility	$ 175,313,000		$ 155,000,000
Deferred loan costs	(4,854,000)		(5,552,000)
Secured Notes, net	219,535,000		223,685,000
Senior secured revolving credit facility
Debt
Outstanding Balance, revolving credit facility	$ 175,313,000	£ 40.5	155,000,000
Maturity Date	Nov. 15, 2023
4.38% senior secured notes
Debt
Outstanding Balance, secured debt	$ 41,061,000		42,058,000
Maturity Date	Jun. 30, 2036
Series 2017-1 Class A 4.10%
Debt
Outstanding Balance, secured debt	$ 59,587,000		60,900,000
Maturity Date	Nov. 15, 2022
Series 2017-1 Class B 3.81%
Debt
Outstanding Balance, secured debt	$ 17,261,000		17,563,000
Maturity Date	Nov. 15, 2022
Series 2016-1 Class A 3.52%
Debt
Outstanding Balance, secured debt	$ 83,341,000		86,258,000
Maturity Date	Jun. 1, 2021
Series 2016-1 Class B 7.02%
Debt
Outstanding Balance, secured debt	$ 25,100,000		25,100,000
Maturity Date	Jun. 1, 2021
Secured notes
Debt
Outstanding Balance, secured debt	$ 226,350,000		231,879,000
Discount on Secured Notes	(1,174,000)		(1,454,000)	$ (1,800,000)	$ (17,292)
Deferred loan costs	(5,641,000)		(6,740,000)
Secured Notes, net	$ 219,535,000		$ 223,685,000

Debt - Summary of Debt (Parenth

Debt - Summary of Debt (Parenthetical) (Details)	9 Months Ended
	Sep. 30, 2019
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 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. 1, 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. 1, 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 Facilit

Debt - Revolving Credit Facility (Details) $ in Thousands, £ in Millions	Nov. 15, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2019GBP (£)	Dec. 31, 2018USD ($)
Debt
Revolving credit facility		$ 175,313	$ 175,313		$ 155,000
Senior secured revolving credit facility
Debt
Annual commitment rate			0.175%
Maturity Date			Nov. 15, 2023
Revolving credit facility		175,313	$ 175,313	£ 40.5	$ 155,000
Undrawn borrowing capacity		$ 274,700	$ 274,700
Senior secured revolving credit facility | Base rate - federal funds rate
Debt
Applicable margin (as a percent)			1.75%
Senior secured revolving credit facility | Base rate - one month LIBOR
Debt
Applicable margin (as a percent)			2.25%
Senior secured revolving credit facility | Base rate
Debt
Applicable margin (as a percent)		2.00%
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		$ 2,400	$ 2,400

Debt - Secured Notes (Details)

Debt - Secured Notes (Details) - USD ($)	Jun. 06, 2018	Apr. 24, 2018	Nov. 30, 2017	Jun. 16, 2016	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Restricted cash reserved					$ 5,417,000	$ 3,672,000
Note Purchase Agreement
Debt Instrument [Line Items]
Aggregate principal amount		$ 43,700,000
Interest rate (as a percent)		4.38%
Maturity Date		Jun. 30, 2036
Debt instrument amortized, description					The 4.38% Senior Secured Notes are fully amortized through June 30, 2036
Outstanding Balance, secured debt					$ 41,100,000
Debt instrument, accrued interest					500,000
Note Purchase Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Net proceeds from borrowings		$ 41,000,000
Note Purchase Agreement | Maximum
Debt Instrument [Line Items]
Aggregate principal amount		$ 225,000,000
Secured notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 125,400,000		$ 80,000,000	$ 116,600,000
Outstanding Balance, secured debt					226,350,000	231,879,000
Acquisition costs, period cost			16,000,000
Debt discount			1,800,000	17,292	$ 1,174,000	1,454,000
Secured notes | Maximum
Debt Instrument [Line Items]
Debt discount	100,000
Senior secured revolving credit facility
Debt Instrument [Line Items]
Maturity Date					Nov. 15, 2023
Repayment of debt	$ 120,500,000			$ 112,300,000
Senior secured revolving credit facility | Maximum | Restricted Reserve Accounts
Debt Instrument [Line Items]
Repayment of debt			17,500,000
Senior secured revolving credit facility | Minimum | Restricted Reserve Accounts
Debt Instrument [Line Items]
Repayment of debt			$ 54,000,000
Series 2017-1 Class A 4.10%
Debt Instrument [Line Items]
Interest rate (as a percent)					4.10%
Maturity Date					Nov. 15, 2022
Outstanding Balance, secured debt					$ 59,587,000	60,900,000
Series 2017-1 Class B 3.81%
Debt Instrument [Line Items]
Interest rate (as a percent)					3.81%
Maturity Date					Nov. 15, 2022
Outstanding Balance, secured debt					$ 17,261,000	17,563,000
Series 2016-1 Class A 3.52%
Debt Instrument [Line Items]
Interest rate (as a percent)					3.52%
Maturity Date					Jun. 1, 2021
Outstanding Balance, secured debt					$ 83,341,000	86,258,000
Series 2016-1 Class B 7.02%
Debt Instrument [Line Items]
Interest rate (as a percent)					7.02%
Maturity Date					Jun. 1, 2021
Outstanding Balance, secured debt					$ 25,100,000	25,100,000
2017 Secured notes | Minimum
Debt Instrument [Line Items]
Debt service coverage ratio					200.00%
2016 Secured notes | Minimum
Debt Instrument [Line Items]
Debt service coverage ratio					200.00%
4.38% senior secured notes
Debt Instrument [Line Items]
Interest rate (as a percent)					4.38%
Maturity Date					Jun. 30, 2036
Outstanding Balance, secured debt					$ 41,061,000	$ 42,058,000
4.38% senior secured notes | Minimum
Debt Instrument [Line Items]
Debt service coverage ratio					110.00%

