Private real estate investment firm LCN Capital Partners has raised over $1.35 billion in equity commitments for its third pair of sale-leaseback funds.
Its U.S. Dollar denominated, LCN North American Fund III L.P., and Euro denominated, Luxembourg-domiciled LCN European Fund III SLP, have exceeded targets of $500 million and €500 million, closing at hard caps of $635 million and €600 million, respectively.
“Our third pair of distinct sale-leaseback funds are LCN’s largest raised to-date, having closed at their hard caps despite the disruption of COVID-19,” said Edward LaPuma, Co-Founder and Managing Partner of LCN. “In order to properly invest the capital entrusted to us by our partners, we have continued to develop our existing team, expanded our origination reach by adding offices around the globe, and are currently recruiting for various new positions. We believe that we are well positioned to identify and capitalize on the security, attractive risk-return, and fixed income-like attributes that our hybrid investment provides. We are humbled by the strong support of our original investing partners and welcome our new investing partners to Funds III, which are already significantly invested across North America and Europe.”
Read Also : What is Sale and Leaseback?
“With an Investment Committee of the two founders, each directly engaged on LCN’s transactions, LCN can provide the certainty and speed of closing, handle deal complexity, and preserve confidentiality for our corporate tenant-clients. These abilities have led some of the world’s best known corporate names to partner with LCN for their sale-leaseback and build-to-suit transactions, some for multiple transactions,” said Bryan York Colwell, Co-Founder and Managing Partner of LCN. “Since inception 10 years ago, LCN has distinguished itself as a reliable, long-term capital partner for our global tenant-clients who are seeking alternate liquidity sources to effectively manage their businesses.”
LCN’s funds aim to originate and structure primary market sale-leaseback and build-to-suit investments directly with corporate owner-occupants across all industry sectors and commercial property types in North America and Europe.
The funds received capital commitments from global institutions, including pension funds, insurance companies, and foundations, as well as multi-family offices and high net worth individuals located across three continents and nine countries.