Goldman Sachs will buy commercial real estate investor LCN Capital Partners for as much as US$410 million, the Wall Street bank said on Tuesday.
Goldman will pay about US$260 million upfront for LCN, with a further potential payout of up to US$150 million tied to future performance targets and service commitments, the company said. About 80 per cent of the consideration will be paid in stock.
“LCN’s differentiated platform is highly attractive for our asset and wealth management clients who want diversified sources of returns and offers corporate clients innovative capital solutions,” Goldman Chairman and CEO David M. Solomon said.
LCN Capital Partners, founded by Edward V. LaPuma and Bryan York Colwell in 2011, is a commercial real estate investor specializing in sale-leaseback and net-lease transactions.
The deal is expected to close by the end of 2026. Goldman Sachs’ global banking and markets arm acted as its financial advisor, while LCN was advised by RBC Capital Markets.
(Reporting by Pragyan Kalita in Bengaluru; Editing by Shreya Biswas)