Debt - Annual Principal Payment

Debt - Annual Principal Payment Amounts (Details) - Secured notes - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
2019 (three months)	$ 2,834
2020	10,313
2021	108,013
2022	72,440
2023	2,714
Thereafter	30,036
Total	$ 226,350	$ 231,879

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Interest Expense
Debt interest expense	$ 4.3	$ 6.9	$ 13.4	$ 19.6
Interest payable	0.9		0.9		$ 0.2
Interest expense
Interest Expense
Amortization of deferred loan costs and discount on secured notes	$ 0.8	$ 1.1	$ 2.3	$ 3

Interest Rate Swap Agreements -

Interest Rate Swap Agreements - Fair Value of Interest Rate Swap Agreements (Details)	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019GBP (£)	Dec. 31, 2018USD ($)
Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (4,765,000)		$ 4,188,000
Agreement effective date April 13, 2015
Interest Rate Swap Agreements
Notional value	$ 25,000,000
Fixed Rate	1.29%	1.29%
Index	1-month USD LIBOR
Agreement effective date April 13, 2015 | Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)			102,000
Agreement effective date October 1, 2015
Interest Rate Swap Agreements
Notional value	$ 50,000,000
Fixed Rate	1.74%	1.74%
Index	1-month USD LIBOR
Agreement effective date October 1, 2015 | Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (460,000)		1,259,000
Agreement entered into March 23, 2016 effective date December 24, 2018
Interest Rate Swap Agreements
Notional value	$ 50,000,000
Fixed Rate	1.67%	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)	$ (226,000)		1,117,000
Agreement entered into March 31, 2016 effective date December 24, 2018
Interest Rate Swap Agreements
Notional value	$ 20,000,000
Fixed Rate	1.56%	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)	$ (44,000)		508,000
Agreement entered into March 31, 2016 effective date April 13, 2019
Interest Rate Swap Agreements
Notional value	$ 25,000,000
Fixed Rate	1.63%	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)	$ (116,000)		569,000
Agreement entered into June 12, 2017 effective date March 02, 2018
Interest Rate Swap Agreements
Notional value	$ 50,000,000
Fixed Rate	2.10%	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)	$ (1,590,000)		1,035,000
Agreement entered into November 15, 2018 effective date November 30, 2020
Interest Rate Swap Agreements
Notional value | £		£ 38,000,000
Fixed Rate	1.49%	1.49%
Index	1-month GBP LIBOR
Agreement entered into November 15, 2018 effective date November 30, 2020 | Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (2,329,000)		$ (402,000)

Interest Rate Swap Agreements_2

Interest Rate Swap Agreements - Gain (Loss) on Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest Rate Swap Agreements
Unrealized gain (loss) on derivatives	$ (2,188)	$ 774	$ (8,963)	$ 5,208

