Lincoln Property Company

What Lincoln Property Company does

Lincoln Property Company is one of the largest private commercial real estate firms in the United States, founded in 1960 and headquartered in Dallas, Texas. The company operates a vertically integrated platform organized around five service lines — Build, Lease, Manage, Invest, and Corporate Advisory & Solutions — serving institutional investors, REITs, corporate occupiers, developers, government entities, and educational institutions across office, multifamily, industrial, retail, life sciences, healthcare, data center, and mixed-use asset classes. As of December 2025, Lincoln manages over $31 billion in assets and a combined portfolio exceeding 720 million square feet of commercial space, with 35+ offices across the United States, United Kingdom, and a European regional headquarters in Warsaw, Poland.

Revenue is generated through four primary streams: recurring property management fees on behalf of institutional and third-party owners; transaction-based leasing and brokerage commissions; development fees from ground-up and redevelopment projects; and investment returns including carried interest and promotes from proprietary vehicles such as Lincoln Logistics Fund II. Lincoln's go-to-market relies on direct enterprise field sales teams managing relationships with institutional investors, REITs, and major corporate occupiers, augmented by local market teams empowered to negotiate property-level transactions. Notable customers include Walmart, Honeywell, ZoomInfo, Deloitte, TIAA, Keurig Dr Pepper, the Dallas Cowboys, Cleveland Browns, San Antonio Spurs, and 1 Hotels.

The firm is majority-owned by Stone Point Capital following a February 2023 strategic investment that installed co-CEOs Clay Duvall and David Binswanger as part of an explicit growth and succession plan. Lincoln has pursued an active inorganic strategy, acquiring Capstone Development Partners (student housing), RiverRock Real Estate Group, and strategic stakes in Unire Real Estate Group, Trigild, and Centennial, while launching joint ventures with PGIM Real Estate (outpatient medical), Metrobloks (data centers), and Cross Ocean Partners (office). Major development projects include The Star in Frisco, Texas ($2 billion mixed-use); Huntington Bank Field in Brook Park, Ohio ($2.4 billion stadium and entertainment district); and Waterline in Austin, Texas (74-story tower).

Name

Lincoln Property Company

Legal name

Lincoln Property Company Commercial LLC

Website

https://lpc.com

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Lincoln Property Company is one of the largest private US commercial real estate firms, providing integrated build, lease, manage, invest, and advisory services to institutional investors, corporate occupiers, and developers across 720+ million square feet and $31B+ AUM.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Services

NAICS

Real Estate Property Managers (53131), Nonresidential Property Managers (531312), Offices of Real Estate Agents and Brokers (5312), Other Activities Related to Real Estate (531390)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Office Real Estate Asset Management (BPAJAMAG)

akta.pro secondary industries

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL), Tenant Representation & Corporate Services Brokerage (BPAJABAJ), Seller Representation & Listing Services (BPAJAAAK)

Keywords

• Commercial real estate services
• Property management services
• Commercial leasing brokerage
• Real estate development services
• Real estate investment advisory

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices35 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Property Management Fees: Lincoln earns recurring management fees for managing commercial properties on behalf of institutional clients and third-party owners. Their combined management and leasing portfolio exceeds 720 million square feet of commercial space.
2. Leasing and Brokerage Commissions: The company earns transaction-based commissions on leasing and sales of commercial properties, including office, industrial, retail, and multifamily assets.
3. Development Fees: Lincoln generates development fees from ground-up development and redevelopment projects, including build-to-suit office, industrial, mixed-use, and multifamily developments.
4. Investment Returns: Through Lincoln Logistics Fund II and other proprietary investment vehicles, the company earns carried interest and promotes on equity investments alongside institutional capital partners like Stone Point Capital.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Lincoln Property Company is a vertically integrated commercial real estate services firm offering five core lines: Build (ground-up development and master planning), Lease (commercial leasing and brokerage across all major asset types), Manage (property and asset management for institutional owners), Invest (proprietary investment vehicles such as Lincoln Logistics Fund II that pursue value-add strategies alongside institutional capital partners), and Corporate Advisory & Solutions (occupier advisory, lease administration, and transaction management for corporate occupiers).

Product overview

Lincoln Property Company is one of the largest private commercial real estate firms in the United States, offering a comprehensive suite of integrated real estate services organized around five core offerings: Build Services (development and master planning), Manage Services (property and asset management), Lease Services (commercial leasing across asset types), Invest Services (real estate investment), and Corporate Advisory & Solutions (occupier advisory). The company operates across multiple property types including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-use properties throughout the United States, United Kingdom, and Europe. Notable featured projects include The Star (Dallas Cowboys HQ in Frisco), Seaport Circle (life sciences in Boston), Legacy Union (mixed-use in Charlotte), Waterline (tallest building in Texas), and Luke Field (LEED Gold logistics campus in Arizona). The company manages over $31 billion in assets and a combined portfolio of more than 720 million square feet of commercial space.

