Landmark Infrastructure Partners (LMRK) 10-K 27 Feb 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Feb. 24, 2020	Jun. 28, 2019
Document Information [Line Items]
Entity Registrant Name	Landmark Infrastructure Partners LP
Entity Central Index Key	0001615346
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Limited Partners Units		25,470,232
Entity Public Float			$ 427
Entity Shell Company	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
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 Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE None
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	Dec. 31, 2019	Dec. 31, 2018
Assets
Land	$ 141,851	$ 128,302
Real property interests	543,328	517,423
Construction in progress	68,907	29,556
Total land and real property interests	754,086	675,281
Accumulated amortization of real property interests	(50,015)	(39,069)
Land and net real property interests	704,071	636,212
Investments in receivables, net	8,822	18,348
Investment in unconsolidated joint venture	62,059	65,670
Cash and cash equivalents	7,446	4,108
Restricted cash	5,619	3,672
Rent receivables, net	5,105	4,292
Due from Landmark and affiliates	1,132	1,390
Deferred loan costs, net	4,557	5,552
Deferred rent receivable	6,176	5,251
Derivative assets		4,590
Other intangible assets, net	23,966	20,839
Assets held for sale (AHFS)	421	7,846
Right-of-use asset, net	11,358
Other assets	14,873	8,843
Total assets	855,605	786,613
Liabilities and equity
Revolving credit facility	232,907	155,000
Secured notes, net	217,098	223,685
Accounts payable and accrued liabilities	8,598	7,435
Other intangible liabilities, net	7,606	9,291
Liabilities associated with AHFS		397
Operating lease liability	10,268
Finance lease liability	908
Prepaid rent	5,747	5,418
Derivative liabilities	3,149	402
Total liabilities	486,281	401,628
Commitments and contingencies (Note 17)
Equity
Accumulated other comprehensive income (loss)	17	(2,806)
Total partner's equity	321,457	337,476
Noncontrolling interests	201	201
Total equity	321,658	337,677
Total liabilities, mezzanine equity and equity	855,605	786,613
Limited Partners | Preferred Units Series C
Mezzanine equity
Limited partners	47,666	47,308
Limited Partners | Preferred Units Series A
Equity
Limited partners	40,210	37,207
Total equity	40,210	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	382,581	411,158
Total equity	382,581	411,158
General Partner
Equity
General Partner	(162,277)	(167,019)
Total equity	$ (162,277)	$ (167,019)

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - Limited Partners - shares	Dec. 31, 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)	1,722,041,000	1,593,149,000
Preferred units outstanding (in shares)	1,722,041,000	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	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue
Rental revenue	$ 59,340	$ 64,765	$ 52,625
Expenses
Property operating	1,983	1,147	394
General and administrative	5,567	4,731	5,286
Acquisition-related	1,163	3,287	1,287
Amortization	14,235	16,152	13,537
Impairments	2,288	1,559	848
Total expenses	25,236	26,876	21,352
Other income and expenses
Interest and other income	832	1,642	1,587
Interest expense	(18,170)	(24,273)	(18,399)
Loss on early extinguishment of debt		(157)
Unrealized gain (loss) on derivatives	(7,327)	1,010	1,675
Equity income from unconsolidated joint venture	398	59
Gain (loss) on sale of real property interests	17,985	99,884	(5)
Foreign currency transaction loss	(2,433)	(6)
Total other income and expenses	(8,715)	78,159	(15,142)
Income before income tax expense (benefit)	25,389	116,048	16,131
Income tax expense (benefit)	3,783	227	(3,145)
Net income	21,606	115,821	19,276
Less: Net income attributable to noncontrolling interest	31	27	19
Net income attributable to limited partners	21,575	115,794	19,257
Less: Distributions declared to preferred unitholders	(11,883)	(10,630)	(6,673)
Less: General partner's incentive distribution rights	(788)	(784)	(488)
Less: Accretion of Series C preferred units	(641)
Net income attributable to common and subordinated unitholders	$ 8,263	$ 104,380	$ 12,096
Net income (loss) per common and subordinated unit
Common units – basic	$ 0.33	$ 4.25	$ 0.54
Common units – diluted	$ 0.33	3.97	0.53
Subordinated units – basic and diluted		$ (0.78)	$ 0.50
Weighted average common and subordinated units outstanding
Common units – basic	25,343	24,626	19,701
Common units – diluted	25,343	26,967	22,836
Subordinated units – basic and diluted		387	3,135
Preferred Units Series C
Other income and expenses
Less: Accretion of Series C preferred units	$ (641)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 21,606	$ 115,821	$ 19,276
Other comprehensive income (loss):
Foreign currency translation adjustment	2,823	(3,774)	1,477
Other comprehensive income (loss)	2,823	(3,774)	1,477
Comprehensive income	24,429	112,047	20,753
Less: Comprehensive income attributable to noncontrolling interest	31	27	19
Comprehensive income attributable to limited partners	$ 24,398	$ 112,020	$ 20,734

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY AND MEZZANINE EQUITY - USD ($) $ in Thousands	Total	Common Units	Preferred Units Series C	General Partner	Limited PartnersCommon Units	Limited PartnersSubordinated Units	Limited PartnersPreferred Units Series A	Limited PartnersPreferred Units Series B	Limited PartnersPreferred Units Series C	Accumulated Other Comprehensive Income	Noncontrolling Interest
Balance at Dec. 31, 2016	$ 244,330			$ (135,630)	$ 294,296	$ 22,524	$ 19,393	$ 44,256		$ (509)
Balance (in units) at Dec. 31, 2016					19,450,555	3,135,109	864,000	1,840,000
Increase (decrease) in partners' capital
Net investment of Drop-down Assets	(18,629)			(18,629)
Foreign currency translation adjustment	1,477									1,477
Issuance of Preferred Units, net	31,891						$ 17,211	$ 14,680
Issuance of Units, net (in units)					688,000		704,000	623,000
Issuance of Common Units, net	11,417				$ 11,417
Issuance of non-controlling interests, net	201										$ 201
Distributions	(39,226)			(264)	(27,834)	$ (4,436)	$ (2,434)	$ (4,239)			(19)
Capital contribution to fund general and administrative expense reimbursement	3,516			3,516
Unit-based compensation	105				$ 105
Unit-based compensation (in units)					6,798
Net income (loss)	19,276			488	$ 10,543	1,553	2,434	4,239			19
Balance at Dec. 31, 2017	254,358			(150,519)	$ 288,527	$ 19,641	$ 36,604	$ 58,936		968	201
Balance (in units) at Dec. 31, 2017					20,146,458	3,135,109	1,568,000	2,463,015
Increase (decrease) in partners' capital
Net investment of Drop-down Assets	(20,394)			(20,394)
Foreign currency translation adjustment	(3,774)									(3,774)
Issuance of Preferred Units, net	603						$ 603
Issuance of Units, net (in units)					2,043,000		25,000
Issuance of Common Units, net	35,361				$ 35,361
Conversion of subordinated units					$ 18,186	$ (18,186)
Conversion of subordinated units (in units)					3,135,109	(3,135,109)
Distributions	(45,951)			(1,086)	$ (35,669)	$ (1,152)	$ (3,166)	$ (4,851)			(27)
Capital contributions from Sponsor	3,802			3,802
Other deemed contributions	394			394
Unit-based compensation	70				$ 70
Unit-based compensation (in units)					3,826
Net income (loss)	113,208			784	$ 104,683	$ (303)	3,166	4,851			27
Balance at Dec. 31, 2018	337,677			(167,019)	$ 411,158		$ 37,207	$ 58,936		(2,806)	201
Balance (in units) at Dec. 31, 2018					25,327,801		1,593,000	2,463,015	2,000,000
Increase (Decrease) in temporary equity
Temporary equity, Issuance of Preferred Units, net									$ 47,308
Temporary equity, Distributions									(2,613)
Temporary equity, Net income (loss)									2,613
Temporary equity, Balance at Dec. 31, 2018									$ 47,308
Increase (decrease) in partners' capital
Foreign currency translation adjustment	2,823									2,823
Issuance of Preferred Units, net	4,993						$ 3,003	$ 1,990
Issuance of Units, net (in units)							129,000	82,000
Conversion of subordinated units (in units)		14,708	11,300		14,708				(11,300)
Conversion of Preferred Units, net	283		$ 283		$ 283
Conversion of Preferred Units, net (in units)					15,000
Distributions	(46,349)			(788)	$ (37,253)		$ (3,312)	$ (4,965)			(31)
Capital contributions from Sponsor	3,954			3,954
Other deemed contributions	788			788
Unit-based compensation	130				$ 130
Unit-based compensation (in units)					10,631
Net income (loss)	17,359			788	$ 8,263		3,312	4,965			31
Balance at Dec. 31, 2019	$ 321,658			$ (162,277)	$ 382,581		$ 40,210	$ 60,926		$ 17	$ 201
Balance (in units) at Dec. 31, 2019					25,353,140		1,722,000	2,544,793	1,988,700
Increase (Decrease) in temporary equity
Temporary equity, Conversion of Preferred Units									$ (283)
Temporary equity, Distributions									(3,606)
Temporary equity, Net income (loss)									4,247
Temporary equity, Balance at Dec. 31, 2019									$ 47,666

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities
Net income	$ 21,606	$ 115,821	$ 19,276
Adjustments to reconcile net income to net cash provided by operating activities:
Unit-based compensation	130	70	105
Unrealized (gain) loss on derivatives	7,327	(1,010)	(1,675)
Loss on early extinguishment of debt		157
Amortization expense	14,235	16,152	13,537
Amortization of above- and below- market lease, net	(890)	(1,226)	(1,226)
Amortization of deferred loan costs	2,725	3,435	2,203
Amortization of discount on secured notes	372	374	34
Receivables interest accretion	(9)	(3)	(7)
Impairments	2,288	1,559	848
(Gain) loss on sale of real property interests	(17,985)	(99,884)	5
Allowance for doubtful accounts	126	60	215
Equity income from unconsolidated joint venture	(398)	(59)
Return on investment in unconsolidated joint venture	3,383
Foreign currency transaction loss	2,433	6
Changes in operating assets and liabilities:
Rent receivables, net	(287)	(238)	(1,980)
Accounts payable and accrued liabilities	2,841	(1,009)	(879)
Deferred rent receivables	600	235	(358)
Prepaid rent	318	853	590
Due from Landmark and affiliates	(165)	186	217
Other assets	(6,987)	(4,223)	(2,432)
Net cash provided by operating activities	31,663	31,256	28,473
Investing activities
Acquisition of land	(12,790)	(15,810)	(24,778)
Acquisition of real property interests and development activities	(87,063)	(86,817)	(112,315)
Proceeds from sales of real property interests	46,383	63,986	174
Acquisition of receivables			(4,389)
Repayments of receivables	564	1,108	1,180
Net cash used in investing activities	(52,906)	(37,533)	(140,128)
Financing activities
Proceeds from the issuance of Common Units, net		437	4,109
Proceeds from the issuance of Preferred Units, net	4,993	47,911	31,891
Proceeds from the issuance of non-controlling interests, net			201
Proceeds from revolving credit facility	151,931	120,000	133,500
Proceeds from the issuance of secured notes		169,128	78,155
Principal payments on revolving credit facility	(76,500)	(269,000)	(54,000)
Principal payments on secured notes	(8,363)	(6,408)	(1,747)
Payments on finance leases	(7)
Deferred loan costs	(320)	(10,128)	(4,338)
Capital contribution to fund general and administrative expense reimbursement	3,822	2,560	3,569
Distributions to non-controlling interests	(31)	(27)	(19)
Consideration received paid to General Partner associated with Drop-down Acquisitions		(20,394)	(18,629)
Net cash provided by (used in) financing activities	26,460	(13,652)	133,981
Effect of changes in foreign currency exchange rates on cash, cash equivalents and restricted cash	68	(151)	(28)
Net increase (decrease) in cash, cash equivalents and restricted cash	5,285	(20,080)	22,298
Cash, cash equivalents and restricted cash at beginning of the period	7,780	27,860	5,562
Cash, cash equivalents and restricted cash at end of the period	13,065	7,780	27,860
Limited Partners | Preferred Units
Financing activities
Distributions to limited partners	(11,812)	(10,218)	(6,177)
Limited Partners | Common and Subordinated Units
Financing activities
Distributions to limited partners	$ (37,253)	$ (37,513)	$ (32,534)

Organization

Organization	12 Months Ended
	Dec. 31, 2019
Limited Liability Company Or Limited Partnership Business Organization And Operations [Abstract]
Organization	1. Organization 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. In addition, the Partnership owns certain interests in receivables associated with similar assets. 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 December 31, 2019, our 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 the incentive distribution rights (“IDRs”).

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 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 During the years ended December 31, 2018 and 2017, the Partnership completed one and four drop-down acquisitions of 127 and 155 tenant sites and related real property interests, respectively, and zero and two investment in receivables, respectively, from the Sponsor and affiliates in exchange for total consideration of $59.9 million and $118.3 million, respectively (the “Drop-down Acquisitions” or “Drop-down Assets”). There were no Drop-down Acquisitions during the year ended December 31, 2019. In accordance with the adoption of ASU No. 2017-01, drop-down acquisitions no longer meet the definition of a business and do not require to be retroactively adjusted. As such, drop-down acquisitions from the Sponsor and affiliates subsequent to March 31, 2017 are accounted for prospectively as transfers of net assets 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 is allocated to the General Partner. 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 consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany transactions and account balances have been eliminated. Management believes that the assumptions and estimates used in the preparation of the underlying consolidated financial statements are reasonable. However, the consolidated financial statements herein do not necessarily reflect what the Partnership’s financial position, results of operations, comprehensive income or cash flows would have been if the Partnership had been a stand-alone entity during the periods presented. As a result, historical financial information is not necessarily indicative of the Partnership’s future results of operations, comprehensive income, financial position or cash flows. All references to tenant sites are unaudited. 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. Purchase Accounting for Acquisitions The Partnership applies the business combination or asset acquisition method to all acquired investments of real property interests for transactions that meet the definition of a business combination or asset acquisition based on the revised framework for determining whether an integrated set of assets meets the definition of a business. The purchase consideration for the real property interests is allocated to the acquired tangible assets, such as land, and the identified intangible assets and liabilities, consisting of the value of perpetual and limited life easements, above-market and below-market leases and in-place leases, based in each case on their fair values. The fair value of the assets acquired and liabilities assumed is typically determined by using the discounted cash flow valuation method using discount rates ranging between 6% and 20%. When determining the fair value of intangible assets acquired, the Partnership estimates the applicable discount rate and the timing and amount of future cash flows. For acquisitions of a business, the determination of the final purchase price allocation and the acquisition-date fair value of identifiable assets acquired and liabilities assumed may extend over more than one period, but no later than 12 months from the acquisition date and result in adjustments to the preliminary estimates recognized in the prior period financial statements. Transaction costs related to the acquisition of a business, including investments in real property interests, are expensed as incurred. Transaction costs related to asset acquisitions are capitalized. Factors considered in estimating the fair value of tangible and intangible assets acquired include information obtained about each asset as a result of Landmark’s pre-acquisition due diligence and its marketing and leasing activities. In order to calculate the estimated in-place lease value, we employed the income approach in accordance with ASC 805 by multiplying the anticipated market absorption period by the market rent at the time of acquisition for each in-place lease agreement. Based on our experience in the industry, we have determined a range of lease execution timelines to be between one and twelve months. For the in-place lease valuation, we consider a lease-up period of four to eight months to be representative of the market. We estimated the fair value of real property interests using the income approach. The discount rates used ranged from 6% to 20%. The value of tenant relationships has not been separated from in-place tenant lease value for the real estate acquired as such value and its consequence to amortization expense is materially consistent with the in-place tenant lease value for these particular acquisitions. Should future acquisitions of real property interests result in allocating material amounts to the value of tenant relationships, an amount would be separately allocated and amortized over the estimated life of the relationship. The value of in-place leases and customer relationship is amortized to expense over the estimated period the tenant is expected to be leasing the site under the existing terms which typically range from 2 to 20 years. If a tenant lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be impaired. The discount rate associated with each asset varies based on the location of an asset (including demographics and zoning restrictions), and other asset specific characteristics. Market rent for each asset is determined based on location of each asset, asset type, zoning restrictions, ground space necessary for the tenant’s equipment, remaining site capacity, visibility (specifically for billboards), and nearby sites. In allocating the purchase consideration of the identified intangible assets and liabilities of an acquired asset, above-market, below-market and in-place lease values are calculated based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases measured over the estimated period the tenant is expected to be leasing the site under the above or below-market terms. The capitalized above-market and below-market lease values are amortized as a decrease or increase, respectively, to rental income over the estimated period the tenant is expected to be leasing the site. All tenant leases obtained by the Partnership through its acquisition of real property interests are generally cancellable, upon 30 to 180 days’ notice by the tenants, with no significant penalty. With respect to below-market leases, consideration is given to any below-market renewal periods. However, for wireless communication assets, we estimated the above/below-market lease value over an analysis period of the earlier of the lease expiration or 10 years based on estimated useful life of the underlying equipment and assets. For outdoor advertising assets, we estimated the above- or below-market lease value over an analysis period of the earlier of the lease expiration or 20 years, based on a longer estimated useful life of 20 years for billboards. Real Property Interests and Amortization Real property interests consist primarily of land, easements and lease assignments underlying wireless communication, outdoor advertising and renewable power generation infrastructure. The real property interests are typically held as ownership of land or easements to use land, or roof tops, both of which allow us to use the asset for a specific purpose. Real property interests, excluding land, are intangibles that are recorded at cost. Amortization is computed using the straight-line method over the estimated useful lives of the real property interests, which is estimated as the shorter of the revenue generating period of the asset or the term of the real estate rights which range from 12 to 99 years. Real property interests with a perpetual term are not amortized but evaluated periodically for impairment. The Partnership assesses whether there has been an impairment in the value of long-lived assets whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount to the future estimated net cash flows, undiscounted and without interest, expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets based upon what a market participant would be willing to pay for the real estate interest. The estimated fair value of the asset group identified for step two testing is based on either Level 3 inputs utilizing the income approach with a market discount rate and estimated cash flows, or Level 2 inputs based upon the sales comparison approach to a similar asset. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell utilizing the Level 3 and Level 2 inputs discussed below. Concurrent with the Partnership’s adoption of ASU No. 2016-02 on January 1, 2019, the Partnership has elected to recognize expense associated with short-term leases (those with a non-cancellable lease term of 12 months or less) under which the Partnership is the lessee on a straight-line basis and not recognize those leases on its consolidated balance sheets. For leases other than short-term operating and finance leases under which the Partnership is the lessee, such as ground leases, the Partnership recognizes a right-of-use asset and related lease liability on its consolidated balance sheet at inception of the lease based on the present value of the remaining minimum rental payments using each respective lease term and a corresponding incremental borrowing rate. Operating lease assets are included in right of use, net and finance lease assets are included in real property interests in the consolidated balance sheets. Development Operations The Partnership capitalizes direct construction and development costs, including pre-development costs, interest, and other costs directly related and essential to the development or construction of an asset. The Partnership capitalizes construction and development costs while substantive activities are ongoing to prepare an asset for its intended use. Fluctuations in our development, pre-construction, and construction activities could result in significant changes to expenses and net income. Costs incurred after a project is substantially complete and ready for its intended use are expensed as incurred. Should development, pre-construction, or construction activity cease, interest and certain other costs would no longer be eligible for capitalization and would be expensed as incurred. Expenditures for repairs and maintenance are expensed as incurred. The Partnership computes depreciation on assets placed in service and improvements using the straight-line method over the assets’ estimated useful lives. Development projects and other similar contracts are assessed to determine whether it continues to meet our investment return standards. Assessments are made separately for each project on a quarterly basis and are affected by the following factors relative to the market in which the asset is located, among others: estimated development and construction costs and projected profitability. When a decision is made to cease construction on certain projects due to market conditions and/or fluctuations in our development strategy, we write off the related capitalized costs, including pre-construction costs. During the year ended December 31, 2019, the Partnership ceased construction on a certain development project and recognized impairment charges of $1.6 million including a write off of $0.1 million in capitalized interest. Fair Value of Financial Instruments The standard establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable input be used when available. Observable inputs are inputs that the market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the Partnership. Unobservable inputs are inputs that reflect the Partnership’s assumptions about what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is measured in three levels based on the reliability of inputs: Level 1 – unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2 – 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; and, Level 3 – prices or valuations derived from other valuation methodologies where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable, including pricing models, discounted cash flow models and similar techniques. Cash and Cash Equivalents All highly liquid investments with a maturity of three months or less when purchased are considered to be cash and cash equivalents. The Partnership monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Partnership has experienced no loss or lack of access to cash in the operating accounts. Restricted Cash Restricted cash primarily consists of amounts pledged as collateral to secure obligations. As of December 31, 2019 and 2018, the amount of restricted cash was $5.6 million and $3.7 million. See Note 9, Debt Accounting for Derivative Financial Instruments and Hedging Activities The Partnership utilizes interest rate swap contracts to manage interest costs and risks associated with changing interest rates. These derivative financial instruments are carried at fair value on the consolidated balance sheets, with the change in such fair value being recorded through earnings as an unrealized gain or loss in the consolidated statements of operations. Investments in Receivables, Net The Partnership acquired streams of future cash flows associated with real property interests and certain lease arrangements that meet the definition of a financial asset within the wireless communication, outdoor advertising and renewable power generation industries. For certain investments in receivables, the Partnership has no significant rights or obligations associated with the cash flows other than in certain arrangements, to pass a portion of the cash flows received to the owner of the respective lease. 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. Receivables are classified as held-for-investment based on management’s intent and ability to hold the receivables for the foreseeable future or to maturity. Receivables held-for-investment are carried at amortized cost and are reduced by a valuation allowance for estimated credit losses as necessary. Interest on receivables is accreted to income over the life of the receivables using the interest method. The interest method is applied on an individual receivable basis when collectability of the future payments, when due in accordance with the contractual terms of the arrangement, is reasonably assured. Receivables are transferred from held-for-investment to held-for-sale when management no longer intends to hold the receivables for the foreseeable future. Receivables held-for-sale are recorded at the lower of cost or fair value. Receivables are placed on non-accrual status when management determines that the collectability of contractual amounts is not reasonably assured. While on non-accrual status, receivables are either accounted for on a cash basis, in which income is recognized only upon receipt of cash, or on a cost-recovery basis, where cash receipts reduce the carrying value of the receivable, based on management’s expectation of future collectability. Allowances are established for receivables based upon an estimate of probable losses on an individual receivable by receivable basis if they are determined to be impaired. Receivables are impaired when it is deemed probable that the Partnership will be unable to collect all amounts when due in accordance with the contractual terms of the loan. An allowance is based upon the Partnership’s assessment of the borrower’s overall financial condition, economic resources, payment record, the prospects for support from any financially responsible guarantors and, if appropriate, the net realizable value of any collateral. These estimates consider all available evidence including the expected future cash flows discounted at the receivable’s effective interest rate, fair value of collateral, general economic conditions and trends, historical and industry loss experience and other relevant factors, as appropriate. On a regular basis, the Partnership assesses investments in receivables for impairment. Internally generated cash flow projections are used to determine if the receivables are expected to be repaid in accordance with the terms of the related agreements. If it is probable that a receivable will not be repaid in accordance with the related agreement, the receivable is deemed impaired. To measure impairment, the present value of the expected future cash flows discounted is calculated using the original effective interest rate. If the present value is less than the carrying value of the receivable, a specific impairment reserve is recorded for the difference. For the year ended December 31, 2018, the Partnership impaired 16 of its investments in receivables and recognized impairment charges totaling $0.8 million. The investments in receivables were impaired to their net realizable value. There was no impairment of investments in receivables during the years ended December 31, 2019 and 2017. Investment in Unconsolidated Joint Venture The Partnership accounts for its investment in an unconsolidated joint venture using the equity method of accounting. Under the equity method, the investment is initially recorded at fair value and subsequently adjusted for distributions and the Partnership’s proportionate share of equity in the joint venture’s income (loss). The Partnership recognizes its proportionate share of the ongoing income or loss of the unconsolidated joint venture as equity income (loss) from unconsolidated joint venture on the consolidated statements of operations. On a quarterly basis, the Partnership evaluates its investment in an unconsolidated joint venture for other-than-temporary impairments. The Partnership elected as an accounting policy to reflect unconsolidated joint venture distributions in the consolidated statements of cash flows using the nature of the distribution approach. Accordingly, the net proceeds were classified as return on investment in unconsolidated joint venture within the operating activities section of the consolidated statements of cash flows for the year ended December 31, 2019. Deferred Loan Costs Costs incurred associated with the revolving credit facility are capitalized as deferred loan costs and are included in deferred loan costs, net in the consolidated balance sheets in accordance with ASU 2015-15, Interest – Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. Costs incurred in obtaining the secured debt facilities are deducted from the carrying amount of the debt liabilities and deferred loan costs are amortized to interest expense over the life of the related loan. When facilities are amended and restated that result in an of extinguishment of debt, any unamortized deferred loan costs, as well as charges incurred for the termination, are recorded to interest expense in the period of the amendment and restatement. Revenue Recognition The Partnership recognizes rental income under operating leases, including rental abatements, lease incentives and contractual fixed increases, if any, from tenants under lease arrangements with minimum fixed and determinable increases on a straight-line basis over the non-cancellable term of the related leases when collectability is reasonably assured. The excess of rents recognized over amounts contractually due pursuant to the underlying leases are recorded as deferred rent assets. The excess of rent payments collected over amounts recognized contractually due pursuant to the underlying lease are recorded as prepaid rents. For the years ended December 31, 2019, 2018, and 2017, leases obtained by the Partnership through its acquisition and ownership of real property interests in the wireless communication industry and the outdoor advertising industry were generally cancelable upon 30 - 180 days’ notice by the tenants with no significant penalty. The Partnership evaluates whether the lease arrangements economically compel the tenant to not cancel the lease in determining the term of the lease by considering various factors such as cancellation rights, availability of alternative sites, and historical cancellation rates. For cancellable leases where the tenant is not economically compelled to continue the lease, the term of the lease is considered to be the non-cancellable period with rental abatements and contractual fixed rate increases recorded in the period the amounts become due and payable. Leases obtained through development projects, are generally non‑cancellable for the initial term. • Wireless Communication – As a result of various factors, including the cancellation rights, ability to find alternative sites, credit risk, and historical cancellation and lease amendment rates, the lease term is generally considered to be the non-cancellable term of the lease of 30 to 180 days. For these leases, rental abatements and contractual fixed increases are recorded in the period the amounts become due and payable. • Outdoor Advertising and Renewable Power Generation – The lease term is generally considered to be the non-cancellable term of the remaining portion of the existing term of the lease. The capitalized above-market and below-market lease values are amortized as a decrease or increase, respectively, to rental income over the estimated period the tenant is expected to be leasing the site. Certain leases provide for the greater of a minimum rent or a percentage of the revenue generated by the tenant (“Contingent Rent”). Contingent rent is recognized when measurable and all possible contingencies have been eliminated. During the years ended December 31, 2019, 2018, and 2017, the Partnership recognized $1.6 million, $1.2 million and $1.0 million of Contingent Rent, respectively. Rents Receivable, net Rents receivables consists of tenant receivables arising in the normal course of business. Tenant receivables are uncollateralized customer obligations requiring payment within various time frames not to exceed one year from the invoice date. If the Partnership determines that collectability of lease payments is not probable, the rent receivable balance is written off and recognized as a decrease in revenue in that period and future revenue recognition is limited to amounts contractually owed and paid. Income Taxes The Partnership is generally not subject to federal, state or local income taxes, except for our subsidiary Landmark Infrastructure Asset OpCo LLC (“Asset OpCo”) and our foreign subsidiaries. Asset OpCo conducts certain activities that may not generate qualifying income and will be treated as a corporation for U.S. federal income tax purposes. Each limited partner is responsible for the tax liability, if any, related to its proportionate share of the Partnerships’ taxable income or loss. Asset OpCo and certain consolidated foreign subsidiaries of the Partnership conduct certain activities in international locations that generate taxable income and will be treated as taxable entities. Additionally, our consolidated REIT subsidiary, Landmark Infrastructure Inc., a Delaware corporation, files as a corporation for U.S. federal income tax purposes. The REIT Subsidiary has elected to be treated as a REIT and we believe that it has operated in a manner that has allowed the REIT Subsidiary to qualify as a REIT for federal income tax purposes, and the REIT Subsidiary intends to continue operating in such manner. If the REIT Subsidiary fails to qualify as a REIT in any taxable year, and is unable to avail itself of certain savings provisions, all of its taxable income would be subject to federal income tax at regular corporate rates. The Partnership may also be subject to various non-income taxes, filing fees, and franchise taxes in various states that are reflected in operating expenses. The Partnership follows the requirements of ASC Topic 740, Income Taxes Foreign Currency Translation Assets and liabilities denominated in foreign currencies that are translated into U.S. dollars use exchange rates in effect at the end of the period, and revenues and expenses denominated in foreign currencies that are translated into U.S. dollars use average rates of exchange in effect during the related period. Gains and losses resulting from translation adjustments are included in accumulated other comprehensive income (loss). Foreign Currency Transactions Risk Management The Partnership is subject to risks incidental to the ownership and investment in real property interests. These risks and uncertainties include the competitive environment in which the Partnership operates – local, regional, and national economic conditions, including consumer confidence, employment rates, and the availability of capital; uncertainties and fluctuations in capital and securities markets; the cyclical and competitive nature of the real estate industry; changes in tax laws and their interpretation; legal proceedings; effect of restrictive covenants in the loan agreements; and the effects of governmental regulation. In the normal course of business, the Partnership encounters economic risk, including interest rate risk, currency risk, credit risk, and market risk. Interest rate risk is the result of movements in the underlying variable component of financing rates. Credit risk is the risk of default that results from an underlying tenant/borrower’s inability or unwillingness to make contractually required payments. Market risk reflects changes in the valuation of real property interests and investments in receivables held by the Partnership. Concentration of Credit Risk The Partnership’s credit risk relates primarily to rent receivables, investments in receivables, cash and interest rate swap agreements. Cash accounts at each U.S. institution are insured by the Federal Deposit Insurance Corporation up to $250,000. The Partnership has not experienced any losses to date on invested cash. Credit risk associated with interest rate swap agreements arises from the potential failure of counterparties to perform in accordance with the terms of their contracts. The Partnership’s risk management policies define parameters of acceptable market risk and limit exposure to credit risk. Credit exposure resulting from derivative financial instruments is considered in their fair value amounts, among other factors such as the potential adverse position exposure arising from changes over time in interest rates, maturities, and other relevant factors. The Partnership does not anticipate nonperformance by any of its counterparties. The Partnership’s real property interests are primarily located throughout the United States. The ability of the tenants to honor the terms of their respective leases is dependent upon the economic, regulatory, and social factors affecting the communities in which the tenants operate. In certain instances, the Partnership’s position in the real property interest may be subordinate to a mortgage lender on the real property. Business Segments The FASB accounting guidance with regard to disclosures about segments of an enterprise and related information establishes standards for the manner in which public business enterprises report information about operating segments. The Partnership has three reportable segments, wireless communication, outdoor advertising, and renewable power generation for all periods presented. 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 expected to not have any material impact on its combined 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 will adopt the guidance in the first quarter of its fiscal 2020 utilizing the cumulative-effect adjustment to retained earnings as of the effective date. 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 follo

