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Goldman Sachs Buys LCN Capital Partners for $410M
18 Aug
Summary
- Goldman Sachs to acquire LCN Capital Partners for up to $410 million.
- The deal includes an upfront payment and a potential future performance-based payout.
- Approximately 80% of the acquisition consideration will be paid in stock.
Goldman Sachs has announced its intention to acquire commercial real estate investor LCN Capital Partners for a sum reaching up to $410 million. The transaction includes an initial payment of around $260 million, with the possibility of an additional payout of up to $150 million contingent on future performance and service commitments. A significant portion, approximately 80%, of the total consideration will be settled using Goldman Sachs stock.
This acquisition is designed to bolster Goldman Sachs' capabilities by integrating LCN's specialized platform, which focuses on sale-leaseback and net-lease transactions. According to Goldman Chairman and CEO David M. Solomon, LCN's differentiated approach is highly valued for its potential to offer diverse return sources to asset and wealth management clients, alongside innovative capital solutions for corporate clients.
Founded in 2011 by Edward V. LaPuma and Bryan York Colwell, LCN Capital Partners brings expertise in commercial real estate investment. The deal is projected to finalize by the close of 2026. Goldman Sachs' global banking and markets division provided financial advisory services for the acquisition, while LCN Capital Partners was advised by RBC Capital Markets.