Differentiator

Problem solved

Functional benefit

Brands

• Centennial, powered by Lincoln: National retail real estate operating platform
• Trigild, powered by Lincoln
• Lincoln Logistics Fund II

Products and services

• Build Services End-to-end real estate development and master planning services for ground-up development and redevelopment projects across office, multifamily, industrial, retail, life science, mixed-use, data center, and other asset classes. Available to institutional clients, developers, and property owners.
• Lease Services Commercial real estate leasing services covering agency leasing, tenant representation, and transaction support across all major asset types. Available to owners and tenants through locally empowered regional teams.
• Manage Services Property and asset management services delivered with an ownership mindset, covering more than 720 million sq. ft. of commercial space across multiple asset classes for institutional clients and third-party owners.
• Invest Services Real estate investment services using proprietary funds and direct equity investing, including Lincoln Logistics Fund II, which pursues last-mile and multi-tenant industrial value-add strategies with cornerstone commitments from Stone Point Capital and U.S. public pension plans.
• Corporate Advisory & Solutions Tailored real estate advisory services for corporate occupier clients, including strategy and execution support for lease administration, transaction management, project management, and workplace solutions across multiple industries.

Quantifiable outcome

• Luke Field achieved 100% occupancy with two full-building leases totaling over 1.1 million square feet
• +4 more outcomes

Named customers19 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

19 partnerships are on record, tiered core, strategic, flagship, minor, major and transactional.

• Austin Capital PartnerscoreStrategic or Co-development Partner · 4 June 2026Co-developer with Lincoln for Four Seasons Private Residences Lake Austin - a 210-acre ultra-luxury residential resort community on Lake Austin, Texas. TYKO Capital provided $870 million construction loan for this project.
• JLL Capital Markets GroupstrategicImplementation/ SI/ Consulting Partner · 4 June 2026Arranged the $870 million senior construction loan for Four Seasons Private Residences Lake Austin through TYKO Capital, with co-advisors Cobalt Equities and Adelaide Real Estate representing Austin Capital Partners and Lincoln.
• Haslam Sports GroupflagshipStrategic or Co-development Partner · 1 May 2026Lincoln is development partner for the Huntington Bank Field stadium and adjacent mixed-use entertainment district in Brook Park, Ohio. The 176-acre sports and entertainment district includes stadium, music venue, hotels, apartments, and retail. Project valued at $2.4 billion for stadium with additional mixed-use investment.
• BeewiseminorStrategic or Co-development Partner · 22 April 2026Beewise's Bees for Buildings program partners with commercial real estate firms including Lincoln for AI-powered BeeHome robotic beehives. Program provides pollinator stewardship integration into real estate sustainability and tenant engagement initiatives.
• MetroblokscoreStrategic or Co-development Partner · 15 April 2026Joint venture to develop a 568,000-square-foot high-performance data center campus in Liberty, Missouri. The partnership combines Metrobloks' specialized data center site delivery with Lincoln's project execution capabilities. Project targets Q3 2027 for first tranche delivery with 150 MW power capacity.
• Centennial (powered by Lincoln)coreStrategic or Co-development Partner · 31 March 2026National retail real estate operating platform powered by Lincoln. Steven Levin founded Centennial and is retiring June 2026, succeeded by Paul Kurzawa. Lincoln formalized strategic investment in Centennial's operating business.
• PGIM Real EstatecoreStrategic or Co-development Partner · 9 December 2025Strategic joint venture to pursue outpatient medical real estate investments across the United States. Partnership extends existing relationship and has executed two initial acquisitions totaling 193,000 square feet in Texas and California. PGIM manages $213 billion in gross assets.
• BlackBirch CapitalstrategicImplementation/ SI/ Consulting Partner · 9 December 2025Arranged the Lincoln-PGIM joint venture for outpatient medical real estate investments. BlackBirch Capital served as advisor facilitating the multi-year national investment vehicle.
• Capstone Development PartnersstrategicStrategic or Co-development Partner · 17 November 2025Lincoln acquired Capstone Development Partners and Capstone Management Partners - a leading student housing and university facilities development and management company based in Birmingham, Alabama. Capstone continues operating under its own brand while gaining access to Lincoln's national scale.
• Kairoi ResidentialmajorStrategic or Co-development Partner · 17 November 2025Co-developer with Lincoln for 1 Hotel Austin at Waterline development in downtown Austin. The 252-room luxury hotel is part of the 74-story mixed-use Waterline tower, scheduled to open August 2026.
• Hunt CompaniesmajorStrategic or Co-development Partner · 4 November 2025Hunt Companies and Lincoln Property Company submitted proposal for mixed-use development at Frost Bank Center and Freeman Coliseum in San Antonio. Plan includes 3.6 million square feet of mixed-use development over 15 years.
• TrigildstrategicStrategic or Co-development Partner · 22 October 2025Launched 'Trigild, powered by Lincoln' platform providing real estate and asset management services across the US. Initiative follows Lincoln's strategic investment in Trigild to expand joint capabilities in distressed asset management.
• Proper HospitalitymajorStrategic or Co-development Partner · 16 October 2025Partnership for luxury hotel and residential tower in Uptown Dallas, expected completion 2029. Lincoln acquired the site in 2024. Project includes hotel, residences, wellness center, and social club.
• Peakline Real Estate FundsminorStrategic or Co-development Partner · 16 October 2025Partnership with Peakline Real Estate Funds for The Claire build-to-rent community in Naperville, Illinois - 90 townhomes representing the first build-to-rent development in Naperville.
• New York Life Real Estate InvestorsmajorStrategic or Co-development Partner · 14 October 2025Partnership to acquire 494,552-square-foot office property in San Francisco. This follows their collaboration where New York Life holds assets on balance sheet while Lincoln provides property management and leasing services.
• AECOM HuntflagshipStrategic or Co-development Partner · 9 September 2025Joint venture with AECOM Hunt and Turner Construction for Huntington Bank Field stadium development in Brook Park, Ohio. AECOM Hunt leads construction alongside Turner.
• Cross Ocean PartnersmajorStrategic or Co-development Partner · 11 August 2025Joint venture with Cross Ocean Partners to acquire 650,000-square-foot office building at 470 Vanderbilt Avenue in Downtown Brooklyn. This was the first collaboration between the two firms and Lincoln's sixth investment in NY Metro in one year.
• Unire Real Estate GroupstrategicStrategic or Co-development Partner · 1 May 2025Strategic investment expanding Lincoln's property management services in Southern California. Unire brings local market expertise and client relationships.
• CBRE Global InvestmenttransactionalOthers · 26 February 2025CBRE Global Investment sold a DXC data center in Chandler, Arizona to Lincoln for $130 million. Lincoln plans to redevelop the 191,000 SF site into a 30-MW colocation facility.

