Ranked One of the Largest Apartment Managers and Developers by NMHC 2024 Top 50
Caption: Balsa, a 222-unit office-to-multifamily conversion developed by Willow Bridge in Washington D.C.
DALLAS, April 17, 2024 (GLOBE NEWSWIRE) — Willow Bridge (formerly known as Lincoln Property Company) has been named the 4th Largest Apartment Manager according to the 2024 NMHC Top 50 list released earlier this month. Willow Bridge has ranked on the NMHC 50 list every year since the rankings debuted in 1989.
Following the company’s acquisition by Ontario Teachers’ Pension Plan (OTPP) in February 2023, Willow Bridge is no longer affiliated with Lincoln Property Company or Liberty Military Housing (37.2K units), which resulted in a drop to 180,000 units under management. In just a matter of months, Willow Bridge steadily grew to over 200,000 units, a remarkable feat despite an industry-wide dip in transaction volume and apartment starts.
“While the numbers might tell the story that we dipped in units under management, that is far from the truth,” said Scott Wilder, President, Property Management for Willow Bridge. “Despite separating from Liberty Military Housing and undergoing a rebrand, Willow Bridge had one of our best years in terms of net unit growth, climbing from 180,000 units to over 200,000 in 2023. These 20,000 additions to our portfolio signify the long-term partnerships we continue to build with our valued clients and are a testament to the exceptional level of service from our teams.”
After unveiling a new name, logo and visual identity in October 2023, Willow Bridge Property Company has ambitious growth plans for the future. With strong sponsorship from its shareholder, OTPP, the company has a thoughtful strategy to grow and support property management operations, while significantly expanding investment and development programs, and building on capital relationships.
Recognized by NMHC as one of the 25 Largest Developers with 2,854 units started in 2023, Willow Bridge has several notable multifamily developments in the pipeline. Solverre, a 303-unit amenity-heavy development bordering Lake Michigan is pre-leasing in Chicago, and Balsa, a 222-unit office-to-multifamily conversion in Washington D.C. is set to open this summer, among others.
Looking ahead, Jeff Courtwright, President, Development at Willow Bridge, expressed optimism about the company’s future growth trajectory. “We’re looking forward to continued growth in our development and acquisitions as we continue into the second quarter,” he stated. Despite the economic conditions, Willow Bridge remains steadfast in its commitment to pursuing quality developments across the U.S. with projects underway in major metros from Miami, to Chicago, D.C., Dallas, Orlando, Nashville, and beyond.
About Willow Bridge
Founded in 1965 by Mack Pogue as Lincoln Property Company, Willow Bridge Property Company is one of the United States’ most respected full service residential property companies, operating a successful portfolio in 75 markets. Headquartered in Dallas, Texas, Willow Bridge proudly employs over 4,500 team members, has built over 200,000 apartments and manages 200,000 units for its clients. To learn more, visit willowbridgepc.com.
Media Contact: Megan Collins, National Director of Communications, Willow Bridge Property Company 214-740-3300 | corporate@willowbridgepc.com
SOURCE Willow Bridge Property Company
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