Lincoln Property has acquired California-based property and asset management firm RiverRock Real Estate for an unspecified amount.
As part of the deal, RiverRock’s founding partner John Combs invested in Lincoln and will serve as a key executive on Lincoln’s leadership team. Combs will help lead the operations and growth of Lincoln’s property management business, with a focus on the West Coast.
Lincoln Property manages, leases, develops and invests in office, life-science, retail, industrial, data-centre, production-studio and mixed-used properties in the US and Europe. RiverRock provides third-party management services to clients in California and Arizona.
Lincoln Property, said the acquisition adds more than 50m sqft to its 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”.
David Binswanger, co-CEO at Lincoln Property, said: “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.”
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