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Goldman Sachs agreed to acquire LCN Capital Partners, a commercial real estate investment manager focused on sale-leaseback and net-lease deals, for as much as $410 million, the company disclosed Tuesday.
The buyer will pay roughly $260 million at closing, with an earn-out of up to $150 million tied to LCN hitting future performance and service milestones.
About 80% of the total consideration will be paid in Goldman Sachs stock. LCN, founded in 2011 by Edward V.
LaPuma and Bryan York Colwell, managed approximately $3 billion in assets as of June 30, 2026, drawing capital from institutional investors, insurance companies, and high-net-worth individuals.
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