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
Acquisitions	3. Acquisitions Drop-down Acquisitions During the years ended December 31, 2018 and 2017, the Partnership completed one and four Drop-down Acquisitions, respectively, from our Sponsor and affiliates. There were no drop-down acquisitions during the year ended December 31, 2019. Certain real property interests and financing assets included in the Drop-down Acquisitions completed by the Partnership were part of the right of first offer assets acquired from Landmark Dividend Growth Fund-G LLC (“Fund G”) and Landmark Dividend Growth Fund-H LLC (“Fund H”) . All other Drop-down Acquisitions have been made directly from our Sponsor or from a wholly owned subsidiary of our Sponsor. The following table presents the Drop-down Acquisitions completed by the Partnership: Number of Tenant Sites Consideration (in millions) Renewable Investments Borrowings Wireless Outdoor Power in and Available Common Acquisition Date Source Communication Advertising Generation Total Receivables Cash 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 December 20, 2017 Sponsor 23 5 1 29 — $ 17.6 $ — $ 17.6 September 28, 2017 Sponsor 39 10 — 49 — 33.3 — 33.3 September 8, 2017 Sponsor (1) — — 1 1 — 1.6 — 1.6 July 28, 2017 Sponsor 30 1 1 32 2 22.0 — 22.0 June 8, 2017 Sponsor (1) 30 9 2 41 — 24.7 — 24.7 April 28, 2017 Sponsor (2) — 1 — 1 — 4.3 — 4.3 April 28, 2017 Fund G (2) — 1 — 1 — 3.8 3.5 7.3 March 31, 2017 Fund G (2) — 1 — 1 — 7.5 — 7.5 2017 Acquisitions 122 28 5 155 2 $ 114.8 $ 3.5 $ 118.3 (1) In connection with the June 8, 2017 drop-down acquisition from our Sponsor, the Partnership entered into a contractual obligation to acquire one tenant site and related real property interest. On September 8, 2017, the Partnership completed the acquisition for cash consideration of $1.6 million. (2) In connection with the August 30, 2016 Fund G drop-down acquisition, the Partnership entered into a contractual obligation to acquire two tenant sites and related real property interests. The Partnership acquired one of these tenant sites and related real property interests on March 31, 2017 for cash consideration of $7.5 million and the remaining tenant site for $3.8 million on April 28, 2017. Upon completion of the full $11.3 million acquisition, the Partnership issued 221,729 Common Units to Fund G on April 28, 2017. Additionally, in connection with the December 22, 2016 drop-down acquisition, the Partnership entered into a contractual obligation to acquire one tenant site and related real property interest. On April 28, 2017 the Partnership completed the acquisition for cash consideration of approximately $3.7 million to the property owner and $0.6 million to Landmark as additional consideration. Drop-down Acquisitions that occurred after March 31, 2017 are accounted for as transfers of net assets between entities under common control as the acquisitions do 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 have been allocated to the General Partner. Third Party Acquisitions During the years ended December 31, 2019, 2018 and 2017, 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: No. of Tenant Sites Consideration (in millions) Renewable Borrowings Wireless Outdoor Power Investments and Available Common Acquisition Description Communication Advertising Generation Total in Receivables Cash 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 Fourth Quarter International 1 13 — 14 — $ 10.5 $ — $ 10.5 Domestic 2 — — 2 — 24.3 — 24.3 Total 3 13 — 16 — $ 34.8 $ — $ 34.8 2019 Total 4 134 8 146 — $ 52.0 $ — $ 52.0 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 First Quarter International 3 4 — 7 — $ 3.6 $ — $ 3.6 UEP 1 — — 1 — — 0.1 0.1 Domestic 5 3 — 8 — 1.2 — 1.2 Total 9 7 — 16 — $ 4.8 $ 0.1 $ 4.9 Second Quarter International 2 4 — 6 1 $ 9.0 $ — $ 9.0 UEP 3 1 — 4 — — 1.0 1.0 Domestic 1 — — 1 — 0.5 — 0.5 Total 6 5 — 11 1 $ 9.5 $ 1.0 $ 10.5 Third Quarter International — 2 — 2 — $ 4.1 $ — $ 4.1 Domestic 3 — — 3 — 0.8 — 0.8 Total 3 2 — 5 — $ 4.9 $ — $ 4.9 Fourth Quarter International — 3 — 3 — $ 11.5 $ — $ 11.5 UEP 3 4 — 7 — — 2.7 2.7 Domestic 14 5 2 21 — 6.5 — 6.5 Total 17 12 2 31 — $ 18.0 $ 2.7 $ 20.7 2017 Total 35 26 2 63 1 $ 37.2 $ 3.8 $ 41.0

Real Property Interests

Real Property Interests	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Real Property Interests	4. Real Property Interests The following summarizes the Partnership’s real property interests (in thousands): December 31, 2019 2018 Land $ 141,851 $ 128,302 Real property interests – perpetual 100,810 101,343 Real property interests – finite life 422,923 416,080 Real property interests – ROU asset finance lease 19,595 — Construction in progress 68,907 29,556 Total land and real property interests 754,086 675,281 Accumulated amortization of real property interests (50,015 ) (39,069 ) Land and net real property interests $ 704,071 $ 636,212 Sales During the year ended December 31, 2019, the Partnership completed a sale of two wireless communication sites held for sale commencing March 31, 2019 and three outdoor advertising sites to a third party in exchange for cash consideration of $1.4 million. We recognized a gain on sale of real property interest of $0.5 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, 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. During the year ended December 31, 2018, the Partnership completed a sale of one outdoor advertising site to a third party in exchange for cash consideration of $0.1 million. We recognized a loss on sale of real property interest of less than $0.1 million upon completion of the sale. Additionally, during the year ended December 31, 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 8, Investment in Unconsolidated Joint Venture During the year ended December 31, 2017, the Partnership completed a sale of one wireless communication site to a third party in exchange for cash consideration of $0.2 million. We recognized a loss on sale of real property interest of less than $0.1 million upon completion of the sale. Acquisitions and Developments During the years ended December 31, 2018 and 2017, the Partnership paid total consideration of $59.9 million and $118.3 million, respectively, for drop-down Acquisitions. There were no drop-down acquisitions during the year ended December 31, 2019. During the year ended 2018, the difference between the total consideration of $59.9 million and the net carrying value of $39.5 million, respectively, was allocated to the General Partner. During 2017, the Partnership started developing an ecosystem of technologies that provide 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 fourth quarter of fiscal year 2018, the Partnership entered into an agreement with Dallas Area Rapid Transit (“DART”) to develop a smart media and communications platform which will include the deployment of content-rich kiosks and the Partnership’s smart enabled infrastructure In 2019, the Partnership commenced conversion of certain outdoor advertising sites from static billboards to digital billboards in the U.K. As of December 31, 2019 and 2018, the Partnership had $68.9 million and $29.6 million of construction in progress balance is primarily related to these projects, respectively. During the years ended December 31, 2019 and 2018, the Partnership completed construction on nine and four smart enabled 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 U.K. and Europe. Our venture partner provides acquisition opportunities and asset management services to the consolidated joint venture. As of December 31, 2019 and 2018, the consolidated joint venture had 168 and 34 tenant sites and one investment in receivables with total net book value of $92.8 million and $43.5 million. During the years ended December 31, 2019, 2018 and 2017, the consolidated joint venture generated rental revenue of $5.6 million, $3.4 million and $0.8 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 made during the years ended December 31, 2019, 2018, and 2017 of estimated fair values of the assets acquired and liabilities assumed (in thousands). Investments in real In-place lease Above-market Below-market ROU Lease Period Land property interests intangibles lease intangibles lease intangibles Assets Liability Total 2019 $ 11,813 $ 17,154 $ 5,730 $ 86 $ (113 ) $ 21,570 $ (1,640 ) $ 54,600 2018 16,646 91,314 7,939 1,309 (2,031 ) — — 115,177 2017 25,151 107,195 3,781 976 (1,850 ) — — 135,253 Future estimated aggregate amortization of finite lived real property interests for each of the five succeeding fiscal years and thereafter as of December 31, 2019, are as follows (in thousands): 2020 $ 12,166 2021 11,693 2022 11,329 2023 11,237 2024 11,142 Thereafter 334,936 Total $ 392,503 The weighted average remaining amortization period for non‑perpetual real property interests is 40 years and 42 years at December 31, 2019 and 2018, respectively. Impairments During the years ended December 31, 2019, 2018 and 2017, eight, six and six of the Partnership’s real property interests were impaired and we recognized impairment charges totaling $0.7 million, $0.6 million and $0.8 million, respectively. The carrying value of each real property interest was determined to have a fair value of zero. Additionally, the Partnership recognized impairment charges related to certain construction in progress of $1.6 million during the year ended December 31, 2019. Assets and Liabilities Held for Sale In June 2018, the Partnership entered into a plan to sell one of its real property interests. The Partnership determined that the sale does not meet the criteria for discontinued operations presentation as the plan to sell does not represent a strategic shift that will have a major effect on its operations and financial results. As a result of this classification, the assets and liabilities of the real property interest are separately presented as AHFS and liabilities associated with AHFS in the consolidated balance sheet as of December 31, 2018. On January 4, 2019, the sale was completed for total consideration of $13.5 million. The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are as follows (in thousands): December 31, 2019 2018 Land $ 421 $ 1,286 Real property interests, net — 5,566 Other intangible assets, net — 994 AHFS $ 421 $ 7,846 Other intangible liabilities, net $ — $ 397 Liabilities associated with AHFS $ — $ 397

Other Intangible Assets and Lia

Other Intangible Assets and Liabilities	12 Months Ended
	Dec. 31, 2019
Other Intangible Assets And Liabilities [Abstract]
Other Intangible Assets and Liabilities	5. Other Intangible Assets and Liabilities The following summarizes our identifiable intangible assets, including above/below‑market lease intangibles (in thousands): December 31, 2019 2018 Acquired in-place lease Gross amount $ 28,908 $ 23,261 Accumulated amortization (8,142 ) (6,237 ) Net amount $ 20,766 $ 17,024 Acquired above-market leases Gross amount $ 6,627 $ 6,542 Accumulated amortization (3,427 ) (2,727 ) Net amount $ 3,200 $ 3,815 Total other intangible assets, net $ 23,966 $ 20,839 Acquired below-market leases Gross amount $ (16,817 ) $ (17,097 ) Accumulated amortization 9,211 7,806 Total other intangible liabilities, net $ (7,606 ) $ (9,291 ) We recorded net amortization of above and below‑market lease intangibles of $0.9 million, $1.2 million and $1.2 million as an increase to rental revenue for the years ended December 31, 2019, 2018 and 2017, respectively. We recorded amortization of in‑place lease intangibles of $2.0 million, $2.1 million and $1.6 million as amortization expense for the years ended December 31, 2019, 2018, and 2017, respectively. Future aggregate amortization of intangibles for each of the five succeeding fiscal years and thereafter as of December 31, 2019 follows (in thousands): Acquired Acquired Acquired in-place above-market below-market leases leases leases 2020 $ 1,748 $ 543 $ (1,517 ) 2021 1,681 432 (1,379 ) 2022 1,585 351 (1,256 ) 2023 1,291 314 (813 ) 2024 1,177 292 (723 ) Thereafter 13,284 1,268 (1,918 ) Total $ 20,766 $ 3,200 $ (7,606 )

Future Minimum Rents

Future Minimum Rents	12 Months Ended
	Dec. 31, 2019
Lessor Disclosure [Abstract]
Future Minimum Rents	6. Future Minimum Rents At December 31, 2019, future minimum receipts from tenants on leases with non‑cancellable terms, including cancellable leases where the tenant is economically compelled to extend the lease term, for each of the next five years and thereafter are as follows (in thousands): 2020 $ 17,992 2021 17,798 2022 17,638 2023 16,531 2024 14,823 Thereafter 45,534 Total $ 130,316

Investments in Receivables

Investments in Receivables	12 Months Ended
	Dec. 31, 2019
Notes Receivable Net [Abstract]
Investments in Receivables	7. Investments in Receivables Investment in receivables includes 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 included in investments in receivables in our 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 year ended December 31, 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 their 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 $0.8 million, $1.6 million and $1.6 million during 2019, 2018, and 2017, 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): Year Ended December 31, 2019 2018 Investments in receivables – beginning $ 18,348 $ 20,782 Impairments — (785 ) Sales (8,331 ) (350 ) Other (742 ) — Repayments (564 ) (1,108 ) Interest accretion 9 3 Foreign currency translation adjustment 102 (194 ) Investments in receivables – ending $ 8,822 $ 18,348 Annual amounts due as of December 31, 2019, are as follows (in thousands): 2020 $ 1,297 2021 1,345 2022 1,463 2023 1,570 2024 1,631 Thereafter 10,005 Total $ 17,311 Interest $ 8,489 Principal 8,822 Total $ 17,311

Investment in Unconsolidated Jo

Investment in Unconsolidated Joint Venture	12 Months Ended
	Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
Investment in Unconsolidated Joint Venture	8. 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, which was completed by the Partnership on June 6, 2018. The 2018 Securitization financed 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 the Partnership’s contribution of assets and liabilities, at cost, to the unconsolidated JV as of the date of the Transaction (in thousands): Assets Cash, cash equivalents and restricted cash $ 1,549 Real property interests, net 153,028 Other intangible assets, net 2,468 Total assets $ 157,045 Liabilities Secured notes $ 122,084 Other intangible liabilities, net 3,046 Other liabilities 758 Total liabilities $ 125,888 Net equity contributed to the unconsolidated joint venture $ 31,157 The following table summarizes the Partnership’s gain on the contribution of real property interests to the unconsolidated JV as of the date of the Transaction (in thousands): Investment in unconsolidated joint venture $ 65,611 Proceeds from sale of real property interests 65,585 Less: Net equity contributed to the unconsolidated joint venture (31,157 ) Gain on sale of real property interests $ 100,039 The following table summarizes balance sheet information for the unconsolidated JV (in thousands): December 31, 2019 2018 Total assets $ 255,157 $ 263,228 Total liabilities 127,611 128,448 Total equity 127,546 134,780 Total liabilities and equity $ 255,157 $ 263,228 The following table summarizes financial information for the unconsolidated JV (in thousands): Year Ended December 31, 2019 2018 Rental revenue $ 14,245 $ 3,697 Net income 796 117 Partnership's share in net income 398 59 Distributions declared to the Partnership 3,983 —

Debt

Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	9. Debt The following table summarizes the Partnership’s debt (in thousands): Outstanding Balance Maturity Date December 31, 2019 December 31, 2018 Revolving credit facility November 15, 2023 $ 232,907 $ 155,000 4.38% senior secured notes June 30, 2036 $ 39,945 $ 42,058 Series 2017-1 Class A November 15, 2022 (1) 59,124 60,900 Series 2017-1 Class B November 15, 2022 (1) 17,172 17,563 Series 2016-1 Class A June 1, 2021 (2) 82,175 86,258 Series 2016-1 Class B June 1, 2021 (2) 25,100 25,100 Secured Notes $ 223,516 $ 231,879 Discount on Secured Notes (1,081 ) (1,454 ) Deferred loan costs (5,337 ) (6,740 ) Secured Notes, net $ 217,098 $ 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 The Partnership’s revolving credit facility with SunTrust Bank, as administrative agent, and a syndicate of lenders will mature on November 15, 2023 and will be available for working capital, capital expenditures, permitted acquisitions and general partnership purposes, including distributions. 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. In addition, our revolving credit facility contains customary events of default, including, but not limited to (i) event of default resulting from our failure or the failure of our restricted subsidiaries to comply with covenants and financial ratios, (ii) the occurrence of a change of control (as defined in the credit agreement), (iii) the institution of insolvency or similar proceedings against us or our restricted subsidiaries, (iv) the occurrence of a default under any other material indebtedness (as defined in the credit agreement) we or our restricted subsidiaries may have and (v) any one or more collateral documents ceasing to create a valid and perfected lien on collateral (as defined in the credit agreement). Upon the occurrence and during the continuation of an event of default, subject to the terms and conditions of the credit agreement, the lenders may declare any outstanding principal of our revolving credit facility debt, together with accrued and unpaid interest, to be immediately due and payable and may exercise the other remedies set forth or referred to in the credit agreement and the other loan documents. Loans under the revolving credit facility bear interest at a rate equal to LIBOR related to the currency for which borrowings are denominated 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 December 31, 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 December 31, 2019, $232.9 million was outstanding, which includes £40.5 million of GBP debt. Our revolving credit facility contains various covenants and restrictive provisions that limit our ability (as well as the ability of our restricted subsidiaries) to incur or guarantee additional debt, among other things. As of December 31, 2019 there was $217.1 million of undrawn borrowing capacity (including a standby letter of credit arrangement of $2.4 million), subject to compliance with various financial covenants. As of December 31, 2019, the Partnership was in compliance with all 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. In December 2019, we obtained a waiver of the default from the holders of the 4.38% Senior Secured Notes. 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 Series 2017-1 Secured Notes, Class A and Class B (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 to be used 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. The Partnership is required to make monthly payments of principal and interest on Class A and Class B 2017 Secured Notes based on a 30-year amortization period, commencing in January 2018. On each payment date on and after the payment date occurring in January 2018, available funds are used to repay the Class A 2017 Secured Notes in an amount sufficient to pay the Class A 2017 Secured Notes monthly amortization amount and to repay the Class B 2017 Secured Notes in an amount sufficient to pay the Class B 2017 Secured Notes monthly amortization amount on such payment date. No other payments of principal will be required to be made prior to the anticipated repayment date in November 2022. 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 Series 2016-1 Secured Notes, Class A and Class B (the “2016 Secured Notes”), in an aggregate principal amount of $116.6 million. The net proceeds from the 2016 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 Partnership is required to make monthly payments of principal and interest on the Class A 2016 Secured Notes based on a 30-year amortization period and monthly payments of interest only on the Class B 2016 Secured Notes, commencing in July 2016. On each payment date on and after the payment date occurring in July 2016, available funds are used to repay the Class A 2016 Secured Notes in an amount sufficient to pay the Class A 2016 Secured Notes monthly amortization amount. No other payments of principal are required to be made prior to the anticipated repayment date in June 2021. The 2016 Secured Notes were paid in full ($108 million) subsequent to the year ended December 31, 2019. See Note 22, Subsequent Events 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 December 31, 2019 and 2018, $5.6 million and $3.7 million was held in such reserve accounts which are classified as Restricted Cash on the accompanying consolidated balance sheets. Certain information with respect to the 2017 Securitization and the 2016 Securitization is set forth below. The debt service coverage ratio (“DSCR”) is generally calculated as the ratio of annualized net cash flow (as defined in the applicable indenture) to the amount of interest, servicing fees and trustee fees required to be paid over the succeeding 12 months on the principal amount of the Secured Notes, as applicable, that will be outstanding on the payment date following such date of determination. Conditions Limiting Distributions of Excess Cash Issuer or Borrower Notes Issued Cash Trap DSCR Amortization Period 2017 Securitization LMRK Issuer Co. 2 LLC Series 2017-1 Secured Notes, Class A and Class B 1.30x (1) (2) 2016 Securitization LMRK Issuer Co. LLC Series 2016-1 Secured Notes, Class A and Class B 1.30x (1) (2) (1) Once triggered, a Cash Trap DSCR condition continues to exist until the DSCR exceeds the Cash Trap DSCR for two consecutive calendar months. During a Cash Trap DSCR condition, all cash flow in excess of amounts required to make debt service payments, to fund required reserves, to pay management fees and budgeted operating expenses and to make other payments required under the indenture, referred to as excess cash flow, will be deposited into a reserve account instead of being released to the applicable issuer. (2) An amortization period commences if the DSCR is equal to or below 1.15x (the “Minimum DSCR”) at the end of any calendar month and continues to exist until the DSCR exceeds the Minimum DSCR for two consecutive calendar months. 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 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. As of December 31, 2019, the Partnership was in compliance with all financial covenants required under the Secured Notes. The Secured Notes’ annual principal payment amounts due as of December 31, 2019, are as follows (in thousands): 2020 $ 10,313 2021 (1)(2) 108,013 2022 72,440 2023 2,714 2024 2,889 Thereafter (1) 27,147 Total $ 223,516 (1) Reflects anticipated repayment dates. (2) In January 2020, the Partnership repaid the outstanding balance of the 2016 Secured Notes. Interest Expense For the years ended December 31, 2019, 2018 and 2017, the Partnership incurred interest expense of $18.2 million, $24.3 million and $18.4 million, respectively, and had interest payable of $0.5 million and $0.3 million as of December 31, 2019 and 2018, respectively. Additionally, the Partnership recorded deferred loan costs and amortization of discount on secured notes, which is included in interest expense, of $3.1 million, $3.8 million and $2.2 million for the years ended December 31, 2019, 2018 and 2017, respectively. In connection with the amendment of the credit facility on November 15, 2018, the unamortized balance of the deferred loan costs totaling $0.2 million was recorded as a loss on extinguishment of debt during the year ended December 31, 2018.

Interest Rate Swap Agreements

Interest Rate Swap Agreements	12 Months Ended
	Dec. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Interest Rate Swap Agreements	10. 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 Effective Maturity Fair Value Asset (Liability) at December 31, Entered Value Fixed Rate Index Date Date 2019 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 (264 ) 1,259 March 23, 2016 50,000 1.67 1-month USD LIBOR 12/24/2018 12/24/2021 (113 ) 1,117 March 31, 2016 20,000 1.56 1-month USD LIBOR 12/24/2018 12/24/2021 (4 ) 508 March 31, 2016 25,000 1.63 1-month USD LIBOR 4/13/2019 4/13/2022 (48 ) 569 June 12, 2017 50,000 2.10 1-month USD LIBOR 3/2/2018 9/2/2024 (1,045 ) 1,035 November 15, 2018 £ 38,000 1.49 1-month GBP LIBOR 11/30/2020 11/30/2025 (1,675 ) (402 ) $ (3,149 ) $ 4,188 During the years ended December 31, 2019, 2018 and 2017, the Partnership recorded a loss of $7.3 million, a gain of $1.0 million and a gain of $1.7 million, respectively, resulting from the change in fair value of the interest rate swap agreements which is reflected as an unrealized gain (loss) on derivatives on the consolidated statements of operations. Additionally, during the year ended December 31, 2018, the Partnership recognized less than $0.1 million of foreign currency transaction loss resulting from the changes in exchange rates as of December 31, 2018 affecting mark-to-market adjustments on our foreign currency interest rate swap agreement denominated in pound sterling. The fair value of the interest rate swap agreements is 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’ value including change in fair value at December 31, 2019. The following table summarizes the results 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 365 (930 ) 996 (1,594 ) March 23, 2016 12/24/2021 347 (591 ) 807 (1,069 ) March 31, 2016 12/24/2021 181 (194 ) 364 (385 ) March 31, 2016 4/13/2022 220 (326 ) 487 (605 ) June 12, 2017 9/2/2024 (12 ) (2,232 ) 1,056 (3,387 ) November 15, 2018 11/30/2025 (563 ) (3,099 ) 637 (4,439 )

Unit-Based Compensation

Unit-Based Compensation	12 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Unit-Based Compensation	11. Unit-Based Compensation Compensation of our Directors On January 25, 2018 the board of directors of the General Partner adopted the Amended and Restated Non-Employee Director Compensation Plan that provides each director that is neither an officer of the General Partner nor an employee or an affiliate of the General Partner with annualized compensation consisting of $40,000 in cash, payable quarterly, and an annual grant of Common Units valued at $40,000 and additional cash compensation for attending meetings of the board of directors of the General Partner or a committee thereof. Additionally, the chairman of the audit committee of the board of directors shall be entitled to additional annualized cash compensation of $15,000 and the chairman of any other committee of the board of directors, as may be established at any time, shall be entitled to an amount in cash as determined by the board of directors. Our Long‑Term Incentive Plan In connection with the IPO, the board of directors of the General Partner adopted the Landmark Infrastructure Partners LP 2014 Long-Term Incentive Plan (the “LTIP”). The LTIP provides for the grant, from time to time at the discretion of the board of directors of the General Partner or any committee thereof that may be established for such purpose or by any delegate of the board of directors or such committee, subject to applicable law (the “plan administrator”), of equity-based awards. The purpose of the LTIP is to promote the interests of the Partnership and the General Partner by providing incentive compensation awards to individuals providing services to the Partnership or the General Partner to encourage superior performance. The LTIP is also intended to enhance the ability of the Partnership and the General Partner to attract and retain the services of individuals who are essential for the growth and profitability of the Partnership and the General Partner and to encourage these individuals to devote their best efforts to advancing the business of the Partnership and the General Partner. The LTIP will initially limit the number of units that may be delivered pursuant to vested awards to 785,000 Common Units, subject to proportionate adjustment in the event of unit splits and similar events, with such amount increased annually on the first day of each calendar year beginning January 1, 2016 and ending on and including January 1, 2024 by a number of Common Units equal to the least of (i) 1,570,000 Common Units, (ii) 2% of the total number of common units outstanding on the last day of the immediately preceding calendar year and (iii) such smaller number of Common Units as determined by the board of directors of the General Partner. Common Units subject to awards that are cancelled, forfeited, withheld to satisfy exercise prices or tax withholding obligations, or otherwise terminated without delivery of the Common Units will be available for delivery pursuant to other awards. We have granted 10,631, 3,826 and 6,798 units under our LTIP as compensation to our Non-Employee Directors during the years ended December 31, 2019, 2018 and 2017, respectively, and no other awards were granted to any of our executive officers.

