Lincoln Property Company, a global full-service real estate firm with more than $31 billion in assets under management, has announced the cornerstone close of Lincoln Logistics Fund II with $280 million in capital commitments, representing nearly one-third of the fund’s $1 billion target. The cornerstone close reflects significant support from two of Lincoln’s longstanding investors, both U.S. public pension plans, alongside Lincoln’s majority owner Stone Point Capital and Lincoln employees.
The fund will pursue the same enhanced value strategy Lincoln has employed since 2001, primarily targeting last mile and multi-tenant industrial investments across the U.S. through lease-up, capital expenditure, and development. The company expects to advance toward its next close as fundraising momentum continues.
Lincoln Property Company operates across 35 offices with a team of local market leaders whose ground-level expertise in sourcing and evaluating industrial assets has underpinned the firm’s 25-year logistics investment track record. The combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space across asset types including office, multifamily, life science, retail, industrial, data center, production studio, healthcare, and government properties throughout the United States, United Kingdom, and Europe. Stone Point Capital Chairman and Co-CEO Chuck Davis described Lincoln’s track record across market cycles as a genuine differentiator underpinned by a seasoned and stable senior team.
The $280 million cornerstone close signals strong conviction from long-term institutional partners who have invested with Lincoln for over a decade — in one case for more than 25 years — and positions the fund for continued momentum as it works toward its full $1 billion target. Co-Head of Logistics Gary Kobus expressed confidence in the current pipeline of opportunities and highlighted the team’s on-the-ground market knowledge as the primary tool for identifying attractive investments as the fund deploys capital. The last mile and multi-tenant industrial segment has been among the most competitive and sought-after in commercial real estate over the past several years, driven by structural demand from e-commerce fulfillment, third-party logistics operators, and last-mile delivery platforms.
Lincoln’s enhanced value strategy focuses on acquiring assets that can be improved through active asset management, capital investment, and lease-up, rather than relying primarily on market appreciation. That approach has historically generated differentiated returns for institutional investors relative to core strategies focused on stabilized, long-term leased assets.
KEY QUOTE:
“We are delighted to have the support of two of Lincoln’s longstanding relationships in this cornerstone close. These U.S. public pension plans have invested with us for over a decade, one for over 25 years, and we are honored that they are early supporters of the Fund.”
David Binswanger, Co-Chief Executive Officer, Lincoln
