Goldman Sachs Agrees to Buy Real-Estate Firm LCN Capital Partners for Up to $410 Million

Goldman Sachs has agreed to acquire LCN Capital Partners, a private commercial real-estate investment firm, for as much as $410 million. LCN specializes in sale-leaseback agreements and triple-net leases. The deal, announced August 18, is Goldman's second acquisition in a single week, following its agreement to buy ETF provider NEOS Investments in a $2.3 billion deal announced August 12.

Both transactions are part of Goldman's broader push to expand its asset and wealth management arm, which oversees roughly $4 trillion. Marc Nachmann, head of Goldman's wealth and asset management division, is leading the effort. The LCN purchase bolsters Goldman's footprint in private real-estate strategies at a time when the firm is aggressively building out its alternative investment capabilities through acquisitions.