Interest Rate Swap Agreements_3

Interest Rate Swap Agreements - Sensitivity Analysis (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Agreement effective date October 1, 2015 | Increase of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	$ 225
Agreement effective date October 1, 2015 | Decrease of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(1,202)
Agreement effective date October 1, 2015 | Increase of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	919
Agreement effective date October 1, 2015 | Decrease of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(1,935)
Agreement entered into March 23, 2016 effective date December 24, 2018 | Increase of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	288
Agreement entered into March 23, 2016 effective date December 24, 2018 | Decrease of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(768)
Agreement entered into March 23, 2016 effective date December 24, 2018 | Increase of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	805
Agreement entered into March 23, 2016 effective date December 24, 2018 | Decrease of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(1,308)
Agreement entered into March 31, 2016 effective date December 24, 2018 | Increase of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	162
Agreement entered into March 31, 2016 effective date December 24, 2018 | Decrease of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(260)
Agreement entered into March 31, 2016 effective date December 24, 2018 | Increase of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	369
Agreement entered into March 31, 2016 effective date December 24, 2018 | Decrease of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(475)
Agreement entered into March 31, 2016 effective date April 13, 2019 | Increase of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	179
Agreement entered into March 31, 2016 effective date April 13, 2019 | Decrease of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(428)
Agreement entered into March 31, 2016 effective date April 13, 2019 | Increase of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	476
Agreement entered into March 31, 2016 effective date April 13, 2019 | Decrease of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(739)
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	(517)
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	(2,880)
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	617
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	(4,110)
Agreement entered into November 15, 2018 effective date November 30, 2020 | Increase of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(1,320)
Agreement entered into November 15, 2018 effective date November 30, 2020 | Decrease of 50 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(3,741)
Agreement entered into November 15, 2018 effective date November 30, 2020 | Increase of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	(179)
Agreement entered into November 15, 2018 effective date November 30, 2020 | Decrease of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	$ (5,023)
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 Outst

Equity - Changes in Units Outstanding (Details) - shares	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Common Units
Increase (decrease) in partners' capital
Conversion of subordinated units (in units)			14,708
Preferred Units Series C
Increase (decrease) in partners' capital
Conversion of subordinated units (in units)			11,300
Limited Partners | Common Units
Increase (decrease) in partners' capital
Balance (in units)	25,327,801	20,146,458	25,327,801	20,146,458	20,146,458
Conversion of subordinated units (in units)		3,135,000	14,708	3,135,109
Unit-based compensation (in units)	10,000	4,000	10,631	3,826
Balance (in units)	25,338,000	25,006,000	25,353,140	25,266,060	25,327,801
Limited Partners | Common Units | Landmark, General Partner and affiliates
Increase (decrease) in partners' capital
Issuance of units to Fund				1,506,421
Limited Partners | Common Units | At The Market Issuance Sales Agreement
Increase (decrease) in partners' capital
Issuance of units, net (in units)				27,830
Limited Partners | Common Units | Unit Exchange Program
Increase (decrease) in partners' capital
Issuance of units, net (in units)				446,416
Limited Partners | Subordinated Units
Increase (decrease) in partners' capital
Balance (in units)		3,135,109		3,135,109	3,135,109
Conversion of subordinated units (in units)		(3,135,000)		(3,135,109)
Limited Partners | Preferred Units Series A
Increase (decrease) in partners' capital
Balance (in units)	1,593,149	1,568,402	1,593,149	1,568,402	1,568,402
Balance (in units)	1,593,000	1,593,000	1,674,156	1,593,149	1,593,149
Limited Partners | Preferred Units Series A | At The Market Issuance Sales Agreement
Increase (decrease) in partners' capital
Issuance of units, net (in units)			81,007	24,747
Limited Partners | Preferred Units Series B
Increase (decrease) in partners' capital
Balance (in units)	2,463,015	2,463,015	2,463,015	2,463,015	2,463,015
Balance (in units)	2,463,000	2,463,000	2,544,793	2,463,015	2,463,015
Limited Partners | Preferred Units Series B | At The Market Issuance Sales Agreement
Increase (decrease) in partners' capital
Issuance of units, net (in units)			81,778
Limited Partners | Preferred Units Series C
Increase (decrease) in partners' capital
Balance (in units)	2,000,000		2,000,000
Conversion of subordinated units (in units)			(11,300)
Issuance of units, net (in units)				2,000,000
Balance (in units)			1,988,700	2,000,000	2,000,000

Equity - General Information (D

Equity - General Information (Details) $ / shares in Units, $ in Thousands

May 03, 2019USD ($)

May 15, 2018$ / shares

Apr. 02, 2018USD ($)$ / sharesshares

Feb. 15, 2018

Mar. 30, 2017USD ($)

Sep. 30, 2019$ / sharesshares

Jun. 30, 2019$ / sharesshares

Mar. 31, 2019$ / shares

Dec. 31, 2018$ / shares

Sep. 30, 2018$ / sharesshares

Jun. 30, 2018shares

Mar. 31, 2018shares

Sep. 30, 2019USD ($)site$ / sharesshares

Sep. 30, 2018USD ($)siteshares

Dec. 31, 2018USD ($)site

Mar. 10, 2016shares

Partnership Equity

Number of tenant sites acquired | site

130

104

Common Units Issued to Landmark and Affiliates | $

$ 7,700

Proceeds from the issuance of Preferred Units, net | $

$ 1,811

$ 48,137

Quarterly distributions

Conversion ratio of subordinated units into common units

100.00%

Wireless Communication

Partnership Equity

Number of tenant sites acquired | site

1

49

Common Units

Partnership Equity

Conversion of subordinated units (in units)