Equity

Equity	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Equity	12. Equity The table below summarizes changes in the numbers of units outstanding for the years ended December 31, 2019, 2018 and 2017 (in units): Mezzanine Equity - Series A Series B Series C Common Subordinated Preferred Preferred Preferred Balance at December 31, 2016 19,450,555 3,135,109 863,957 1,840,000 — Issuance of units to Fund G - April 28, 2017 221,729 — — — — Issuance under ATM Programs 240,426 — 704,445 623,015 — Issuance under Unit Exchange Program 226,950 — — — — Unit-based compensation 6,798 — — — — Balance at 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 508,157 — — — — Unit-based compensation 3,826 — — — — Balance at December 31, 2018 25,327,801 — 1,593,149 2,463,015 2,000,000 Issuance under ATM Programs — — 128,892 81,778 — Conversion of Series C Preferred Units 14,708 — — — (11,300 ) Unit-based compensation 10,631 — — — — Balance at December 31, 2019 25,353,140 — 1,722,041 2,544,793 1,988,700 On February 23, 2017, the Partnership filed a universal shelf registration statement on Form S-3 with the SEC. The shelf registration statement was declared effective by the SEC on March 27, 2017 and permits us to issue and sell common and preferred units, from time to time, representing limited partner interests in us and debt securities up to an aggregate amount of $750.0 million. The February 23, 2017 shelf registration was subsequently replaced by the December 4, 2019 shelf registration described below, which became effective subsequent to the year ended December 31, 2019. On December 4, 2019, the Partnership filed a universal shelf registration statement on Form S-3 with the SEC. The shelf registration statement was declared effective by the SEC on January 30, 2020 and permits us to issue and sell, from time to time, common and preferred units representing limited partner interests in us, and debt securities up to an aggregate amount of $750.0 million. Common Units 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 On February 16, 2016, the Partnership established a Common Unit at-the-market offering program (the “2016 Common Unit ATM Program”) that expired on December 30, 2018, therefore, no Common Units were issued under the 2016 Common Unit ATM Program during the year ended December 31, 2019. During the years ended December 31, 2018 and 2017, the Partnership issued 27,830 and 240,426 Common Units under the 2016 Common Unit ATM Program, generating proceeds of approximately $0.5 million and $4.2 million before issuance costs, respectively. On May 3, 2019, the Partnership established a Common Unit at-the-market offering program (the “2019 Common Unit ATM Program” and together with the 2016 Common Unit ATM Program, the “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 year ended December 31, 2019. 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. Preferred Units On June 24, 2016, the Partnership established a Series A Preferred Unit at-the-market offering program (the “2016 Series A Preferred Unit ATM Program”), that expired on December 30, 2018, therefore, no Series A Preferred Units were issued under the 2016 Series A ATM Program during the year ended December 31, 2019. On March 30, 2017, the Partnership established a Series B Preferred Unit at-the-market offering program (the “Series B Preferred Unit ATM Program”), 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 Preferred 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. During the years ended December 31, 2019 and 2017, the Partnership issued 81,778 and 623,015 Series B Preferred Units under our Series B Preferred Unit ATM Program, generating proceeds of approximately $2.1 million and $15.6 million before issuance costs, respectively. No Series B Preferred Units were issued under our Series B Preferred Unit ATM Program during the year ended December 31, 2018. As of December 31, 2019, we have $32.3 million remaining available to be issued under the Series B Preferred Unit ATM Program. On May 3, 2019, the Partnership established a Series A Preferred Unit at-the-market offering program (the “2019 Series A ATM Program” and together with the 2016 Series A Preferred Unit ATM Program, Series B Preferred Unit ATM Program and Common Unit ATM Program the “ATM Programs” 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 Series B Preferred Units 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 “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 year ended December 31, 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 March 31, 2017 April 20, 2017 May 15, 2017 $ 0.3525 $ 8,133 June 30, 2017 July 19, 2017 August 14, 2017 0.3550 8,222 September 30, 2017 October 18, 2017 November 14, 2017 0.3575 8,303 December 31, 2017 January 24, 2018 February 14, 2018 0.3675 9,304 March 31, 2018 April 19, 2018 May 15, 2018 0.3675 9,384 June 30, 2018 July 19, 2018 August 14, 2018 0.3675 9,431 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 December 31, 2019 (1) January 24, 2020 February 14, 2020 0.3675 9,360 Series A Preferred Units March 31, 2017 March 16, 2017 April 17, 2017 $ 0.5000 $ 432 June 30, 2017 June 22, 2017 July 17, 2017 0.5000 555 September 30, 2017 September 21, 2017 October 16, 2017 0.5000 713 December 31, 2017 December 21, 2017 January 16, 2018 0.5000 784 March 31, 2018 March 23, 2018 April 16, 2018 0.5000 797 June 30, 2018 June 21, 2018 July 16, 2018 0.5000 797 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 December 31, 2019 December 20, 2019 January 15, 2020 0.5000 861 Series B Preferred Units March 31, 2017 April 20, 2017 May 15, 2017 $ 0.4938 $ 934 June 30, 2017 July 19, 2017 August 15, 2017 0.4938 990 September 30, 2017 October 18, 2017 November 15, 2017 0.4938 1,203 December 31, 2017 January 22, 2018 February 15, 2018 0.4938 1,216 March 31, 2018 April 19, 2018 May 15, 2018 0.4938 1,216 June 30, 2018 July 19, 2018 August 15, 2018 0.4938 1,216 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 December 31, 2019 January 23, 2020 February 18, 2020 0.4938 1,298 Series C Preferred Units June 30, 2018 (2) April 19, 2018 May 15, 2018 $ 0.2090 $ 418 June 30, 2018 July 19, 2018 August 15, 2018 0.4400 880 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 December 31, 2019 January 23, 2020 February 18, 2020 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. (2) The first distribution declared by the Partnership for the Series C Preferred Units was prorated for the 43-day period following the closing of the issuance on April 2, 2018. The distribution was paid on May 15, 2018 to unitholders of record as of May 1, 2018

Net Income (Loss) Per Limited P

Net Income (Loss) Per Limited Partner Unit	12 Months Ended
	Dec. 31, 2019
Earnings Per Unit [Abstract]
Net Income (Loss) Per Limited Partner Unit	13. 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 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 and subordinated units and Series C Preferred Units. Net income (loss) related to the Drop-down Assets prior to the Partnership’s acquisition dates of each transaction is allocated to the General Partner. 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 and subordinated unitholders for the years ended December 31, 2019, 2018 and 2017 is as follows (in thousands): Year Ended December 31, 2019 2018 2017 Net income attributable to limited partners $ 21,575 $ 115,794 $ 19,257 Less: Distributions declared on Preferred Units (11,883 ) (10,630 ) (6,673 ) General partner's incentive distribution rights (1) (788 ) (784 ) (488 ) Accretion of Series C preferred units (641 ) — — Net income attributable to common and subordinated unitholders 8,263 104,380 12,096 Distributions declared on common units (37,301 ) (37,022 ) (28,983 ) Distributions declared on subordinated units — — (4,491 ) Undistributed net income (loss) $ (29,038 ) $ 67,358 $ (21,378 ) (1) The General Partner irrevocably waived its right to receive the incentive distribution and incentive allocations related to each quarterly distribution during the year ended December 31, 2019 and for the three months ended September 30, 2018 and December 31, 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 (loss) per unit related to the Partnership for the years ended December 31, 2019, 2018 and 2017 is as follows (in thousands, except per unit data): Year Ended December 31, 2019 2018 2017 Common Common Subordinated Common Subordinated Units Units Units Units Units Distributions declared $ 37,301 $ 37,022 $ — $ 28,983 $ 4,491 Undistributed net income (loss) (29,038 ) 67,661 (303 ) (18,440 ) (2,938 ) Net income (loss) attributable to common and subordinated units - basic 8,263 104,683 (303 ) 10,543 1,553 Net income (loss) attributable to subordinated units — (303 ) — 1,553 — Distributions on dilutive preferred units — 2,613 — — — Net income (loss) attributable to common and subordinated units - diluted $ 8,263 $ 106,993 $ (303 ) $ 12,096 $ 1,553 Weighted-average units outstanding: Basic 25,343 24,626 387 19,701 3,135 Effect of dilutive subordinated units — 387 — 3,135 — Effect of dilutive preferred units — 1,954 — — — Diluted 25,343 26,967 387 22,836 3,135 Net income (loss) per common and subordinated unit: Basic $ 0.33 $ 4.25 $ (0.78 ) $ 0.54 $ 0.50 Diluted (1)(2) $ 0.33 $ 3.97 $ (0.78 ) $ 0.53 $ 0.50 (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. Effective February 15, 2018, all of the subordinated units, which were owned by Landmark, were converted on a one-for-one basis into Common Units. The diluted effect of Landmark’s subordinated units is reflected using the “if-converted method” which assumes conversion of the subordinated units into Common Units and excludes the subordinated distributions from the calculation, as the “if-converted method” is more dilutive. (2) 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 year ended December 31, 2019 and, as a result, have been excluded in the determination of diluted net income (loss) per common unit. Potential common unit equivalents were dilutive for the year ended December 31, 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	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	14. 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‑orderly trades. The Partnership evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of assets and liabilities for which it is practicable to estimate the fair value: Cash and cash equivalents, rent receivables, net 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): December 31, 2019 2018 Carrying amount Fair Value Carrying amount Fair Value Investment in receivables, net $ 8,822 $ 8,859 $ 18,348 $ 18,867 Revolving credit facility 232,907 232,907 155,000 155,000 Secured Notes, net 217,098 221,577 223,685 224,333 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. For the years ended December 31, 2019 and 2018, the Partnership measured the following assets and liabilities at fair value on a recurring basis (in thousands): December 31, 2019 2018 Derivative Assets (1) $ — $ 4,590 Derivative Liabilities (1) $ 3,149 $ 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	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Related-Party Transactions	15. 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% four consecutive fiscal quarters exceeded $120 million For the years ended December 31, 2019, 2018 and 2017, Landmark reimbursed us $3.7 million, $2.8 million and $3.5 million, respectively, for expenses related to certain general and administrative services that exceeded the cap. During the year ended December 31, 2019, $0.3 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. Additionally, indemnification of $0.4 million related to property taxes and is included in capital contributions from Sponsor on the As of December 31, 2018, $0.1 million is included within due from affiliates related to the fourth quarter general and administrative reimbursement from Landmark including the unconsolidated JV management fees. Additionally, indemnification of $1.0 million related to certain assets is included in capital contributions from Sponsor on the Consolidated Statement of Equity and Mezzanine Equity for 2018. 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 years ended December 31, 2019, 2018 and 2017, we incurred $0.1 million 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 years ended December 31, 2018, the Partnership waived its ROFO on certain assets in investment funds managed by Landmark. During the years ended December 31, 2018 and 2017, 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 — Various (1) Fund G 2 — 14.8 221,729 221,729 (1) In connection with the Fund G drop-down acquisition, the Partnership entered into a contractual obligation to acquire two tenant sites and related real property interests. The Partnership acquired one of these tenant sites and related real property interests on March 31, 2017 for cash consideration of $7.5 million and the remaining additional tenant site for $3.8 million on April 28, 2017. Upon completion of the full acquisition, the Partnership issued to Fund G on April 28, 2017. 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 (i) 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 (ii) 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 $270,677, $53,685 and $18,451 of Secured Tenant Site Assets’ management fees during the years ended December 31, 2019, 2018 and 2017, 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 2019 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 years ended December 31, 2019 and 2018, the unconsolidated JV incurred $0.3 million and $0.1 million of management fees and included in capital contributions from Sponsor on the Consolidated Statement of Equity and Mezzanine Equity. 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 may 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. There were no such fees incurred during the years ended December 31, 2019, 2018 and 2017. 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 December 31, 2019 and 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 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 each quarterly distribution during the year ended December 31, 2019 and for the three months ended September 30, 2018 and December 31, 2018, totaling $0.8 million and $0.4 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 years ended December 31, 2019, 2018 and 2017, we paid zero, $0.4 million and $0.5 million of incentive distribution rights, respectively. Due from Affiliates At December 31, 2019 and 2018, the General Partner and affiliates owed $1.1 million and $1.4 million, respectively, to the Partnership primarily for 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	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment Information	16. 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 triple net or 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 year ended December 31, 2019 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 29,713 $ 21,135 $ 8,492 $ — $ 59,340 Expenses Property operating 289 1,275 419 — 1,983 General and administrative — — — 5,567 5,567 Acquisition-related — — — 1,163 1,163 Amortization 9,508 4,198 529 — 14,235 Impairments 1,846 442 — — 2,288 Total expenses 11,643 5,915 948 6,730 25,236 Total other income and expenses 11,684 502 7,062 (27,963 ) (8,715 ) Income (loss) before income tax expense 29,754 15,722 14,606 (34,693 ) 25,389 Income tax expense — — — 3,783 3,783 Net income (loss) $ 29,754 $ 15,722 $ 14,606 $ (38,476 ) $ 21,606 For the year ended December 31, 2018 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 37,879 $ 18,820 $ 8,066 $ — $ 64,765 Expenses Property operating 258 681 208 — 1,147 General and administrative — — — 4,731 4,731 Acquisition-related — — — 3,287 3,287 Amortization 11,902 3,578 672 — 16,152 Impairments 1,169 390 — — 1,559 Total expenses 13,329 4,649 880 8,018 26,876 Total other income and expenses 105,479 242 811 (28,373 ) 78,159 Income (loss) before income tax expense 130,029 14,413 7,997 (36,391 ) 116,048 Income tax expense — — — 227 227 Net income (loss) $ 130,029 $ 14,413 $ 7,997 $ (36,618 ) $ 115,821 For the year ended December 31, 2017 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 33,456 $ 11,367 $ 7,802 $ — $ 52,625 Expenses Property operating 22 228 144 — 394 General and administrative — — — 5,286 5,286 Acquisition-related 22 230 — 1,035 1,287 Amortization 10,898 2,070 569 — 13,537 Impairments 645 203 — — 848 Total expenses 11,587 2,731 713 6,321 21,352 Total other income and expenses 698 144 740 (16,724 ) (15,142 ) Income (loss) before income tax benefit 22,567 8,780 7,829 (23,045 ) 16,131 Income tax benefit — — — (3,145 ) (3,145 ) Net income (loss) $ 22,567 $ 8,780 $ 7,829 $ (19,900 ) $ 19,276 The Partnership’s total assets by segment were (in thousands): December 31, 2019 2018 Segments Wireless communication $ 452,127 $ 433,254 Outdoor advertising 284,203 216,326 Renewable power generation 99,856 112,338 Corporate assets 19,419 24,695 Total assets $ 855,605 $ 786,613 The following table represents the Partnership’s rental revenues by geographic location (in thousands): December 31, 2019 2018 2017 United States $ 52,447 $ 60,441 $ 51,144 Europe 5,639 3,356 814 Australia 1,189 910 614 Canada 65 58 53 Total rental revenue $ 59,340 $ 64,765 $ 52,625 The following table represents the Partnership’s total assets by geographic location (in thousands): December 31, 2019 2018 United States $ 726,343 $ 720,331 Europe 114,448 53,850 Australia 13,926 11,830 Canada 888 602 Total assets $ 855,605 $ 786,613

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. 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 combined 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 December 31, 2019, the Partnership had approximately $65.4 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	12 Months Ended
	Dec. 31, 2019
Risks And Uncertainties [Abstract]
Tenant Concentration	18. Tenant Concentration For the years ended December 31, 2019, 2018 and 2017, the Partnership had the following tenant revenue concentrations: Year Ended December 31, Tenant 2019 2018 2017 Clear Channel Outdoor 13.3 % 11.6 % 8.8 % T-Mobile 8.4 % 9.6 % 11.7 % AT&T Mobility 7.1 % 9.3 % 11.0 % Sprint 5.8 % 7.8 % 9.5 % 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.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	19. Income Taxes The Partnership is not a taxable entity for United States federal income tax purposes instead any tax liability on our net income is generally borne by our partners through their allocation of taxable income. The Partnership files in various state jurisdictions that generally follow this federal treatment. Our consolidated REIT Subsidiary has elected to be treated as a REIT with the filing of its 2017 initial federal tax return and may deduct earnings distributed to stockholders against the income generated by its REIT operations. As a result, it has historically not generated any federal income tax liability. Our consolidated corporate U.S. subsidiary Asset OpCo conducts certain activities that may not generate qualifying REIT income and is therefore taxable as a corporation for U.S. federal and state income tax purposes. Additionally, certain consolidated corporate foreign subsidiaries of the Partnership are subject to income tax in the foreign jurisdictions where they operate. The following information pertains to the Partnership’s income taxes on a consolidated basis. Consolidated Partnership income before income tax expense (benefit) by geographic area is as follows (in thousands): Year Ended December 31, 2019 2018 2017 Domestic $ 21,076 $ 116,045 $ 15,259 Foreign 4,313 3 872 Total $ 25,389 $ 116,048 $ 16,131 For the years ended December 31, 2019, 2018 and 2017, income tax expense (benefit) consisted of the following (in thousands): Year Ended December 31, 2019 2018 2017 Current Domestic $ 2,397 $ (10 ) $ — Foreign 725 15 70 Deferred Domestic 718 370 (3,215 ) Foreign (57 ) (148 ) — Income tax expense (benefit) $ 3,783 $ 227 $ (3,145 ) The statutory federal income tax rate is 21 percent for the years ended December 31, 2019 and 2018 and 34 percent for the year ended December 31, 2017 and the foreign income tax rates range from 15 percent to 39 percent. The difference between income tax expense (benefit) recorded by us and income taxes computed by applying the statutory corporate income tax rates to the consolidated Partnership income before income tax expense (benefit) is due to the fact that the majority of our income is not subject to federal, state and foreign income tax as described above. Reconciliation between the U.S. statutory rate and the effective rate from income before income tax expense (benefit) is as follows: Year Ended December 31, 2019 2018 2017 Statutory tax rate 21 % 21 % 34 % Adjustment to reflect MLP/REIT status (10 )% (21 )% (29 )% Foreign taxes 3 % — % — % Valuation allowance — % — % (32 )% Change in tax law — % — % 9 % Other 1 % — % (1 )% Effective tax rate 15 % — % (19 )% Deferred income taxes are recorded based on temporary differences between the financial statement carrying amounts and the tax basis of assets and liabilities. The statutory federal income tax rate of 21 percent is used for valuation of the deferred tax assets and liabilities and is based upon the tax rate expected to be in place when the deferred tax assets and liabilities are recognized. Asset OpCo and the corporate foreign subsidiaries routinely assesses their ability to realize deferred tax assets. If an entity concludes that it is more likely than not that some or all of the deferred tax assets will not be realized, the tax asset is reduced by a valuation allowance. Currently, the Partnership believes it is more likely than not that its deferred tax assets recorded will be realized, and as such no valuation allowance has been recorded as of December 31, 2019. The consolidated domestic and foreign deferred tax asset was $2.3 million and $3.0 million for the years ended December 31, 2019 and 2018, respectively. The reduction in the deferred tax asset in the current year is primarily due to the sale of a portfolio of assets by Asset OpCo. As of December 31, 2019, we had an immaterial liability for unrecognized tax benefits. We did not have any significant interest and penalties related to income taxes during the year ended December 31, 2019. The statutory federal income tax rate is 21 percent for valuation of the deferred tax assets and liabilities in future years resulting in a decrease in deferred tax asset of less than $0.1 million from December 31, 2017 to December 31, 2018. Asset OpCo believes it is more likely than not that the deferred tax asset will be realized and reduced its valuation allowance by $5.3 million, included in income tax benefit for the year ended December 31, 2017, resulting in zero valuation allowance as of December 31, 2018. The change in deferred taxes is primarily a result of differences between book and tax bases of the contributed and purchased assets into Asset OpCo, and operating loss carry forwards. Asset OpCo generated domestic NOLs, including federal and various states, for the years ended December 31, 2018 and 2017 which can be used to offset taxable income in future and prior years, subject to specified limitations. As of December 31, 2018 and 2017 Asset OpCo had an NOL carryforward of $0.4 million and $0.1 million, translating to a deferred tax asset before valuation allowance of less than $0.1 million. The federal NOL carryforward was fully utilized in 2019.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	20. Supplemental Cash Flow Information Noncash activities for the years ended December 31, 2019, 2018, and 2017 were as follows (in thousands): Year Ended December 31, 2019 2018 2017 Capital contribution to fund general and administrative expense reimbursement $ 896 $ 1,733 $ 491 Purchase price for acquisitions included in due to Landmark and affiliates — 436 196 Issuance of common units for Acquired Funds — 27,342 3,492 Unit Exchange Program acquisitions — 7,582 3,816 Distributions payable to preferred unitholders 1,781 1,710 1,296 Deferred loan costs included in accounts payable and accrued liabilities — — 285 Accretion of Series C preferred units 641 — — Conversion of Series C preferred units 283 — — Purchase price for acquisitions and development activities included in accounts payable 157 2,878 642 Investment in unconsolidated joint venture — (65,611 ) — Total assets contributed to unconsolidated joint venture — 157,045 — Total liabilities contributed to unconsolidated joint venture — (125,888 ) — Declared distributions receivable from the unconsolidated joint venture (600 ) — — Initial recognition of lease liabilities related to right of use assets 11,177 — — Deemed contribution by the General Partner 788 394 — Deemed distribution to the General Partner (788 ) (394 ) — Cash flows related to interest and income taxes paid were as follows (in thousands): Year Ended December 31, 2019 2018 2017 Cash paid for interest $ 14,855 $ 20,882 $ 15,797 Capitalized interest 2,003 759 48 Income taxes paid 2,839 76 28

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	21. Quarterly Financial Data (Unaudited) The following tables summarize quarterly financial data for the years ended December 31, 2019 and 2018 (in thousands, except unit data). Quarterly financial information has been retroactively adjusted for transactions between entities under common control. 2019 Quarter Ended March 31 June 30 September 30 December 31 Total rental revenue $ 14,393 $ 15,025 $ 14,402 $ 15,520 Net income 7,210 9,265 3,986 1,145 Less: Net income attributable to noncontrolling interest 8 8 7 8 Net income attributable to limited partners 7,202 9,257 3,979 1,137 Net income (loss) per common unit Common units – basic 0.15 0.23 0.03 (0.08 ) Common units – diluted 0.15 0.23 0.03 (0.08 ) Cash distribution declared per unit 0.3675 0.3675 0.3675 0.3675 2018 Quarter Ended March 31 June 30 September 30 December 31 Total rental revenue $ 15,695 $ 16,796 $ 17,560 $ 14,714 Net income (loss) 6,741 6,105 105,147 (2,172 ) Less: Net income attributable to noncontrolling interest 4 8 8 7 Net income (loss) attributable to limited partners 6,737 6,097 105,139 (2,179 ) Net income (loss) per common and subordinated unit Common units – basic 0.21 0.12 4.06 (0.21 ) Common units – diluted 0.19 0.12 3.71 (0.21 ) Subordinated units – basic and diluted (0.19 ) — — — Cash distribution declared per unit 0.3675 0.3675 0.3675 0.3675

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	22. Subsequent Events On January 15, 2020, certain subsidiaries of the Partnership entered into a master note purchase and participation agreement pursuant to which such subsidiaries issued and sold an initial $170 million aggregate principal amount of 3.90% series A senior secured notes in a private placement. The senior secured notes mature on January 14, 2027 and include an interest-only initial term of three years. The net proceeds were used to repay in full the 2016 Secured Notes by $108 million and the revolving credit facility by $59 million. In connection with the issuance of the senior secured notes, the Partnership obtained a standby letter of credit arrangement totaling $3.4 million. Subsequent to the year ended December 31, 2019, the Partnership issued a total of 109,724 Common Units, 23,287 Series A Preferred Units, and 84,139 Series B Preferred Units under our ATM Programs, generating total proceeds of approximately $4.5 million before issuance costs.

