Lincoln Property Company raised more than $2 billion in equity across its investment platform in 2026, capping the year with a $400 million discretionary program backed by affiliates of HF Capital and SGF Capital. The commitment brings the Dallas-based real estate firm into a long-term partnership with two family office investors focused on direct alignment with an operating platform.

The discretionary relationship gives Lincoln and the family offices joint authority to pursue investments across Lincoln's national real estate platform. JLL Securities advised Lincoln in arranging the partnership.

"Partnership has always been at the centre of how we do business, and we are honoured to be aligned with two of the premier family office investors in the country," David Binswanger, co-CEO of Lincoln Property Company, said. "This is far more than a capital commitment. It marks the continuation of relationships that have been years in the making and the beginning of a long-term partnership built on shared values, trust, and a common investment philosophy."

Lincoln has drawn increasing capital from discretionary and strategic investors seeking direct ties to an experienced real estate operator. The firm has expanded its investment management business while maintaining a comprehensive real estate services platform that spans development, asset management and brokerage.

"We believe great outcomes start with strong alignment, and we're proud to be building alongside investors who share our vision," Clay Duvall, co-CEO of Lincoln Property Company, said. "This commitment reflects the confidence these investors place in our platform and our people, and we view it as a foundation for creating value together for many years to come."

SGF Capital cited Lincoln's track record and relationship-driven approach as factors in the commitment. "Lincoln has built an exceptional platform and a reputation for disciplined, relationship-driven investing," Joe O'Brien, chairman and CEO of SGF Capital, said. "What stood out to us was the firm's long-term approach, deep alignment with its partners, and proven ability to navigate market cycles."

HF Capital has worked with Lincoln on development projects, including a new stadium and mixed-use project for the Cleveland Browns tied to the Haslam family. "Lincoln's track record speaks for itself, and the strength of its platform, leadership team, and investment capabilities made this a compelling opportunity," John Apperson, managing director, said. "We've known the Lincoln principals for a long time, and the firm has been a tremendous development partner to the Haslam family on the new Cleveland Browns stadium and associated mixed-use development."

Wellford Tabor, head of direct investments at HF Capital, said the family office sought a partner with aligned values and a long-term perspective. "We were looking for a real estate partner with aligned values, a long-term perspective, and the proven ability to generate exceptional investment results," Tabor said. "Lincoln embodies all of those qualities."

The partnership forms part of Lincoln's wider strategy to scale its investment management business and expand discretionary capital relationships. The firm is positioning itself to pursue opportunities across market cycles through a more diversified platform.