14,708

Preferred Units Series B

Partnership Equity

Distribution date

Nov. 15, 2019

Aug. 15, 2019

May 15, 2019

Feb. 15, 2019

Nov. 15, 2018

Distribution Per Unit Paid (in dollars per share) | $ / shares

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

Preferred Units Series C

Partnership Equity

Distribution date

Nov. 15, 2019

Aug. 15, 2019

May 15, 2019

Feb. 15, 2019

Nov. 15, 2018

Distribution Per Unit Paid (in dollars per share) | $ / shares

$ 0.4375

$ 0.4510

$ 0.4614

$ 0.4571

$ 0.4382

Stated liquidation preference / redemption price (in dollars per share) | $ / shares

$ 25

$ 25

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 | $ / shares

$ 11.13

$ 11.13

Preferred units redemption date

May 20, 2025

Preferred units redemption price | $ / shares

$ 25

$ 25

Conversion of subordinated units (in units)

11,300

At The Market Issuance Sales Agreement | 2019 Series A ATM Program

Partnership Equity

Aggregate offering price | $

$ 50,000

Unit Exchange Program

Partnership Equity

Remaining common units available to be issued

4,091,908

Unit Exchange Program | 6-site acquisition | Wireless Communication

Partnership Equity

Number of tenant sites acquired | site

0

24

Common Units Issued to Landmark and Affiliates | $

$ 6,700

Limited Partners | Common Units

Partnership Equity

Issuance of units, net (in shares)

135,000

125,000

1,721,000

Conversion of subordinated units (in units)

3,135,000

14,708

3,135,109

Quarterly distributions

Minimum quarterly distribution per unit (in dollars per share) | $ / shares

$ 0.2875

Limited Partners | Preferred Units Series B

Partnership Equity

Issuance of units, net (in shares)

15,000

67,000

Limited Partners | Preferred Units Series C

Partnership Equity

Distribution date

May 15, 2018

Distribution Per Unit Paid (in dollars per share) | $ / shares

$ 0.2090

Conversion of subordinated units (in units)

(11,300)

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) | $ / shares

$ 25

$ 25

Limited Partners | Preferred Units Series C | Minimum | Distributions Accruing Before May 15, 2025

Partnership Equity

Dividend rate (as a percent)

7.00%

Limited Partners | At The Market Issuance Sales Agreement | 2019 Common Units

Partnership Equity

Aggregate offering price | $

$ 50,000

Issuance of units, net (in shares)

0

Limited Partners | At The Market Issuance Sales Agreement | 2016 Common Units

Partnership Equity

Issuance of units, net (in shares)

0

27,830

Proceeds from issuance of unit, before costs | $

$ 500

Limited Partners | At The Market Issuance Sales Agreement | 2019 Series A ATM Program

Partnership Equity

Issuance of units, net (in shares)

81,007

Proceeds from issuance of unit, before costs | $

$ 2,100

Remaining available amount to be issued | $

$ 47,900

Limited Partners | At The Market Issuance Sales Agreement | 2016 Series A ATM Program

Partnership Equity

Issuance of units, net (in shares)

0

24,747

Proceeds from issuance of unit, before costs | $

$ 600

Limited Partners | At The Market Issuance Sales Agreement | Preferred Units Series B

Partnership Equity

Aggregate offering price | $

$ 50,000

Issuance of units, net (in shares)

81,778

0

Proceeds from issuance of unit, before costs | $

$ 2,100

Remaining available amount to be issued | $

$ 32,300

Limited Partners | Unit Exchange Program | Common Units

Partnership Equity

Units authorized (in units)

5,000,000

Limited Partners | Unit Exchange Program | Common Units | 6-site acquisition | Wireless Communication

Partnership Equity

Number of common units in connection with acquisition (in shares)

446,416

Limited Partners | Public Offering | Preferred Units Series C

Partnership Equity

Issuance of units, net (in shares)

