Advisory & Management
The LCP Group (previously known as Lepercq Capital Partners) is a private real estate investment firm that has been acquiring, syndicating and overseeing major real estate properties nationally since 1974.
LCP creates well‐balanced portfolios through the acquisition of single assets and/or small portfolio transactions through joint-venture, advisory, and/or asset management relationships with its clients. We target desirable markets, quality assets (before or after a renovation), strong brands, and key locations within their respective markets and consider properties either encumbered or unencumbered by management. We look for multiple assets within a single market or region to take advantage of scaling management operations. We seek to exit assets either individually or through a portfolio sale, depending upon business cycles, to achieve the highest returns for our investors.
Today, LCP is actively investing in hospitality assets. LCP’s hospitality group has invested over $175 million of equity in approximately 20 hotels, highlighted below. In 1987, LCP formed CapStar Hotels (a publicly traded hotel management company, which after several mergers is now known as Interstate Hotels), which it divested from in 1996. LCP continued its strategic investing in hospitality managers by investing in Crescent Hotels & Resorts in the mid-2000s and still retains that interest.
In the 1970s/1980s, LCP was one of the most active buyers of single-tenant properties, acquiring in excess of $1.2 billion of such properties. In 1993, LCP created Lexington Corporate Properties Trust, a New York Stock Exchange‐listed real estate investment trust (“REIT”). By YE2006, Lexington Corporate Properties Trust merged with Newkirk Realty Trust and was renamed Lexington Realty Trust (“Lexington”). LCP and its shareholders own a significant equity position in Lexington. Today, Lexington has a market capitalization of approximately $2.6 billion, total assets in excess of $3.8 billion and is invested in approximately 215 properties located in 40 states.
Below is a table highlighting some of our past projects.
|The Palace Hotel||New York, NY||892|
|Hyatt Regency||Phoenix, AZ||712|
|Hyatt Regency||Savannah, GA||346|
|Hyatt Regency-Capitol Hill||Washington, D.C.||834|
|Loews Ventana Canyon Resort||Tucson, AZ||398|
|Arizona Biltmore (Westin)||Phoenix, AZ||506|
|King Edward Hotel (Trusthouse)||Toronto, Ontario||348|
|L’hotel Sofitel||Houston, TX||340|
|Waiohai (Amfac)||Kauai, HI||350|
|Canyon Ranch||Lennox, MA||120|
|Marriott Livonia*||Livonia, MI||224|
|Hilton Garden Inn Orlando East*||Orlando, FL||122|
|Hampton Inn, Denver International Airport*||Denver, CO||122|
*Currently owned by LCP or an Affiliate