Dive Brief:

• Lincoln Property Co.’s former residential division, also known as Lincoln Residential, has rebranded as Willow Bridge Property Co. following its recent acquisition by Canadian real estate investor Cadillac Fairview in February.
• The Dallas-based company’s rebranding stems from the image of the willow tree used prominently in company materials for decades, according to a press release, including as the namesake of its first-ever residential property.
• Lincoln Property Co. was the second-largest apartment manager in the country in 2023, with 213,000 units under management, according to the National Multifamily Housing Coalition’s 2023 Top 50 Managers list. Willow Bridge is now the third-largest manager, after Greystar and Asset Living. The company is no longer affiliated with Lincoln Property Company or Liberty Military Housing, which is reflected in the updated units under management.

Dive Insight:

Cadillac Fairview, a subsidiary of the Ontario Teachers’ Pension Plan, began its transition into ownership in 2019 when it acquired a 49% stake in the residential division, which has been a part of Lincoln Property Co. since its founding in 1965. That same year, CF and Lincoln co-sponsored a long-term investment program to develop and acquire apartments in the U.S. 

Lincoln Residential has completed over $1.5 billion of acquisitions and has another $2 billion under development with more expansion planned.

Mack Pogue, Lincoln’s founder, and Tim Byrne, Lincoln Residential’s retired CEO, retain a 5% stake in the company. The acquisition came with a new CEO, Duncan Osborne, and several changes to the executive leadership team. 

“With strong sponsorship from our new shareholder, we are investing in our people and our capabilities,” said Osborne. “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 shareholder and plans to expand our capital relationships.”

Over the course of its history, Willow Bridge has built over 200,000 apartment units across the country, according to a press release. It currently manages over 180,000 units, and oversees more than $3 billion in assets under management across 75 markets in the Continental United States. 

Its recent projects include The Registry Las Olas, a 374-unit high-rise in Fort Lauderdale, Florida.

Correction: This story has been changed to note that Lincoln is not the parent company of Willow Bridge, and that Willow Bridge is no longer affiliated with Lincoln Property Co. or Liberty Military Housing.