2,000,000

Unit offering price (in dollars per share) | $ / shares

$ 25

Proceeds from the issuance of Preferred Units, net | $

$ 47,500

Offering expenses paid | $

$ 2,500

Equity - Summary of Quarterly D

Equity - Summary of Quarterly Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018
Common and Subordinated Units and IDRs
Quarterly distributions
Declaration Date	Oct. 25, 2019	Jul. 19, 2019	Apr. 19, 2019	Jan. 25, 2019	Oct. 26, 2018
Distribution Date	Nov. 14, 2019	Aug. 14, 2019	May 15, 2019	Feb. 14, 2019	Nov. 14, 2018
Distribution Per Unit Paid (in dollars per share)	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675
Total Distribution Paid	$ 9,317	$ 9,312	$ 9,312	$ 9,312	$ 9,285
Preferred Units Series A
Quarterly distributions
Declaration Date	Sep. 20, 2019	Jun. 20, 2019	Mar. 21, 2019	Dec. 20, 2018	Sep. 20, 2018
Distribution Date	Oct. 15, 2019	Jul. 15, 2019	Apr. 15, 2019	Jan. 15, 2019	Oct. 15, 2018
Distribution Per Unit Paid (in dollars per share)	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000
Total Distribution Paid	$ 837	$ 828	$ 797	$ 797	$ 797
Preferred Units Series B
Quarterly distributions
Declaration Date	Oct. 22, 2019	Jul. 19, 2019	Apr. 19, 2019	Jan. 22, 2019	Oct. 22, 2018
Distribution Date	Nov. 15, 2019	Aug. 15, 2019	May 15, 2019	Feb. 15, 2019	Nov. 15, 2018
Distribution Per Unit Paid (in dollars per share)	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938
Total Distribution Paid	$ 1,257	$ 1,257	$ 1,216	$ 1,216	$ 1,216
Preferred Units Series C
Quarterly distributions
Declaration Date	Oct. 22, 2019	Jul. 19, 2019	Apr. 19, 2019	Jan. 22, 2019	Oct. 22, 2018
Distribution Date	Nov. 15, 2019	Aug. 15, 2019	May 15, 2019	Feb. 15, 2019	Nov. 15, 2018
Distribution Per Unit Paid (in dollars per share)	$ 0.4375	$ 0.4510	$ 0.4614	$ 0.4571	$ 0.4382
Total Distribution Paid	$ 870	$ 902	$ 923	$ 914	$ 876

Net Income (Loss) Per Limited_3

Net Income (Loss) Per Limited Partner Unit - Additional Information (Details)	Feb. 15, 2018item
Landmark Dividend LLC
Limited Partners Capital Account [Line Items]
Number of common units that will convert from each outstanding subordinated unit	1

Net Income (Loss) Per Limited_4

Net Income (Loss) Per Limited Partner Unit - Undistributed Net Loss Attributable to Common Unitholders (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net income (loss) attributable to partners:
Net income attributable to limited partners	$ 3,979	$ 105,139	$ 20,438	$ 117,973
Less: Distributions declared	(2,985)	(2,868)	(8,900)	(7,742)
Incentive distribution rights	(197)	(197)	(591)	(587)
Net income attributable to common unitholders	701	102,074	10,401	109,644
General Partner
Net income (loss) attributable to partners:
Incentive distribution rights	(197)	(197)	(591)	(587)
Preferred Units
Net income (loss) attributable to partners:
Less: Distributions declared	(2,985)	(2,868)	(8,900)	(7,742)
Preferred Units Series C
Net income (loss) attributable to partners:
Accretion of Series C preferred units	(96)		(546)
Common Units
Net income (loss) attributable to partners:
Less: Distributions declared	(9,317)	(9,285)	(27,941)	(27,710)
Undistributed net income (loss)	(8,616)	92,789	(17,540)	82,237
Common and Subordinated Units
Net income (loss) attributable to partners:
Undistributed net income (loss)	$ (8,616)	$ 92,789	$ (17,540)	$ 81,934

