Landmark Infrastructure Partners LP rolled out a program through which it may sell up to $50.0 million of its 7.90% series B cumulative redeemable perpetual preferred units in at-the-market offerings from time to time.

The terms of the agreement provide that the company may not sell the units for less than $25.00 apiece.

Net proceeds from any sales will likely go toward general partnership purposes, which may include debt repayment and potential financing of future purchases.

FBR Capital Markets & Co. is the sales agent.