Acquisitions

3 Months Ended

Mar. 31, 2020

Acquisitions [Abstract]

Acquisitions

6.ACQUISITIONS

The following table summarizes the Company’s acquisition activity:

	For the three months
	ended March 31,
	2020		2019
	(in thousands)
Acquisitions of towers and related intangible assets (1)	$	82,274	$	42,148
Land buyouts and other assets (2)		7,257		13,139
Total cash acquisition capital expenditures	$	89,531	$	55,287

(1)The three months ended March 31, 2019 excludes $1.7 million of acquisition costs funded through the issuance of 10,000 shares of Class A common stock.

(2)In addition, the Company paid $1.7 million and $3.8 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended March 31, 2020 and 2019, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets.

During the three months ended March 31, 2020, the Company allocated the purchase price of 69 acquired towers and related assets and liabilities consisting of $11.3 million of property and equipment, $69.0 million of intangible assets, and $2.0 million of other net assets and liabilities assumed. All acquisitions in the three months ended March 31, 2020 were accounted for as asset acquisitions.