Lincoln Property Names New Leaders, Gains Investment

David Binswanger. Image courtesy of Lincoln Property Co.

Nearly six decades after its founding by Mack Pogue, Lincoln Property Co. is about to come under new leadership. The Dallas-based developer and investor said Monday that it has named David Binswanger and Clay Duvall, two longtime Lincoln executives, as the company’s co-CEOs. The duo will succeed Pogue, the firm’s chairman, and CEO Bill Duvall.

Alongside the leadership changes, the company’s commercial real estate subsidiary, Lincoln Property Commercial, has inked an investment from Stone Point Capital, intended to enable the company to expand the scope and scale of its services, investments and acquisitions. The firm plans to use the funds to fuel further acquisitions in the office, industrial, retail, mixed-use and life science sectors, as well as to enhance its property and investment management offerings for its institutional clients. Berkshire Global Advisors served as the company’s financial advisors in the transaction.

Lincoln Property’s leadership plans

Mack Pogue founded Lincoln Property Co. in 1965 as an apartment developer. Duvall joined the company in 1977, expanding it into the commercial real estate market nationwide. At present, the company owns and operates more than 226 million square feet of space, according to CommercialEdge information, and consistently ranks among Commercial Property Executive’s lists of top managers, owners and developers of commercial space. Following the succession of their roles, Pogue and Duvall will maintain their ownership stakes in the company. Greg Courtwright, the company’s COO, will remain in his role.

Clay Duvall. Image courtesy of Lincoln Property Co.

Binswanger and Duvall bring five decades of combined experience to their new positions. In his role as executive vice president of finance, Duvall managed the firm’s relationships with its equity and capital markets partners. As senior executive vice president of LPC West, the company’s West Coast affiliate, Binswanger has overseen many of the company’s high-profile acquisitions and developments in the region.

Commercial conquest

Lincoln Property Co.’s leadership change and newfound funding for its commercial subsidiary takes place amid partnerships and collaborations on several large-scale projects. Last month, the company broke ground on the Goodyear AirPark, a planned 20-building, 7 million-square-foot industrial in the Phoenix area. In September of 2022, it, alongside Kairoi Residential begun construction on Waterline, a 2.7 million-square foot mixed-use office, retail, multifamily and hospitality space in Austin. After its construction finishes, the building will be the tallest single building in Texas.