SCHEDULE III - REAL ESTATE AND

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	12 Months Ended
	Dec. 31, 2019
Real Estate And Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION	Landmark Infrastructure Partners LP Schedule III – Real Estate and Accumulated Depreciation (in thousands) December 31, 2019 Gross Amount at Which Carried Initial cost to the Partnership As of December 31, 2019 (1) Building and Building and Accumulated Date Description Location Encumbrances Land Improvements Total Land Improvements Total Depreciation (2) Acquired Wireless Communication Mound House, NV $ — $ 100 $ — $ 100 $ 100 $ — $ 100 $ — 2012 Wireless Communication Las Vegas, NV — 536 — 536 536 — 536 — 2012 Wireless Communication Tombstone, AZ — 593 — 593 593 — 593 — 2012 Outdoor Advertising Rosemont, IL — 971 — 971 971 — 971 — 2013 Outdoor Advertising Gary, IN — 119 — 119 119 — 119 — 2013 Wireless Communication Walnut Creek, CA — 705 — 705 705 — 705 — 2013 Wireless Communication Los Angeles, CA — 331 — 331 331 — 331 — 2013 Outdoor Advertising Largo, FL — 168 — 168 168 — 168 — 2014 Outdoor Advertising Grand Prairie, TX — 301 — 301 301 — 301 — 2014 Outdoor Advertising Terrell, TX — 48 — 48 48 — 48 — 2014 Outdoor Advertising Phoenix, AZ — 321 — 321 321 — 321 — 2014 Outdoor Advertising Houston, TX — 258 — 258 258 — 258 — 2014 Outdoor Advertising Saint Petersburg, FL — 200 — 200 200 — 200 — 2014 Outdoor Advertising Vadnais Heights, MN — 390 — 390 390 — 390 — 2014 Wireless Communication Orlando, FL — 531 — 531 531 — 531 — 2014 Outdoor Advertising Chattanooga, TN — 73 — 73 73 — 73 — 2014 Outdoor Advertising Monroe, MI — 447 — 447 447 — 447 — 2014 Outdoor Advertising Mary Esther, FL — 22 — 22 22 — 22 — 2015 Renewable Power Generation West Deptford, NJ — 1,812 — 1,812 1,812 — 1,812 — 2015 Wireless Communication Mary Esther, FL — 262 — 262 262 — 262 — 2015 Wireless Communication Milwaukee, WI — 273 — 273 273 — 273 — 2015 Renewable Power Generation West Chicago, IL — 1,275 — 1,275 1,275 — 1,275 — 2015 Renewable Power Generation Joliet, IL — 1,275 — 1,275 1,275 — 1,275 — 2015 Outdoor Advertising Phoenix, AZ — 325 — 325 325 — 325 — 2015 Renewable Power Generation Hubbardston, MA — 1,229 — 1,229 1,229 — 1,229 — 2015 Outdoor Advertising London, UK — 3,692 — 3,692 3,692 — 3,692 — 2016 Renewable Power Generation Valley Center, CA — 880 — 880 880 — 880 — 2016 Outdoor Advertising Homebush West, New South Wales — 476 — 476 476 — 476 — 2016 Outdoor Advertising Golden Square, Victoria — 244 — 244 244 — 244 — 2016 Outdoor Advertising Forbes, New South Wales — 30 — 30 30 — 30 — 2016 Renewable Power Generation Rosamond, CA — 3,215 — 3,215 3,215 — 3,215 — 2016 Renewable Power Generation Rosamond, CA — 41,506 — 41,506 41,506 — 41,506 — 2016 Renewable Power Generation Rosamond, CA — 14,136 — 14,136 14,136 — 14,136 — 2016 Renewable Power Generation Lemoore, CA — 11,268 — 11,268 11,268 — 11,268 — 2016 Renewable Power Generation Jacksonville, FL — 646 — 646 646 — 646 — 2016 Renewable Power Generation Florence Township, NJ — 2,200 — 2,200 2,200 — 2,200 — 2017 Wireless Communication Appleton, WI — 594 — 594 594 — 594 — 2017 Outdoor Advertising Glasgow, UK — 3,903 — 3,903 3,903 — 3,903 — 2017 Outdoor Advertising Salford, UK — 273 — 273 273 — 273 — 2017 Wireless Communication Encounter Bay, South Australia — 253 — 253 253 — 253 — 2017 Outdoor Advertising Leeds, UK — 517 — 517 517 — 517 — 2017 Outdoor Advertising Leeds, UK — 2,564 — 2,564 2,564 — 2,564 — 2017 Outdoor Advertising London, UK — 3,318 — 3,318 3,318 — 3,318 — 2017 Renewable Power Generation Pemberton, NJ — 1,092 — 1,092 1,092 — 1,092 — 2017 Outdoor Advertising Liverpool, UK — 671 — 671 671 — 671 — 2017 Outdoor Advertising Barnet, UK — 497 — 497 497 — 497 — 2017 Outdoor Advertising Bristol, UK — 5,752 — 5,752 5,752 — 5,752 — 2017 Wireless Communication Austin, TX — 745 3,701 4,446 745 3,701 4,446 (189 ) 2017 Wireless Communication Charlotte, NC — 106 394 500 106 394 500 (20 ) 2017 Wireless Communication Mars Hill, NC — 117 — 117 117 — 117 — 2017 Renewable Power Generation Ringoes, NJ — 2,113 — 2,113 2,113 — 2,113 — 2017 Renewable Power Generation Tehachapi, CA — — 1,060 1,060 — 1,060 1,060 (64 ) 2017 Outdoor Advertising Orlando, FL — 179 — 179 179 — 179 — 2018 Outdoor Advertising Boston, MA — 480 — 480 480 — 480 — 2018 Outdoor Advertising Dallas, TX — 455 — 455 455 — 455 — 2018 Outdoor Advertising Lithonia, GA — 184 — 184 184 — 184 — 2018 Outdoor Advertising Tampa, FL — 248 — 248 248 — 248 — 2018 Outdoor Advertising Manchester, UK — 176 — 176 176 — 176 — 2018 Outdoor Advertising Wallangarra,Queensland — 24 — 24 24 — 24 — 2018 Outdoor Advertising Capalaba, Queensland — 470 — 470 470 — 470 — 2018 Outdoor Advertising Liverpool, UK — 121 — 121 121 — 121 — 2018 Outdoor Advertising Edinburgh, UK — 272 — 272 272 — 272 — 2018 Outdoor Advertising Cardiff, UK — 3,252 — 3,252 3,252 — 3,252 — 2018 Outdoor Advertising Manchester, UK — 70 — 70 70 — 70 — 2018 Outdoor Advertising Barrow-in-Furness, UK — 87 — 87 87 — 87 — 2018 Outdoor Advertising Milsons Point, New South Wales — 3,502 — 3,502 3,502 — 3,502 — 2018 Outdoor Advertising Stockton-On-Tees, UK — 47 — 47 47 — 47 — 2018 Outdoor Advertising Brighton, MI — 64 — 64 64 — 64 — 2018 Wireless Communication Omaha, NE — 2,660 11,895 14,555 2,660 11,895 14,555 (533 ) 2018 Wireless Communication Hartland, WI — 1,250 18,110 19,360 1,250 18,110 19,360 (696 ) 2018 Wireless Communication Wiley Park, New South Wales — 335 — 335 335 — 335 — 2018 Outdoor Advertising Birkenhead, UK — 17 — 17 17 — 17 — 2018 Outdoor Advertising Birmingham, UK — 18 — 18 18 — 18 — 2018 Outdoor Advertising Glasgow, UK — 157 — 157 157 — 157 — 2018 Outdoor Advertising Barrhead, UK — 20 — 20 20 — 20 — 2018 Outdoor Advertising Manchester, UK — 47 — 47 47 — 47 — 2018 Outdoor Advertising Stretford, UK — 27 — 27 27 — 27 — 2018 Outdoor Advertising Barnsley, UK — 111 — 111 111 — 111 — 2018 Wireless Communication Franklin, MA — 1,440 — 1,440 1,440 — 1,440 — 2018 Outdoor Advertising London, UK — 1 — 1 1 — 1 — 2018 Outdoor Advertising Consett, UK — 20 — 20 20 — 20 — 2019 Outdoor Advertising Birmingham, UK — 115 — 115 115 — 115 — 2019 Outdoor Advertising Glasgow, UK — 107 — 107 107 — 107 — 2019 Outdoor Advertising Glasgow, UK — 114 — 114 114 — 114 — 2019 Outdoor Advertising Glasgow, UK — 121 — 121 121 — 121 — 2019 Outdoor Advertising Glasgow, UK — 80 — 80 80 — 80 — 2019 Outdoor Advertising Airdrie, UK — 105 — 105 105 — 105 — 2019 Outdoor Advertising New Stevenson, UK — 108 — 108 108 — 108 — 2019 Outdoor Advertising Paisley, UK — 258 — 258 258 — 258 — 2019 Outdoor Advertising Falkirk, UK — 191 — 191 191 — 191 — 2019 Outdoor Advertising Falkirk, UK — 76 — 76 76 — 76 — 2019 Outdoor Advertising Edinburgh, UK — 114 — 114 114 — 114 — 2019 Outdoor Advertising Greenock, UK — 153 — 153 153 — 153 — 2019 Outdoor Advertising Glasgow, UK — 305 — 305 305 — 305 — 2019 Outdoor Advertising Edinburgh, UK — 68 — 68 68 — 68 — 2019 Outdoor Advertising Paisley, UK — 110 — 110 110 — 110 — 2019 Outdoor Advertising Glasgow, UK — 107 — 107 107 — 107 — 2019 Outdoor Advertising Manchester, UK — 4,912 — 4,912 4,912 — 4,912 — 2019 Outdoor Advertising Dublin, Ireland — 425 — 425 425 — 425 — 2019 Outdoor Advertising Limerick, Ireland — 72 — 72 72 — 72 — 2019 Outdoor Advertising Dundalk, Ireland — 56 — 56 56 — 56 — 2019 Outdoor Advertising Dublin, Ireland — 636 — 636 636 — 636 — 2019 Renewable Power Generation Rockwell, North Carolina — 469 — 469 469 — 469 — 2019 Renewable Power Generation Trinity, North Carolina — 482 — 482 482 — 482 — 2019 Outdoor Advertising Coatbridge, UK — 138 — 138 138 — 138 — 2019 Wireless Communication Marlborough, Massachusetts — 1,420 8,726 10,146 1,420 8,726 10,146 (63 ) 2019 Wireless Communication Marlborough, Massachusetts — 1,712 7,942 9,654 1,712 7,942 9,654 (59 ) 2019 Outdoor Advertising Wakefield, UK — 77 — 77 77 — 77 — 2019 Outdoor Advertising Slaithwaite, UK — 78 — 78 78 — 78 — 2019 Outdoor Advertising Glasgow, UK — 79 — 79 79 — 79 — 2019 Outdoor Advertising London, UK — 18 — 18 18 — 18 — 2019 Outdoor Advertising Coventry, UK — 18 — 18 18 — 18 — 2019 Outdoor Advertising Maesteg, UK — 20 — 20 20 — 20 — 2019 Total $ — $ 141,851 $ 51,828 $ 193,679 $ 141,851 $ 51,828 $ 193,679 $ (1,624 ) (1) The aggregate cost of real estate for federal income tax purposes is $292.1 million (unaudited). (2) The Partnership computes depreciation using the straight-line method over 40 years for building and a weighted average of 8 years for improvements. A summary of activity for real estate and accumulated depreciation follows (in thousands): Year Ended December 31, 2019 2018 2017 Real estate: Balances at beginning of year $ 163,461 $ 119,539 $ 88,845 Acquisitions of real estate 58,088 52,290 30,305 Sales and transfers to assets held for sale (28,624 ) (7,044 ) — Other (1) 754 (1,324 ) 389 Balances at end of year $ 193,679 $ 163,461 $ 119,539 Accumulated depreciation: Balances at beginning of year $ 623 $ 13 $ — Depreciation expense 1,001 681 13 Sales and transfers to assets held for sale — (71 ) — Balances at end of year $ 1,624 $ 623 $ 13 (1) Represents impact of foreign exchange translation.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 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 During the years ended December 31, 2018 and 2017, the Partnership completed one and four drop-down acquisitions of 127 and 155 tenant sites and related real property interests, respectively, and zero and two investment in receivables, respectively, from the Sponsor and affiliates in exchange for total consideration of $59.9 million and $118.3 million, respectively (the “Drop-down Acquisitions” or “Drop-down Assets”). There were no Drop-down Acquisitions during the year ended December 31, 2019. In accordance with the adoption of ASU No. 2017-01, drop-down acquisitions no longer meet the definition of a business and do not require to be retroactively adjusted. As such, drop-down acquisitions from the Sponsor and affiliates subsequent to March 31, 2017 are accounted for prospectively as transfers of net assets 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 is allocated to the General Partner. 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 consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany transactions and account balances have been eliminated. Management believes that the assumptions and estimates used in the preparation of the underlying consolidated financial statements are reasonable. However, the consolidated financial statements herein do not necessarily reflect what the Partnership’s financial position, results of operations, comprehensive income or cash flows would have been if the Partnership had been a stand-alone entity during the periods presented. As a result, historical financial information is not necessarily indicative of the Partnership’s future results of operations, comprehensive income, financial position or cash flows. All references to tenant sites are unaudited.
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.
Purchase Accounting for Acquisitions	Purchase Accounting for Acquisitions The Partnership applies the business combination or asset acquisition method to all acquired investments of real property interests for transactions that meet the definition of a business combination or asset acquisition based on the revised framework for determining whether an integrated set of assets meets the definition of a business. The purchase consideration for the real property interests is allocated to the acquired tangible assets, such as land, and the identified intangible assets and liabilities, consisting of the value of perpetual and limited life easements, above-market and below-market leases and in-place leases, based in each case on their fair values. The fair value of the assets acquired and liabilities assumed is typically determined by using the discounted cash flow valuation method using discount rates ranging between 6% and 20%. When determining the fair value of intangible assets acquired, the Partnership estimates the applicable discount rate and the timing and amount of future cash flows. For acquisitions of a business, the determination of the final purchase price allocation and the acquisition-date fair value of identifiable assets acquired and liabilities assumed may extend over more than one period, but no later than 12 months from the acquisition date and result in adjustments to the preliminary estimates recognized in the prior period financial statements. Transaction costs related to the acquisition of a business, including investments in real property interests, are expensed as incurred. Transaction costs related to asset acquisitions are capitalized. Factors considered in estimating the fair value of tangible and intangible assets acquired include information obtained about each asset as a result of Landmark’s pre-acquisition due diligence and its marketing and leasing activities. In order to calculate the estimated in-place lease value, we employed the income approach in accordance with ASC 805 by multiplying the anticipated market absorption period by the market rent at the time of acquisition for each in-place lease agreement. Based on our experience in the industry, we have determined a range of lease execution timelines to be between one and twelve months. For the in-place lease valuation, we consider a lease-up period of four to eight months to be representative of the market. We estimated the fair value of real property interests using the income approach. The discount rates used ranged from 6% to 20%. The value of tenant relationships has not been separated from in-place tenant lease value for the real estate acquired as such value and its consequence to amortization expense is materially consistent with the in-place tenant lease value for these particular acquisitions. Should future acquisitions of real property interests result in allocating material amounts to the value of tenant relationships, an amount would be separately allocated and amortized over the estimated life of the relationship. The value of in-place leases and customer relationship is amortized to expense over the estimated period the tenant is expected to be leasing the site under the existing terms which typically range from 2 to 20 years. If a tenant lease were to be terminated prior to its stated expiration, all unamortized amounts relating to that lease would be impaired. The discount rate associated with each asset varies based on the location of an asset (including demographics and zoning restrictions), and other asset specific characteristics. Market rent for each asset is determined based on location of each asset, asset type, zoning restrictions, ground space necessary for the tenant’s equipment, remaining site capacity, visibility (specifically for billboards), and nearby sites. In allocating the purchase consideration of the identified intangible assets and liabilities of an acquired asset, above-market, below-market and in-place lease values are calculated based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases measured over the estimated period the tenant is expected to be leasing the site under the above or below-market terms. The capitalized above-market and below-market lease values are amortized as a decrease or increase, respectively, to rental income over the estimated period the tenant is expected to be leasing the site. All tenant leases obtained by the Partnership through its acquisition of real property interests are generally cancellable, upon 30 to 180 days’ notice by the tenants, with no significant penalty. With respect to below-market leases, consideration is given to any below-market renewal periods. However, for wireless communication assets, we estimated the above/below-market lease value over an analysis period of the earlier of the lease expiration or 10 years based on estimated useful life of the underlying equipment and assets. For outdoor advertising assets, we estimated the above- or below-market lease value over an analysis period of the earlier of the lease expiration or 20 years, based on a longer estimated useful life of 20 years for billboards.
Real Property Interests and Amortization	Real Property Interests and Amortization Real property interests consist primarily of land, easements and lease assignments underlying wireless communication, outdoor advertising and renewable power generation infrastructure. The real property interests are typically held as ownership of land or easements to use land, or roof tops, both of which allow us to use the asset for a specific purpose. Real property interests, excluding land, are intangibles that are recorded at cost. Amortization is computed using the straight-line method over the estimated useful lives of the real property interests, which is estimated as the shorter of the revenue generating period of the asset or the term of the real estate rights which range from 12 to 99 years. Real property interests with a perpetual term are not amortized but evaluated periodically for impairment. The Partnership assesses whether there has been an impairment in the value of long-lived assets whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount to the future estimated net cash flows, undiscounted and without interest, expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets based upon what a market participant would be willing to pay for the real estate interest. The estimated fair value of the asset group identified for step two testing is based on either Level 3 inputs utilizing the income approach with a market discount rate and estimated cash flows, or Level 2 inputs based upon the sales comparison approach to a similar asset. Assets to be disposed of are reported at the lower of the carrying amount or fair value, less costs to sell utilizing the Level 3 and Level 2 inputs discussed below. Concurrent with the Partnership’s adoption of ASU No. 2016-02 on January 1, 2019, the Partnership has elected to recognize expense associated with short-term leases (those with a non-cancellable lease term of 12 months or less) under which the Partnership is the lessee on a straight-line basis and not recognize those leases on its consolidated balance sheets. For leases other than short-term operating and finance leases under which the Partnership is the lessee, such as ground leases, the Partnership recognizes a right-of-use asset and related lease liability on its consolidated balance sheet at inception of the lease based on the present value of the remaining minimum rental payments using each respective lease term and a corresponding incremental borrowing rate. Operating lease assets are included in right of use, net and finance lease assets are included in real property interests in the consolidated balance sheets.
Development Operations	Development Operations The Partnership capitalizes direct construction and development costs, including pre-development costs, interest, and other costs directly related and essential to the development or construction of an asset. The Partnership capitalizes construction and development costs while substantive activities are ongoing to prepare an asset for its intended use. Fluctuations in our development, pre-construction, and construction activities could result in significant changes to expenses and net income. Costs incurred after a project is substantially complete and ready for its intended use are expensed as incurred. Should development, pre-construction, or construction activity cease, interest and certain other costs would no longer be eligible for capitalization and would be expensed as incurred. Expenditures for repairs and maintenance are expensed as incurred. The Partnership computes depreciation on assets placed in service and improvements using the straight-line method over the assets’ estimated useful lives. Development projects and other similar contracts are assessed to determine whether it continues to meet our investment return standards. Assessments are made separately for each project on a quarterly basis and are affected by the following factors relative to the market in which the asset is located, among others: estimated development and construction costs and projected profitability. When a decision is made to cease construction on certain projects due to market conditions and/or fluctuations in our development strategy, we write off the related capitalized costs, including pre-construction costs. During the year ended December 31, 2019, the Partnership ceased construction on a certain development project and recognized impairment charges of $1.6 million including a write off of $0.1 million in capitalized interest.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The standard establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable input be used when available. Observable inputs are inputs that the market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the Partnership. Unobservable inputs are inputs that reflect the Partnership’s assumptions about what market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is measured in three levels based on the reliability of inputs: Level 1 – unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2 – 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; and, Level 3 – prices or valuations derived from other valuation methodologies where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable, including pricing models, discounted cash flow models and similar techniques.
Cash and Cash Equivalents	Cash and Cash Equivalents All highly liquid investments with a maturity of three months or less when purchased are considered to be cash and cash equivalents. The Partnership monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Partnership has experienced no loss or lack of access to cash in the operating accounts.
Restricted Cash	Restricted Cash Restricted cash primarily consists of amounts pledged as collateral to secure obligations. As of December 31, 2019 and 2018, the amount of restricted cash was $5.6 million and $3.7 million. See Note 9, Debt
Accounting for Derivative Financial Instruments and Hedging Activities	Accounting for Derivative Financial Instruments and Hedging Activities The Partnership utilizes interest rate swap contracts to manage interest costs and risks associated with changing interest rates. These derivative financial instruments are carried at fair value on the consolidated balance sheets, with the change in such fair value being recorded through earnings as an unrealized gain or loss in the consolidated statements of operations.
Investments in Receivables, Net	Investments in Receivables, Net The Partnership acquired streams of future cash flows associated with real property interests and certain lease arrangements that meet the definition of a financial asset within the wireless communication, outdoor advertising and renewable power generation industries. For certain investments in receivables, the Partnership has no significant rights or obligations associated with the cash flows other than in certain arrangements, to pass a portion of the cash flows received to the owner of the respective lease. 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. Receivables are classified as held-for-investment based on management’s intent and ability to hold the receivables for the foreseeable future or to maturity. Receivables held-for-investment are carried at amortized cost and are reduced by a valuation allowance for estimated credit losses as necessary. Interest on receivables is accreted to income over the life of the receivables using the interest method. The interest method is applied on an individual receivable basis when collectability of the future payments, when due in accordance with the contractual terms of the arrangement, is reasonably assured. Receivables are transferred from held-for-investment to held-for-sale when management no longer intends to hold the receivables for the foreseeable future. Receivables held-for-sale are recorded at the lower of cost or fair value. Receivables are placed on non-accrual status when management determines that the collectability of contractual amounts is not reasonably assured. While on non-accrual status, receivables are either accounted for on a cash basis, in which income is recognized only upon receipt of cash, or on a cost-recovery basis, where cash receipts reduce the carrying value of the receivable, based on management’s expectation of future collectability. Allowances are established for receivables based upon an estimate of probable losses on an individual receivable by receivable basis if they are determined to be impaired. Receivables are impaired when it is deemed probable that the Partnership will be unable to collect all amounts when due in accordance with the contractual terms of the loan. An allowance is based upon the Partnership’s assessment of the borrower’s overall financial condition, economic resources, payment record, the prospects for support from any financially responsible guarantors and, if appropriate, the net realizable value of any collateral. These estimates consider all available evidence including the expected future cash flows discounted at the receivable’s effective interest rate, fair value of collateral, general economic conditions and trends, historical and industry loss experience and other relevant factors, as appropriate. On a regular basis, the Partnership assesses investments in receivables for impairment. Internally generated cash flow projections are used to determine if the receivables are expected to be repaid in accordance with the terms of the related agreements. If it is probable that a receivable will not be repaid in accordance with the related agreement, the receivable is deemed impaired. To measure impairment, the present value of the expected future cash flows discounted is calculated using the original effective interest rate. If the present value is less than the carrying value of the receivable, a specific impairment reserve is recorded for the difference. For the year ended December 31, 2018, the Partnership impaired 16 of its investments in receivables and recognized impairment charges totaling $0.8 million. The investments in receivables were impaired to their net realizable value. There was no impairment of investments in receivables during the years ended December 31, 2019 and 2017.
Investment in Unconsolidated Joint Venture	Investment in Unconsolidated Joint Venture The Partnership accounts for its investment in an unconsolidated joint venture using the equity method of accounting. Under the equity method, the investment is initially recorded at fair value and subsequently adjusted for distributions and the Partnership’s proportionate share of equity in the joint venture’s income (loss). The Partnership recognizes its proportionate share of the ongoing income or loss of the unconsolidated joint venture as equity income (loss) from unconsolidated joint venture on the consolidated statements of operations. On a quarterly basis, the Partnership evaluates its investment in an unconsolidated joint venture for other-than-temporary impairments. The Partnership elected as an accounting policy to reflect unconsolidated joint venture distributions in the consolidated statements of cash flows using the nature of the distribution approach. Accordingly, the net proceeds were classified as return on investment in unconsolidated joint venture within the operating activities section of the consolidated statements of cash flows for the year ended December 31, 2019.
Deferred Loan Costs	Deferred Loan Costs Costs incurred associated with the revolving credit facility are capitalized as deferred loan costs and are included in deferred loan costs, net in the consolidated balance sheets in accordance with ASU 2015-15, Interest – Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. Costs incurred in obtaining the secured debt facilities are deducted from the carrying amount of the debt liabilities and deferred loan costs are amortized to interest expense over the life of the related loan. When facilities are amended and restated that result in an of extinguishment of debt, any unamortized deferred loan costs, as well as charges incurred for the termination, are recorded to interest expense in the period of the amendment and restatement.
Revenue Recognition	Revenue Recognition The Partnership recognizes rental income under operating leases, including rental abatements, lease incentives and contractual fixed increases, if any, from tenants under lease arrangements with minimum fixed and determinable increases on a straight-line basis over the non-cancellable term of the related leases when collectability is reasonably assured. The excess of rents recognized over amounts contractually due pursuant to the underlying leases are recorded as deferred rent assets. The excess of rent payments collected over amounts recognized contractually due pursuant to the underlying lease are recorded as prepaid rents. For the years ended December 31, 2019, 2018, and 2017, leases obtained by the Partnership through its acquisition and ownership of real property interests in the wireless communication industry and the outdoor advertising industry were generally cancelable upon 30 - 180 days’ notice by the tenants with no significant penalty. The Partnership evaluates whether the lease arrangements economically compel the tenant to not cancel the lease in determining the term of the lease by considering various factors such as cancellation rights, availability of alternative sites, and historical cancellation rates. For cancellable leases where the tenant is not economically compelled to continue the lease, the term of the lease is considered to be the non-cancellable period with rental abatements and contractual fixed rate increases recorded in the period the amounts become due and payable. Leases obtained through development projects, are generally non‑cancellable for the initial term. • Wireless Communication – As a result of various factors, including the cancellation rights, ability to find alternative sites, credit risk, and historical cancellation and lease amendment rates, the lease term is generally considered to be the non-cancellable term of the lease of 30 to 180 days. For these leases, rental abatements and contractual fixed increases are recorded in the period the amounts become due and payable. • Outdoor Advertising and Renewable Power Generation – The lease term is generally considered to be the non-cancellable term of the remaining portion of the existing term of the lease. The capitalized above-market and below-market lease values are amortized as a decrease or increase, respectively, to rental income over the estimated period the tenant is expected to be leasing the site. Certain leases provide for the greater of a minimum rent or a percentage of the revenue generated by the tenant (“Contingent Rent”). Contingent rent is recognized when measurable and all possible contingencies have been eliminated. During the years ended December 31, 2019, 2018, and 2017, the Partnership recognized $1.6 million, $1.2 million and $1.0 million of Contingent Rent, respectively.
Rents Receivable, net	Rents Receivable, net Rents receivables consists of tenant receivables arising in the normal course of business. Tenant receivables are uncollateralized customer obligations requiring payment within various time frames not to exceed one year from the invoice date. If the Partnership determines that collectability of lease payments is not probable, the rent receivable balance is written off and recognized as a decrease in revenue in that period and future revenue recognition is limited to amounts contractually owed and paid.
Income Taxes	Income Taxes The Partnership is generally not subject to federal, state or local income taxes, except for our subsidiary Landmark Infrastructure Asset OpCo LLC (“Asset OpCo”) and our foreign subsidiaries. Asset OpCo conducts certain activities that may not generate qualifying income and will be treated as a corporation for U.S. federal income tax purposes. Each limited partner is responsible for the tax liability, if any, related to its proportionate share of the Partnerships’ taxable income or loss. Asset OpCo and certain consolidated foreign subsidiaries of the Partnership conduct certain activities in international locations that generate taxable income and will be treated as taxable entities. Additionally, our consolidated REIT subsidiary, Landmark Infrastructure Inc., a Delaware corporation, files as a corporation for U.S. federal income tax purposes. The REIT Subsidiary has elected to be treated as a REIT and we believe that it has operated in a manner that has allowed the REIT Subsidiary to qualify as a REIT for federal income tax purposes, and the REIT Subsidiary intends to continue operating in such manner. If the REIT Subsidiary fails to qualify as a REIT in any taxable year, and is unable to avail itself of certain savings provisions, all of its taxable income would be subject to federal income tax at regular corporate rates. The Partnership may also be subject to various non-income taxes, filing fees, and franchise taxes in various states that are reflected in operating expenses. The Partnership follows the requirements of ASC Topic 740, Income Taxes
Foreign Currency Translation and Transactions	Foreign Currency Translation Assets and liabilities denominated in foreign currencies that are translated into U.S. dollars use exchange rates in effect at the end of the period, and revenues and expenses denominated in foreign currencies that are translated into U.S. dollars use average rates of exchange in effect during the related period. Gains and losses resulting from translation adjustments are included in accumulated other comprehensive income (loss). Foreign Currency Transactions
Risk Management	Risk Management The Partnership is subject to risks incidental to the ownership and investment in real property interests. These risks and uncertainties include the competitive environment in which the Partnership operates – local, regional, and national economic conditions, including consumer confidence, employment rates, and the availability of capital; uncertainties and fluctuations in capital and securities markets; the cyclical and competitive nature of the real estate industry; changes in tax laws and their interpretation; legal proceedings; effect of restrictive covenants in the loan agreements; and the effects of governmental regulation. In the normal course of business, the Partnership encounters economic risk, including interest rate risk, currency risk, credit risk, and market risk. Interest rate risk is the result of movements in the underlying variable component of financing rates. Credit risk is the risk of default that results from an underlying tenant/borrower’s inability or unwillingness to make contractually required payments. Market risk reflects changes in the valuation of real property interests and investments in receivables held by the Partnership.
Concentration of Credit Risk	Concentration of Credit Risk The Partnership’s credit risk relates primarily to rent receivables, investments in receivables, cash and interest rate swap agreements. Cash accounts at each U.S. institution are insured by the Federal Deposit Insurance Corporation up to $250,000. The Partnership has not experienced any losses to date on invested cash. Credit risk associated with interest rate swap agreements arises from the potential failure of counterparties to perform in accordance with the terms of their contracts. The Partnership’s risk management policies define parameters of acceptable market risk and limit exposure to credit risk. Credit exposure resulting from derivative financial instruments is considered in their fair value amounts, among other factors such as the potential adverse position exposure arising from changes over time in interest rates, maturities, and other relevant factors. The Partnership does not anticipate nonperformance by any of its counterparties. The Partnership’s real property interests are primarily located throughout the United States. The ability of the tenants to honor the terms of their respective leases is dependent upon the economic, regulatory, and social factors affecting the communities in which the tenants operate. In certain instances, the Partnership’s position in the real property interest may be subordinate to a mortgage lender on the real property.
Business Segments	Business Segments The FASB accounting guidance with regard to disclosures about segments of an enterprise and related information establishes standards for the manner in which public business enterprises report information about operating segments. The Partnership has three reportable segments, wireless communication, outdoor advertising, and renewable power generation for all periods presented.
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 expected to not have any material impact on its combined 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 will adopt the guidance in the first quarter of its fiscal 2020 utilizing the cumulative-effect adjustment to retained earnings as of the effective date. 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 not to 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 costs 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 not to 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 date of acquisition. 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 operating and finance 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 operating 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 December 31, 2019, the weighted-average remaining lease term of operating leases and finance leases is approximately 22 years and 29 years, respectively. As of December 31, 2019, operating lease assets were included in right of use, net and finance lease assets were included in real property interests in the Consolidated Balance Sheets. The following table illustrates information about other lease related balances as of December 31, 2019 (in thousands): Operating leases: Right-of-use asset $ 11,358 Operating lease liability 10,268 Finance leases: Right-of-use asset (1) $ 19,595 Finance lease liability 908 (1) Assets held under finance leases are recorded in Real property interests and are depreciated over the lease term. The following table represents the future minimum ground lease payments as of December 31, 2019 (in thousands). Operating Lease Finance Lease 2020 $ 681 $ 56 2021 690 56 2022 700 56 2023 714 56 2024 724 56 Thereafter 14,314 1,350 Total future payments 17,823 1,630 Discount (7,555 ) (722 ) Total lease liability $ 10,268 $ 908

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2019
Basis Of Presentation And Summary Of Significant Accounting Policies [Abstract]
Summary of Information about Other Lease Related Balances	The following table illustrates information about other lease related balances as of December 31, 2019 (in thousands): Operating leases: Right-of-use asset $ 11,358 Operating lease liability 10,268 Finance leases: Right-of-use asset (1) $ 19,595 Finance lease liability 908 (1) Assets held under finance leases are recorded in Real property interests and are depreciated over the lease term.
Schedule of Future Minimum Ground Lease Payments	The following table represents the future minimum ground lease payments as of December 31, 2019 (in thousands). Operating Lease Finance Lease 2020 $ 681 $ 56 2021 690 56 2022 700 56 2023 714 56 2024 724 56 Thereafter 14,314 1,350 Total future payments 17,823 1,630 Discount (7,555 ) (722 ) Total lease liability $ 10,268 $ 908

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2019
Drop-down Acquisitions
Business Acquisition [Line Items]
Schedule of Acquisitions	The following table presents the Drop-down Acquisitions completed by the Partnership: Number of Tenant Sites Consideration (in millions) Renewable Investments Borrowings Wireless Outdoor Power in and Available Common Acquisition Date Source Communication Advertising Generation Total Receivables Cash 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 December 20, 2017 Sponsor 23 5 1 29 — $ 17.6 $ — $ 17.6 September 28, 2017 Sponsor 39 10 — 49 — 33.3 — 33.3 September 8, 2017 Sponsor (1) — — 1 1 — 1.6 — 1.6 July 28, 2017 Sponsor 30 1 1 32 2 22.0 — 22.0 June 8, 2017 Sponsor (1) 30 9 2 41 — 24.7 — 24.7 April 28, 2017 Sponsor (2) — 1 — 1 — 4.3 — 4.3 April 28, 2017 Fund G (2) — 1 — 1 — 3.8 3.5 7.3 March 31, 2017 Fund G (2) — 1 — 1 — 7.5 — 7.5 2017 Acquisitions 122 28 5 155 2 $ 114.8 $ 3.5 $ 118.3 (1) In connection with the June 8, 2017 drop-down acquisition from our Sponsor, the Partnership entered into a contractual obligation to acquire one tenant site and related real property interest. On September 8, 2017, the Partnership completed the acquisition for cash consideration of $1.6 million. (2) In connection with the August 30, 2016 Fund G drop-down acquisition, the Partnership entered into a contractual obligation to acquire two tenant sites and related real property interests. The Partnership acquired one of these tenant sites and related real property interests on March 31, 2017 for cash consideration of $7.5 million and the remaining tenant site for $3.8 million on April 28, 2017. Upon completion of the full $11.3 million acquisition, the Partnership issued 221,729 Common Units to Fund G on April 28, 2017. Additionally, in connection with the December 22, 2016 drop-down acquisition, the Partnership entered into a contractual obligation to acquire one tenant site and related real property interest. On April 28, 2017 the Partnership completed the acquisition for cash consideration of approximately $3.7 million to the property owner and $0.6 million to Landmark as additional consideration.
Third Party Acquisitions
Business Acquisition [Line Items]
Schedule of Acquisitions	The following table presents direct third-party acquisitions completed by the Partnership: No. of Tenant Sites Consideration (in millions) Renewable Borrowings Wireless Outdoor Power Investments and Available Common Acquisition Description Communication Advertising Generation Total in Receivables Cash 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 Fourth Quarter International 1 13 — 14 — $ 10.5 $ — $ 10.5 Domestic 2 — — 2 — 24.3 — 24.3 Total 3 13 — 16 — $ 34.8 $ — $ 34.8 2019 Total 4 134 8 146 — $ 52.0 $ — $ 52.0 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 First Quarter International 3 4 — 7 — $ 3.6 $ — $ 3.6 UEP 1 — — 1 — — 0.1 0.1 Domestic 5 3 — 8 — 1.2 — 1.2 Total 9 7 — 16 — $ 4.8 $ 0.1 $ 4.9 Second Quarter International 2 4 — 6 1 $ 9.0 $ — $ 9.0 UEP 3 1 — 4 — — 1.0 1.0 Domestic 1 — — 1 — 0.5 — 0.5 Total 6 5 — 11 1 $ 9.5 $ 1.0 $ 10.5 Third Quarter International — 2 — 2 — $ 4.1 $ — $ 4.1 Domestic 3 — — 3 — 0.8 — 0.8 Total 3 2 — 5 — $ 4.9 $ — $ 4.9 Fourth Quarter International — 3 — 3 — $ 11.5 $ — $ 11.5 UEP 3 4 — 7 — — 2.7 2.7 Domestic 14 5 2 21 — 6.5 — 6.5 Total 17 12 2 31 — $ 18.0 $ 2.7 $ 20.7 2017 Total 35 26 2 63 1 $ 37.2 $ 3.8 $ 41.0

Real Property Interests (Tables

Real Property Interests (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Summary of the Partnership's Real Property Interests	The following summarizes the Partnership’s real property interests (in thousands): December 31, 2019 2018 Land $ 141,851 $ 128,302 Real property interests – perpetual 100,810 101,343 Real property interests – finite life 422,923 416,080 Real property interests – ROU asset finance lease 19,595 — Construction in progress 68,907 29,556 Total land and real property interests 754,086 675,281 Accumulated amortization of real property interests (50,015 ) (39,069 ) Land and net real property interests $ 704,071 $ 636,212
Schedule of Allocation of Estimated Fair Values of the Assets Acquired and Liabilities Assumed	The following table summarizes final allocations for acquisitions made during the years ended December 31, 2019, 2018, and 2017 of estimated fair values of the assets acquired and liabilities assumed (in thousands). Investments in real In-place lease Above-market Below-market ROU Lease Period Land property interests intangibles lease intangibles lease intangibles Assets Liability Total 2019 $ 11,813 $ 17,154 $ 5,730 $ 86 $ (113 ) $ 21,570 $ (1,640 ) $ 54,600 2018 16,646 91,314 7,939 1,309 (2,031 ) — — 115,177 2017 25,151 107,195 3,781 976 (1,850 ) — — 135,253
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 December 31, 2019, are as follows (in thousands): 2020 $ 12,166 2021 11,693 2022 11,329 2023 11,237 2024 11,142 Thereafter 334,936 Total $ 392,503
Schedule of Carrying Amounts of Major Classes of Assets and Liabilities Held for Sale	The carrying amounts of the major classes of assets and liabilities that were classified as held for sale are as follows (in thousands): December 31, 2019 2018 Land $ 421 $ 1,286 Real property interests, net — 5,566 Other intangible assets, net — 994 AHFS $ 421 $ 7,846 Other intangible liabilities, net $ — $ 397 Liabilities associated with AHFS $ — $ 397

Other Intangible Assets and L_2

Other Intangible Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Other Intangible Assets And Liabilities [Abstract]
Summary of Identifiable Intangible Assets, Including Above/Below Market Lease Intangibles	The following summarizes our identifiable intangible assets, including above/below‑market lease intangibles (in thousands): December 31, 2019 2018 Acquired in-place lease Gross amount $ 28,908 $ 23,261 Accumulated amortization (8,142 ) (6,237 ) Net amount $ 20,766 $ 17,024 Acquired above-market leases Gross amount $ 6,627 $ 6,542 Accumulated amortization (3,427 ) (2,727 ) Net amount $ 3,200 $ 3,815 Total other intangible assets, net $ 23,966 $ 20,839 Acquired below-market leases Gross amount $ (16,817 ) $ (17,097 ) Accumulated amortization 9,211 7,806 Total other intangible liabilities, net $ (7,606 ) $ (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 December 31, 2019 follows (in thousands): Acquired Acquired Acquired in-place above-market below-market leases leases leases 2020 $ 1,748 $ 543 $ (1,517 ) 2021 1,681 432 (1,379 ) 2022 1,585 351 (1,256 ) 2023 1,291 314 (813 ) 2024 1,177 292 (723 ) Thereafter 13,284 1,268 (1,918 ) Total $ 20,766 $ 3,200 $ (7,606 )

Future Minimum Rents (Tables)

Future Minimum Rents (Tables)	12 Months Ended
	Dec. 31, 2019
Lessor Disclosure [Abstract]
Future minimum receipts from tenants	At December 31, 2019, future minimum receipts from tenants on leases with non‑cancellable terms, including cancellable leases where the tenant is economically compelled to extend the lease term, for each of the next five years and thereafter are as follows (in thousands): 2020 $ 17,992 2021 17,798 2022 17,638 2023 16,531 2024 14,823 Thereafter 45,534 Total $ 130,316

Investments in Receivables (Tab

Investments in Receivables (Tables)	12 Months Ended
	Dec. 31, 2019
Notes Receivable Net [Abstract]
Activity in investments in receivables	The following table reflects the activity in investments in receivables (in thousands): Year Ended December 31, 2019 2018 Investments in receivables – beginning $ 18,348 $ 20,782 Impairments — (785 ) Sales (8,331 ) (350 ) Other (742 ) — Repayments (564 ) (1,108 ) Interest accretion 9 3 Foreign currency translation adjustment 102 (194 ) Investments in receivables – ending $ 8,822 $ 18,348
Annual amounts due	Annual amounts due as of December 31, 2019, are as follows (in thousands): 2020 $ 1,297 2021 1,345 2022 1,463 2023 1,570 2024 1,631 Thereafter 10,005 Total $ 17,311 Interest $ 8,489 Principal 8,822 Total $ 17,311

Investment in Unconsolidated _2

Investment in Unconsolidated Joint Venture (Tables)	12 Months Ended
	Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
Summary of Partnership Contribution of Assets and Liabilities at Cost to JV	The following table summarizes the Partnership’s contribution of assets and liabilities, at cost, to the unconsolidated JV as of the date of the Transaction (in thousands): Assets Cash, cash equivalents and restricted cash $ 1,549 Real property interests, net 153,028 Other intangible assets, net 2,468 Total assets $ 157,045 Liabilities Secured notes $ 122,084 Other intangible liabilities, net 3,046 Other liabilities 758 Total liabilities $ 125,888 Net equity contributed to the unconsolidated joint venture $ 31,157
Summary of Partnership Gain on Contribution of Real Property Interests to JV	The following table summarizes the Partnership’s gain on the contribution of real property interests to the unconsolidated JV as of the date of the Transaction (in thousands): Investment in unconsolidated joint venture $ 65,611 Proceeds from sale of real property interests 65,585 Less: Net equity contributed to the unconsolidated joint venture (31,157 ) Gain on sale of real property interests $ 100,039
Summary of Balance Sheet Information for Unconsolidated JV	The following table summarizes balance sheet information for the unconsolidated JV (in thousands): December 31, 2019 2018 Total assets $ 255,157 $ 263,228 Total liabilities 127,611 128,448 Total equity 127,546 134,780 Total liabilities and equity $ 255,157 $ 263,228
Summary of Financial Information for Unconsolidated JV	The following table summarizes financial information for the unconsolidated JV (in thousands): Year Ended December 31, 2019 2018 Rental revenue $ 14,245 $ 3,697 Net income 796 117 Partnership's share in net income 398 59 Distributions declared to the Partnership 3,983 —

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Partnership's debt	The following table summarizes the Partnership’s debt (in thousands): Outstanding Balance Maturity Date December 31, 2019 December 31, 2018 Revolving credit facility November 15, 2023 $ 232,907 $ 155,000 4.38% senior secured notes June 30, 2036 $ 39,945 $ 42,058 Series 2017-1 Class A November 15, 2022 (1) 59,124 60,900 Series 2017-1 Class B November 15, 2022 (1) 17,172 17,563 Series 2016-1 Class A June 1, 2021 (2) 82,175 86,258 Series 2016-1 Class B June 1, 2021 (2) 25,100 25,100 Secured Notes $ 223,516 $ 231,879 Discount on Secured Notes (1,081 ) (1,454 ) Deferred loan costs (5,337 ) (6,740 ) Secured Notes, net $ 217,098 $ 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 Debt Service Coverage Ratio	Certain information with respect to the 2017 Securitization and the 2016 Securitization is set forth below. The debt service coverage ratio (“DSCR”) is generally calculated as the ratio of annualized net cash flow (as defined in the applicable indenture) to the amount of interest, servicing fees and trustee fees required to be paid over the succeeding 12 months on the principal amount of the Secured Notes, as applicable, that will be outstanding on the payment date following such date of determination. Conditions Limiting Distributions of Excess Cash Issuer or Borrower Notes Issued Cash Trap DSCR Amortization Period 2017 Securitization LMRK Issuer Co. 2 LLC Series 2017-1 Secured Notes, Class A and Class B 1.30x (1) (2) 2016 Securitization LMRK Issuer Co. LLC Series 2016-1 Secured Notes, Class A and Class B 1.30x (1) (2) (1) Once triggered, a Cash Trap DSCR condition continues to exist until the DSCR exceeds the Cash Trap DSCR for two consecutive calendar months. During a Cash Trap DSCR condition, all cash flow in excess of amounts required to make debt service payments, to fund required reserves, to pay management fees and budgeted operating expenses and to make other payments required under the indenture, referred to as excess cash flow, will be deposited into a reserve account instead of being released to the applicable issuer. (2) An amortization period commences if the DSCR is equal to or below 1.15x (the “Minimum DSCR”) at the end of any calendar month and continues to exist until the DSCR exceeds the Minimum DSCR for two consecutive calendar months.
Schedule of Secured Notes Annual Principal Payment Amounts Due	The Secured Notes’ annual principal payment amounts due as of December 31, 2019, are as follows (in thousands): 2020 $ 10,313 2021 (1)(2) 108,013 2022 72,440 2023 2,714 2024 2,889 Thereafter (1) 27,147 Total $ 223,516 (1) Reflects anticipated repayment dates. (2) In January 2020, the Partnership repaid the outstanding balance of the 2016 Secured Notes.

