Goldman Sachs has agreed to acquire LCN Capital Partners, a commercial real estate investor specializing in sale-leaseback and net-lease transactions, in a transaction valued at up to $410 million.
The U.S. investment bank will pay approximately $260 million in an initial cash consideration, with an additional $150 million contingent on future performance targets and service commitments. Around 80% of the total consideration will be settled in Goldman Sachs stock.
The deal is expected to close by the end of 2026, subject to customary regulatory and shareholder approvals. LCN Capital Partners, founded in 2011 by Edward V. LaPuma and Bryan York Colwell, advises on corporate clients seeking capital solutions through sale-leaseback and net-lease structures.
Goldman Sachs’ global banking and markets division served as its financial advisor for the transaction, while LCN Capital Partners was advised by RBC Capital Markets. Goldman Chairman and CEO David M. Solomon stated that LCN’s platform aligns with the bank’s asset and wealth management clients’ demand for diversified return sources and innovative capital solutions for corporate clients.
