Lincoln Property Residential is no more.
The brainchild of legendary Dallas developer Trammell Crow, and formerly the multifamily arm of Dallas-based Lincoln Property Company, it sold in March to Canadian firm Cadillac Fairview, which previously had a 49 percent stake. Now Lincoln Property Residential has rebranded to Willow Bridge Property, the Dallas Morning News reported.
Crow founded Lincoln Property Residential in 1965 with Mack Pogue, the former CEO of Lincoln Property Company. The new name is a nod to that history.
Dallas-based Lincoln Property Residential’s first development was the Willow Creek apartments on Walnut Hill Lane at Central Expressway, the outlet reported. That 42 acres is now the site of Preston Hollow Village shopping center.
“The first property we built was named after the willow tree, and the willow tree has since served internally as a symbol of the growth and strength of our company,” Willow Bridge CEO Duncan Osborne said.
Willow Bridge has “ambitious growth plans,” Osborne said.
“We have a thoughtful strategy to grow and support our property management operations and clients, while significantly expanding our investment and development program with sponsorship from our shareholders and plans to expand our capital relationships,” he said.
70-year-old Cadillac Fairview, led by president and CEO John Sullivan, is owned by the Ontario Teachers Pension Plan and manages more than $40 billion in assets on four continents. It is based in Toronto, but it has strong ties to Dallas.
Cadillac Fairview bought the Comerica Bank Tower at 1700 Pacific in downtown Dallas in the 1980s, the outlet reported. Cadillac Fairview also owns a 50 percent stake in Dallas-based developer KDC.
Cadillac Fairview leased office space in Dallas, at 2000 McKinney Avenue in Uptown, in 2021.
Another of Dallas’ major multifamily companies changed hands this week. Japanese logging and construction company Sumitomo Forestry bought Irving-based JPI, the biggest and most prolific apartment developer in Dallas-Fort Worth, for an estimated $215 million.
Read more
Development
Dallas
Cadillac Fairview buys Lincoln Residential
Commercial
Dallas
Downtown Dallas wants new look as Uptown grows
Dallas
Value-add specialist to open Dallas lending office