Net Income (Loss) Per Limited_5

Net Income (Loss) Per Limited Partner Unit - Net Income (Loss) per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net income (loss) attributable to partners:
Distributions declared	$ 2,985	$ 2,868	$ 8,900	$ 7,742
Net income attributable to common and subordinated unitholders	$ 701	$ 102,074	$ 10,401	$ 109,644
Weighted-average units outstanding:
Basic (in shares)	25,341	25,138	25,339	24,405
Units - diluted (in shares)	25,341	27,741	25,339	26,658
Net income per common and subordinated unit:
Basic (in dollars per share)	$ 0.03	$ 4.06	$ 0.41	$ 4.51
Diluted (in dollars per share)	$ 0.03	$ 3.71	$ 0.41	$ 4.18
Common Units
Net income (loss) attributable to partners:
Distributions declared	$ 9,317	$ 9,285	$ 27,941	$ 27,710
Undistributed net loss	(8,616)	92,789	(17,540)	82,237
Net income attributable to common and subordinated unitholders	701	102,074	10,401	109,947
Net loss attributable to subordinated units				(303)
Distributions on dilutive preferred units		868		1,736
Net income (loss) attributable to common and subordinated units - diluted	$ 701	$ 102,942	$ 10,401	$ 111,380
Weighted-average units outstanding:
Basic (in shares)	25,341	25,138	25,339	24,405
Effect of diluted subordinated units				517
Effect of dilutive preferred units		2,603		1,736
Units - diluted (in shares)	25,341	27,741	25,339	26,658
Net income per common and subordinated unit:
Basic (in dollars per share)	$ 0.03	$ 4.06	$ 0.41	$ 4.51
Diluted (in dollars per share)	$ 0.03	$ 3.71	$ 0.41	$ 4.18
Subordinated Units
Net income (loss) attributable to partners:
Undistributed net loss				$ (303)
Net income attributable to common and subordinated unitholders				(303)
Net income (loss) attributable to common and subordinated units - diluted				$ (303)
Weighted-average units outstanding:
Basic (in shares)				517
Units - diluted (in shares)				517
Net income per common and subordinated unit:
Basic (in dollars per share)				$ (0.59)
Diluted (in dollars per share)				$ (0.59)

Net Income (Loss) Per Limited_6

Net Income (Loss) Per Limited Partner Unit - Net Income (Loss) per Unit (Parenthetical) (Details) - Landmark Dividend LLC	Feb. 15, 2018item	Sep. 30, 2019shares
Limited Partners Capital Account [Line Items]
Number of common units that will convert from each outstanding subordinated unit | item	1
Common Units
Limited Partners Capital Account [Line Items]
Number of units converted | shares		3,135,109

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Carrying Amount
Investment in receivables, net
Investment in receivables, net	$ 8,741	$ 18,348
Carrying Amount | Senior secured revolving credit facility
Debt
Revolving credit facility	175,313	155,000
Carrying Amount | Secured notes
Debt
Secured Notes, net	219,535	223,685
Fair Value
Investment in receivables, net
Investment in receivables, net	8,966	18,867
Fair Value | Senior secured revolving credit facility
Debt
Revolving credit facility	175,313	155,000
Fair Value | Secured notes
Debt
Secured Notes, net	$ 224,199	$ 224,333

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Assets and Liabilities Carried at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liabilities	$ 4,765	$ 402
Recurring | Level 2 inputs
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Assets		4,590
Derivative Liabilities	$ 4,765	$ 402

Related-Party Transactions (Det

Related-Party Transactions (Details)	Jun. 06, 2018	Nov. 30, 2017	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)item$ / shares$ / property	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Jun. 13, 2017
Related Party Transaction [Line Items]
Incentive distribution rights			$ 197,000	$ 197,000	$ 197,000	$ 197,000	$ 591,000	$ 197,000
Due from Landmark and affiliates			$ 1,876,000				$ 1,876,000		$ 1,390,000
4.38% Senior Secured Notes
Related Party Transaction [Line Items]
Interest rate (as a percent)			4.38%				4.38%
Maximum | 2018 Secured Notes | Unconsolidated Joint Venture
Related Party Transaction [Line Items]
Operating revenue per tenant site | $ / property							46
Incentive Distribution Rights
Related Party Transaction [Line Items]
Incentive distribution and allocations waived amount			$ 200,000			200,000	$ 600,000
Threshold percentage per unit per quarter (in dollars per share) | $ / shares							$ 0.2875
Incentive distribution rights						0		400,000
Incentive Distribution Rights | Maximum
Related Party Transaction [Line Items]
Percentage of available cash							50.00%
Landmark, General Partner and affiliates
Related Party Transaction [Line Items]
Due from Landmark and affiliates			1,900,000				$ 1,900,000		1,400,000
Landmark, General Partner and affiliates | Capped reimbursement for certain general and administrative expenses
Related Party Transaction [Line Items]
Percentage of revenue (as a percent)							3.00%
Expiration of quarterly cap, measurement period, number of consecutive fiscal quarters (in periods) | item							4
Expiration of quarterly cap, measurement period, minimum revenue							$ 120,000,000
Reimbursement of expenses that exceeded the cap			800,000			300,000	2,900,000	2,100,000
Management fees related to unconsolidated joint venture not subject to cap			100,000				200,000
Indemnification amount related to property taxes							400,000
American Infrastructure Funds | Patent License Agreement Fees
Related Party Transaction [Line Items]
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			$ 25,000	$ 75,000	$ 75,000
Type of Cost, Good or Service [Extensible List]			us-gaap:LicenseMember			us-gaap:LicenseMember	us-gaap:LicenseMember	us-gaap:LicenseMember
General Partner | 4.38% Senior Secured Notes
Related Party Transaction [Line Items]
Management fee (as a percent)							0.50%
Interest rate (as a percent)			4.38%				4.38%
General Partner | Secured Notes Management Agreement
Related Party Transaction [Line Items]
Management fee (as a percent)	1.50%	1.50%
General Partner | Secured Notes Management Agreement | 2018 Secured Notes | Unconsolidated Joint Venture
Related Party Transaction [Line Items]
Management fee (as a percent)							1.50%
General Partner | Management fees
Related Party Transaction [Line Items]
Costs incurred			$ 100,000				$ 200,000
General Partner | Management fees | Maximum
Related Party Transaction [Line Items]
Costs incurred						$ 100,000		$ 100,000
General Partner | Management fees | Maximum | 2018 Secured Notes | Unconsolidated Joint Venture
Related Party Transaction [Line Items]
Costs incurred			$ 100,000				200,000
Landmark Dividend LLC | Management fees
Related Party Transaction [Line Items]
Costs incurred							0	$ 0
Penteon Corporation
Related Party Transaction [Line Items]
Leasing costs incurred for deployment of LPWAN							$ 0		$ 0
Penteon Corporation | Sponsor
Related Party Transaction [Line Items]
Warrant to purchase maximum number of preferred stock, in percentage										25.00%

