{"id":1004508883,"date":"2021-02-04T05:15:33","date_gmt":"2021-02-04T13:15:33","guid":{"rendered":"http:\/\/internal.cpexecutive.com\/?p=1004508883"},"modified":"2021-05-15T10:03:56","modified_gmt":"2021-05-15T18:03:56","slug":"lcn-closes-latest-sale-leaseback-funds-at-1-3b-plus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lcn-closes-latest-sale-leaseback-funds-at-1-3b-plus\/","title":{"rendered":"LCN Closes Latest Sale-Leaseback Funds at $1.3B"},"content":{"rendered":"
\"Edward<\/a>

Edward LaPuma, Co-Founder & Managing Partner, LCN Capital Partners. Image courtesy of LCN Capital Partners<\/em><\/p><\/div>\n

LCN Capital Partners has raised the equivalent of more than $1.3 billion in equity commitments for its third pair of sale-leaseback funds.<\/p>\n

\n

READ ALSO<\/strong>: Ventas Nails Down $2.8B Unsecured Credit Facility<\/a><\/p>\n

\n

Its LCN North American Fund III LP exceeded a target of $500 million and closed at a hard cap of $635 million. The Luxembourg-domiciled LCN European Fund III SLP exceeded its target of \u20ac500 million ($601 million), closing at a hard cap of \u20ac600 million ($721 million).<\/p>\n

LCN specializes in the primary corporate sale-leaseback and build-to-suit markets. Its funds continue the company\u2019s strategy of originating and structuring primary market sale-leaseback and build-to-suit investments directly with North American and European corporate owner-occupants, across all industry sectors and commercial real estate types.  <\/p>\n

The two latest funds received capital commitments from global institutions that included pension funds, insurance companies and foundations, as well as multi-family offices and high-net-worth individuals across nine countries and three continents. The funds also received capital commitments from all of the institutional partners in LCN Funds II.<\/p>\n

LCN North American Fund II LP and LCN European Fund II SLP closed in 2017 with about $750 million in capital commitments, and LCN North American Fund LP and LCN European Fund FCP-SIF closed in 2014 with about $450 million in capital commitments.<\/p>\n

In a prepared statement, LCN Co-Founder & Managing Partner Edward LaPuma noted that these funds, the largest of LCN\u2019s sale-leaseback funds to date, closed at their hard caps despite the disruption caused by COVID-19. He added that Funds III \u201care already significantly invested across North America and Europe.\u201d<\/p>\n

Pandemic encourages sale-leasebacks <\/h2>\n

In October, LCN sold a vacant 350,000-square-foot warehouse<\/a>, along with an adjacent 16-acre development site, in Boise, Idaho, to LDK Ventures.<\/p>\n

Meanwhile, numerous articles, reports and blog posts have documented the increased attractiveness of sale-leasebacks, often under net-lease terms, for owner-operators that might be facing difficulties with their usual lending sources.<\/p>\n

Even before the pandemic, some retailers were using sale-leasebacks<\/a> as a way of moving toward an \u201casset-light\u201d strategy. But more recently, both the CRE industry overall<\/a> and the office sector specifically<\/a> have seen more interest in sale leasebacks.<\/p>\n","protected":false},"excerpt":{"rendered":"

The North American and European equity commitments are the company\u2019s largest yet. <\/p>\n","protected":false},"author":882,"featured_media":1004518026,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,16,23891,21742],"tags":[36315],"class_list":["post-1004508883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-international","category-national","category-latest","tag-sale-leaseback"],"acf":[],"yoast_head":"\nLCN Closes Latest Sale-Leaseback Funds at $1.3B - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/lcn-closes-latest-sale-leaseback-funds-at-1-3b-plus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LCN Closes Latest Sale-Leaseback Funds at $1.3B\" \/>\n<meta property=\"og:description\" content=\"The North American and European equity commitments are the company\u2019s largest yet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lcn-closes-latest-sale-leaseback-funds-at-1-3b-plus\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-04T13:15:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T18:03:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Edward-LaPuma-Co-Founder-and-Managing-Partner-LCN-Capital-Partners.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lcn-closes-latest-sale-leaseback-funds-at-1-3b-plus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lcn-closes-latest-sale-leaseback-funds-at-1-3b-plus\/\",\"name\":\"LCN Closes Latest Sale-Leaseback Funds at $1.3B - 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