Business & Innovation | Nov 12, 2021

Lincoln Property Company, Cadillac Fairview and IMCO Grow Multifamily Fund to $1.8 Billion

Lincoln Property Company, Cadillac Fairview and IMCO Grow Multifamily Fund to $1.8 Billion

DALLAS and TORONTO, November 12, 2021 - Lincoln Property Company’s residential division (“Lincoln Residential”) and its partner, Cadillac Fairview, as co-sponsor, have grown their US multifamily fund from $800 million to $1.8 billion in equity. Lincoln Residential, Cadillac Fairview and the Investment Management Corporation of Ontario (IMCO) contributed to the $1.0 billion expansion. The fund will continue to work as a long-term investment vehicle, focusing on the development and acquisition of high-quality multifamily assets in top US markets. To date, the fund has acquired several luxury communities including:

“The growth of the fund is a testament to the success we’ve seen since its inception nearly two years ago,” said Duncan Osborne, Executive Vice President, Investments, for Cadillac Fairview. “Expanding and diversifying into the US multifamily market with our partner, Lincoln Residential, alongside our existing partner, IMCO, has been fruitful and we look forward to the opportunities that arise from the fund’s continued growth.” Tim Byrne, CEO for Lincoln Residential, commented, “We are honored to grow our partnership with Cadillac Fairview and IMCO. They are great partners and we are excited to continue our goal of building a best-in-class portfolio together.”

In fact, the fund has numerous development projects under construction, with additional projects planned in major cities, including Boston, Washington, D.C., Charlotte, Nashville, Dallas, Atlanta, Miami, Phoenix, and Chicago, to name a few. Brian Whibbs, Managing Director, Real Estate for IMCO added, “Multi-residential assets continue to perform well and play an important diversification role in our portfolio. Upsizing our commitment in this successful US multifamily fund with our valued partners Lincoln and CF furthers IMCO’s mission of creating value for our clients.”

About Lincoln Property Company

Lincoln Property Company was founded in 1965, by Mack Pogue, as a builder and operator of high quality residential communities. Headquartered in Dallas, TX, Lincoln focuses on real estate investment, construction and development, in addition to property management. Their national reputation has enabled Lincoln to attract a large client base of owners and investors who count on their ability to deliver quality results and continually serve as a market leader. Lincoln is currently the second largest multifamily manager in the United States with over 210,000 units under management. For more information about Lincoln Property Company, please visit www.lincolnapts.com/business-services.

About Cadillac Fairview

Cadillac Fairview (CF) is a globally focused owner, operator, investor, and developer of best-in-class real estate across retail, office, residential, industrial and mixed-use asset classes. Wholly owned by the Ontario Teachers' Pension Plan, CF manages in excess of $35 billion of assets across the Americas and the United Kingdom, with further expansion planned into Europe and Asia. Internationally, CF invests in communities with like-minded partners, including Stanhope in the UK, Lincoln Property Company in the US, and Multiplan in Brazil. The company's Canadian portfolio comprises 69 landmark properties, including the Toronto-Dominion Centre, CF Toronto Eaton Centre, Tour Deloitte, CF Carrefour Laval, CF Chinook Centre and CF Pacific Centre. Continually striving to make a positive impact in communities where it operates by promoting social connection, growth, and a sustainable future, CF's Purpose is Transforming Communities for a Vibrant Tomorrow. Learn more at cadillacfairview.com and follow CF on LinkedIn, Twitter, and Instagram. About IMCO

The Investment Management Corporation of Ontario (IMCO) manages C$73.3 billion of assets on behalf of its clients. IMCO’s mandate is to provide broader public-sector institutions with investment management services, including portfolio construction advice, better access to a diverse range of asset classes and sophisticated risk management capabilities. IMCO is an independent organization, operating at arm’s length from government and guided by a highly experienced and professional Board of Directors.

Media Contact: Sheri Sandefur Killingsworth, Vice President - Marketing & Communications 214-740-3300 | corporate@lpsi.com SOURCE Lincoln Property Company

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