Related-Party Transactions - Su

Related-Party Transactions - Summary of Completed Right of First Offer ("ROFO") Acquisitions (Details) $ in Millions	Jan. 18, 2018USD ($)siteshares	Sep. 30, 2019USD ($)site	Dec. 31, 2018USD ($)site
Related Party Transaction [Line Items]
Total No. of Tenant Sites | site		130	104
Total Consideration | $		$ 17.2	$ 75.8
Landmark Dividend Growth Fund H LLC | Acquisition from related party | 127-site fund H acquisition
Related Party Transaction [Line Items]
Total No. of Tenant Sites | site	127
Total Consideration | $	$ 59.9
Total Common Units Issued | shares	1,506,421

Segment Information - General I

Segment Information - General Information (Details) - segment	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting [Abstract]
Number of reportable segments	3	3	3	3

Segment Information - Statement

Segment Information - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue
Rental revenue	$ 14,402	$ 17,560	$ 43,820	$ 50,051
Expenses
Property operating	435	360	1,505	875
General and administrative	1,288	735	4,269	3,523
Acquisition-related	119	88	614	469
Amortization	3,395	4,293	10,368	12,548
Impairments	442	877	646	980
Total expenses	5,679	6,353	17,402	18,395
Total other income and expenses	(4,509)	94,400	(2,322)	87,000
Income before income tax expense	4,214	105,607	24,096	118,656
Income tax expense	228	460	3,635	663
Net income	3,986	105,147	20,461	117,993
Operating Segments | Wireless Communication
Revenue
Rental revenue	7,185	10,511	21,827	30,518
Expenses
Property operating	30	141	185	214
Amortization	2,282	3,155	6,958	9,456
Impairments	227	785	227	785
Total expenses	2,539	4,081	7,370	10,455
Total other income and expenses	361	100,187	11,323	105,286
Income before income tax expense	5,007	106,617	25,780	125,349
Net income	5,007	106,617	25,780	125,349
Operating Segments | Outdoor Advertising
Revenue
Rental revenue	5,221	4,989	15,520	13,537
Expenses
Property operating	374	185	944	510
Amortization	993	962	3,001	2,589
Impairments	215	92	419	195
Total expenses	1,582	1,239	4,364	3,294
Total other income and expenses	338	61	458	190
Income before income tax expense	3,977	3,811	11,614	10,433
Net income	3,977	3,811	11,614	10,433
Operating Segments | Renewable Power Generation
Revenue
Rental revenue	1,996	2,060	6,473	5,996
Expenses
Property operating	31	34	376	151
Amortization	120	176	409	503
Total expenses	151	210	785	654
Total other income and expenses	20	206	7,039	609
Income before income tax expense	1,865	2,056	12,727	5,951
Net income	1,865	2,056	12,727	5,951
Corporate
Expenses
General and administrative	1,288	735	4,269	3,523
Acquisition-related	119	88	614	469
Total expenses	1,407	823	4,883	3,992
Total other income and expenses	(5,228)	(6,054)	(21,142)	(19,085)
Income before income tax expense	(6,635)	(6,877)	(26,025)	(23,077)
Income tax expense	228	460	3,635	663
Net income	$ (6,863)	$ (7,337)	$ (29,660)	$ (23,740)

