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Acquisitions
9 Months Ended
Sep. 30, 2019
Acquisitions [Abstract]  
Acquisitions 5.ACQUISITIONS

The following table summarizes the Company’s acquisition activity:

For the three months

For the nine months

ended September 30,

ended September 30,

2019

2018

2019

2018

(in thousands)

Acquisitions of towers and related intangible assets (1) (2)

$

99,173

$

110,464

$

224,585

$

372,054

Land buyouts and other assets (3)

33,346

8,008

59,116

31,781

Total cash acquisition capital expenditures

$

132,519

$

118,472

$

283,701

$

403,835

(1)The nine months ended September 30, 2019 excludes $1.7 million of acquisition costs funded through the issuance of 10,000 shares of Class A common stock.

(2)On August 30, 2019, the Company acquired an additional interest of a previously unconsolidated joint venture in South Africa which resulted in the consolidation of the entity. The cash consideration is included herein. Furthermore, the three and nine months ended September 30, 2019 excludes $72.0 million associated with the consolidation of this entity.

(3)In addition, the Company paid $7.0 million and $6.7 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended September 30, 2019 and 2018, respectively, and paid $13.1 million and $16.4 million for ground lease extensions and term easements on land underlying the Company’s towers during the nine months ended September 30, 2019 and 2018, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets.

During the nine months ended September 30, 2019, the Company allocated the purchase price of 1,103 completed towers and related assets and liabilities consisting of $51.3 million of property and equipment, $286.7 million of intangible assets, and $41.4 million of other net liabilities assumed. All acquisitions in the three months ended September 30, 2019 were accounted for as asset acquisitions. All but one acquisition in the nine months ended September 30, 2019 were accounted for as asset acquisitions. During the three months ended March 31, 2019, the Company consummated an acquisition for $3.0 million in cash and $1.7 million in the Company’s Class A common stock, which was accounted for as a business combination.

Subsequent to September 30, 2019, the Company acquired 6 towers and related assets for $6.7 million in cash.