Lincoln Property Co. is enhancing its full-service real estate platform in the Carolinas with the acquisition of The Spectrum Cos., which develops, owns, and manages multifamily and commercial properties throughout the Southeast.Â
Lincoln senior executive vice president Johno Harris and Spectrum CEO Stephen McClure will lead the firm’s Carolinas platform, which also will include Spectrum’s Northern and Central Florida multifamily business.
“Lincoln has long been committed to the Carolinas, and this acquisition reflects that commitment in a meaningful way,” said Harris. “I grew up watching my father, Johnny Harris, help shape the region’s real estate community with transformative projects that put Charlotte, North Carolina, and the Carolinas on the national map. That legacy is part of why this market matters so deeply to me personally. By joining forces with Spectrum, we are well-positioned to grow our footprint and serve clients at a higher level across the Carolinas.”
Founded in 1982, Spectrum has developed nearly 7,000 multifamily units and leases and manages 4.4 million square feet of assets. The combined firm anticipates ramping up its development acquisition pipeline for both multifamily and commercial real estate.Â
“Lincoln’s people-first culture and business built on trust and collaboration is why we’re proud to partner,” added McClure. “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.”
In addition, Spectrum will continue to build on its existing customer and investor relationships while expanding its services and opportunities through Lincoln’s vertically integrated capabilities. Spectrum executive chairman Darryl Dewberry will remain in his role to ensure continuity for the development and investment partnerships he has helped cultivate in the Carolinas.Â