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Acquisitions

6 Months Ended

Jun. 30, 2020

6.ACQUISITIONS

The following table summarizes the Company’s acquisition activity:



	For the three months				For the six months
	ended June 30,				ended June 30,
	2020		2019		2020		2019

	(in thousands)
Acquisitions of towers and related intangible assets ⁽¹⁾	$	17,150	$	83,264	$	99,424	$	125,412
Land buyouts and other assets ⁽²⁾		12,354		12,631		19,611		25,770
Total cash acquisition capital expenditures	$	29,504	$	95,895	$	119,035	$	151,182

(1)The six months ended June 30, 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 $1.6 million and $3.5 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended June 30, 2020 and 2019, respectively, and paid $3.6 million and $6.7 million for ground lease extensions and term easements on land underlying the Company’s towers during the six

months ended June 30, 2020 and 2019, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets.

During the six months ended June 30, 2020, the Company allocated the purchase price of 85 acquired towers and related assets and liabilities consisting of $12.9 million of property and equipment, $82.3 million of intangible assets, and $4.2 million of other net assets and liabilities assumed. All acquisitions in the three and six months ended June 30, 2020 were accounted for as asset acquisitions.

Subsequent to June 30, 2020, the Company acquired 25 towers and related assets and one data center for $61.6 million in cash.

The maximum potential obligation related to the performance targets for acquisitions, which have not been recorded on the Company’s Consolidated Balance Sheet, were $27.1 million and $29.7 million as of June 30, 2020 and December 31, 2019, respectively.