Interest Rate Swap Agreements (

Interest Rate Swap Agreements (Tables)	12 Months Ended
	Dec. 31, 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 Effective Maturity Fair Value Asset (Liability) at December 31, Entered Value Fixed Rate Index Date Date 2019 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 (264 ) 1,259 March 23, 2016 50,000 1.67 1-month USD LIBOR 12/24/2018 12/24/2021 (113 ) 1,117 March 31, 2016 20,000 1.56 1-month USD LIBOR 12/24/2018 12/24/2021 (4 ) 508 March 31, 2016 25,000 1.63 1-month USD LIBOR 4/13/2019 4/13/2022 (48 ) 569 June 12, 2017 50,000 2.10 1-month USD LIBOR 3/2/2018 9/2/2024 (1,045 ) 1,035 November 15, 2018 £ 38,000 1.49 1-month GBP LIBOR 11/30/2020 11/30/2025 (1,675 ) (402 ) $ (3,149 ) $ 4,188
Table Summarizing Fair Values of Sensitivity Analysis	The following table summarizes the results 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 365 (930 ) 996 (1,594 ) March 23, 2016 12/24/2021 347 (591 ) 807 (1,069 ) March 31, 2016 12/24/2021 181 (194 ) 364 (385 ) March 31, 2016 4/13/2022 220 (326 ) 487 (605 ) June 12, 2017 9/2/2024 (12 ) (2,232 ) 1,056 (3,387 ) November 15, 2018 11/30/2025 (563 ) (3,099 ) 637 (4,439 )

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Schedule of changes in the number of units outstanding	The table below summarizes changes in the numbers of units outstanding for the years ended December 31, 2019, 2018 and 2017 (in units): Mezzanine Equity - Series A Series B Series C Common Subordinated Preferred Preferred Preferred Balance at December 31, 2016 19,450,555 3,135,109 863,957 1,840,000 — Issuance of units to Fund G - April 28, 2017 221,729 — — — — Issuance under ATM Programs 240,426 — 704,445 623,015 — Issuance under Unit Exchange Program 226,950 — — — — Unit-based compensation 6,798 — — — — Balance at 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 508,157 — — — — Unit-based compensation 3,826 — — — — Balance at December 31, 2018 25,327,801 — 1,593,149 2,463,015 2,000,000 Issuance under ATM Programs — — 128,892 81,778 — Conversion of Series C Preferred Units 14,708 — — — (11,300 ) Unit-based compensation 10,631 — — — — Balance at December 31, 2019 25,353,140 — 1,722,041 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 March 31, 2017 April 20, 2017 May 15, 2017 $ 0.3525 $ 8,133 June 30, 2017 July 19, 2017 August 14, 2017 0.3550 8,222 September 30, 2017 October 18, 2017 November 14, 2017 0.3575 8,303 December 31, 2017 January 24, 2018 February 14, 2018 0.3675 9,304 March 31, 2018 April 19, 2018 May 15, 2018 0.3675 9,384 June 30, 2018 July 19, 2018 August 14, 2018 0.3675 9,431 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 December 31, 2019 (1) January 24, 2020 February 14, 2020 0.3675 9,360 Series A Preferred Units March 31, 2017 March 16, 2017 April 17, 2017 $ 0.5000 $ 432 June 30, 2017 June 22, 2017 July 17, 2017 0.5000 555 September 30, 2017 September 21, 2017 October 16, 2017 0.5000 713 December 31, 2017 December 21, 2017 January 16, 2018 0.5000 784 March 31, 2018 March 23, 2018 April 16, 2018 0.5000 797 June 30, 2018 June 21, 2018 July 16, 2018 0.5000 797 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 December 31, 2019 December 20, 2019 January 15, 2020 0.5000 861 Series B Preferred Units March 31, 2017 April 20, 2017 May 15, 2017 $ 0.4938 $ 934 June 30, 2017 July 19, 2017 August 15, 2017 0.4938 990 September 30, 2017 October 18, 2017 November 15, 2017 0.4938 1,203 December 31, 2017 January 22, 2018 February 15, 2018 0.4938 1,216 March 31, 2018 April 19, 2018 May 15, 2018 0.4938 1,216 June 30, 2018 July 19, 2018 August 15, 2018 0.4938 1,216 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 December 31, 2019 January 23, 2020 February 18, 2020 0.4938 1,298 Series C Preferred Units June 30, 2018 (2) April 19, 2018 May 15, 2018 $ 0.2090 $ 418 June 30, 2018 July 19, 2018 August 15, 2018 0.4400 880 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 December 31, 2019 January 23, 2020 February 18, 2020 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. (2) The first distribution declared by the Partnership for the Series C Preferred Units was prorated for the 43-day period following the closing of the issuance on April 2, 2018. The distribution was paid on May 15, 2018 to unitholders of record as of May 1, 2018

Net Income (Loss) Per Limited_2

Net Income (Loss) Per Limited Partner Unit (Tables)	12 Months Ended
	Dec. 31, 2019
Earnings Per Unit [Abstract]
Schedule of Calculation of Undistributed Net Loss	The calculation of the undistributed net loss attributable to common and subordinated unitholders for the years ended December 31, 2019, 2018 and 2017 is as follows (in thousands): Year Ended December 31, 2019 2018 2017 Net income attributable to limited partners $ 21,575 $ 115,794 $ 19,257 Less: Distributions declared on Preferred Units (11,883 ) (10,630 ) (6,673 ) General partner's incentive distribution rights (1) (788 ) (784 ) (488 ) Accretion of Series C preferred units (641 ) — — Net income attributable to common and subordinated unitholders 8,263 104,380 12,096 Distributions declared on common units (37,301 ) (37,022 ) (28,983 ) Distributions declared on subordinated units — — (4,491 ) Undistributed net income (loss) $ (29,038 ) $ 67,358 $ (21,378 ) (1) The General Partner irrevocably waived its right to receive the incentive distribution and incentive allocations related to each quarterly distribution during the year ended December 31, 2019 and for the three months ended September 30, 2018 and December 31, 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.
Calculation of Net Income (Loss) Per Unit	The calculation of net income (loss) per unit related to the Partnership for the years ended December 31, 2019, 2018 and 2017 is as follows (in thousands, except per unit data): Year Ended December 31, 2019 2018 2017 Common Common Subordinated Common Subordinated Units Units Units Units Units Distributions declared $ 37,301 $ 37,022 $ — $ 28,983 $ 4,491 Undistributed net income (loss) (29,038 ) 67,661 (303 ) (18,440 ) (2,938 ) Net income (loss) attributable to common and subordinated units - basic 8,263 104,683 (303 ) 10,543 1,553 Net income (loss) attributable to subordinated units — (303 ) — 1,553 — Distributions on dilutive preferred units — 2,613 — — — Net income (loss) attributable to common and subordinated units - diluted $ 8,263 $ 106,993 $ (303 ) $ 12,096 $ 1,553 Weighted-average units outstanding: Basic 25,343 24,626 387 19,701 3,135 Effect of dilutive subordinated units — 387 — 3,135 — Effect of dilutive preferred units — 1,954 — — — Diluted 25,343 26,967 387 22,836 3,135 Net income (loss) per common and subordinated unit: Basic $ 0.33 $ 4.25 $ (0.78 ) $ 0.54 $ 0.50 Diluted (1)(2) $ 0.33 $ 3.97 $ (0.78 ) $ 0.53 $ 0.50 (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. Effective February 15, 2018, all of the subordinated units, which were owned by Landmark, were converted on a one-for-one basis into Common Units. The diluted effect of Landmark’s subordinated units is reflected using the “if-converted method” which assumes conversion of the subordinated units into Common Units and excludes the subordinated distributions from the calculation, as the “if-converted method” is more dilutive. (2) 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 year ended December 31, 2019 and, as a result, have been excluded in the determination of diluted net income (loss) per common unit. Potential common unit equivalents were dilutive for the year ended December 31, 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)	12 Months Ended
	Dec. 31, 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): December 31, 2019 2018 Carrying amount Fair Value Carrying amount Fair Value Investment in receivables, net $ 8,822 $ 8,859 $ 18,348 $ 18,867 Revolving credit facility 232,907 232,907 155,000 155,000 Secured Notes, net 217,098 221,577 223,685 224,333
Assets and Liabilities Measured at Fair Value on a Recurring Basis	For the years ended December 31, 2019 and 2018, the Partnership measured the following assets and liabilities at fair value on a recurring basis (in thousands): December 31, 2019 2018 Derivative Assets (1) $ — $ 4,590 Derivative Liabilities (1) $ 3,149 $ 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)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Schedule of Right of First Offer acquisitions	During the years ended December 31, 2018 and 2017, 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 — Various (1) Fund G 2 — 14.8 221,729 221,729 (1) In connection with the Fund G drop-down acquisition, the Partnership entered into a contractual obligation to acquire two tenant sites and related real property interests. The Partnership acquired one of these tenant sites and related real property interests on March 31, 2017 for cash consideration of $7.5 million and the remaining additional tenant site for $3.8 million on April 28, 2017. Upon completion of the full acquisition, the Partnership issued to Fund G on April 28, 2017.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of Statement of Operations by Reportable Segment	For the year ended December 31, 2019 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 29,713 $ 21,135 $ 8,492 $ — $ 59,340 Expenses Property operating 289 1,275 419 — 1,983 General and administrative — — — 5,567 5,567 Acquisition-related — — — 1,163 1,163 Amortization 9,508 4,198 529 — 14,235 Impairments 1,846 442 — — 2,288 Total expenses 11,643 5,915 948 6,730 25,236 Total other income and expenses 11,684 502 7,062 (27,963 ) (8,715 ) Income (loss) before income tax expense 29,754 15,722 14,606 (34,693 ) 25,389 Income tax expense — — — 3,783 3,783 Net income (loss) $ 29,754 $ 15,722 $ 14,606 $ (38,476 ) $ 21,606 For the year ended December 31, 2018 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 37,879 $ 18,820 $ 8,066 $ — $ 64,765 Expenses Property operating 258 681 208 — 1,147 General and administrative — — — 4,731 4,731 Acquisition-related — — — 3,287 3,287 Amortization 11,902 3,578 672 — 16,152 Impairments 1,169 390 — — 1,559 Total expenses 13,329 4,649 880 8,018 26,876 Total other income and expenses 105,479 242 811 (28,373 ) 78,159 Income (loss) before income tax expense 130,029 14,413 7,997 (36,391 ) 116,048 Income tax expense — — — 227 227 Net income (loss) $ 130,029 $ 14,413 $ 7,997 $ (36,618 ) $ 115,821 For the year ended December 31, 2017 (in thousands): Renewable Wireless Outdoor Power Communication Advertising Generation Corporate Total Revenue Rental revenue $ 33,456 $ 11,367 $ 7,802 $ — $ 52,625 Expenses Property operating 22 228 144 — 394 General and administrative — — — 5,286 5,286 Acquisition-related 22 230 — 1,035 1,287 Amortization 10,898 2,070 569 — 13,537 Impairments 645 203 — — 848 Total expenses 11,587 2,731 713 6,321 21,352 Total other income and expenses 698 144 740 (16,724 ) (15,142 ) Income (loss) before income tax benefit 22,567 8,780 7,829 (23,045 ) 16,131 Income tax benefit — — — (3,145 ) (3,145 ) Net income (loss) $ 22,567 $ 8,780 $ 7,829 $ (19,900 ) $ 19,276
Schedule of Total Assets by Reportable Segment	The Partnership’s total assets by segment were (in thousands): December 31, 2019 2018 Segments Wireless communication $ 452,127 $ 433,254 Outdoor advertising 284,203 216,326 Renewable power generation 99,856 112,338 Corporate assets 19,419 24,695 Total assets $ 855,605 $ 786,613
Schedule of Rental Revenues by Geographic Location	The following table represents the Partnership’s rental revenues by geographic location (in thousands): December 31, 2019 2018 2017 United States $ 52,447 $ 60,441 $ 51,144 Europe 5,639 3,356 814 Australia 1,189 910 614 Canada 65 58 53 Total rental revenue $ 59,340 $ 64,765 $ 52,625
Schedule of Total Assets by Geographic Location	The following table represents the Partnership’s total assets by geographic location (in thousands): December 31, 2019 2018 United States $ 726,343 $ 720,331 Europe 114,448 53,850 Australia 13,926 11,830 Canada 888 602 Total assets $ 855,605 $ 786,613

Tenant Concentration (Tables)

Tenant Concentration (Tables)	12 Months Ended
	Dec. 31, 2019
Risks And Uncertainties [Abstract]
Schedule of Tenant Revenue Concentrations	Year Ended December 31, Tenant 2019 2018 2017 Clear Channel Outdoor 13.3 % 11.6 % 8.8 % T-Mobile 8.4 % 9.6 % 11.7 % AT&T Mobility 7.1 % 9.3 % 11.0 % Sprint 5.8 % 7.8 % 9.5 %

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Summary of Consolidated Partnership Income Before Income Tax Expense (Benefit) by Geographic Area	Consolidated Partnership income before income tax expense (benefit) by geographic area is as follows (in thousands): Year Ended December 31, 2019 2018 2017 Domestic $ 21,076 $ 116,045 $ 15,259 Foreign 4,313 3 872 Total $ 25,389 $ 116,048 $ 16,131
Summary of Income Tax Expense (Benefit)	For the years ended December 31, 2019, 2018 and 2017, income tax expense (benefit) consisted of the following (in thousands): Year Ended December 31, 2019 2018 2017 Current Domestic $ 2,397 $ (10 ) $ — Foreign 725 15 70 Deferred Domestic 718 370 (3,215 ) Foreign (57 ) (148 ) — Income tax expense (benefit) $ 3,783 $ 227 $ (3,145 )
Summary of Reconciliation Between U.S. Statutory Rate and Effective Rate from Income Before Income Tax Expense (Benefit)	Reconciliation between the U.S. statutory rate and the effective rate from income before income tax expense (benefit) is as follows: Year Ended December 31, 2019 2018 2017 Statutory tax rate 21 % 21 % 34 % Adjustment to reflect MLP/REIT status (10 )% (21 )% (29 )% Foreign taxes 3 % — % — % Valuation allowance — % — % (32 )% Change in tax law — % — % 9 % Other 1 % — % (1 )% Effective tax rate 15 % — % (19 )%

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]
Schedule of Noncash Activities	Noncash activities for the years ended December 31, 2019, 2018, and 2017 were as follows (in thousands): Year Ended December 31, 2019 2018 2017 Capital contribution to fund general and administrative expense reimbursement $ 896 $ 1,733 $ 491 Purchase price for acquisitions included in due to Landmark and affiliates — 436 196 Issuance of common units for Acquired Funds — 27,342 3,492 Unit Exchange Program acquisitions — 7,582 3,816 Distributions payable to preferred unitholders 1,781 1,710 1,296 Deferred loan costs included in accounts payable and accrued liabilities — — 285 Accretion of Series C preferred units 641 — — Conversion of Series C preferred units 283 — — Purchase price for acquisitions and development activities included in accounts payable 157 2,878 642 Investment in unconsolidated joint venture — (65,611 ) — Total assets contributed to unconsolidated joint venture — 157,045 — Total liabilities contributed to unconsolidated joint venture — (125,888 ) — Declared distributions receivable from the unconsolidated joint venture (600 ) — — Initial recognition of lease liabilities related to right of use assets 11,177 — — Deemed contribution by the General Partner 788 394 — Deemed distribution to the General Partner (788 ) (394 ) —
Schedule of Cash Flows Related to Interest Paid	Cash flows related to interest and income taxes paid were as follows (in thousands): Year Ended December 31, 2019 2018 2017 Cash paid for interest $ 14,855 $ 20,882 $ 15,797 Capitalized interest 2,003 759 48 Income taxes paid 2,839 76 28

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]
Summary of quarterly financial data	2019 Quarter Ended March 31 June 30 September 30 December 31 Total rental revenue $ 14,393 $ 15,025 $ 14,402 $ 15,520 Net income 7,210 9,265 3,986 1,145 Less: Net income attributable to noncontrolling interest 8 8 7 8 Net income attributable to limited partners 7,202 9,257 3,979 1,137 Net income (loss) per common unit Common units – basic 0.15 0.23 0.03 (0.08 ) Common units – diluted 0.15 0.23 0.03 (0.08 ) Cash distribution declared per unit 0.3675 0.3675 0.3675 0.3675 2018 Quarter Ended March 31 June 30 September 30 December 31 Total rental revenue $ 15,695 $ 16,796 $ 17,560 $ 14,714 Net income (loss) 6,741 6,105 105,147 (2,172 ) Less: Net income attributable to noncontrolling interest 4 8 8 7 Net income (loss) attributable to limited partners 6,737 6,097 105,139 (2,179 ) Net income (loss) per common and subordinated unit Common units – basic 0.21 0.12 4.06 (0.21 ) Common units – diluted 0.19 0.12 3.71 (0.21 ) Subordinated units – basic and diluted (0.19 ) — — — Cash distribution declared per unit 0.3675 0.3675 0.3675 0.3675

Organization (Details)

Organization (Details) - Limited Partners - Common Units - shares	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Partnership Equity
Number of units held (in shares)	25,353,140	25,327,801	20,146,458	19,450,555
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 - Drop-down Acquisitions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)itemsite	Dec. 31, 2018USD ($)itemsite	Dec. 31, 2017USD ($)itemsite
Acquisitions
Number of tenant sites acquired | site	146	104	63
Investments in Receivables			1
Consideration
Consideration | $	$ 52	$ 75.8	$ 41
Acquisition from related party | 2017 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired | site			155
Investments in Receivables			2
Consideration
Consideration | $			$ 118.3
Acquisition from related party | Landmark, General Partner and affiliates | 2019 Drop-down Acquisitions
Acquisitions
Number of drop-down acquisitions	0
Acquisition from related party | Landmark, General Partner and affiliates | 2018 Drop-down Acquisitions
Acquisitions
Number of drop-down acquisitions		1
Number of tenant sites acquired | site		127
Investments in Receivables		0
Consideration
Consideration | $		$ 59.9
Acquisition from related party | Landmark, General Partner and affiliates | 2017 Drop-down Acquisitions
Acquisitions
Number of drop-down acquisitions			4
Number of tenant sites acquired | site			155
Investments in Receivables			2
Consideration
Consideration | $			$ 118.3

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Purchase Accounting for Acquisitions (Details)	12 Months Ended
	Dec. 31, 2019
Wireless Communication
Business Acquisition [Line Items]
Maximum time period to estimate above/below market lease value	10 years
Outdoor Advertising
Business Acquisition [Line Items]
Maximum time period to estimate above/below market lease value	20 years
Outdoor Advertising | Billboards
Business Acquisition [Line Items]
Useful life	20 years
Minimum
Business Acquisition [Line Items]
Lease execution period	1 month
Lease-up period	4 months
Lease term	2 years
Cancellation period	30 days
Maximum
Business Acquisition [Line Items]
Lease execution period	12 months
Lease-up period	8 months
Lease term	20 years
Cancellation period	180 days
Measurement Input, Discount Rate | Minimum
Business Acquisition [Line Items]
Discount rate used to estimate fair values (as a percent)	6
Measurement Input, Discount Rate | Maximum
Business Acquisition [Line Items]
Discount rate used to estimate fair values (as a percent)	20

Basis of Presentation and Sum_6

Basis of Presentation and Summary of Significant Accounting Policies - Real Property Interests and Amortization (Details)	12 Months Ended
	Dec. 31, 2019
Minimum
Real Estate [Line Items]
Term of real estate rights	12 years
Maximum
Real Estate [Line Items]
Term of real estate rights	99 years

Basis of Presentation and Sum_7

Basis of Presentation and Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Restricted cash	$ 5,619	$ 3,672

Basis of Presentation and Sum_8

Basis of Presentation and Summary of Significant Accounting Policies - Investments in Receivables, Net (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)
Impairment
Number of real property interests impaired | site		16
Impairment of investments in receivables | $	$ 0	$ 800,000	$ 0

Basis of Presentation and Sum_9

Basis of Presentation and Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue Recognition
Contingent rent recognized	$ 1.6	$ 1.2	$ 1
Minimum
Revenue Recognition
Cancellation period	30 days
Maximum
Revenue Recognition
Cancellation period	180 days

Basis of Presentation and Su_10

Basis of Presentation and Summary of Significant Accounting Policies - Concentration of Credit Risk (Details)	Dec. 31, 2019USD ($)
Accounting Changes And Error Corrections [Abstract]
Cash accounts at each institution are insured, amount	$ 250,000

Basis of Presentation and Su_11

Basis of Presentation and Summary of Significant Accounting Policies - Business Segments (Details) - segment	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Number of reportable segments	3	3	3

Basis of Presentation and Su_12

Basis of Presentation and Summary of Significant Accounting Policies - Recently Issued Accounting Standards (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019
Accounting Policies [Abstract]
Operating lease right of use asset and lease liabilities		$ 7.6
Lessee, discount rate		4.50%
Weighted-average remaining lease term of operating leases	22 years
Weighted-average remaining lease term of finance leases	29 years

Basis of Presentation and Su_13

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Information about Other Lease Related Balances (Details) $ in Thousands	Dec. 31, 2019USD ($)
Operating leases:
Right-of-use asset	$ 11,358
Operating lease liability	10,268
Finance leases:
Right-of-use asset	19,595
Finance lease liability	$ 908

Basis of Presentation and Su_14

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Future Minimum Ground Lease Payments (Details) $ in Thousands	Dec. 31, 2019USD ($)
Accounting Policies [Abstract]
2020	$ 681
2021	690
2022	700
2023	714
2024	724
Thereafter	14,314
Total future payments	17,823
Discount	(7,555)
Operating lease liability	10,268
2020	56
2021	56
2022	56
2023	56
2024	56
Thereafter	1,350
Total future payments	1,630
Discount	(722)
Finance lease liability	$ 908

Acquisitions - Drop-down Acquis

Acquisitions - Drop-down Acquisitions - General Information (Details) - Landmark, General Partner and affiliates - Acquisition from related party - item	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
2019 Drop-down Acquisitions
Acquisitions
Number of drop-down acquisitions	0
2018 Drop-down Acquisitions
Acquisitions
Number of drop-down acquisitions		1
2017 Drop-down Acquisitions
Acquisitions
Number of drop-down acquisitions			4

Acquisitions - Drop-down Acqu_2

Acquisitions - Drop-down Acquisitions - Summary of Acquisitions Completed (Details) $ in Millions	Jan. 18, 2018USD ($)site	Dec. 20, 2017USD ($)site	Sep. 28, 2017USD ($)site	Sep. 08, 2017USD ($)site	Jul. 28, 2017USD ($)itemsite	Jun. 08, 2017USD ($)site	Apr. 28, 2017USD ($)site	Mar. 31, 2017USD ($)site	Dec. 31, 2019USD ($)site	Dec. 31, 2018USD ($)itemsite	Dec. 31, 2017USD ($)itemsite
Acquisitions
Number of tenant sites acquired									146	104	63
Investments in Receivables | item											1
Consideration
Borrowings and Available Cash | $							$ 11.3		$ 52	$ 68.1	$ 37.2
Common Units Issued to Landmark and Affiliates | $										7.7	3.8
Total | $									$ 52	$ 75.8	$ 41
Acquisition from related party | 2017 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired											155
Investments in Receivables | item											2
Consideration
Borrowings and Available Cash | $											$ 114.8
Common Units Issued to Landmark and Affiliates | $											3.5
Total | $											$ 118.3
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 | $	$ 32.6
Common Units Issued to Landmark and Affiliates | $	27.3
Total | $	$ 59.9
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 | $	$ 32.6
Common Units Issued to Landmark and Affiliates | $	27.3
Total | $	$ 59.9
Landmark, General Partner and affiliates | Acquisition from related party | 29-site acquisition
Acquisitions
Number of tenant sites acquired		29
Consideration
Borrowings and Available Cash | $		$ 17.6
Total | $		$ 17.6
Landmark, General Partner and affiliates | Acquisition from related party | 49-site acquisition
Acquisitions
Number of tenant sites acquired			49
Consideration
Borrowings and Available Cash | $			$ 33.3
Total | $			$ 33.3
Landmark, General Partner and affiliates | Acquisition from related party | 1-site sponsor one acquisition
Acquisitions
Number of tenant sites acquired				1
Consideration
Borrowings and Available Cash | $				$ 1.6
Total | $				$ 1.6
Landmark, General Partner and affiliates | Acquisition from related party | 32-site acquisition
Acquisitions
Number of tenant sites acquired					32
Investments in Receivables | item					2
Consideration
Borrowings and Available Cash | $					$ 22
Total | $					$ 22
Landmark, General Partner and affiliates | Acquisition from related party | 41-site acquisition
Acquisitions
Number of tenant sites acquired						41
Consideration
Borrowings and Available Cash | $						$ 24.7
Total | $						$ 24.7
Landmark, General Partner and affiliates | Acquisition from related party | 1-site sponsor one acquisition
Acquisitions
Number of tenant sites acquired							1
Consideration
Borrowings and Available Cash | $							$ 4.3
Total | $							$ 4.3
Landmark, General Partner and affiliates | Acquisition from related party | 2018 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired										127
Investments in Receivables | item										0
Consideration
Total | $										$ 59.9
Landmark, General Partner and affiliates | Acquisition from related party | 2017 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired											155
Investments in Receivables | item											2
Consideration
Total | $											$ 118.3
Landmark Dividend Growth Fund G LLC | Acquisition from related party | 1-site fund G acquisition
Acquisitions
Number of tenant sites acquired							1	1
Consideration
Borrowings and Available Cash | $							$ 3.8	$ 7.5
Common Units Issued to Landmark and Affiliates | $							3.5
Total | $							$ 7.3	$ 7.5
Wireless Communication
Acquisitions
Number of tenant sites acquired									4	49	35
Wireless Communication | Acquisition from related party | 2017 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired											122
Wireless Communication | Landmark Dividend Growth Fund H LLC | Acquisition from related party | 127-site fund H acquisition
Acquisitions
Number of tenant sites acquired	30
Wireless Communication | Landmark Dividend Growth Fund H LLC | Acquisition from related party | 2018 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired	30
Wireless Communication | Landmark, General Partner and affiliates | Acquisition from related party | 29-site acquisition
Acquisitions
Number of tenant sites acquired		23
Wireless Communication | Landmark, General Partner and affiliates | Acquisition from related party | 49-site acquisition
Acquisitions
Number of tenant sites acquired			39
Wireless Communication | Landmark, General Partner and affiliates | Acquisition from related party | 32-site acquisition
Acquisitions
Number of tenant sites acquired					30
Wireless Communication | Landmark, General Partner and affiliates | Acquisition from related party | 41-site acquisition
Acquisitions
Number of tenant sites acquired						30
Outdoor Advertising
Acquisitions
Number of tenant sites acquired									134	55	26
Outdoor Advertising | Acquisition from related party | 2017 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired											28
Outdoor Advertising | Landmark Dividend Growth Fund H LLC | Acquisition from related party | 127-site fund H acquisition
Acquisitions
Number of tenant sites acquired	90
Outdoor Advertising | Landmark Dividend Growth Fund H LLC | Acquisition from related party | 2018 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired	90
Outdoor Advertising | Landmark, General Partner and affiliates | Acquisition from related party | 29-site acquisition
Acquisitions
Number of tenant sites acquired		5
Outdoor Advertising | Landmark, General Partner and affiliates | Acquisition from related party | 49-site acquisition
Acquisitions
Number of tenant sites acquired			10
Outdoor Advertising | Landmark, General Partner and affiliates | Acquisition from related party | 32-site acquisition
Acquisitions
Number of tenant sites acquired					1
Outdoor Advertising | Landmark, General Partner and affiliates | Acquisition from related party | 41-site acquisition
Acquisitions
Number of tenant sites acquired						9
Outdoor Advertising | Landmark, General Partner and affiliates | Acquisition from related party | 1-site sponsor one acquisition
Acquisitions
Number of tenant sites acquired							1
Outdoor Advertising | Landmark Dividend Growth Fund G LLC | Acquisition from related party | 1-site fund G acquisition
Acquisitions
Number of tenant sites acquired							1	1
Renewable Power Generation
Acquisitions
Number of tenant sites acquired									8		2
Renewable Power Generation | Acquisition from related party | 2017 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired											5
Renewable Power Generation | Landmark Dividend Growth Fund H LLC | Acquisition from related party | 127-site fund H acquisition
Acquisitions
Number of tenant sites acquired	7
Renewable Power Generation | Landmark Dividend Growth Fund H LLC | Acquisition from related party | 2018 Drop-down Acquisitions
Acquisitions
Number of tenant sites acquired	7
Renewable Power Generation | Landmark, General Partner and affiliates | Acquisition from related party | 29-site acquisition
Acquisitions
Number of tenant sites acquired		1
Renewable Power Generation | Landmark, General Partner and affiliates | Acquisition from related party | 1-site sponsor one acquisition
Acquisitions
Number of tenant sites acquired				1
Renewable Power Generation | Landmark, General Partner and affiliates | Acquisition from related party | 32-site acquisition
Acquisitions
Number of tenant sites acquired					1
Renewable Power Generation | Landmark, General Partner and affiliates | Acquisition from related party | 41-site acquisition
Acquisitions
Number of tenant sites acquired						2

