Our Company
The LCP Group, L.P. (LCP) has been a pioneer in both public and private real estate investments for more than 45 years. Today, LCP oversees a real estate portfolio valued approximately ~$1 billion that includes investments in existing and ground-up development projects across the real estate sector and throughout the United States. LCP specializes in sourcing investment opportunities on behalf of its clients that meet their unique investment goals and criteria. Our goal is to form integral partnerships with our investors that help them achieve attractive risk-adjusted returns on their real estate investment allocations.
WHAT WE DO
WHO WE SERVE
We have been fortunate to invest with, and on behalf of, both institutional capital partners and individual foreign investors from around the world including: Argentina, Australia, Bahrain, Brazil, Canada, China, Dominican Republic, Egypt, France, Germany, India, Iran, Italy, Malaysia, Nigeria, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Thailand, United Kingdom, Venezuela, Vietnam, and Yemen.
PHILANTHROPY
LCP is committed to giving back and we take our role as a member of the global business community seriously. We are delighted to share two of our philanthropic endeavors that we take great pride in supporting.
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OUR HISTORY
In 1974, Lepercq Capital Partners (LCP) was founded by Robert Roskind as a joint venture with Lepercq, de Neuflize & Co., a French investment banking firm. During the next decade, LCP concentrated on the acquisition and syndication of single tenant properties throughout the United States and successfully acquired in excess of $1.2 billion in properties.
In 1979, the firm opened a second line of business—the acquisition and syndication of hotel properties with the first being The Palace Hotel in New York City, a joint venture with Harry Helmsley, a prominent New York City real estate landlord. LCP moved quickly in this market and acquired three Hyatt Regency Hotels in Phoenix, Savannah, and Washington, D.C. From there, LCP acquired a Loews Hotel, the Arizona Biltmore, and the Embassy Row Hotel in Washington D.C. LCP also financed a number of Embassy Suite Hotels throughout the United States. By the mid-1980s, LCP owned all of the Accor Hotels in North America including the Novotel in New York City and the Sofitel Hotels in Minneapolis, Houston, and Miami.
As a result of LCP’s success with hotel acquisition, in 1986 the firm started subsidiary LCP Hotels to manage hotel properties. LCP Hotels later changed its name to CapStar Hotels which grew into a substantial hotel management company that owned and operated upscale hotels prior to LCP divesting a decade later.
In 1989, to align with the firm’s broadened capabilities and services, Lepercq Capital Partners changed its name to The LCP Group L.P. (LCP).
During the market downturn of the early 1990s, the firm retrenched and Mr. Roskind bought out LCP’s partners. As the sole owner of LCP, Mr. Roskind restructured the firm and spun out a portion of its portfolio through an IPO to form Lexington Corporate Properties Trust (Lexington), a publicly traded office and industrial REIT (NYSE: LXP). The shares of Lexington were listed on the New York Stock Exchange with an initial equity capitalization of $90 million and an enterprise value of $200 million. Today, the firm is known as Lexington Realty Trust (www.lxp.com) and has an equity capitalization of $2.5 billion with a total enterprise value of $4.4 billion.
In the early 2000s, LCP formed a Japanese REIT, LCP Investment, which is listed on the Tokyo Stock Exchange. LCP controlled the external advisor to the REIT for almost a decade.
In 2006, LCP acquired a 25% interest in Crescent Hotels and Resorts (www.crescenthotels.com). Crescent is one of the largest third-party hotel management companies operating in the United States and Canada with more than 100 hotels under management. LCP leverages the expertise of Lexington and Crescent to source opportunities and investment relationships.
As of 2015, LCP again began investing in premium branded select- and full-service hospitality properties throughout the United States.
Today, LCP is a full-service private real estate investment management firm with nearly ~$1 billion in assets under management. LCP specializes in both private debt and equity transactions and manages capital on behalf of both institutional and high net worth investors. LCP owns, with institutional partners, hospitality properties including two full-service Hilton hotels and two Marriott hotels. The firm also owns several properties throughout the United States including parcels of land beneath 21 supermarkets, a student housing project in Tampa, Florida, a bus terminal in Portland, Oregon, and a 400+ unit multifamily apartment building in Lenexa, Kansas.
In addition, LCP has capitalized more than $500 million in debt and equity transactions, with an aggregate value of more than $5 billion, through its EB-5 investment program which raises capital from foreign investors to finance job-creating real estate projects in developing neighborhoods across the United States. Through its “Live in America” program, LCP has structured more than a dozen EB-5 projects that employed more than 34,000 United States workers and helped more than 1,000 foreign investors from 32 countries on their path to permanent residency in the United States.
