DALLAS AND CHARLOTTE, N.C. — Global real estate company Lincoln Property Co. has acquired The Spectrum Cos., a full-service real estate firm based in Charlotte. The acquisition enhances Lincoln’s platform in the Carolinas region.
Johno Harris, senior executive vice president at Lincoln, and Stephen McClure, CEO of Spectrum, will be leading Lincoln’s Carolinas platform, which will now also include Spectrum’s Northern and Central Florida’s multifamily business.
Since its inception in 1982, Spectrum has developed nearly 7,000 multifamily units and currently leases and manages a total of 4.4 million square feet of assets. With this new partnership and investment in the platform, the combined firm is poised to ramp up its development and acquisition pipeline across both multifamily and commercial real estate.
“Our shared values are the foundation for seamless integration, and Lincoln’s full-service platform and national resources will only strengthen what we’ve already built,” says McClure.
Darryl Dewberry, Spectrum’s executive chairman, will continue in his role to ensure continuity for the development and investment partnerships he has helped cultivate across the Carolinas.
Lincoln says the acquisition broadens its product offerings in the region and deepens its capacity to serve clients, pursue opportunities and compete more effectively.
Dallas-based Lincoln is one of the largest private real estate firms in the United States. The company’s combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space.
Spectrum develops, owns, leases and manages commercial and multifamily properties throughout the Southeast. Part of its portfolio is One City Center in Durham and One Independence Center in Charlotte.
— Kristin Harlow