Acquisitions - Drop-down Acqu_3

Acquisitions - Drop-down Acquisitions - Summary of Acquisitions Completed - Additional Information (Details) $ in Millions	Sep. 08, 2017USD ($)	Apr. 28, 2017USD ($)shares	Mar. 31, 2017USD ($)site	Mar. 31, 2017USD ($)site	Dec. 31, 2019USD ($)site	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)site	Jun. 08, 2017site	Aug. 30, 2016site
Acquisitions
Number of tenant sites obligated to acquire | site						2
Cash consideration		$ 11.3			$ 52	$ 68.1	$ 37.2
Number of tenant sites acquired | site					146	104	63
Common units issued to Fund G | shares		221,729
1-site acquisition
Acquisitions
Cash consideration			$ 7.5
Number of tenant sites acquired | site			1
2-site acquisition
Acquisitions
Cash consideration		$ 3.8
Landmark, General Partner and affiliates | Acquisition from related party
Acquisitions
Number of tenant sites obligated to acquire | site									2
Common units issued to Fund G | shares		221,729
Landmark, General Partner and affiliates | Acquisition from related party | 1-site acquisition
Acquisitions
Number of tenant sites obligated to acquire | site								1
Cash consideration	$ 1.6	$ 3.8		$ 7.5
Number of tenant sites acquired | site				1
Landmark, General Partner and affiliates | Acquisition from related party | Property Owner
Acquisitions
Cash consideration		3.7
Landmark, General Partner and affiliates | Acquisition from related party | Landmark Acquisition
Acquisitions
Cash consideration		0.6
Landmark, General Partner and affiliates | Acquisition from related party | 2-site acquisition
Acquisitions
Cash consideration		$ 11.3

Acquisitions - Third Party Acqu

Acquisitions - Third Party Acquisitions - General Information (Details) - shares	Apr. 28, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Acquisitions
Number of common units in connection with acquisition (in shares)	221,729
UEP
Acquisitions
Number of common units in connection with acquisition (in shares)		5,000,000	5,000,000	5,000,000

Acquisitions - Third Party Ac_2

Acquisitions - Third Party Acquisitions - Summary of Acquisitions Completed (Details) $ in Millions	Apr. 28, 2017USD ($)	Dec. 31, 2019USD ($)site	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 ($)site	Dec. 31, 2017USD ($)site	Sep. 30, 2017USD ($)site	Jun. 30, 2017USD ($)itemsite	Mar. 31, 2017USD ($)site	Dec. 31, 2019USD ($)site	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)itemsite
Acquisitions
Number of tenant sites acquired														146	104	63
Investments in Receivables | item																1
Consideration
Borrowings and Available Cash | $	$ 11.3													$ 52	$ 68.1	$ 37.2
Common Units Issued to Landmark and Affiliates | $															7.7	3.8
Consideration | $														$ 52	$ 75.8	$ 41
International
Acquisitions
Number of tenant sites acquired		14	10	7	104	8	14	8		3	2	6	7
Investments in Receivables | item												1
Consideration
Borrowings and Available Cash | $		$ 10.5	$ 3.8	$ 6.7	$ 6	$ 0.2	$ 14.2	$ 7.3		$ 11.5	$ 4.1	$ 9	$ 3.6
Consideration | $		$ 10.5	$ 3.8	$ 6.7	$ 6	$ 0.2	$ 14.2	$ 7.3		$ 11.5	$ 4.1	$ 9	$ 3.6
Unit Exchange Acquisitions
Acquisitions
Number of tenant sites acquired						4	10	8	6	7		4	1
Consideration
Borrowings and Available Cash | $							$ 0.9	$ 0.6
Common Units Issued to Landmark and Affiliates | $						$ 0.9	1.8	1.8	$ 3.2	$ 2.7		$ 1	$ 0.1
Consideration | $						$ 0.9	$ 2.7	$ 2.4	$ 3.2	$ 2.7		$ 1	$ 0.1
Domestic
Acquisitions
Number of tenant sites acquired		2	1	8		2	13	4	27	21	3	1	8
Consideration
Borrowings and Available Cash | $		$ 24.3	$ 0.3	$ 0.4		$ 0.1	$ 2	$ 21.5	$ 21.3	$ 6.5	$ 0.8	$ 0.5	$ 1.2
Consideration | $		$ 24.3	$ 0.3	$ 0.4		$ 0.1	$ 2	$ 21.5	$ 21.3	$ 6.5	$ 0.8	$ 0.5	$ 1.2
2019 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired					104
Consideration
Borrowings and Available Cash | $					$ 6
Consideration | $					$ 6
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, Second Quarter
Acquisitions
Number of tenant sites acquired				15
Consideration
Borrowings and Available Cash | $				$ 7.1
Consideration | $				$ 7.1
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
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, 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
2019 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired		16
Consideration
Borrowings and Available Cash | $		$ 34.8
Consideration | $		$ 34.8
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
2017 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired												11
Investments in Receivables | item												1
Consideration
Borrowings and Available Cash | $												$ 9.5
Common Units Issued to Landmark and Affiliates | $												1
Consideration | $												$ 10.5
2017 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired											5
Consideration
Borrowings and Available Cash | $											$ 4.9
Consideration | $											$ 4.9
2017 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired										31
Consideration
Borrowings and Available Cash | $										$ 18
Common Units Issued to Landmark and Affiliates | $										2.7
Consideration | $										$ 20.7
2017 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired													16
Consideration
Borrowings and Available Cash | $													$ 4.8
Common Units Issued to Landmark and Affiliates | $													0.1
Consideration | $													$ 4.9
Wireless Communication
Acquisitions
Number of tenant sites acquired														4	49	35
Wireless Communication | International
Acquisitions
Number of tenant sites acquired		1					2					2	3
Wireless Communication | Unit Exchange Acquisitions
Acquisitions
Number of tenant sites acquired						4	10	7	5	3		3	1
Wireless Communication | Domestic
Acquisitions
Number of tenant sites acquired		2	1			1	2	3	15	14	3	1	5
Wireless Communication | 2018 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired									20
Wireless Communication | 2018 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired								10
Wireless Communication | 2019 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired			1
Wireless Communication | 2018 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired							14
Wireless Communication | 2019 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired		3
Wireless Communication | 2018 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired						5
Wireless Communication | 2017 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired												6
Wireless Communication | 2017 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired											3
Wireless Communication | 2017 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired										17
Wireless Communication | 2017 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired													9
Outdoor Advertising
Acquisitions
Number of tenant sites acquired														134	55	26
Outdoor Advertising | International
Acquisitions
Number of tenant sites acquired		13	10	7	104	8	12	8		3	2	4	4
Outdoor Advertising | Unit Exchange Acquisitions
Acquisitions
Number of tenant sites acquired								1	1	4		1
Outdoor Advertising | Domestic
Acquisitions
Number of tenant sites acquired						1	11	1	12	5			3
Outdoor Advertising | 2019 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired					104
Outdoor Advertising | 2018 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired									13
Outdoor Advertising | 2019 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired				7
Outdoor Advertising | 2018 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired								10
Outdoor Advertising | 2019 Direct Third Party Acquisitions, Third 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 | 2019 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired		13
Outdoor Advertising | 2018 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired						9
Outdoor Advertising | 2017 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired												5
Outdoor Advertising | 2017 Direct Third Party Acquisitions, Third Quarter
Acquisitions
Number of tenant sites acquired											2
Outdoor Advertising | 2017 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired										12
Outdoor Advertising | 2017 Direct Third Party Acquisitions, First Quarter
Acquisitions
Number of tenant sites acquired													7
Renewable Power Generation
Acquisitions
Number of tenant sites acquired														8		2
Renewable Power Generation | Domestic
Acquisitions
Number of tenant sites acquired				8						2
Renewable Power Generation | 2019 Direct Third Party Acquisitions, Second Quarter
Acquisitions
Number of tenant sites acquired				8
Renewable Power Generation | 2017 Direct Third Party Acquisitions, Fourth Quarter
Acquisitions
Number of tenant sites acquired										2

Real Property Interests - Summa

Real Property Interests - Summary of Real Property Interests (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
Land	$ 141,851	$ 128,302
Real property interests – perpetual	100,810	101,343
Real property interests – finite life	422,923	416,080
Real property interests – ROU asset finance lease	19,595
Construction in progress	68,907	29,556
Total land and real property interests	754,086	675,281
Accumulated amortization of real property interests	(50,015)	(39,069)
Land and net real property interests	$ 704,071	$ 636,212

Real Property Interests - Sale

Real Property Interests - Sale (Details) $ in Thousands	Jun. 27, 2019USD ($)	Jan. 04, 2019USD ($)	Sep. 24, 2018site	Dec. 31, 2019USD ($)site	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)site
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
Gain (loss) on sale of real property interests, after income taxes	$ 8,600
Gain (loss) on sale of real property interests				$ 17,985	$ 99,884	$ (5)
Equity income from unconsolidated joint venture				398	59
Unconsolidated Joint Venture
Real Property Interests
Gain (loss) on sale of real property interests					$ 100,000
Number of tenant site assets contributed | site			545		545
Equity income from unconsolidated joint venture				$ 398	$ 59
Unconsolidated Joint Venture | Revolving Credit Facility
Real Property Interests
Equity income from unconsolidated joint venture					$ 59,700
2 Wireless Communication Sites
Real Property Interests
Number of tenant sites sold | site				2
Two Wireless Communication Sites Held for Sale and Three Outdoor Advertising Site
Real Property Interests
Cash consideration received				$ 1,400
Gain (loss) on sale of real property interests, before income taxes				$ 500
Three Outdoor Advertising Site
Real Property Interests
Number of tenant sites sold | site				3
One Outdoor Advertising Site on December 31, 2018
Real Property Interests
Number of tenant sites sold | site					1
Cash consideration received					$ 100
One Outdoor Advertising Site on December 31, 2018 | Maximum
Real Property Interests
Gain (loss) on sale of real property interests					$ (100)
One Wireless Communication Site on December 31, 2017
Real Property Interests
Number of tenant sites sold | site						1
Cash consideration received						$ 200
One Wireless Communication Site on December 31, 2017 | Maximum
Real Property Interests
Gain (loss) on sale of real property interests						$ (100)

Real Property Interests - Acqui

Real Property Interests - Acquisitions and Development (Details)	12 Months Ended
	Dec. 31, 2019USD ($)itemsite	Dec. 31, 2018USD ($)itemsite	Dec. 31, 2017USD ($)itemsite
Acquisitions
Consideration	$ 52,000,000	$ 75,800,000	$ 41,000,000
Construction in progress	$ 68,907,000	$ 29,556,000
Number of tenant sites acquired | site	146	104	63
Investments in Receivables | item			1
Measurement Input, Discount Rate | Minimum
Acquisitions
Discount rate used to estimate fair values (as a percent)	6
Measurement Input, Discount Rate | Maximum
Acquisitions
Discount rate used to estimate fair values (as a percent)	20
Joint Venture
Acquisitions
Number of tenant sites acquired | site	168	34
Investments in Receivables | item	1	1
Total net book value, one investment in receivable	$ 92,800,000	$ 43,500,000
Rental revenue generated by consolidated joint venture	5,600,000	3,400,000	$ 800,000
Acquisition from related party | 2016 Drop-down Acquisitions | Landmark, General Partner and affiliates
Acquisitions
Consideration	0	59,900,000	$ 118,300,000
Net carrying value		$ 39,500,000
Smart Enabled Infrastructure
Acquisitions
Construction in progress	$ 68,900,000
Construction completed on number of infrastructure sites | site	9	4
Infrastructure Sites Completion Cost of Construction	$ 1,000,000	$ 1,500,000

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	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair values of the assets acquired and liabilities assumed at the date of acquisition
Below market lease intangibles	$ (16,817)	$ (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	11,813	16,646	$ 25,151
Investments in real property interests	17,154	91,314	107,195
Below market lease intangibles	(113)	(2,031)	(1,850)
ROU Assets	21,570
Lease liability	(1,640)
Total	54,600	115,177	135,253
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	5,730	7,939	3,781
Landmark, General Partner and affiliates | Acquisition from related party | Acquired above-market leases
Fair values of the assets acquired and liabilities assumed at the date of acquisition
Lease intangibles, assets	$ 86	$ 1,309	$ 976

Real Property Interests - Futur

Real Property Interests - Future Estimated Aggregate Amortization of Finite Lived Real Property Interests (Details) $ in Thousands	Dec. 31, 2019USD ($)
Future estimated aggregate amortization of real property interests
2020	$ 12,166
2021	11,693
2022	11,329
2023	11,237
2024	11,142
Thereafter	334,936
Total	$ 392,503

Real Property Interests - Weigh

Real Property Interests - Weighted Average Remaining Amortization Period for Non-perpetual Real Property Interests (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
Weighted average remaining amortization period for non-perpetual real property interests	40 years	42 years

Real Property Interests - Impai

Real Property Interests - Impairment (Details)	12 Months Ended
	Dec. 31, 2019USD ($)site	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)site
Impairment
Number of real property interests impaired | site		16
Recognized impairment charge	$ 2,288,000	$ 1,559,000	$ 848,000
Construction in Progress
Impairment
Recognized impairment charge	$ 1,600,000
Impaired Real Property Interest
Impairment
Number of real property interests impaired | site	8	6	6
Recognized impairment charge	$ 700,000	$ 600,000	$ 800,000
Impaired real property interests	$ 0

Real Property Interests - Asset

Real Property Interests - Assets and Liabilities Held for Sale (Details) - USD ($) $ in Millions	Jun. 27, 2019	Jan. 04, 2019
Real Property Interests
Cash consideration received	$ 31.8	$ 13.5

Real Property Interests - Carry

Real Property Interests - Carrying Amounts of Major Classes of Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
Land	$ 421	$ 1,286
Real property interests, net		5,566
Other intangible assets, net		994
AHFS	$ 421	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	Dec. 31, 2019	Dec. 31, 2018
Other Intangible Assets
Net amount	$ 23,966	$ 20,839
Acquired in-place leases
Other Intangible Assets
Gross amount	28,908	23,261
Accumulated amortization	(8,142)	(6,237)
Net amount	20,766	17,024
Acquired above-market leases
Other Intangible Assets
Gross amount	6,627	6,542
Accumulated amortization	(3,427)	(2,727)
Net amount	$ 3,200	$ 3,815

Other Intangible Assets and L_4

Other Intangible Assets and Liabilities - Total Other Intangible Liabilities, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Acquired below-market leases
Below market lease intangibles	$ (16,817)	$ (17,097)
Accumulated amortization	9,211	7,806
Net amount	$ (7,606)	$ (9,291)

Other Intangible Assets and L_5

Other Intangible Assets and Liabilities - Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Other Intangible Assets And Liabilities [Abstract]
Amortization of above-and below-market leases	$ 890	$ 1,226	$ 1,226
Amortization expense	$ 2,000	$ 2,100	$ 1,600

Other Intangible Assets and L_6

Other Intangible Assets and Liabilities - Future Aggregate Amortization of Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Future amortization of lease intangibles
Net amount	$ 23,966	$ 20,839
Acquired in-place leases
Future amortization of lease intangibles
2020	1,748
2021	1,681
2022	1,585
2023	1,291
2024	1,177
Thereafter	13,284
Net amount	20,766	17,024
Acquired above-market leases
Future amortization of lease intangibles
2020	543
2021	432
2022	351
2023	314
2024	292
Thereafter	1,268
Net amount	$ 3,200	$ 3,815

Other Intangible Assets and L_7

Other Intangible Assets and Liabilities - Future Aggregate Amortization of Other Intangible Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Future amortization of acquired below-market leases
2020	$ (1,517)
2021	(1,379)
2022	(1,256)
2023	(813)
2024	(723)
Thereafter	(1,918)
Net amount	$ (7,606)	$ (9,291)

Future Minimum Rents (Details)

Future Minimum Rents (Details) $ in Thousands	Dec. 31, 2019USD ($)
Future Minimum Rents
2020	$ 17,992
2021	17,798
2022	17,638
2023	16,531
2024	14,823
Thereafter	45,534
Total	$ 130,316

Investments in Receivables - Ge

Investments in Receivables - General Information (Details) $ in Thousands	Jul. 21, 2015	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)Investment	Dec. 31, 2017USD ($)
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
Recognized impairment charge			$ 785
Interest income recognized		$ 800	$ 1,600	$ 1,600
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	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Notes Receivable Net [Abstract]
Investments in receivables – beginning	$ 18,348	$ 20,782
Impairments		(785)
Sales	(8,331)	(350)
Other	(742)
Repayments	(564)	(1,108)	$ (1,180)
Interest accretion	9	3	7
Foreign currency translation adjustment	102	(194)
Investments in receivables – ending	$ 8,822	$ 18,348	$ 20,782

Investments in Receivables - An

Investments in Receivables - Annual Amounts Due (Details) $ in Thousands	Dec. 31, 2019USD ($)
Notes Receivable Net [Abstract]
2020	$ 1,297
2021	1,345
2022	1,463
2023	1,570
2024	1,631
Thereafter	10,005
Total	$ 17,311

Investments in Receivables - _2

Investments in Receivables - Annual Amounts Due - Principal and Interest (Details) $ in Thousands	Dec. 31, 2019USD ($)
Notes Receivable Net [Abstract]
Interest	$ 8,489
Principal	8,822
Total	$ 17,311

Investment in Unconsolidated _3

Investment in Unconsolidated Joint Venture - Additional Information (Details)	Sep. 24, 2018USD ($)site	Jun. 06, 2018USD ($)	Jun. 16, 2016USD ($)	Dec. 31, 2018USD ($)site	Dec. 31, 2019USD ($)	Nov. 30, 2017USD ($)
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	$ 1,454,000	$ 1,081,000	$ 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 Partnership Contribution of Assets and Liabilities at Cost to JV (Details) - Unconsolidated Joint Venture - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Sep. 24, 2018
Assets
Cash, cash equivalents and restricted cash			$ 1,549
Real property interests, net			153,028
Other intangible assets, net			2,468
Total assets	$ 255,157	$ 263,228	157,045
Liabilities
Secured notes			122,084
Other intangible liabilities, net			3,046
Other liabilities			758
Total liabilities	127,611	128,448	125,888
Net equity contributed to the unconsolidated joint venture	$ 127,546	$ 134,780	$ 31,157

Investment in Unconsolidated _5

Investment in Unconsolidated Joint Venture - Summary of Partnership Gain on Contribution of Real Property Interests to JV (Details) - Unconsolidated Joint Venture - USD ($) $ in Thousands	Sep. 24, 2018	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Equity Method Investments [Line Items]
Investment in unconsolidated joint venture	$ 65,611
Proceeds from sale of real property interests	65,585
Less: Net equity contributed to the unconsolidated joint venture	(31,157)	$ (127,546)	$ (134,780)
Gain on sale of real property interests	$ 100,039

Investment in Unconsolidated _6

Investment in Unconsolidated Joint Venture - Summary of Balance Sheet Information for Unconsolidated JV (Details) - Unconsolidated Joint Venture - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Sep. 24, 2018
Schedule Of Equity Method Investments [Line Items]
Total assets	$ 255,157	$ 263,228	$ 157,045
Total liabilities	127,611	128,448	125,888
Total equity	127,546	134,780	$ 31,157
Total liabilities and equity	$ 255,157	$ 263,228

Investment in Unconsolidated _7

Investment in Unconsolidated Joint Venture - Summary of Financial Information for Unconsolidated JV (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Equity Method Investments [Line Items]
Partnership's share in income	$ 398	$ 59
Distributions declared to the Partnership	3,383
Unconsolidated Joint Venture
Schedule Of Equity Method Investments [Line Items]
Rental revenue	14,245	3,697
Net income	796	117
Partnership's share in income	398	$ 59
Distributions declared to the Partnership	$ 3,983

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) £ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019GBP (£)	Dec. 31, 2018USD ($)	Nov. 30, 2017USD ($)	Jun. 16, 2016USD ($)
Debt
Outstanding Balance, revolving credit facility	$ 232,907,000		$ 155,000,000
Deferred loan costs	(4,557,000)		(5,552,000)
Secured Notes, net	217,098,000		223,685,000
Senior secured revolving credit facility
Debt
Outstanding Balance, revolving credit facility	$ 232,907,000	£ 40.5	155,000,000
Maturity Date	Nov. 15, 2023
4.38% senior secured notes
Debt
Outstanding Balance, secured debt	$ 39,945,000		42,058,000
Maturity Date	Jun. 30, 2036
Series 2017-1 Class A
Debt
Outstanding Balance, secured debt	$ 59,124,000		60,900,000
Maturity Date	Nov. 15, 2022
Series 2017-1 Class B
Debt
Outstanding Balance, secured debt	$ 17,172,000		17,563,000
Maturity Date	Nov. 15, 2022
Series 2016-1 Class A
Debt
Outstanding Balance, secured debt	$ 82,175,000		86,258,000
Maturity Date	Jun. 1, 2021
Series 2016-1 Class B
Debt
Outstanding Balance, secured debt	$ 25,100,000		25,100,000
Maturity Date	Jun. 1, 2021
Secured notes
Debt
Outstanding Balance, secured debt	$ 223,516,000		231,879,000
Discount on Secured Notes	(1,081,000)		(1,454,000)	$ (1,800,000)	$ (17,292)
Deferred loan costs	(5,337,000)		(6,740,000)
Secured Notes, net	$ 217,098,000		$ 223,685,000

Debt - Summary of Debt (Parenth

Debt - Summary of Debt (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 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 and B
Debt Instrument [Line Items]
Debt instrument, final legal maturity date	Nov. 15, 2047
Series 2016-1 Class A and B
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 ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019GBP (£)	Dec. 31, 2018USD ($)
Debt
Revolving credit facility		$ 232,907		$ 155,000
Senior secured revolving credit facility
Debt
Annual commitment rate		0.175%
Maturity Date		Nov. 15, 2023
Revolving credit facility		$ 232,907	£ 40.5	$ 155,000
Undrawn borrowing capacity		$ 217,100
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)		2.25%
Amended and Restated Senior Secured Revolving Credit Facility
Debt
Initial borrowing capacity	$ 450,000
Credit facility term	5 years
Additional borrowing capacity	$ 75,000
Standby Letters of Credit | Senior secured revolving credit facility
Debt
Undrawn borrowing capacity		$ 2,400

Debt - Secured Notes (Details)

Debt - Secured Notes (Details) - USD ($)	Jan. 15, 2020	Jun. 06, 2018	Apr. 24, 2018	Nov. 30, 2017	Jun. 16, 2016	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Restricted cash reserved						$ 5,619,000	$ 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
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
Acquisition costs, period cost				16,000,000
Debt discount				1,800,000	17,292	$ 1,081,000	$ 1,454,000
Number of calendar months to maintain maximum debt service coverage ratio						12 months
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 | Subsequent Event
Debt Instrument [Line Items]
Repayment of debt	$ 59,000,000
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%
Series 2017-1 Class B 3.81%
Debt Instrument [Line Items]
Interest rate (as a percent)						3.81%
Series 2017-1 Class A and B
Debt Instrument [Line Items]
Maturity Date						Nov. 15, 2047
Frequency of periodic payment of principal and interest						monthly
Amortization period				30 years
Secured Notes, Commencing start date				Jan. 31, 2018
Other payments related to principal				$ 0
Secured Notes, Anticipated repayment end date				Nov. 30, 2022
Series 2016-1 Class A 3.52%
Debt Instrument [Line Items]
Interest rate (as a percent)						3.52%
Series 2016-1 Class B 7.02%
Debt Instrument [Line Items]
Interest rate (as a percent)						7.02%
Series 2016-1 Class A and B
Debt Instrument [Line Items]
Maturity Date						Jul. 15, 2046
Frequency of periodic payment of principal and interest						monthly
Amortization period					30 years
Secured Notes, Commencing start date					Jul. 31, 2016
Other payments related to principal					$ 0
Secured Notes, Anticipated repayment end date					Jun. 30, 2021
2016 Secured notes | Subsequent Event
Debt Instrument [Line Items]
Repayment of debt	$ 108,000,000
2016 Secured notes | Minimum
Debt Instrument [Line Items]
Debt service coverage ratio						200.00%
2017 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
4.38% senior secured notes | Minimum
Debt Instrument [Line Items]
Debt service coverage ratio						110.00%

Debt - Schedule of Debt Service

Debt - Schedule of Debt Service Coverage Ratio (Details)	12 Months Ended
	Dec. 31, 2019
2017 Securitization
Debt Instrument [Line Items]
Issuer or Borrower	LMRK Issuer Co. 2 LLC
Notes Issued	Series 2017-1 Secured Notes, Class A and Class B
Conditions Limiting Distributions of Excess Cash, Cash Trap DSCR	1.30%	[1]
2016 Securitization
Debt Instrument [Line Items]
Issuer or Borrower	LMRK Issuer Co. LLC
Notes Issued	Series 2016-1 Secured Notes, Class A and Class B
Conditions Limiting Distributions of Excess Cash, Cash Trap DSCR	1.30%	[1]
[1]	Once triggered, a Cash Trap DSCR condition continues to exist until the DSCR exceeds the Cash Trap DSCR for two consecutive calendar months. During a Cash Trap DSCR condition, all cash flow in excess of amounts required to make debt service payments, to fund required reserves, to pay management fees and budgeted operating expenses and to make other payments required under the indenture, referred to as excess cash flow, will be deposited into a reserve account instead of being released to the applicable issuer.