Scale indicators18 records

Recent moves10 records

Expansion highlights8 records

Direct peers

• CBRE Group: The largest global commercial real estate services firm, offering brokerage, property management, valuation, and investment management across all major asset classes. Directly comparable to Lincoln's vertically integrated Build-Lease-Manage-Invest platform, with overlapping institutional client base and similar office/logistics/multifamily focus.
• JLL (Jones Lang LaSalle): Global commercial real estate services and investment management firm with similar service lines (leasing, property management, capital markets, valuation) and institutional client focus. Directly comparable in scope and asset class coverage, including corporate occupier advisory.
• Cushman & Wakefield: Global commercial real estate services firm competing directly in brokerage, property management, valuation, and advisory across office, industrial, retail, and multifamily. Highly comparable service mix and customer base to Lincoln's core platform.
• Newmark Group: Commercial real estate services and investment firm with capital markets, leasing, and property management offerings. Comparable to Lincoln in brokerage and investment sales focus, particularly across office and industrial.
• Colliers International: Global commercial real estate services and investment management firm with similar brokerage, property management, and advisory capabilities. Comparable in service portfolio, asset class coverage, and institutional client orientation.
• Tishman Speyer: Private global real estate investment, development, and operating company focused on office, life sciences, and mixed-use properties. Closely comparable to Lincoln in combining development, ownership, and operating capabilities under a single private platform with institutional capital partners.
• Related Companies: Large private diversified real estate firm spanning development, acquisitions, management, and mixed-use projects. Comparable to Lincoln in its integration of development, asset management, and operating capabilities across multiple asset classes.
• Hines: Privately held global real estate investment, development, and management firm with institutional capital partnerships. Comparable to Lincoln's vertically integrated model across office, multifamily, industrial, and mixed-use assets in the US and Europe.
• Marcus & Millichap: Commercial real estate investment sales and financing firm specializing in brokerage of office, industrial, multifamily, retail, and hospitality assets. Comparable to Lincoln's brokerage/investment sales capability, particularly for institutional and private capital clients.

Broad incumbents

• Brookfield Property Group: A much larger global real estate owner, operator, and developer across office, retail, multifamily, logistics, and hospitality under Brookfield Asset Management. Comparable to Lincoln in office and mixed-use development and management but operates at significantly greater scale with broader asset ownership.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/LincolnPropCo
• LinkedInlinkedin.com/company/lincoln-property-company
• Instagraminstagram.com/lincolnpropertyco/?hl=en
• Facebookfacebook.com/LincolnPropCo

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries10 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lincoln Property Company