DALLAS--(BUSINESS WIRE)--Lincoln Property Company (“Lincoln”), a global, full-service real estate firm, announced today the acquisition of RiverRock Real Estate Group (“RiverRock”), an Irvine, California-based property and asset management firm. The deal adds more than 50 million square feet to Lincoln’s property management portfolio and strategically expands the company’s integrated service delivery capabilities to third-party institutional clients across office, retail and industrial asset classes.
RiverRock provides third-party management services to clients throughout California and Arizona. Founding partner John Combs invested in Lincoln and will serve as a key executive on Lincoln’s leadership team, bringing his deep third-party management expertise to the two firms’ combined client roster. Mr. Combs will help lead the operations and growth of Lincoln’s Property Management business, with a focus on the West Coast. In this role, he will continue to engage directly with clients, ensuring they receive the superior client service for which both RiverRock and Lincoln are known.
Lincoln manages, leases, develops, and invests in office, life science, retail, industrial, data center, production studio and mixed-used properties throughout the United States, United Kingdom, and Europe. The deal with RiverRock represents Lincoln’s first acquisition since announcing its growth and succession plan in February 2023. The announcement included the appointment of David Binswanger and Clay Duvall as Co-CEOs, as well as a major investment by funds managed by Stone Point Capital LLC to accelerate expansion and offer more services to tenants, investors, lenders, and owners of real estate.
“John built a legacy for client service that is second to none, and we are thrilled to have him as a key member of the Lincoln leadership team. By combining our firms, we create an even stronger Property Management service offering that is bolstered by RiverRock’s unmatched knowledge and superior third-party management execution,” said Mr. Binswanger.
“I founded RiverRock in 2003 to provide a better solution for clients, embracing the most successful ideas in customer service, technology, training, and pricing. Now, decades later, I am proud of a legacy of work that has elevated the industry while putting people first,” said Mr. Combs. “I am honored to embark on this new opportunity to collaborate with Lincoln’s leadership and teams to again redefine best-in-class service at the local, national and global level.”
Mr. Duvall added: “When we announced the Stone Point Capital investment earlier this year, it kicked off a growth plan intended to align Lincoln with the best brands in the business. We are thrilled that John is entrusting us in this partnership, as it enables us to enhance our offerings, especially in the third-party client service arena, working alongside a set of people who share Lincoln’s commitment to a respectful and entrepreneurial culture.”
The RiverRock acquisition represents Lincoln’s first M&A deal since announcing the appointment of Ali Daubert as Chief Strategy and M&A Officer.
About Lincoln Property Company
Lincoln Property Company (“Lincoln”) is one of the nation’s largest diversified real estate services companies with thirty-five offices across the globe. Founded in 1965, Lincoln's combined management and leasing portfolio on behalf of institutional clients includes more than 470 million square feet of commercial space. Offering a comprehensive suite of real estate solutions, Lincoln manages, leases, develops, and provides advisory services to owners and occupiers of office, life science, retail, industrial, data center, production studio, and mixed-used properties throughout the United States, United Kingdom, and Europe. In addition to providing third party real estate services, Lincoln has principally acquired and developed more than $24 billion and 62 million square feet of commercial projects since 2018. For more information, visit: www.lpc.com.
About RiverRock
RiverRock Real Estate Group is a client-centric property and asset management firm, providing superior hands-on management and specialized accounting services for more than 50 million square feet of office, retail and industrial properties located throughout California and Arizona. In every aspect, RREG’s experienced personnel, entrepreneurial approach, and solid value proposition set the firm apart. RREG was envisioned to be an indispensable asset to every client by fulfilling every detail entrusted to the firm.
