- Also, Lincoln has named David Binswanger and Clay Duvall as co-CEOs
- Binswanger and Duvall will succeed Lincoln founder and Chairman Mack Pogue and CEO/President Bill Duvall, both of whom will continue to have an ownership stake in the company
- In connection with the transaction, Berkshire Global Advisors acted as financial advisor to Lincoln Property Company
Dallas-based commercial real estate company Lincoln Property Company Commercial has secured an investment from Stone Point Capital LLC. No financial terms were disclosed.
The funding will enable Lincoln to accelerate its national and international expansion and offer more services to tenants, investors, lenders, and owners of commercial real estate.
In conjunction with the investment, Lincoln has announced several executive leadership changes. David Binswanger and Clay Duvall will serve as co-CEOs, succeeding Lincoln founder and Chairman Mack Pogue and CEO/President Bill Duvall, both of whom will continue to have an ownership stake in the company. Greg Courtwright will continue to serve as Lincoln’s chief operating officer and remain an owner of the business.
Pogue originally founded Lincoln Property Company in 1965 as an apartment developer. In the last five years alone, the company has acquired and developed more than $22 billion in commercial projects.
“Stone Point Capital is pleased to partner with the Pogue and Duvall families, as well as other significant contributors to Lincoln’s long-term success, and we could not be more excited to support David, Clay, Greg, and their many talented colleagues,” said Chuck Davis, CEO of Stone Point Capital, in a statement.
In connection with the transaction, Berkshire Global Advisors acted as financial advisor to Lincoln Property Company.
Based in Greenwich, Connecticut, Stone Point Capital has over $45 billion of assets under management. Stone Point targets investments in companies in the global financial services industry and related sectors.