Segment Information - Total Ass

Segment Information - Total Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Segment Reporting Asset Reconciling Item [Line Items]
Assets	$ 804,006	$ 786,613
Corporate
Segment Reporting Asset Reconciling Item [Line Items]
Assets	20,964	24,695
Wireless Communication | Operating Segments
Segment Reporting Asset Reconciling Item [Line Items]
Assets	422,406	433,254
Outdoor Advertising | Operating Segments
Segment Reporting Asset Reconciling Item [Line Items]
Assets	260,515	216,326
Renewable Power Generation | Operating Segments
Segment Reporting Asset Reconciling Item [Line Items]
Assets	$ 100,121	$ 112,338

Segment Information - Schedule

Segment Information - Schedule of Rental Revenues by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Asset Reconciling Item [Line Items]
Rental revenue	$ 14,402	$ 17,560	$ 43,820	$ 50,051
United States
Segment Reporting Asset Reconciling Item [Line Items]
Rental revenue	12,631	16,450	38,862	47,346
Europe
Segment Reporting Asset Reconciling Item [Line Items]
Rental revenue	1,471	851	3,987	2,045
Australia
Segment Reporting Asset Reconciling Item [Line Items]
Rental revenue	283	244	926	616
Canada
Segment Reporting Asset Reconciling Item [Line Items]
Rental revenue	$ 17	$ 15	$ 45	$ 44

Segment Information - Schedul_2

Segment Information - Schedule of Total Assets by Geographic Location (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Segment Reporting Asset Reconciling Item [Line Items]
Assets	$ 804,006	$ 786,613
United States
Segment Reporting Asset Reconciling Item [Line Items]
Assets	698,490	720,331
Europe
Segment Reporting Asset Reconciling Item [Line Items]
Assets	92,047	53,850
Australia
Segment Reporting Asset Reconciling Item [Line Items]
Assets	12,634	11,830
Canada
Segment Reporting Asset Reconciling Item [Line Items]
Assets	$ 835	$ 602

Commitments and Contingencies -

Commitments and Contingencies - Real Property Interest Subject to Subordination (Details) $ in Millions	Sep. 30, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
Real property interest subject to subordination	$ 65.8

Tenant Concentration (Details)

Tenant Concentration (Details) - Concentration - Tenant Revenue	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Clear Channel
Concentration Risk [Line Items]
Percentage of revenue	13.40%	10.90%	13.40%	10.90%
T-Mobile
Concentration Risk [Line Items]
Percentage of revenue	8.30%	10.00%	8.30%	10.30%
AT&T Mobility
Concentration Risk [Line Items]
Percentage of revenue	7.00%	9.70%	7.20%	10.00%
Sprint
Concentration Risk [Line Items]
Percentage of revenue	5.90%	8.20%	5.90%	8.60%

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended							9 Months Ended		12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Noncash activities
Capital contribution to fund general and administrative expense reimbursement								$ 930	$ 289
Issuance of common units for assets acquired from Fund H										$ 7,700
Distributions payable to preferred unitholders								1,769	1,718
Deferred loan costs included in accounts payable and accrued liabilities									50
Conversion of Series C preferred units	$ 278	$ 5
Initial recognition of lease liabilities related to right of use assets								10,220
Investment in unconsolidated joint venture									(65,611)
Total assets contributed to the unconsolidated joint venture									157,045
Total liabilities contributed to the unconsolidated joint venture									(125,888)
Declared distributions receivable from the unconsolidated joint venture								(500)
Purchase price for acquisitions and construction activities included in accounts payable								1,099	1,452
Deemed contribution by the General Partner	197	$ 197	$ 197		$ 197			591	197
Deemed distribution by the General Partner								(591)	(197)
Cash flows related to interest paid
Cash paid for interest								10,591	16,135
Capitalized interest								1,349	479
Income taxes paid								2,139	74
Preferred Units Series C
Noncash activities
Accretion of Series C preferred units	$ 96							546
Conversion of Series C preferred units								$ 283
Unit Exchange Acquisitions
Noncash activities
Issuance of common units for assets acquired from Fund H				$ 900	$ 1,800	$ 1,800	$ 3,200
Unit Exchange Program acquisitions									6,750
Landmark, General Partner and affiliates
Noncash activities
Purchase price for acquisitions included in due to Landmark and affiliates									436
Landmark Dividend Growth Fund H LLC
Noncash activities
Issuance of common units for assets acquired from Fund H									$ 27,342

Subsequent Event - General Info

Subsequent Event - General Information (Details) - USD ($) $ in Millions	Oct. 09, 2019	Sep. 30, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Business combination, Consideration transferred		$ 17.2	$ 75.8
Subsequent Event
Subsequent Event [Line Items]
Business combination, Consideration transferred	$ 24.3