The Goldman Sachs Group Inc. (NYSE:GS) is acquiring LCN Capital Partners, a leading investment manager specializing in the sale-leaseback, build-to-suit, and triple net lease sectors of North American and European real estate market.
The upfront transaction consideration is approximately $260 million. In addition, there is up to approximately $150 million of deferred and contingent consideration, subject to the achievement of certain long-dated performance targets and service commitments.
LCN’s investment team, led by co-founders Edward V. LaPuma and Bryan York Colwell, will join the real estate business within Goldman Sachs Asset Management upon the completion of the transaction.
“LCN’s differentiated platform is highly attractive for our Asset & Wealth Management clients who want diversified sources of returns and offers corporate clients innovative capital solutions,” said David M. Solomon, chairman and CEO of Goldman Sachs. “Their focus complements our private real estate team’s broad 30-year track record and will expand our ability to serve our insurance, institutional, and wealth client segments.”
0 Comments