Debt - Schedule of Debt Servi_2

Debt - Schedule of Debt Service Coverage Ratio (Parenthetical) (Details) - Secured notes	Nov. 30, 2017	Jun. 16, 2016
Debt Instrument [Line Items]
Number of consecutive calendar months	2 months	2 months
Minimum
Debt Instrument [Line Items]
Debt service coverage ratio	1.15%	1.15%

Debt - Annual Principal Payment

Debt - Annual Principal Payment Amounts (Details) - Secured notes - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
2020	$ 10,313
2021	108,013
2022	72,440
2023	2,714
2024	2,889
Thereafter	27,147
Total	$ 223,516	$ 231,879

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest Expense
Debt interest expense	$ 18,200	$ 24,300	$ 18,400
Interest payable	500	300
Loss on early extinguishment of debt		(157)
Interest expense
Interest Expense
Amortization of deferred loan costs and discount on secured notes	$ 3,100	3,800	$ 2,200
Amended and Restated Senior Secured Revolving Credit Facility
Interest Expense
Loss on early extinguishment of debt		$ 200

Interest Rate Swap Agreements -

Interest Rate Swap Agreements - Fair Value of Interest Rate Swap Agreements (Details)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019GBP (£)	Dec. 31, 2018USD ($)
Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (3,149,000)		$ 4,188,000
Agreement effective date April 13, 2015
Interest Rate Swap Agreements
Date Entered	Feb. 5, 2015
Notional value	$ 25,000,000
Fixed Rate	1.29%	1.29%
Index	1-month USD LIBOR
Maturity Date	Apr. 13, 2019
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
Date Entered	Aug. 24, 2015
Notional value	$ 50,000,000
Fixed Rate	1.74%	1.74%
Index	1-month USD LIBOR
Maturity Date	Oct. 1, 2022
Agreement effective date October 1, 2015 | Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (264,000)		1,259,000
Agreement entered into March 23, 2016 effective date December 24, 2018
Interest Rate Swap Agreements
Date Entered	Mar. 23, 2016
Notional value	$ 50,000,000
Fixed Rate	1.67%	1.67%
Index	1-month USD LIBOR
Maturity Date	Dec. 24, 2021
Agreement entered into March 23, 2016 effective date December 24, 2018 | Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (113,000)		1,117,000
Agreement entered into March 31, 2016 effective date December 24, 2018
Interest Rate Swap Agreements
Date Entered	Mar. 31, 2016
Notional value	$ 20,000,000
Fixed Rate	1.56%	1.56%
Index	1-month USD LIBOR
Maturity Date	Dec. 24, 2021
Agreement entered into March 31, 2016 effective date December 24, 2018 | Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (4,000)		508,000
Agreement entered into March 31, 2016 effective date April 13, 2019
Interest Rate Swap Agreements
Date Entered	Mar. 31, 2016
Notional value	$ 25,000,000
Fixed Rate	1.63%	1.63%
Index	1-month USD LIBOR
Maturity Date	Apr. 13, 2022
Agreement entered into March 31, 2016 effective date April 13, 2019 | Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (48,000)		569,000
Agreement entered into June 12, 2017 effective date March 02, 2018
Interest Rate Swap Agreements
Date Entered	Jun. 12, 2017
Notional value	$ 50,000,000
Fixed Rate	2.10%	2.10%
Index	1-month USD LIBOR
Maturity Date	Sep. 2, 2024
Agreement entered into June 12, 2017 effective date March 02, 2018 | Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (1,045,000)		1,035,000
Agreement entered into November 15, 2018 effective date November 30, 2020
Interest Rate Swap Agreements
Date Entered	Nov. 15, 2018
Notional value | £		£ 38,000,000
Fixed Rate	1.49%	1.49%
Index	1-month GBP LIBOR
Maturity Date	Nov. 30, 2025
Agreement entered into November 15, 2018 effective date November 30, 2020 | Level 2 inputs
Interest Rate Swap Agreements
Fair Value Asset (Liability)	$ (1,675,000)		$ (402,000)

Interest Rate Swap Agreements_2

Interest Rate Swap Agreements - Gain (Loss) on Derivatives (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest Rate Swap Agreements
Unrealized gain (loss) on derivatives	$ (7,327,000)	$ 1,010,000	$ 1,675,000
Maximum
Interest Rate Swap Agreements
Realized loss on foreign currency derivatives		$ 100,000

Interest Rate Swap Agreements_3

Interest Rate Swap Agreements - Sensitivity Analysis (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Agreement effective date October 1, 2015
Interest Rate Swap Agreements
Date Entered	Aug. 24, 2015
Maturity Date	Oct. 1, 2022
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	$ 365
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	(930)
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	996
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	$ (1,594)
Agreement entered into March 23, 2016 effective date December 24, 2018
Interest Rate Swap Agreements
Date Entered	Mar. 23, 2016
Maturity Date	Dec. 24, 2021
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	$ 347
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	(591)
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	807
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	$ (1,069)
Agreement entered into March 31, 2016 effective date December 24, 2018
Interest Rate Swap Agreements
Date Entered	Mar. 31, 2016
Maturity Date	Dec. 24, 2021
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	$ 181
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	(194)
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	364
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	$ (385)
Agreement entered into March 31, 2016 effective date April 13, 2019
Interest Rate Swap Agreements
Date Entered	Mar. 31, 2016
Maturity Date	Apr. 13, 2022
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	$ 220
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	(326)
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	487
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	$ (605)
Agreement entered into June 12, 2017 effective date March 02, 2018
Interest Rate Swap Agreements
Date Entered	Jun. 12, 2017
Maturity Date	Sep. 2, 2024
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	$ (12)
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	(2,232)
Agreement entered into June 12, 2017 effective date March 02, 2018 | Increase of 100 Basis Points
Interest Rate Swap Agreements
Sensitivity analysis, increase (decrease) in fair value of interest rate derivative	1,056
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	$ (3,387)
Agreement entered into November 15, 2018 effective date November 30, 2020
Interest Rate Swap Agreements
Date Entered	Nov. 15, 2018
Maturity Date	Nov. 30, 2025
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	$ (563)
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	(3,099)
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	637
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	$ (4,439)
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%)

Unit-Based Compensation (Detail

Unit-Based Compensation (Details)	Jan. 25, 2018$ / yr	Dec. 31, 2019shares	Dec. 31, 2018shares	Dec. 31, 2017shares
Landmark Infrastructure Partners LP 2014 Long-Term Incentive Plan (the "LTIP") | Limited Partners | Common Units
Unit-Based Compensation
Initial limit on the number of units that may be delivered pursuant to vested awards (in shares)		785,000
Annual increase in the number of units that may be delivered pursuant to vested awards, maximum (in shares)		1,570,000
Annual increase in the number of units that may be delivered pursuant to vested awards, as a percentage of total number of units outstanding (as a percent)		2.00%
Chairman of Audit Committee | Amended and Restated Plan
Unit-Based Compensation
Additional annualized compensation, payable in cash (in dollars per year) | $ / yr	15,000
Non-Employee Director | Amended and Restated Plan
Unit-Based Compensation
Annualized compensation, payable in cash (in dollars per year) | $ / yr	40,000
Annualized compensation, payable in common units, value (in dollars per year) | $ / yr	40,000
Non-Employee Director | Landmark Infrastructure Partners LP 2014 Long-Term Incentive Plan (the "LTIP")
Unit-Based Compensation
Number of units granted (in shares)		10,631	3,826	6,798
Executive Officer
Unit-Based Compensation
Number of units granted (in shares)		0

Equity - Changes in Units Outst

Equity - Changes in Units Outstanding (Details) - shares	Apr. 28, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Increase (decrease) in partners' capital
Issuance of units to Fund	221,729
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	19,450,555
Conversion of subordinated units (in units)		14,708	3,135,109
Unit-based compensation (in units)		10,631	3,826	6,798
Balance (in units)		25,353,140	25,327,801	20,146,458
Limited Partners | Common Units | Landmark, General Partner and affiliates
Increase (decrease) in partners' capital
Issuance of units to Fund			1,506,421	221,729
Limited Partners | Common Units | At The Market Issuance Sales Agreement
Increase (decrease) in partners' capital
Issuance of units, net (in units)			27,830	240,426
Limited Partners | Common Units | Unit Exchange Program
Increase (decrease) in partners' capital
Issuance of units, net (in units)			508,157	226,950
Limited Partners | Subordinated Units
Increase (decrease) in partners' capital
Balance (in units)			3,135,109	3,135,109
Conversion of subordinated units (in units)			(3,135,109)
Balance (in units)				3,135,109
Limited Partners | Preferred Units Series A
Increase (decrease) in partners' capital
Balance (in units)		1,593,149	1,568,402	863,957
Balance (in units)		1,722,041	1,593,149	1,568,402
Limited Partners | Preferred Units Series A | At The Market Issuance Sales Agreement
Increase (decrease) in partners' capital
Issuance of units, net (in units)		128,892	24,747	704,445
Limited Partners | Preferred Units Series B
Increase (decrease) in partners' capital
Balance (in units)		2,463,015	2,463,015	1,840,000
Balance (in units)		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		623,015
Limited Partners | Preferred Units Series C
Increase (decrease) in partners' capital
Balance (in units)		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

Equity - General Information (D

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

Feb. 27, 2020USD ($)shares

Jan. 30, 2020USD ($)

May 03, 2019USD ($)

May 15, 2018$ / shares

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

Feb. 15, 2018

Apr. 28, 2017shares

Mar. 30, 2017USD ($)

Mar. 27, 2017USD ($)

Dec. 31, 2019$ / sharesshares

Sep. 30, 2019$ / shares

Jun. 30, 2019$ / shares

Mar. 31, 2019$ / shares

Dec. 31, 2018$ / shares

Sep. 30, 2018$ / shares

Jun. 30, 2018$ / shares

Mar. 31, 2018$ / shares

Dec. 31, 2017$ / shares

Sep. 30, 2017$ / shares

Jun. 30, 2017$ / shares

Mar. 31, 2017$ / shares

Dec. 31, 2019USD ($)site$ / sharesshares

Dec. 31, 2018USD ($)siteshares

Dec. 31, 2017USD ($)siteshares

Mar. 10, 2016shares

Partnership Equity

Number of tenant sites acquired | site

146

104

63

Common Units Issued to Landmark and Affiliates | $

$ 7,700

$ 3,800

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

221,729

Proceeds from the issuance of Preferred Units, net | $

$ 4,993

$ 47,911

$ 31,891

Quarterly distributions

Conversion ratio of subordinated units into common units

100.00%

Wireless Communication

Partnership Equity

Number of tenant sites acquired | site

4

49

35

Unit Exchange Program | 6-site acquisition | Wireless Communication

Partnership Equity

Number of tenant sites acquired | site

0

Unit Exchange Program | 28-site acquisition | Wireless Communication

Partnership Equity

Number of tenant sites acquired | site

28

Common Units Issued to Landmark and Affiliates | $

$ 7,600

Unit Exchange Program | 12-site acquisition | Wireless Communication

Partnership Equity

Number of tenant sites acquired | site

12

Common Units Issued to Landmark and Affiliates | $

$ 3,800

Common Units

Partnership Equity

Conversion of subordinated units (in units)

14,708

Preferred Units Series B

Partnership Equity

Distribution date

Feb. 18, 2020

Nov. 15, 2019

Aug. 15, 2019

May 15, 2019

Feb. 15, 2019

Nov. 15, 2018

Aug. 15, 2018

May 15, 2018

Feb. 15, 2018

Nov. 15, 2017

Aug. 15, 2017

May 15, 2017

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

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

$ 0.4938

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

Partnership Equity

Aggregate offering price | $

$ 50,000

Preferred Units Series C

Partnership Equity

Distribution date

Feb. 18, 2020

Nov. 15, 2019

Aug. 15, 2019

May 15, 2019

Feb. 15, 2019

Nov. 15, 2018

Aug. 15, 2018

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

$ 0.4375

$ 0.4375

$ 0.4510

$ 0.4614

$ 0.4571

$ 0.4382

$ 0.4400

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

Subsequent Event | At The Market Issuance Sales Agreement

Partnership Equity

Proceeds from issuance of unit, before costs | $

$ 4,500

Subsequent Event | Common Units | At The Market Issuance Sales Agreement

Partnership Equity

Issuance of units, net (in shares)

109,724,000

Subsequent Event | Preferred Units Series B | At The Market Issuance Sales Agreement

Partnership Equity

Issuance of units, net (in shares)

84,139,000

Limited Partners

Partnership Equity

Aggregate offering price | $

$ 750,000

Limited Partners | Common Units

Partnership Equity

Issuance of units, net (in shares)

2,043,000

688,000

Conversion of subordinated units (in units)

14,708

3,135,109

Quarterly distributions

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

$ 0.2875

Limited Partners | Common Units | Unit Exchange Program

Partnership Equity

Units authorized (in units)

5,000,000

Limited Partners | Common Units | Unit Exchange Program | 28-site acquisition | Wireless Communication

Partnership Equity

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

508,157

Limited Partners | Common Units | Unit Exchange Program | 12-site acquisition | Wireless Communication

Partnership Equity

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

226,950

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

Partnership Equity

Issuance of units, net (in shares)

0

27,830

240,426

Proceeds from issuance of unit, before costs | $

$ 500

$ 4,200

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

Partnership Equity

Aggregate offering price | $

$ 50,000

Issuance of units, net (in shares)

0

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

Partnership Equity

Issuance of units, net (in shares)

0

24,747

704,445

Proceeds from issuance of unit, before costs | $

$ 600

$ 17,700

Limited Partners | Preferred Units Series B

Partnership Equity

Issuance of units, net (in shares)

82,000

623,000

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

Partnership Equity

Aggregate offering price | $

$ 50,000

Issuance of units, net (in shares)

81,778

0

623,015

Proceeds from issuance of unit, before costs | $

$ 2,100

$ 15,600

Remaining available amount to be issued | $

$ 32,300

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

Partnership Equity

Issuance of units, net (in shares)

128,892

Proceeds from issuance of unit, before costs | $

$ 3,300

Remaining available amount to be issued | $

$ 46,700

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 | Preferred Units Series C | Public Offering

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

Limited Partners | Subsequent Event

Partnership Equity

Aggregate offering price | $

$ 750,000

Equity - Summary of Quarterly D

Equity - Summary of Quarterly Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017
Common and Subordinated Units and IDRs
Quarterly distributions
Declaration Date	Jan. 24, 2020	Oct. 25, 2019	Jul. 19, 2019	Apr. 19, 2019	Jan. 25, 2019	Oct. 26, 2018	Jul. 19, 2018	Apr. 19, 2018	Jan. 24, 2018	Oct. 18, 2017	Jul. 19, 2017	Apr. 20, 2017
Distribution Date	Feb. 14, 2020	Nov. 14, 2019	Aug. 14, 2019	May 15, 2019	Feb. 14, 2019	Nov. 14, 2018	Aug. 14, 2018	May 15, 2018	Feb. 14, 2018	Nov. 14, 2017	Aug. 14, 2017	May 15, 2017
Distribution Per Unit Paid (in dollars per share)	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3575	$ 0.3550	$ 0.3525
Total Distribution Paid	$ 9,360	$ 9,317	$ 9,312	$ 9,312	$ 9,312	$ 9,285	$ 9,431	$ 9,384	$ 9,304	$ 8,303	$ 8,222	$ 8,133
Preferred Units Series A
Quarterly distributions
Declaration Date	Dec. 20, 2019	Sep. 20, 2019	Jun. 20, 2019	Mar. 21, 2019	Dec. 20, 2018	Sep. 20, 2018	Jun. 21, 2018	Mar. 23, 2018	Dec. 21, 2017	Sep. 21, 2017	Jun. 22, 2017	Mar. 16, 2017
Distribution Date	Jan. 15, 2020	Oct. 15, 2019	Jul. 15, 2019	Apr. 15, 2019	Jan. 15, 2019	Oct. 15, 2018	Jul. 16, 2018	Apr. 16, 2018	Jan. 16, 2018	Oct. 16, 2017	Jul. 17, 2017	Apr. 17, 2017
Distribution Per Unit Paid (in dollars per share)	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000	$ 0.5000
Total Distribution Paid	$ 861	$ 837	$ 828	$ 797	$ 797	$ 797	$ 797	$ 797	$ 784	$ 713	$ 555	$ 432
Preferred Units Series B
Quarterly distributions
Declaration Date	Jan. 23, 2020	Oct. 22, 2019	Jul. 19, 2019	Apr. 19, 2019	Jan. 22, 2019	Oct. 22, 2018	Jul. 19, 2018	Apr. 19, 2018	Jan. 22, 2018	Oct. 18, 2017	Jul. 19, 2017	Apr. 20, 2017
Distribution Date	Feb. 18, 2020	Nov. 15, 2019	Aug. 15, 2019	May 15, 2019	Feb. 15, 2019	Nov. 15, 2018	Aug. 15, 2018	May 15, 2018	Feb. 15, 2018	Nov. 15, 2017	Aug. 15, 2017	May 15, 2017
Distribution Per Unit Paid (in dollars per share)	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938	$ 0.4938
Total Distribution Paid	$ 1,298	$ 1,257	$ 1,257	$ 1,216	$ 1,216	$ 1,216	$ 1,216	$ 1,216	$ 1,216	$ 1,203	$ 990	$ 934
Preferred Units Series C
Quarterly distributions
Declaration Date	Jan. 23, 2020	Oct. 22, 2019	Jul. 19, 2019	Apr. 19, 2019	Jan. 22, 2019	Oct. 22, 2018	Jul. 19, 2018
Distribution Date	Feb. 18, 2020	Nov. 15, 2019	Aug. 15, 2019	May 15, 2019	Feb. 15, 2019	Nov. 15, 2018	Aug. 15, 2018
Distribution Per Unit Paid (in dollars per share)	$ 0.4375	$ 0.4375	$ 0.4510	$ 0.4614	$ 0.4571	$ 0.4382	$ 0.4400
Total Distribution Paid	$ 870	$ 870	$ 902	$ 923	$ 914	$ 876	$ 880
Preferred Units Series C | Prorated Distribution ( April 2, 2018 to May 14, 2018)
Quarterly distributions
Declaration Date							Apr. 19, 2018
Distribution Date							May 15, 2018
Distribution Per Unit Paid (in dollars per share)							$ 0.2090
Total Distribution Paid							$ 418

Equity - Summary of Quarterly_2

Equity - Summary of Quarterly Distributions (Parenthetical) (Details) - Preferred Units Series C	3 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018
Quarterly distributions
Distribution Date	Feb. 18, 2020	Nov. 15, 2019	Aug. 15, 2019	May 15, 2019	Feb. 15, 2019	Nov. 15, 2018	Aug. 15, 2018
Prorated Distribution ( April 2, 2018 to May 14, 2018)
Quarterly distributions
Prorated period							43 days
Closing date of issuance							Apr. 2, 2018
Distribution Date							May 15, 2018
Record date							May 1, 2018

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 and Subordinated Unitholders (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net income (loss) attributable to partners:
Net income attributable to limited partners	$ 1,137	$ 3,979	$ 9,257	$ 7,202	$ (2,179)	$ 105,139	$ 6,097	$ 6,737	$ 21,575	$ 115,794	$ 19,257
Less: Distributions declared									(11,883)	(10,630)	(6,673)
Incentive distribution rights									(788)	(784)	(488)
Accretion of Series C preferred units									(641)
Net income attributable to common and subordinated unitholders									8,263	104,380	12,096
General Partner
Net income (loss) attributable to partners:
Incentive distribution rights									(788)	(784)	(488)
Preferred Units
Net income (loss) attributable to partners:
Less: Distributions declared									(11,883)	(10,630)	(6,673)
Common Units
Net income (loss) attributable to partners:
Less: Distributions declared									(37,301)	(37,022)	(28,983)
Net income attributable to common and subordinated unitholders									8,263	104,683	10,543
Undistributed net income (loss)									(29,038)	67,661	(18,440)
Subordinated Units
Net income (loss) attributable to partners:
Less: Distributions declared											(4,491)
Net income attributable to common and subordinated unitholders										(303)	1,553
Undistributed net income (loss)										(303)	(2,938)
Common and Subordinated Units
Net income (loss) attributable to partners:
Undistributed net income (loss)									$ (29,038)	$ 67,358	$ (21,378)

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								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net income (loss) attributable to partners:
Distributions declared									$ 11,883	$ 10,630	$ 6,673
Net income attributable to common and subordinated unitholders									$ 8,263	$ 104,380	$ 12,096
Weighted-average units outstanding:
Basic (in shares)									25,343	24,626	19,701
Units - diluted (in shares)									25,343	26,967	22,836
Net income (loss) per common and subordinated unit:
Basic (in dollars per share)									$ 0.33	$ 4.25	$ 0.54
Diluted (in dollars per share)									$ 0.33	$ 3.97	$ 0.53
Common Units
Net income (loss) attributable to partners:
Distributions declared									$ 37,301	$ 37,022	$ 28,983
Undistributed net income (loss)									(29,038)	67,661	(18,440)
Net income attributable to common and subordinated unitholders									8,263	104,683	10,543
Net income (loss) attributable to subordinated units										(303)	1,553
Distributions on dilutive preferred units										2,613
Net income (loss) attributable to common and subordinated units - diluted									$ 8,263	$ 106,993	$ 12,096
Weighted-average units outstanding:
Basic (in shares)									25,343	24,626	19,701
Effect of dilutive subordinated units										387	3,135
Effect of dilutive preferred units										1,954
Units - diluted (in shares)									25,343	26,967	22,836
Net income (loss) per common and subordinated unit:
Basic (in dollars per share)	$ (0.08)	$ 0.03	$ 0.23	$ 0.15	$ (0.21)	$ 4.06	$ 0.12	$ 0.21	$ 0.33	$ 4.25	$ 0.54
Diluted (in dollars per share)	$ (0.08)	$ 0.03	$ 0.23	$ 0.15	$ (0.21)	$ 3.71	$ 0.12	$ 0.19	$ 0.33	$ 3.97	$ 0.53
Subordinated Units
Net income (loss) attributable to partners:
Distributions declared											$ 4,491
Undistributed net income (loss)										$ (303)	(2,938)
Net income attributable to common and subordinated unitholders										(303)	1,553
Net income (loss) attributable to common and subordinated units - diluted										$ (303)	$ 1,553
Weighted-average units outstanding:
Basic (in shares)										387	3,135
Units - diluted (in shares)										387	3,135
Net income (loss) per common and subordinated unit:
Basic (in dollars per share)										$ (0.78)	$ 0.50
Diluted (in dollars per share)										$ (0.78)	$ 0.50

Net Income (Loss) Per Limited_6

Net Income (Loss) Per Limited Partner Unit - Net Income (Loss) per Unit (Parenthetical) (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

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Carrying Amount
Investment in receivables, net
Investment in receivables, net	$ 8,822	$ 18,348
Carrying Amount | Senior secured revolving credit facility
Debt
Revolving credit facility	232,907	155,000
Carrying Amount | Secured notes
Debt
Secured Notes, net	217,098	223,685
Fair Value
Investment in receivables, net
Investment in receivables, net	8,859	18,867
Fair Value | Senior secured revolving credit facility
Debt
Revolving credit facility	232,907	155,000
Fair Value | Secured notes
Debt
Secured Notes, net	$ 221,577	$ 224,333

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Assets and Liabilities Carried at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Liabilities	$ 3,149	$ 402
Recurring | Level 2 inputs
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Assets		4,590
Derivative Liabilities	$ 3,149	$ 402

Related-Party Transactions (Det

Related-Party Transactions (Details)	Jun. 16, 2017	Nov. 30, 2017	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2019USD ($)item$ / shares$ / property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jun. 13, 2017
Related Party Transaction [Line Items]
Due from Landmark and affiliates			$ 1,390,000		$ 1,132,000	$ 1,390,000
Incentive distribution rights					$ 788,000	394,000
4.38% Senior Secured Notes
Related Party Transaction [Line Items]
Interest rate (as a percent)					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			400,000	$ 800,000
Threshold percentage per unit per quarter (in dollars per share) | $ / shares					$ 0.2875
Incentive distribution rights					$ 0	400,000	$ 500,000
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			1,400,000		$ 1,100,000	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					3,700,000	2,800,000	3,500,000
Due from Landmark and affiliates			$ 100,000			100,000
Management fees related to unconsolidated joint venture not subject to cap					300,000
Indemnification amount related to property taxes					400,000
Indemnification amount related to certain assets						1,000,000
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					$ 100,000	$ 100,000	$ 100,000
Type of Cost, Good or Service [Extensible List]					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%
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					$ 270,677	$ 53,685	$ 18,451
General Partner | Management fees | 2018 Secured Notes | Unconsolidated Joint Venture
Related Party Transaction [Line Items]
Costs incurred					300,000	100,000
Landmark Dividend LLC | Management fees
Related Party Transaction [Line Items]
Costs incurred					0	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 ($)siteshares	Apr. 28, 2017USD ($)siteshares	Dec. 31, 2019USD ($)site	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)itemsite
Related Party Transaction [Line Items]
Total No. of Tenant Sites | site			146	104	63
Investments in Receivables | item					1
Total Consideration | $			$ 52	$ 75.8	$ 41
Common units issued to Fund G | shares		221,729
Landmark Dividend Growth Fund G LLC | Acquisition from related party | 2-site acquisition
Related Party Transaction [Line Items]
Total No. of Tenant Sites | site		2
Total Consideration | $		$ 14.8
Common units issued to Fund G | shares		221,729
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
Common units issued to Fund G | shares	1,506,421

Related-Party Transactions - _2

Related-Party Transactions - Summary of Completed Right of First Offer ("ROFO") Acquisitions (Parenthetical) (Details) $ in Millions	Apr. 28, 2017USD ($)shares	Mar. 31, 2017USD ($)site	Dec. 31, 2019USD ($)site	Dec. 31, 2018USD ($)site	Dec. 31, 2017USD ($)site
Related Party Transaction [Line Items]
Number of tenant sites obligated to acquire | site				2
Number of tenant sites acquired | site			146	104	63
Cash consideration | $	$ 11.3		$ 52	$ 68.1	$ 37.2
Common units issued to Fund G | shares	221,729
1-site acquisition
Related Party Transaction [Line Items]
Number of tenant sites acquired | site		1
Cash consideration | $		$ 7.5
2-site acquisition
Related Party Transaction [Line Items]
Cash consideration | $	$ 3.8

Segment Information - General I

Segment Information - General Information (Details) - segment	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting [Abstract]
Number of reportable segments	3	3	3

Segment Information - Statement

Segment Information - Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue
Rental revenue	$ 15,520	$ 14,402	$ 15,025	$ 14,393	$ 14,714	$ 17,560	$ 16,796	$ 15,695	$ 59,340	$ 64,765	$ 52,625
Expenses
Property operating									1,983	1,147	394
General and administrative									5,567	4,731	5,286
Acquisition-related									1,163	3,287	1,287
Amortization									14,235	16,152	13,537
Impairments									2,288	1,559	848
Total expenses									25,236	26,876	21,352
Total other income and expenses									(8,715)	78,159	(15,142)
Income before income tax expense (benefit)									25,389	116,048	16,131
Income tax expense (benefit)									3,783	227	(3,145)
Net income	$ 1,145	$ 3,986	$ 9,265	$ 7,210	$ (2,172)	$ 105,147	$ 6,105	$ 6,741	21,606	115,821	19,276
Operating Segments | Wireless Communication
Revenue
Rental revenue									29,713	37,879	33,456
Expenses
Property operating									289	258	22
Acquisition-related											22
Amortization									9,508	11,902	10,898
Impairments									1,846	1,169	645
Total expenses									11,643	13,329	11,587
Total other income and expenses									11,684	105,479	698
Income before income tax expense (benefit)									29,754	130,029	22,567
Net income									29,754	130,029	22,567
Operating Segments | Outdoor Advertising
Revenue
Rental revenue									21,135	18,820	11,367
Expenses
Property operating									1,275	681	228
Acquisition-related											230
Amortization									4,198	3,578	2,070
Impairments									442	390	203
Total expenses									5,915	4,649	2,731
Total other income and expenses									502	242	144
Income before income tax expense (benefit)									15,722	14,413	8,780
Net income									15,722	14,413	8,780
Operating Segments | Renewable Power Generation
Revenue
Rental revenue									8,492	8,066	7,802
Expenses
Property operating									419	208	144
Amortization									529	672	569
Total expenses									948	880	713
Total other income and expenses									7,062	811	740
Income before income tax expense (benefit)									14,606	7,997	7,829
Net income									14,606	7,997	7,829
Corporate
Expenses
General and administrative									5,567	4,731	5,286
Acquisition-related									1,163	3,287	1,035
Total expenses									6,730	8,018	6,321
Total other income and expenses									(27,963)	(28,373)	(16,724)
Income before income tax expense (benefit)									(34,693)	(36,391)	(23,045)
Income tax expense (benefit)									3,783	227	(3,145)
Net income									$ (38,476)	$ (36,618)	$ (19,900)

Segment Information - Total Ass

Segment Information - Total Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Asset Reconciling Item [Line Items]
Assets	$ 855,605	$ 786,613
Corporate
Segment Reporting Asset Reconciling Item [Line Items]
Assets	19,419	24,695
Wireless Communication | Operating Segments
Segment Reporting Asset Reconciling Item [Line Items]
Assets	452,127	433,254
Outdoor Advertising | Operating Segments
Segment Reporting Asset Reconciling Item [Line Items]
Assets	284,203	216,326
Renewable Power Generation | Operating Segments
Segment Reporting Asset Reconciling Item [Line Items]
Assets	$ 99,856	$ 112,338

Segment Information - Schedule

Segment Information - Schedule of Rental Revenues by Geographic Location (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Asset Reconciling Item [Line Items]
Rental revenue	$ 15,520	$ 14,402	$ 15,025	$ 14,393	$ 14,714	$ 17,560	$ 16,796	$ 15,695	$ 59,340	$ 64,765	$ 52,625
United States
Segment Reporting Asset Reconciling Item [Line Items]
Rental revenue									52,447	60,441	51,144
Europe
Segment Reporting Asset Reconciling Item [Line Items]
Rental revenue									5,639	3,356	814
Australia
Segment Reporting Asset Reconciling Item [Line Items]
Rental revenue									1,189	910	614
Canada
Segment Reporting Asset Reconciling Item [Line Items]
Rental revenue									$ 65	$ 58	$ 53

Segment Information - Schedul_2

Segment Information - Schedule of Total Assets by Geographic Location (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Asset Reconciling Item [Line Items]
Assets	$ 855,605	$ 786,613
United States
Segment Reporting Asset Reconciling Item [Line Items]
Assets	726,343	720,331
Europe
Segment Reporting Asset Reconciling Item [Line Items]
Assets	114,448	53,850
Australia
Segment Reporting Asset Reconciling Item [Line Items]
Assets	13,926	11,830
Canada
Segment Reporting Asset Reconciling Item [Line Items]
Assets	$ 888	$ 602

Commitments and Contingencies -

Commitments and Contingencies - Real Property Interest Subject to Subordination (Details) $ in Millions	Dec. 31, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
Real property interest subject to subordination	$ 65.4

Tenant Concentration (Details)

Tenant Concentration (Details) - Concentration - Tenant Revenue	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Clear Channel Outdoor
Concentration Risk [Line Items]
Percentage of revenue	13.30%	11.60%	8.80%
T-Mobile
Concentration Risk [Line Items]
Percentage of revenue	8.40%	9.60%	11.70%
AT&T Mobility
Concentration Risk [Line Items]
Percentage of revenue	7.10%	9.30%	11.00%
Sprint
Concentration Risk [Line Items]
Percentage of revenue	5.80%	7.80%	9.50%

Income Taxes - Summary of Conso

Income Taxes - Summary of Consolidated Partnership Income Before Income Tax Expense (Benefit) by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Domestic	$ 21,076	$ 116,045	$ 15,259
Foreign	4,313	3	872
Income before income tax expense (benefit)	$ 25,389	$ 116,048	$ 16,131

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current
Domestic	$ 2,397	$ (10)
Foreign	725	15	$ 70
Deferred
Domestic	718	370	(3,215)
Foreign	(57)	(148)
Income tax expense (benefit)	$ 3,783	$ 227	$ (3,145)

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Valuation Allowance [Line Items]
Statutory federal income tax rate (as a percent)	21.00%	21.00%	34.00%
Foreign income tax rates, low end of range (as a percent)	15.00%	15.00%	15.00%
Foreign income tax rates, high end of range (as a percent)	39.00%	39.00%	39.00%
Deferred tax assets	$ 2,300,000	$ 3,000,000
Reduction in valuation allowance			$ 5,300,000
Valuation allowance		0	5,300,000
NOL carryforward		400,000	100,000
Maximum
Valuation Allowance [Line Items]
Decrease in deferred tax asset		100,000
Deferred tax asset before valuation allowance		$ 100,000	$ 100,000

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation Between U.S. Statutory Rate and Effective Rate from Income Before Income Tax Expense (Benefit) (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Statutory federal income tax rate (as a percent)	21.00%	21.00%	34.00%
Adjustment to reflect MLP/REIT status	(10.00%)	(21.00%)	(29.00%)
Foreign taxes	3.00%
Valuation allowance			(32.00%)
Change in tax law			9.00%
Other	1.00%		(1.00%)
Effective tax rate	15.00%		(19.00%)

