EL SEGUNDO, CA (January 1, 2014) – In a constant effort to create value for its clients, Landmark Dividend, the national leader in ground lease acquisitions, is proud to announce it has closed a significant transaction with Stellar Outdoor Media (Stellar). In this particular transaction Landmark further showcased its ability to tailor solutions that not only meet, but exceed the expectations of its clients. The solution freed up capital allowing the client to reinvest the proceeds and generate greater revenues and higher returns.
Stellar, a mid-sized outdoor media company with approximately 1,500 faces throughout the Southern and Midwestern United States, required capital to upgrade an existing billboard to digital. Landmark Dividend’s Vice President of Acquisitions Scott Furcolow, who structured the transaction said, “My intention was to explore Landmark’s ability to work outside the box. We [Landmark] provided the capital necessary to convert the billboard to digital, and in return, Stellar created a ground lease [that did not previously exist on the site] with lease payments going to Landmark, as the leaseholder.”
Mr. Furcolow added, “Landmark unlocked hidden value for Stellar so they could expand their digital footprint, thereby increasing their ability to generate greater revenues and higher returns, without having to source expensive outside capital or incur unnecessary expenses.” Mike Fleming, Stellar’s CEO during the conversion, said, “Were it not for Landmark Dividend assisting us in finding a solution, we would have lost the location.” Mr. Fleming went on to state, “We not only maintained our location, but upgraded it to digital. As a result, we anticipate a 300% revenue increase on this single location.”