Goldman Sachs to Acquire Real Estate Investment Firm LCN Capital Partners for $410M
Goldman Sachs has agreed to acquire real estate investment manager LCN Capital Partners in a deal valued at up to $410 million, with the transaction expected to close by year-end. This acquisition follows Goldman's recent announcement of its purchase of ETF provider NEOS for $2.25 billion and reflects an ongoing strategy to expand its asset management capabilities. LCN specializes in managing sale-leaseback, build-to-suit, and net lease investments across North America and Europe with approximately $3 billion under supervision as of June 30. The firm has delivered a 10.8% average annual return since 2011. Goldman CEO David Solomon highlighted the strategic fit for diversifying returns and serving corporate clients through innovative capital solutions. The deal includes an upfront payment of about $260 million, with up to $150 million deferred based on performance targets. Around 80% of the total consideration will be paid in equity.
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