Lamar Advertising Company (LAMR) announced the acquisition of Verde Outdoor’s assets in the billboard industry’s first-ever UPREIT transaction.
The deal closed on July 2 and added over 1,500 billboard faces, including 80 digital displays, to Lamar’s portfolio.
These billboards are located across 10 states. The UPREIT structure enables Lamar to issue partnership units of Lamar LP to billboard owners on a tax-deferred basis during acquisitions.