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended							12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Noncash activities
Capital contribution to fund general and administrative expense reimbursement								$ 896	$ 1,733	$ 491
Issuance of common units for Acquired Funds									7,700	3,800
Distributions payable to preferred unitholders								1,781	1,710	1,296
Deferred loan costs included in accounts payable and accrued liabilities										285
Accretion of Series C preferred units								641
Conversion of Series C preferred units								283
Purchase price for acquisitions and development activities included in accounts payable								157	2,878	642
Investment in unconsolidated joint venture									(65,611)
Total assets contributed to unconsolidated joint venture									157,045
Total liabilities contributed to unconsolidated joint venture									(125,888)
Declared distributions receivable from the unconsolidated joint venture								(600)
Initial recognition of lease liabilities related to right of use assets								11,177
Deemed contribution by the General Partner								788	394
Deemed distribution to the General Partner								(788)	(394)
Cash flows related to interest paid
Cash paid for interest								14,855	20,882	15,797
Capitalized interest								2,003	759	48
Income taxes paid								2,839	76	28
Preferred Units Series C
Noncash activities
Accretion of Series C preferred units								641
Conversion of Series C preferred units								$ 283
Landmark, General Partner and affiliates
Noncash activities
Purchase price for acquisitions included in due to Landmark and affiliates									436	196
Drop-down Acquisitions
Noncash activities
Issuance of common units for Acquired Funds									27,342	3,492
Unit Exchange Acquisitions
Noncash activities
Issuance of common units for Acquired Funds	$ 900	$ 1,800	$ 1,800	$ 3,200	$ 2,700	$ 1,000	$ 100
Unit Exchange Program acquisitions									$ 7,582	$ 3,816

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Limited Partners Capital Account [Line Items]
Total rental revenue	$ 15,520	$ 14,402	$ 15,025	$ 14,393	$ 14,714	$ 17,560	$ 16,796	$ 15,695	$ 59,340	$ 64,765	$ 52,625
Net income	1,145	3,986	9,265	7,210	(2,172)	105,147	6,105	6,741	21,606	115,821	19,276
Less: Net income attributable to noncontrolling interest	8	7	8	8	7	8	8	4	31	27	19
Net income attributable to limited partners	$ 1,137	$ 3,979	$ 9,257	$ 7,202	$ (2,179)	$ 105,139	$ 6,097	$ 6,737	$ 21,575	$ 115,794	$ 19,257
Net income (loss) per common and subordinated unit
Common units – basic									$ 0.33	$ 4.25	$ 0.54
Common units – diluted									0.33	3.97	0.53
Subordinated units – basic and diluted										(0.78)	0.50
Cash distribution declared per unit	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675	$ 0.3675
Common Units
Net income (loss) per common and subordinated unit
Common units – basic	(0.08)	0.03	0.23	0.15	(0.21)	4.06	0.12	0.21	0.33	4.25	0.54
Common units – diluted	$ (0.08)	$ 0.03	$ 0.23	$ 0.15	$ (0.21)	$ 3.71	$ 0.12	0.19	$ 0.33	3.97	0.53
Subordinated Units
Net income (loss) per common and subordinated unit
Common units – basic										(0.78)	0.50
Common units – diluted										$ (0.78)	$ 0.50
Subordinated units – basic and diluted								$ (0.19)

Subsequent Events - General Inf

Subsequent Events - General Information (Details) - USD ($) shares in Thousands, $ in Millions	Feb. 27, 2020	Jan. 15, 2020	Jun. 06, 2018	Jun. 16, 2016	Dec. 31, 2019
Senior Secured Revolving Credit Facility
Subsequent Event [Line Items]
Maturity Date					Nov. 15, 2023
Repayment of debt			$ 120.5	$ 112.3
Subsequent Event | ATM Programs
Subsequent Event [Line Items]
Proceeds from issuance of unit, before costs	$ 4.5
Subsequent Event | Common Units | ATM Programs
Subsequent Event [Line Items]
Issuance of Units, net (in units)	109,724
Subsequent Event | Preferred Units Series A | ATM Programs
Subsequent Event [Line Items]
Issuance of Units, net (in units)	23,287
Subsequent Event | Preferred Units Series B | ATM Programs
Subsequent Event [Line Items]
Issuance of Units, net (in units)	84,139
Subsequent Event | Series A Senior Secured Notes
Subsequent Event [Line Items]
Aggregate principal amount		$ 170
Interest rate (as a percent)		3.90%
Maturity Date		Jan. 14, 2027
Interest-only initial term		3 years
Standby letter of credit amount		$ 3.4
Subsequent Event | 2016 Secured Notes
Subsequent Event [Line Items]
Repayment of debt		108
Subsequent Event | Senior Secured Revolving Credit Facility
Subsequent Event [Line Items]
Repayment of debt		$ 59

SCHEDULE III - REAL ESTATE AN_2

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Real Estate and Accumulated Depreciation by Property (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Initial cost to the Partnership
Land	$ 141,851
Building and improvements	51,828
Total	193,679
Gross Amount at Which Carried at End of Period
Land	141,851
Building and improvements	51,828
Total	193,679	$ 163,461	$ 119,539	$ 88,845
Accumulated depreciation	(1,624)	$ (623)	$ (13)
Wireless Communication | Wireless Communication, Mound House, NV, 2012, 01
Initial cost to the Partnership
Land	100
Total	100
Gross Amount at Which Carried at End of Period
Land	100
Total	100
Wireless Communication | Wireless Communication, Las Vegas, NV, 2012, 01
Initial cost to the Partnership
Land	536
Total	536
Gross Amount at Which Carried at End of Period
Land	536
Total	536
Wireless Communication | Wireless Communication, Tombstone, AZ, 2012, 01
Initial cost to the Partnership
Land	593
Total	593
Gross Amount at Which Carried at End of Period
Land	593
Total	593
Wireless Communication | Wireless Communication, Walnut Creek, CA, 2013, 01
Initial cost to the Partnership
Land	705
Total	705
Gross Amount at Which Carried at End of Period
Land	705
Total	705
Wireless Communication | Wireless Communication, Los Angeles, CA, 2013, 01
Initial cost to the Partnership
Land	331
Total	331
Gross Amount at Which Carried at End of Period
Land	331
Total	331
Wireless Communication | Wireless Communication, Orlando, FL, 2014, 01
Initial cost to the Partnership
Land	531
Total	531
Gross Amount at Which Carried at End of Period
Land	531
Total	531
Wireless Communication | Wireless Communication, Mary Esther, FL, 2015, 01
Initial cost to the Partnership
Land	262
Total	262
Gross Amount at Which Carried at End of Period
Land	262
Total	262
Wireless Communication | Wireless Communication, Milwaukee, WI, 2015, 01
Initial cost to the Partnership
Land	273
Total	273
Gross Amount at Which Carried at End of Period
Land	273
Total	273
Wireless Communication | Wireless Communication, Appleton, WI, 2017, 01
Initial cost to the Partnership
Land	594
Total	594
Gross Amount at Which Carried at End of Period
Land	594
Total	594
Wireless Communication | Wireless Communication, Encounter Bay, South Australia, 2017, 01
Initial cost to the Partnership
Land	253
Total	253
Gross Amount at Which Carried at End of Period
Land	253
Total	253
Wireless Communication | Wireless Communication, Austin, TX, 2017, 01
Initial cost to the Partnership
Land	745
Building and improvements	3,701
Total	4,446
Gross Amount at Which Carried at End of Period
Land	745
Building and improvements	3,701
Total	4,446
Accumulated depreciation	(189)
Wireless Communication | Wireless Communication, Charlotte, NC, 2017, 01
Initial cost to the Partnership
Land	106
Building and improvements	394
Total	500
Gross Amount at Which Carried at End of Period
Land	106
Building and improvements	394
Total	500
Accumulated depreciation	(20)
Wireless Communication | Wireless Communication, Mars Hill, NC, 2017, 01
Initial cost to the Partnership
Land	117
Total	117
Gross Amount at Which Carried at End of Period
Land	117
Total	117
Wireless Communication | Wireless Communication, Omaha, NE, 2018, 01
Initial cost to the Partnership
Land	2,660
Building and improvements	11,895
Total	14,555
Gross Amount at Which Carried at End of Period
Land	2,660
Building and improvements	11,895
Total	14,555
Accumulated depreciation	(533)
Wireless Communication | Wireless Communication, Hartland, WI, 2018, 01
Initial cost to the Partnership
Land	1,250
Building and improvements	18,110
Total	19,360
Gross Amount at Which Carried at End of Period
Land	1,250
Building and improvements	18,110
Total	19,360
Accumulated depreciation	(696)
Wireless Communication | Wireless Communication, Wiley Park, New South Wales, 2018, 01
Initial cost to the Partnership
Land	335
Total	335
Gross Amount at Which Carried at End of Period
Land	335
Total	335
Wireless Communication | Wireless Communication, Franklin, MA, 2018, 01
Initial cost to the Partnership
Land	1,440
Total	1,440
Gross Amount at Which Carried at End of Period
Land	1,440
Total	1,440
Wireless Communication | Wireless Communication, Marlborough, Massachusetts, 2019 01
Initial cost to the Partnership
Land	1,420
Building and improvements	8,726
Total	10,146
Gross Amount at Which Carried at End of Period
Land	1,420
Building and improvements	8,726
Total	10,146
Accumulated depreciation	(63)
Wireless Communication | Wireless Communication Marlborough, Massachusetts, 2019 02
Initial cost to the Partnership
Land	1,712
Building and improvements	7,942
Total	9,654
Gross Amount at Which Carried at End of Period
Land	1,712
Building and improvements	7,942
Total	9,654
Accumulated depreciation	(59)
Outdoor Advertising | Outdoor Advertising, Rosemont, IL, 2013, 01
Initial cost to the Partnership
Land	971
Total	971
Gross Amount at Which Carried at End of Period
Land	971
Total	971
Outdoor Advertising | Outdoor Advertising, Gary, IN, 2013, 01
Initial cost to the Partnership
Land	119
Total	119
Gross Amount at Which Carried at End of Period
Land	119
Total	119
Outdoor Advertising | Outdoor Advertising, Largo, FL, 2014, 01
Initial cost to the Partnership
Land	168
Total	168
Gross Amount at Which Carried at End of Period
Land	168
Total	168
Outdoor Advertising | Outdoor Advertising, Grand Prairie, TX, 2014, 01
Initial cost to the Partnership
Land	301
Total	301
Gross Amount at Which Carried at End of Period
Land	301
Total	301
Outdoor Advertising | Outdoor Advertising, Terrell, TX, 2014, 01
Initial cost to the Partnership
Land	48
Total	48
Gross Amount at Which Carried at End of Period
Land	48
Total	48
Outdoor Advertising | Outdoor Advertising, Phoenix, AZ, 2014, 01
Initial cost to the Partnership
Land	321
Total	321
Gross Amount at Which Carried at End of Period
Land	321
Total	321
Outdoor Advertising | Outdoor Advertising, Houston, TX, 2014, 01
Initial cost to the Partnership
Land	258
Total	258
Gross Amount at Which Carried at End of Period
Land	258
Total	258
Outdoor Advertising | Outdoor Advertising, Saint Petersburg, FL, 2014, 01
Initial cost to the Partnership
Land	200
Total	200
Gross Amount at Which Carried at End of Period
Land	200
Total	200
Outdoor Advertising | Outdoor Advertising, Vadnais Heights, MN, 2014, 01
Initial cost to the Partnership
Land	390
Total	390
Gross Amount at Which Carried at End of Period
Land	390
Total	390
Outdoor Advertising | Outdoor Advertising, Consett, UK, 2019, 01
Initial cost to the Partnership
Land	20
Total	20
Gross Amount at Which Carried at End of Period
Land	20
Total	20
Outdoor Advertising | Outdoor Advertising, Chattanooga, TN, 2014, 01
Initial cost to the Partnership
Land	73
Total	73
Gross Amount at Which Carried at End of Period
Land	73
Total	73
Outdoor Advertising | Outdoor Advertising, Monroe, MI, 2014, 01
Initial cost to the Partnership
Land	447
Total	447
Gross Amount at Which Carried at End of Period
Land	447
Total	447
Outdoor Advertising | Outdoor Advertising, Mary Esther, FL, 2015, 01
Initial cost to the Partnership
Land	22
Total	22
Gross Amount at Which Carried at End of Period
Land	22
Total	22
Outdoor Advertising | Outdoor Advertising, Phoenix, AZ, 2015, 01
Initial cost to the Partnership
Land	325
Total	325
Gross Amount at Which Carried at End of Period
Land	325
Total	325
Outdoor Advertising | Outdoor Advertising, London, UK, 2016, 01
Initial cost to the Partnership
Land	3,692
Total	3,692
Gross Amount at Which Carried at End of Period
Land	3,692
Total	3,692
Outdoor Advertising | Outdoor Advertising, Homebush West, New South Wales, 2016, 01
Initial cost to the Partnership
Land	476
Total	476
Gross Amount at Which Carried at End of Period
Land	476
Total	476
Outdoor Advertising | Outdoor Advertising, Golden Square, Victoria, 2016, 01
Initial cost to the Partnership
Land	244
Total	244
Gross Amount at Which Carried at End of Period
Land	244
Total	244
Outdoor Advertising | Outdoor Advertising, Forbes, New South Wales, 2016, 01
Initial cost to the Partnership
Land	30
Total	30
Gross Amount at Which Carried at End of Period
Land	30
Total	30
Outdoor Advertising | Outdoor Advertising, Glasgow, UK, 2017, 01
Initial cost to the Partnership
Land	3,903
Total	3,903
Gross Amount at Which Carried at End of Period
Land	3,903
Total	3,903
Outdoor Advertising | Outdoor Advertising, Salford, UK, 2017, 01
Initial cost to the Partnership
Land	273
Total	273
Gross Amount at Which Carried at End of Period
Land	273
Total	273
Outdoor Advertising | Outdoor Advertising, Leeds, UK, 2017, 01
Initial cost to the Partnership
Land	517
Total	517
Gross Amount at Which Carried at End of Period
Land	517
Total	517
Outdoor Advertising | Outdoor Advertising, Leeds, UK, 2017, 02
Initial cost to the Partnership
Land	2,564
Total	2,564
Gross Amount at Which Carried at End of Period
Land	2,564
Total	2,564
Outdoor Advertising | Outdoor Advertising, London, UK, 2017, 01
Initial cost to the Partnership
Land	3,318
Total	3,318
Gross Amount at Which Carried at End of Period
Land	3,318
Total	3,318
Outdoor Advertising | Outdoor Advertising, Liverpool, UK, 2017, 01
Initial cost to the Partnership
Land	671
Total	671
Gross Amount at Which Carried at End of Period
Land	671
Total	671
Outdoor Advertising | Outdoor Advertising, Barnet, UK, 2017, 01
Initial cost to the Partnership
Land	497
Total	497
Gross Amount at Which Carried at End of Period
Land	497
Total	497
Outdoor Advertising | Outdoor Advertising, Bristol, UK, 2017, 01
Initial cost to the Partnership
Land	5,752
Total	5,752
Gross Amount at Which Carried at End of Period
Land	5,752
Total	5,752
Outdoor Advertising | Outdoor Advertising, Orlando, FL, 2018, 01
Initial cost to the Partnership
Land	179
Total	179
Gross Amount at Which Carried at End of Period
Land	179
Total	179
Outdoor Advertising | Outdoor Advertising, Boston, MA, 2018, 01
Initial cost to the Partnership
Land	480
Total	480
Gross Amount at Which Carried at End of Period
Land	480
Total	480
Outdoor Advertising | Outdoor Advertising, Dallas, TX, 2018, 01
Initial cost to the Partnership
Land	455
Total	455
Gross Amount at Which Carried at End of Period
Land	455
Total	455
Outdoor Advertising | Outdoor Advertising, Lithonia, GA, 2018, 01
Initial cost to the Partnership
Land	184
Total	184
Gross Amount at Which Carried at End of Period
Land	184
Total	184
Outdoor Advertising | Outdoor Advertising, Tampa, FL, 2018, 01
Initial cost to the Partnership
Land	248
Total	248
Gross Amount at Which Carried at End of Period
Land	248
Total	248
Outdoor Advertising | Outdoor Advertising, Manchester, UK, 2018, 01
Initial cost to the Partnership
Land	176
Total	176
Gross Amount at Which Carried at End of Period
Land	176
Total	176
Outdoor Advertising | Outdoor Advertising, Wallangarra,Queensland, 2018, 01
Initial cost to the Partnership
Land	24
Total	24
Gross Amount at Which Carried at End of Period
Land	24
Total	24
Outdoor Advertising | Outdoor Advertising, Capalaba, Queensland 2018, 01
Initial cost to the Partnership
Land	470
Total	470
Gross Amount at Which Carried at End of Period
Land	470
Total	470
Outdoor Advertising | Outdoor Advertising, Liverpool, UK, 2018, 01
Initial cost to the Partnership
Land	121
Total	121
Gross Amount at Which Carried at End of Period
Land	121
Total	121
Outdoor Advertising | Outdoor Advertising, Edinburgh, UK, 2018, 01
Initial cost to the Partnership
Land	272
Total	272
Gross Amount at Which Carried at End of Period
Land	272
Total	272
Outdoor Advertising | Outdoor Advertising, Cardiff, UK, 2018, 01
Initial cost to the Partnership
Land	3,252
Total	3,252
Gross Amount at Which Carried at End of Period
Land	3,252
Total	3,252
Outdoor Advertising | Outdoor Advertising, Manchester, UK, 2018, 01
Initial cost to the Partnership
Land	70
Total	70
Gross Amount at Which Carried at End of Period
Land	70
Total	70
Outdoor Advertising | Outdoor Advertising, Barrow-in-Furness, UK, 2018, 01
Initial cost to the Partnership
Land	87
Total	87
Gross Amount at Which Carried at End of Period
Land	87
Total	87
Outdoor Advertising | Outdoor Advertising, Milsons Point, New South Wales, 2018, 01
Initial cost to the Partnership
Land	3,502
Total	3,502
Gross Amount at Which Carried at End of Period
Land	3,502
Total	3,502
Outdoor Advertising | Outdoor Advertising, Stockton-On-Tees, UK, 2018, 01
Initial cost to the Partnership
Land	47
Total	47
Gross Amount at Which Carried at End of Period
Land	47
Total	47
Outdoor Advertising | Outdoor Advertising, Brighton, MI, 2018, 01
Initial cost to the Partnership
Land	64
Total	64
Gross Amount at Which Carried at End of Period
Land	64
Total	64
Outdoor Advertising | Outdoor Advertising, Birkenhead, UK, 2018, 01
Initial cost to the Partnership
Land	17
Total	17
Gross Amount at Which Carried at End of Period
Land	17
Total	17
Outdoor Advertising | Outdoor Advertising, Birmingham, UK, 2018, 01
Initial cost to the Partnership
Land	18
Total	18
Gross Amount at Which Carried at End of Period
Land	18
Total	18
Outdoor Advertising | Outdoor Advertising, Glasgow, UK, 2018, 01
Initial cost to the Partnership
Land	157
Total	157
Gross Amount at Which Carried at End of Period
Land	157
Total	157
Outdoor Advertising | Outdoor Advertising, Barrhead, UK, 2018, 01
Initial cost to the Partnership
Land	20
Total	20
Gross Amount at Which Carried at End of Period
Land	20
Total	20
Outdoor Advertising | Outdoor Advertising, Manchester, UK, 2018, 01
Initial cost to the Partnership
Land	47
Total	47
Gross Amount at Which Carried at End of Period
Land	47
Total	47
Outdoor Advertising | Outdoor Advertising, Stretford, UK, 2018, 01
Initial cost to the Partnership
Land	27
Total	27
Gross Amount at Which Carried at End of Period
Land	27
Total	27
Outdoor Advertising | Outdoor Advertising, Barnsley, UK, 2018, 01
Initial cost to the Partnership
Land	111
Total	111
Gross Amount at Which Carried at End of Period
Land	111
Total	111
Outdoor Advertising | Outdoor Advertising, London, UK, 2018, 01
Initial cost to the Partnership
Land	1
Total	1
Gross Amount at Which Carried at End of Period
Land	1
Total	1
Outdoor Advertising | Outdoor Advertising, Birmingham, UK, 2019, 01
Initial cost to the Partnership
Land	115
Total	115
Gross Amount at Which Carried at End of Period
Land	115
Total	115
Outdoor Advertising | Outdoor Advertising, Glasgow, UK, 2019, 01
Initial cost to the Partnership
Land	107
Total	107
Gross Amount at Which Carried at End of Period
Land	107
Total	107
Outdoor Advertising | Outdoor Advertising, Glasgow, UK, 2019, 02
Initial cost to the Partnership
Land	114
Total	114
Gross Amount at Which Carried at End of Period
Land	114
Total	114
Outdoor Advertising | Outdoor Advertising, Glasgow, UK, 2019, 03
Initial cost to the Partnership
Land	121
Total	121
Gross Amount at Which Carried at End of Period
Land	121
Total	121
Outdoor Advertising | Outdoor Advertising, Glasgow, UK, 2019, 04
Initial cost to the Partnership
Land	80
Total	80
Gross Amount at Which Carried at End of Period
Land	80
Total	80
Outdoor Advertising | Outdoor Advertising Airdrie, UK, 2019, 01
Initial cost to the Partnership
Land	105
Total	105
Gross Amount at Which Carried at End of Period
Land	105
Total	105
Outdoor Advertising | Outdoor Advertising New Stevenson, UK, 2019, 01
Initial cost to the Partnership
Land	108
Total	108
Gross Amount at Which Carried at End of Period
Land	108
Total	108
Outdoor Advertising | Outdoor Advertising Paisley, UK, 2019, 01
Initial cost to the Partnership
Land	258
Total	258
Gross Amount at Which Carried at End of Period
Land	258
Total	258
Outdoor Advertising | Outdoor Advertising Falkirk, UK, 2019, 01
Initial cost to the Partnership
Land	191
Total	191
Gross Amount at Which Carried at End of Period
Land	191
Total	191
Outdoor Advertising | Outdoor Advertising Falkirk, UK, 2019, 02
Initial cost to the Partnership
Land	76
Total	76
Gross Amount at Which Carried at End of Period
Land	76
Total	76
Outdoor Advertising | Outdoor Advertising Edinburgh, UK, 2019, 01
Initial cost to the Partnership
Land	114
Total	114
Gross Amount at Which Carried at End of Period
Land	114
Total	114
Outdoor Advertising | Outdoor Advertising Greenock, UK, 2019, 01
Initial cost to the Partnership
Land	153
Total	153
Gross Amount at Which Carried at End of Period
Land	153
Total	153
Outdoor Advertising | Outdoor Advertising, Glasgow, UK, 2019, 05
Initial cost to the Partnership
Land	305
Total	305
Gross Amount at Which Carried at End of Period
Land	305
Total	305
Outdoor Advertising | Outdoor Advertising Edinburgh, UK, 2019, 02
Initial cost to the Partnership
Land	68
Total	68
Gross Amount at Which Carried at End of Period
Land	68
Total	68
Outdoor Advertising | Outdoor Advertising Paisley, UK, 2019, 02
Initial cost to the Partnership
Land	110
Total	110
Gross Amount at Which Carried at End of Period
Land	110
Total	110
Outdoor Advertising | Outdoor Advertising, Glasgow, UK, 2019, 06
Initial cost to the Partnership
Land	107
Total	107
Gross Amount at Which Carried at End of Period
Land	107
Total	107
Outdoor Advertising | Outdoor Advertising Manchester, UK, 2019, 01
Initial cost to the Partnership
Land	4,912
Total	4,912
Gross Amount at Which Carried at End of Period
Land	4,912
Total	4,912
Outdoor Advertising | Outdoor Advertising Dublin, Ireland, 2019, 01
Initial cost to the Partnership
Land	425
Total	425
Gross Amount at Which Carried at End of Period
Land	425
Total	425
Outdoor Advertising | Outdoor Advertising Limerick, Ireland, 2019, 01
Initial cost to the Partnership
Land	72
Total	72
Gross Amount at Which Carried at End of Period
Land	72
Total	72
Outdoor Advertising | Outdoor Advertising Dundalk, Ireland, 2019, 01
Initial cost to the Partnership
Land	56
Total	56
Gross Amount at Which Carried at End of Period
Land	56
Total	56
Outdoor Advertising | Outdoor Advertising Dublin, Ireland, 2019, 02
Initial cost to the Partnership
Land	636
Total	636
Gross Amount at Which Carried at End of Period
Land	636
Total	636
Outdoor Advertising | Outdoor Advertising Coatbridge, UK, 2019, 01
Initial cost to the Partnership
Land	138
Total	138
Gross Amount at Which Carried at End of Period
Land	138
Total	138
Outdoor Advertising | Outdoor Advertising Wakefield, UK, 2019, 01
Initial cost to the Partnership
Land	77
Total	77
Gross Amount at Which Carried at End of Period
Land	77
Total	77
Outdoor Advertising | Outdoor Advertising Slaithwaite, UK, 2019, 01
Initial cost to the Partnership
Land	78
Total	78
Gross Amount at Which Carried at End of Period
Land	78
Total	78
Outdoor Advertising | Outdoor Advertising, Glasgow, UK, 2019, 07
Initial cost to the Partnership
Land	79
Total	79
Gross Amount at Which Carried at End of Period
Land	79
Total	79
Outdoor Advertising | Outdoor Advertising, London, UK, 2019, 01
Initial cost to the Partnership
Land	18
Total	18
Gross Amount at Which Carried at End of Period
Land	18
Total	18
Outdoor Advertising | Outdoor Advertising, Coventry, UK, 2019, 01
Initial cost to the Partnership
Land	18
Total	18
Gross Amount at Which Carried at End of Period
Land	18
Total	18
Outdoor Advertising | Outdoor Advertising, Maestg, UK, 2019, 01
Initial cost to the Partnership
Land	20
Total	20
Gross Amount at Which Carried at End of Period
Land	20
Total	20
Renewable Power Generation | Renewable Power Generation, West Deptford, NJ, 2015, 01
Initial cost to the Partnership
Land	1,812
Total	1,812
Gross Amount at Which Carried at End of Period
Land	1,812
Total	1,812
Renewable Power Generation | Renewable Power Generation, West Chicago, IL, 2015, 01
Initial cost to the Partnership
Land	1,275
Total	1,275
Gross Amount at Which Carried at End of Period
Land	1,275
Total	1,275
Renewable Power Generation | Renewable Power Generation, Joliet, IL, 2015, 01
Initial cost to the Partnership
Land	1,275
Total	1,275
Gross Amount at Which Carried at End of Period
Land	1,275
Total	1,275
Renewable Power Generation | Renewable Power Generation, Hubbardston, MA, 2015, 01
Initial cost to the Partnership
Land	1,229
Total	1,229
Gross Amount at Which Carried at End of Period
Land	1,229
Total	1,229
Renewable Power Generation | Renewable Power Generation, Valley Center, CA, 2016, 01
Initial cost to the Partnership
Land	880
Total	880
Gross Amount at Which Carried at End of Period
Land	880
Total	880
Renewable Power Generation | Renewable Power Generation, Rosamond, CA, 2016, 01
Initial cost to the Partnership
Land	3,215
Total	3,215
Gross Amount at Which Carried at End of Period
Land	3,215
Total	3,215
Renewable Power Generation | Renewable Power Generation, Rosamond, CA, 2016, 02
Initial cost to the Partnership
Land	41,506
Total	41,506
Gross Amount at Which Carried at End of Period
Land	41,506
Total	41,506
Renewable Power Generation | Renewable Power Generation, Rosamond, CA, 2016, 03
Initial cost to the Partnership
Land	14,136
Total	14,136
Gross Amount at Which Carried at End of Period
Land	14,136
Total	14,136
Renewable Power Generation | Renewable Power Generation, Lemoore, CA, 2016, 01
Initial cost to the Partnership
Land	11,268
Total	11,268
Gross Amount at Which Carried at End of Period
Land	11,268
Total	11,268
Renewable Power Generation | Renewable Power Generation, Jacksonville, FL, 2016, 01
Initial cost to the Partnership
Land	646
Total	646
Gross Amount at Which Carried at End of Period
Land	646
Total	646
Renewable Power Generation | Renewable Power Generation, Florence Township, NJ, 2017, 01
Initial cost to the Partnership
Land	2,200
Total	2,200
Gross Amount at Which Carried at End of Period
Land	2,200
Total	2,200
Renewable Power Generation | Renewable Power Generation, Pemberton, NJ, 2017, 01
Initial cost to the Partnership
Land	1,092
Total	1,092
Gross Amount at Which Carried at End of Period
Land	1,092
Total	1,092
Renewable Power Generation | Renewable Power Generation, Ringoes, NJ, 2017, 01
Initial cost to the Partnership
Land	2,113
Total	2,113
Gross Amount at Which Carried at End of Period
Land	2,113
Total	2,113
Renewable Power Generation | Renewable Power Generation, Tehachapi, CA, 2017, 01
Initial cost to the Partnership
Building and improvements	1,060
Total	1,060
Gross Amount at Which Carried at End of Period
Building and improvements	1,060
Total	1,060
Accumulated depreciation	(64)
Renewable Power Generation | Renewable Power Generation Rockwell, North Carolina, 2019, 01
Initial cost to the Partnership
Land	469
Total	469
Gross Amount at Which Carried at End of Period
Land	469
Total	469
Renewable Power Generation | Renewable Power Generation Trinity, North Carolina, 2019, 01
Initial cost to the Partnership
Land	482
Total	482
Gross Amount at Which Carried at End of Period
Land	482
Total	$ 482

SCHEDULE III - REAL ESTATE AN_3

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Aggregate Cost of Real Estate for Federal Income Tax Purposes (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
Aggregate cost of real estate for federal income tax purposes	$ 292.1
Building and improvements computes depreciation using the straight-line method	40 years
Weighted average for improvements	8 years

SCHEDULE III - REAL ESTATE AN_4

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Summary of Activity for Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real estate:
Balances at beginning of year	$ 163,461	$ 119,539	$ 88,845
Acquisitions of real estate	58,088	52,290	30,305
Sales and transfers to assets held for sale	(28,624)	(7,044)
Other	754	(1,324)	389
Balances at end of year	193,679	163,461	119,539
Accumulated depreciation:
Balances at beginning of year	623	13
Depreciation expense	1,001	681	13
Sales and transfers to assets held for sale		(71)
Balances at end of year	$ 1,624	$ 623	$ 13